To calculate the EMI (Equated Monthly Installment) for a 5-year personal loan of 3 lakhs, we need to know the interest rate being offered by the lender. As interest rates may vary depending on various factors, such as the lender, the borrower’s credit score, and other eligibility criteria, the EMI amount may also vary.
As an example, assuming an interest rate of 10% per annum, the EMI for a 5-year personal loan of 3 lakhs would be approximately Rs. 6,349. This is a rough estimate and the actual EMI amount may vary depending on the interest rate and other factors applicable to your specific loan agreement.
To get an accurate EMI amount for your personal loan, you can use online EMI calculators offered by various lenders, financial institutions, or third-party websites. You will need to enter the loan amount, interest rate, and tenure to calculate the EMI.
