# How much is a \$10000 loan for 5 years?

In another scenario, the \$10,000 loan balance and five-year loan term stay the same, but the APR is adjusted, resulting in a change in the monthly loan payment amount.

Your payments on a \$10,000 personal loan
Term (in years) 5 5
Monthly payments \$201 \$379

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## Accordingly, can I get a loan for 5 years?

Longer the personal loan tenure, lower will be the EMI. Longest loan tenure available across banks in India is 5 years,subject to borrower’s current age and retirement age.

Moreover, how do I calculate loan repayments in Excel?

## Moreover, how do I calculate my loan repayment?

Here’s how you would calculate loan interest payments.

1. Divide the interest rate you’re being charged by the number of payments you’ll make each year, usually 12 months.
2. Multiply that figure by the initial balance of your loan, which should start at the full amount you borrowed.

## How do you calculate monthly payments on a loan?

To calculate the monthly payment, convert percentages to decimal format, then follow the formula:

1. a: \$100,000, the amount of the loan.
2. r: 0.005 (6% annual rate—expressed as 0.06—divided by 12 monthly payments per year)
3. n: 360 (12 monthly payments per year times 30 years)

## How many more monthly payments are made for a 5 year loan than for a 2 year loan?

36 more monthly payments are made for a five-year loan than for a two-year loan.

## How much loan can I get on 50000 salary?

On the other hand, if you are wondering – how much personal loan can I get on a 40,000 salary, the loan sanction amount will be close to Rs. 10.80 lakhs.

Salary Expected Personal Loan Amount
Rs. 40,000 Rs. 10.80 lakhs
Rs. 50,000 Rs. 13.50 lakhs
Rs. 60,000 Rs. 16.20 lakhs

## How much loan can I get on my salary of 15000?

A: A salary of Rs. 15,000 generally falls in the category of a low-income borrower group. So, an instant personal loan app with a maximum approval amount of 1.5 Lakhs can be availed by the borrower with a starting salary of Rs. 15,000.

## What credit score do I need for a \$50000 loan?

For a loan of 50k, lenders usually want the borrower to have a minimum credit score of 650 but will sometimes consider a credit score of 600 or a bit lower. For a loan of 50k or more, a poor credit score is anything below 600 and you might find it difficult to get an unsecured personal loan.

## What is considered a good credit score?

Generally speaking, a credit score is a three-digit number ranging from 300 to 850. … Although ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent.

## What is the interest on 5 lakh loan?

Calculated Monthly EMI for 5 Lakh of loan amount for 3 years at various rate of Interest:

Loan Amount Rate of Interest Per Month EMI
5 Lakh 15.00% Rs.17332.66
5 Lakh 16.00% Rs.17578.52
5 Lakh 18.00% Rs.18076.2
5 Lakh 20.00% Rs.18581.79

## What is total repayment amount?

Total Repayment Amount means the sum of all scheduled or projected payments of funds that the recipient agrees to pay to the provider.