# What is the interest on 50000 loan?

Calculated Monthly EMI for 50000 of loan amount for 3 years at various rate of Interest :

Loan Amount Rate of Interest Per Month EMI
50000 14.00% Rs. 1,709
50000 15.00% Rs. 1,733
50000 16.00% Rs. 1,758
50000 18.00% Rs. 1,808

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## Similarly one may ask, can I get personal loan if my salary is 15000?

Income: In order to be eligible for a personal loan through a bank, you have to draw a minimum salary every month, which varies from bank to bank. But generally, if you are earning at least Rs. 15,000 every month, you will be eligible for a personal loan.

Subsequently, how do banks give interest? There are two methods used to calculate interest on a fixed deposit: Simple Interest and Compound Interest. Banks may use both depending on the tenure and the amount of the deposit. What is the difference between the two? With simple interest, interest is earned only on the principal amount.

## Beside above, how much EMI can I get for 5 lakhs?

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

## How much home loan can I get if my salary is 25000?

25,000, you can avail as much as Rs. 18.64 lakh as a loan to purchase a home worth Rs. 40 lakh (provided you have no existing financial obligations.)

## How much is a 10000 loan over 5 years?

How your loan term and APR affect personal loan payments

Your payments on a \$10,000 personal loan
Term (in years) 5 5
Monthly payments \$201 \$379
Interest paid \$2,060 \$12,712
Total balance paid \$12,060 \$22,712

## Is there interest on a bank loan?

When you borrow money, you are expected to pay back the funds over time. … That means you won’t just pay back the money you borrowed. You’ll pay back the loan plus an additional sum, known as interest. Interest is one of the primary ways that lenders, banks and credit card issuers earn a profit.

## What is the EMI for 3 lakhs personal loan?

Calculated Monthly EMI for 300000 of loan amount for 3 years at various rate of Interest :

Loan Amount Rate of Interest Per Month EMI
3 Lakh 15.00% Rs.10399.6
3 Lakh 16.00% Rs.10547.11
3 Lakh 18.00% Rs.10845.72
3 Lakh 20.00% Rs.11149.08

## What is the interest of 1 lakh in SBI?

If you decide to invest Rs.1 lakh in your SBI FD account for a tenure of 5 years. The applicable interest rate is 5.30% p.a. Upon maturity, with an annual compounding frequency, you will earn Rs.30,000 as interest and your maturity amount will be Rs.1.3 lakh.

## What is the interest of 3 lakh in SBI?

SBI Personal Loan EMI for ₹ 3 Lakh

Loan Amount Interest Rate Tenure(Year)
₹ 3,00,000 9.60% 1

## What is the interest of 5 lakh in SBI?

State Bank of India Fixed Deposit Returns Based on Investment Amount

Investment Amount For 3 years with interest of 5.3% For 5 years with interest of 5.4%
₹ 50,000 ₹65134 ₹65459
₹ 1 lakh ₹130267 ₹130917
₹ 2 lakh ₹260534 ₹261834
₹ 5 lakh ₹651335 ₹654586

## What is the interest on 1 lakh loan?

1 Lakh Personal Loan Interest Rates 2021

Banks Interest Rates
HDFC Bank 10.99 – 20.75%
ICICI Bank 11.70 – 18.85%
Bajaj Finserv 11.99 – 16.00%
Fullerton India 14.00 – 33.00%

## What is the interest on 2 lakhs?

Calculated Monthly EMI for 2 lakh of loan amount for 3 years at various rate of Interest :

Loan Amount Rate of Interest Per Month EMI
2 lakh 14.00% Rs. 6,836
2 lakh 15.00% Rs. 6,933
2 lakh 16.00% Rs. 7,031
2 lakh 18.00% Rs. 7,230

## Which bank gives loan at lowest interest?

Compare Best Personal Loan in India

Bank Interest Rates Lowest EMI Per Lakh
HDFC Bank Personal Loan ⊕ Compare 10.25% ₹ 2,137
ICICI Bank Personal Loan ⊕ Compare 10.25% ₹ 2,137
Bajaj Finserv Personal Loan ⊕ Compare 12.99% ₹ 2,275
IDFC First Bank Personal Loan ⊕ Compare 10.49% ₹ 2,149

## Why do banks pay interest?

The bank will pay you for every dollar you keep in your savings account. The money the bank pays you is called interest. … The bank wants to use your money to make loans – that is, lend people money. People often borrow money from the bank to buy expensive things, like houses and cars.