Spending all of your savings on wedding expenses is not the smart choice, nor on remodeling your kitchen to make your house comfortable. It can cost you a huge Planning a wedding, renovating your home, or even planning a vacation? My Mudra's Ashirvad Loan is the solution.
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The interest rate on Ashirvad loan is affected by a variety of factors. Knowing about these factors will help you get the most competitive interest rate on Ashirvad Loan.
1.Age: - Individuals must be at least 21 years old and below 65 years of age.
2.Credit Score: - Individuals have a credit score of 750 and above to reduce the interest rates on the amount.
3.Occupation: - Individual must be salaried or self-employed with all the required documents.
4.Repayment History: - Having an excellent repayment history helps you to increase your Ashirvad loan eligibility and help you to get a lower interest rate.
5.Stable Income: - Low-interest Ashirvad loans are more likely to be available to people with higher incomes. Having a steady income makes it easier to pay back the loan.
Loan Amount is
10k
10L
No. of Month is
12M
84M
Rate of Interest (ROI) is
5
35
There are two methods for calculating Ashirvad loan’s EMI.
The simplest, quickest, and most straightforward approach to figuring out monthly installments is to utilize Ashirvad loan interest rate calculator. All you have to do here is enter the values for the three major components, and the outcome is created automatically in seconds.
Flat Interest Rate Calculation
EMI = (principal + total interest payable) / loan tenure (Months)
Total interest payable = P x R x N / 100
Floating Interest Rate Calculation
EMI = [P x R x (1 + R) ^ N] / [(1 + R) ^ (N - 1)]
‘P’ is the principal loan amount.
‘R’ is the interest rate.
‘N’ is the loan tenure in months.
Plan your loan repayment using My Mudra's Ashirvad loan EMI calculator. Simply enter your basic details in this easy-to-use calculator to find out your EMI amount. After entering the loan amount, interest rate, and repayment tenure on the calculator, you will immediately receive the EMI details. This allows you to estimate your fixed costs based on the duration that works best for you.
There are a few ways to reduce the professional loan EMI amount.
Before trying any of these tactics, be sure to use a professional loan calculator and conduct a thorough cost-benefit analysis.
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