Commercial Bank of Dubai (CBD) Personal Loan Calculator
Calculate Your Personal Loan EMI Easily!
Minimum Salary 5000 AED
EMI Tenure up to 48 Months
Lowest Interest Rates
Get personal loan at Lowest Interest Rate
A personal loan is a reliable option to secure funds in times of an emergency or personal requirements. Whether you plan a home renovation, debt consolidation, international trips, destination wedding, or higher education for your children, a personal loan plan could be an apt solution to meet all your financial goals. One such provider for the same is the Commercial Bank of Dubai.
Commercial Bank of Dubai, also referred to as the CBD, is amongst the oldest banks in the Emirates. CBD personal loans are renowned for their high loan amounts, flexible repayment tenures, and attractive interest rates. Remarkably, you can make an informed choice when getting a CBD personal loan with the CBD personal loan calculator, which greatly simplifies the process of getting necessary personal loan details like the monthly repayment amount.
Let’s have a look at all the fundamental aspects of CBD personal loan calculator and how you can use it before getting a personal loan in UAE.
CBD Personal Loan EMI Calculator About?
A CBD personal loan calculator is an excellent tool for potential borrowers to determine the loan amount they can afford and repay comfortably over time in the form of monthly payments and interest charged by the bank. Primarily, this online personal loan calculator will help you figure out the amount that you will have to repay each month for your personal loan.
Using CBD personal loan calculator is fairly easy. All you need to do is enter the loan details such as the loan amount, loan period, and interest rate, and this automated tool will give you the amount of the equated monthly instalments for your loan. By having an idea of the applicable loan instalment amount beforehand, you can manage your finances better before your personal loan starts.
Here are the key benefits of using CBD personal loan calculator -
- User-Friendly – The CBD personal loan calculator has a user-friendly intuitive interface. Irrespective of your technical knowledge, you can easily use this tool to compute monthly payments.
- Time-Saving – While the monthly instalments of personal loans can always be calculated manually, the process takes a large amount of time, not to mention the hassle involved for the same. CBD personal loan calculator, on the other hand, is easy to use and does the entire computation in a few seconds.
- Eliminates Errors – CBD personal loan calculator eliminates all the mistakes arising from manual calculations. Thus, you get access to reliable and accurate results (within a second or two) with this personal loan calculator online.
- Well-Informed Decisions – The loan amount, loan repayment tenure, and the interest rate are the three significant factors that determine the personal loan monthly instalments.
By changing the value of any of these factors and checking the instalment amount with the CBD personal loan calculator multiple times, you can easily find out the loan plan, loan amount, as well as the loan repayment tenure that you must select to ensure an easy repayment of the loan without constraining your finances.
How Does the CBD Personal Loan Calculator Function?
The CBD personal loan calculator is a three-step loan calculator that fetches the monthly instalment for you in just a few seconds after you provide it with the essential details.
Here is how you can use this calculator:
- Step 1 - To begin with, you would need to provide the calculator with the following details –
- Your Nationality
- Your Monthly Income (AED)
- Step 2 - As part of this step, you would be required to disclose all your other debts such as a car loan, a home loan, an overdraft facility, or any other type of loan. In case you have any such loan, you can enter the monthly instalments for the same. Keep in mind that you can also enter your credit card limit on this page for accurate results with respect to your CBD personal loan monthly instalment calculation.
- Step 3 - In the final step of the calculation, you would need to enter the loan repayment tenure and the applicable interest rate in the CBD personal loan calculator to get the estimated monthly payments of the loan and the maximum amount loan amount that you will be eligible for.
You can easily tweak the values and find out the personal loan plan that matches your financial requirements the best.
Factors Affecting the Calculation of the Personal Loam EMI
While you can easily use the CBD personal loan calculator to find out the monthly instalment amount for your personal loan, it is always advisable to be aware of the factors that affect the calculations.
Discussed below are the three major factors that affect the monthly instalment amount for your personal loan:
- Loan Amount – It is the loan amount sanctioned by the bank or the loan provider. The loan or finance amount is one of the most significant factors while assessing the monthly payments, as the interest is also calculated as a percentage of the finance amount. The loan amount and the monthly instalments have a direct relation, i.e., the monthly instalments are higher if the loan amount is high and vice-versa.
- Rate of Interest – This refers to the rate at which the interest is calculated for your personal loan as part of the total loan amount. The interest rate varies as per the loan provider, income, credit Score, the age of the applicant, and more. With a low-interest rate, an applicant gets a low instalment amount as well.
- Loan Tenure – It is the period in which you would need to repay the loan (total amount plus applicable interest). Generally, the loan repayment period in UAE is between 6 months and 48 months.
Unlike the previous two, the loan repayment tenure is inversely related to the instalment amount – the longer the loan repayment period, the lower the monthly instalments. Similarly, the shorter the loan tenure, the higher the monthly instalments albeit with lower interest amount.
Policybazaar UAE Personal Loan Calculator Online
Besides comparing the best personal loan plans from the top providers and getting one at the best prices, you can also visit Policybazaar UAE to make use of our personal loan calculator and compute the monthly instalments. Policybazaar UAE personal loan calculator has a user-friendly interface and is easy to use.
This is how you can use the Policybazaar UAE personal loan calculator:
- Visit policybazaar.ae and head to the ‘Personal Loans in UAE’ section under the ‘Banking Products’ tab
- You will find the personal loan calculator available here
- Enter the loan amount, the interest rate, and the repayment tenure to get the monthly instalments for your plan
- You can tweak the values of any variable to find out the instalment amount for different plans and select the one that aligns with your needs. The borrower can also see the personal loan options by clicking ‘view plans’.
Wrapping Up
If you are planning to take a personal loan and wish to check whether it is affordable, the CBD personal loan calculator is one of the best options for you. With the CBD personal loan calculator, you can easily calculate the estimated monthly instalment of the loan, which is a crucial factor for users considering their finances before obtaining the loan. As this personal loan calculator provides all the required information in just a few seconds and without much hassle, you can save time and effort and get accurate results using the CBD personal loan calculator.
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