Punjab National Bank Loans EMI Calculator

You might have already heard of the term “EMI” which is an efficient way to buy any product without even paying the whole price of the product. Through this guide, I will be sharing the complete details about Punjab National Bank Loans EMI calculator.

punjab national bank loans emi calculator
Punjab National Bank Loans EMI Calculator


What is EMI?

An Equated Monthly Installment (EMI) is a monetary term utilized in loan reimbursements. It’s a brisk and straightforward strategy to take care of a loan. At the point when a borrower takes a loan from a bank or NBFC, the reimbursement of the advance is done principally in explicit regularly scheduled payments. These fixed financial installments are known as EMIs. The measure of EMI is subject to the principal loan amount, tenure, and ROI. This regularly scheduled payment or EMI sum should be paid on a fixed date to the bank by cheque or online. 

Check a few advantages and disadvantages before choosing the EMI facility. 

Advantages of EMI:

  • The advantage of an EMI for borrowers is that they know correctly how much cash they should pay toward their loan every month, which makes their budgeting procedure simpler. 
  • The main advantage of an EMI is to make your planning procedure simpler. Numerous banks nowadays offer adaptable EMI choices to the borrowers. 
  • The EMIs are adjusted and chosen according to the borrower’s needs. 
  • The borrower chooses the installment and tenure according to their benefit.

Disadvantages of EMI:

  • A borrower spends about half-portion of their life reimbursing the loan installments. So there is no way for the borrower to purchase some other such essential utilities in the future. 
  • There is no option to complete the loan earlier, regardless of whether you have enough cash to pay-off. 
  • Skipping multiple EMIs may lead the borrower to confront legitimate activity, or the bank can remove their collateral. 
  • The borrower needs to pay an additional sum than the actual amount in the form of the interest rate.

About the PNB Organization

Punjab National Bank (PNB) is in Bank – Public in New Delhi. PNB is one of the leading business banks in India. This public sector bank established in the year 1895. The organization is listed on the Bombay Stock Exchange (BSE) with the BSE code as 532461 and listed on National Stock Exchange (NSE) with NSE code as PNB. 

The Bank provides various financial administrations, for example, digital banking, personal banking, social banking, smaller scale, small and medium endeavors. They offer banking products and operate Visa and platinum credit and debit card business, bullion business, life, and non-life coverage business, and gold coins and asset management business. The bank recognized that it is offering the most significant levels of consumer loyalty in Delhi and Chennai. 

Punjab National Bank Loan EMI Calculator 

Are you planning to take a loan from PNB as its rates have relaxed? First, know its EMI corner. Let’s start using PNB EMI Calculator, which is accessible on the web and most appropriate for the purpose. Let’s know the EMI calculator formula below:

EMI Calculation Formula

E = [P x R x (1+R)^N]/[(1+R)^N-1]


P = Principal Loan Amount

R = Monthly Interest Rate

N = Monthly Loan Tenure

Final Words:

So, this was all about  Punjab National Bank Loans EMI Calculator. Using the above formula, you can easily find out the no. of EMIs and the amount payable for any loan amount. In case you have any type of question regarding this topic, feel free to ask us in the comments section.