London is a place that any avid traveller would love to explore atleast once in the lifetime, isn’t it? From watching the skyline of the London city at Hilton Double Tree Sky Lounge to buying your favourite goodies at the retail district of Knightsbridge, the city gives you goosebumps at every square.
So, when there are so many things to explore, comes the role of the penny at the same time. Say, if you are a proud resident of New Delhi and are looking for a London expedition, you should be planning the trip 2-3 months in advance so that the costs can be reduced significantly. If you do follow this planning, the price of the air ticket would range within ₹45,000-1,90,000 per individual, which is lower than ₹50,000-over 2,00,000 per individual in case you are booking a month before the travel.
The price range is for a one-way trip. Double the amount to find out the overall cost of flight. The cost of accommodation, if you stay in budget hotels, will be ₹8,000-25,000. You could spend around ₹50,000-70,000 bucks on exploring the locales and shopping for the goodies. So, you have got an idea of the money figure that you need, right!
Obviously, you would not like to consume most of the savings, if any, as they are the safest bet to deal with the future uncertainties. So, what will help you travel London? In my view, an Axis Bank Personal Loan could well be a friend you need to take you through to London in the best possible way. And Axis Bank Personal Loan is what can help plan your expedition better. So, choose this moment to understand the role of the calculator it can play in your London sojourn.
Role of Axis Bank Personal Loan EMI Calculator
Before jumping to the calculator, you should first know about the Axis Bank personal loan offer in detail. Axis Bank, as I speak of, is the third largest private lender by assets. If the operational presence of the bank is concerned, the 1994-founded unit has grown its base by establishing around 3,000 branches and 13,000 ATMs across India.
It offers a wide range of loans, including the much-needed personal loan for the travel desires, just like your impending London trip. The minimum and maximum amount of personal loan offered by Axis Bank equal to ₹50,000 and 15,00,000, respectively. The time period to pay off the loan is 1-5 years, while the interest rate at which the loan has to be serviced comes out to be 15.50%-24% per annum. You can always negotiate with the bank to cut down the interest rate. The points which can help you negotiate are a higher CIBIL score, greater income, existing relationship with Axis Bank, if it is the case, etc.
Above, we had touched upon three critical elements related to Axis Bank Personal Loan-Interest Rate, Loan Amount and Loan Tenure. Now comes the much-awaited role of Axis Bank Personal Loan EMI Calculator, which uses these elements to prepare a solid runway for your flight to take off to London and from there to New Delhi.
These elements, when entered in the calculator, showcase the repayment schedule that’s gonna come before you. In layman’s word, if I say, the calculator will bring forth the Equated Monthly Installments (EMIs), which you should be ready to pay each month. EMI is a constituent of principal and interest amount payable from your pocket on a monthly basis. That’s not the only function the calculator does. It also gives you a picture of the interest repayments that would pan out.
Dream Calculator Set to Open Up Your Eyes
In our cost analysis, it seems a ₹5-7 lakh personal loan could finance your wish of exploring London. Take the higher limit of ₹7 lakh and then find out how it’s gonna impact your pocket. All set to enter the required values in the calculator? So, folks enter those and you would find the EMI and interest outgo coming out to be ₹16,837-20,138 and ₹3,10,234-5,08,255 at an interest rate of 15.50%-24% and tenure of 5 years. If you can afford to pay an excess EMI of around 3,000, a shorter tenure of 4 years could reduce your interest liability by ₹66,583-1,12,833 to ₹2,43,651-₹3,95,422. So, why not go for a 4-year tenure and give your pocket some relief.
In our findings, Personal Loan EMI Calculator has proven out to be a handy tool for planning your London trip. Use the calculator and set your money meter accordingly to explore London in the most pocket-friendly way possible.