LOAN INSURANCE
WHY WE
Personal Loan EMI Calculator
LOAN INSURANCE
What is loan insurance cost?
Loan insurance usually costs 0.3% to 1% of the loan amount. The price depends on age, loan value, and loan duration.
What is loan insurance?
Loan insurance is a policy that pays the remaining loan amount if the borrower dies or becomes permanently disabled.
Is it worth taking home loan insurance?
It is helpful for large home loans where family income depends on one person.
Do you need loan insurance?
You may need it if you are the main earning member. If you already have term insurance, it may not be required.
What is loan insurance in India?
In India, loan insurance helps repay home, personal, or car loans if something happens to the borrower.
What is the purpose of loan insurance?
The purpose is to protect your family from loan stress and ensure financial security.
How to claim loan insurance?
Inform the bank and insurer, submit documents, and the insurer pays the remaining loan amount.
How much does loan insurance cost?
Home loan insurance may cost ₹10,000 to ₹1,00,000 or more depending on the loan amount.
Is it good to take loan insurance?
It gives peace of mind, but term insurance usually gives better value.
Which insurance is best for a home loan?
Term life insurance is usually the best option because it is affordable and flexible.
Is loan insurance refundable?
Some policies offer partial refunds if the loan is closed early. Always check the policy terms.
Which insurance policy is best for a loan?
Term insurance is generally the best policy to protect a loan.
Is it good to take a loan against an insurance policy?
Yes, it is useful because interest rates are lower than personal loans.
How can I protect more than ₹2.5 lakh in a bank?
Spread money across banks, use fixed deposits, insurance, and investments.
Personal Loan EMI Calculator
EMI Calculator
Loan Amount
₹500,000
Interest Rate
10.0% p.a.
Tenure
36 mo
EMI: ₹0
Principal: ₹0
Interest: ₹0
Learn about pre-approved personal loans:
What “pre-approved” means:
The lender has already checked your basic eligibility (income, credit score, repayment history). You don’t need to submit many documents. Approval is almost instant, though final checks still apply.
Key features:- No or minimal documentation
- Faster disbursal (sometimes within minutes or hours)
- Fixed loan amount & interest rate offered upfront
- No collateral required (it’s an unsecured loan)
Pre-approved does not mean guaranteed. The lender can still reject it if:
- Your credit score has dropped
- Your job or income has changed
- You already have high outstanding debt
Interest rates may be higher than secured loans.
Example:“You are pre-approved for a personal loan of ₹5,00,000 at 11.5% interest”
FINANCIAL DOCTORS ROOM
Home Loan EMI Calculator
Home Loan
₹50,00,000
Interest Rate
7.5% p.a.
Tenure
20 yrs
EMI: ₹0
Principal: ₹0
Interest: ₹0
Repayment Schedule
| Month | Principal | Interest | Balance |
|---|