An overdraft is a type of credit facility that allows an individual or business to withdraw more funds from a bank account than the available balance. It is a short-term borrowing arrangement that is typically used to cover temporary shortfalls in cash flow. For instance, you can access the overdraft facility from banks in India to withdraw ₹5,000 from your savings account even if you have just ₹100 in the account. This facility comes with a higher interest rate but allows you to address emergencies. In India, overdraft facilities are commonly used by businesses and individuals to manage urgent and short-term credit needs.
Skip the manual calculations. Use the Fibe EMI Calculator to accurately determine your repayment amounts, interest charges, and more.
Fibe's personal loan EMI calculator is your reliable tool to determine your loan EMI in just a few minutes and some simple steps. Fibe offers personal loan of up to Rs 5 lakhs with minimal documentation and quick processing. Coupled with interest rates as low as Rs 9/day, this is by far your most compelling credit option in the market. Calculate your monthly repayments based on your sanctioned loan amount and interest rates using this handy EMI calculator that's operate and easy to understand. With Fibe, you can even prepay your loan amount with no additional charges.
Your EMI Amount is
₹
13,107
Loan Amount
₹145,000
Min
Max
₹8,000
₹10,00,000
Interest rate
14%
12
30
Select EMI option
12 Months
3
36
Months
Months