MoneyLens / Personal borrowing
Your loan, explained.
Personal loan · Fixed rate · Nirmal Bank Ltd · ••••5210
Illustrative
Amount you'll receive
ContractKFS · Sanction
₹7,66,420
of ₹8,00,000 sanctioned · ₹33,580 deducted before the money reaches you
Monthly EMI
₹17,998Real annual cost (APR)
14.41%Total you'll repay
₹10,79,909Tenure
60 months · fixed rate₹10.80 L
total EMIs
Where your repayments go
Principal you receive₹7,66,420
Fees & insurance deducted₹33,580
Interest₹2,79,909
Monthly reducing balance. Excludes penalties and future charges.
What Myra found for you
From your documents · each figure opens its findingYou could save
Your choice: options, not added together
Six questions, answered
Tap an answer for the detail01Product identity
- ProductPersonal loan
- ProviderNirmal Bank Ltd
- Document date12 Oct 2026
- Reference••••5210
- DocumentsKFS · Sanction
02What this product is
A ₹8.00 L personal loan repaid in 60 monthly EMIs of ₹17,998. The interest rate is fixed at 12.50% for the full term, so your EMI won't change. This is an offer you haven't signed yet.
03Key financial numbers
Before taking a loanSanctioned
₹8,00,000
Loan amount
Amount received
₹7,66,420
₹33,580 deducted
Interest rate
12.50%
Fixed · reducing balance
APR (Myra)
14.41%
KFS states 13.59%
Total repayment
₹10,79,909
incl. ₹2,79,909 interest
04Important findings
Most important first · shown only where the documents support them01
Cooling-off
3 days after the money arrives to change your mind
Your terms give a 3-day look-up period from disbursement. Within it you can exit by repaying the principal and the interest for the days you had the money, without a foreclosure charge. Note the date the money reaches you.
KFS p.3, §D
10Next relevant milestone
5 Dec 2026
First EMI · ₹17,998
08What Myra could not verify
0Nothing essential is missing.
09Suggested questions
05What you're committing to
- 60 EMIs of ₹17,998 on the 5th of each month
- Keep enough balance in your account before each due date
- Tell the lender about changes in address, employment or income
06What can change
- Interest rateFixed at 12.50% for the full term
- ChargesOnly those disclosed in the KFS, unless you agree to new ones
- InsurancePremium paid upfront; any refund on closure depends on the policy
07Exit and closure
- Look-up period3 days after disbursement · repay principal and proportionate interest, no penalty
- Part-prepaymentAfter 12 EMIs · up to 25% a year · 2% + GST
- ForeclosureAfter 12 EMIs · 4% of outstanding + GST
- Closure documentsNo-dues certificate and NOC after full payment