Personal Loan EMI Calculator

Calculate Your Personal Loan EMI with the help of EMI Calculator – Check personal loan monthly emi based at desired loan amount and the repayment period. Here is an easy online tool to calculate loan EMI on the basis of the loan amount, interest rates and tenure.

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Professional Details
Loan Amount
Occupation
Yearly Income
City
Disclaimer: We do not provide Personal Loans but help you to connect with banks to get best deals.
All loans are on sole discretion on the respective banks

If you still don’t know how to calculate your monthly EMI for a personal loan, no more worries now. Yes, because now you don’t have to call the bank to know the entire procedure of your monthly EMI calculation. Moreover, with the help of EMI calculator, it is easy for one and all to calculate his or her EMIs. All you need to do is just know yours.

  1. Personal Loan Amount
  2. Personal Loan Interest Rate
  3. Loan Tenure or Repayment Period

Personal Loan EMI Calculator

Loan Amount     Rs.
Interest Rate % Per Annum
Loan Tenure Years
Installment Date
Results
Loan Amount Rs. 2,00,000
Monthly Instalment (EMI) Rs. 5,516
Total Interest Amount Rs. 64,748
Total Amount (Principal + Interest) Rs. 2,64,748
Installment NoInstallment DateOpening BalanceEMIInterestPrincipal
201704/2017 To 12/2017Rs. 2,00,000Rs. 49,644Rs. 20,363Rs. 29,281
Apr04/2017Rs. 2,00,000Rs. 5,516Rs. 2,417Rs. 3,099
May05/2017Rs. 1,96,901Rs. 5,516Rs. 2,379Rs. 3,137
Jun06/2017Rs. 1,93,764Rs. 5,516Rs. 2,341Rs. 3,175
Jul07/2017Rs. 1,90,589Rs. 5,516Rs. 2,303Rs. 3,213
Aug08/2017Rs. 1,87,376Rs. 5,516Rs. 2,264Rs. 3,252
Sep09/2017Rs. 1,84,124Rs. 5,516Rs. 2,225Rs. 3,291
Oct10/2017Rs. 1,80,833Rs. 5,516Rs. 2,185Rs. 3,331
Nov11/2017Rs. 1,77,502Rs. 5,516Rs. 2,145Rs. 3,371
Dec12/2017Rs. 1,74,131Rs. 5,516Rs. 2,104Rs. 3,412
201801/2018 To 12/2018Rs. 1,70,719Rs. 66,192Rs. 21,887Rs. 44,305
Jan01/2017Rs. 1,70,719Rs. 5,516Rs. 2,063Rs. 3,453
Feb02/2017Rs. 1,67,266Rs. 5,516Rs. 2,021Rs. 3,495
Mar03/2017Rs. 1,63,771Rs. 5,516Rs. 1,979Rs. 3,537
Apr04/2017Rs. 1,60,234Rs. 5,516Rs. 1,936Rs. 3,580
May05/2017Rs. 1,56,654Rs. 5,516Rs. 1,893Rs. 3,623
Jun06/2017Rs. 1,53,031Rs. 5,516Rs. 1,849Rs. 3,667
Jul07/2017Rs. 1,49,364Rs. 5,516Rs. 1,805Rs. 3,711
Aug08/2017Rs. 1,45,653Rs. 5,516Rs. 1,760Rs. 3,756
Sep09/2017Rs. 1,41,897Rs. 5,516Rs. 1,715Rs. 3,801
Oct10/2017Rs. 1,38,096Rs. 5,516Rs. 1,669Rs. 3,847
Nov11/2017Rs. 1,34,249Rs. 5,516Rs. 1,622Rs. 3,894
Dec12/2017Rs. 1,30,355Rs. 5,516Rs. 1,575Rs. 3,941
201901/2019 To 12/2019Rs. 1,26,414Rs. 66,192Rs. 15,017Rs. 51,175
Jan01/2017Rs. 1,26,414Rs. 5,516Rs. 1,528Rs. 3,988
Feb02/2017Rs. 1,22,426Rs. 5,516Rs. 1,479Rs. 4,037
Mar03/2017Rs. 1,18,389Rs. 5,516Rs. 1,431Rs. 4,085
Apr04/2017Rs. 1,14,304Rs. 5,516Rs. 1,381Rs. 4,135
May05/2017Rs. 1,10,169Rs. 5,516Rs. 1,331Rs. 4,185
Jun06/2017Rs. 1,05,984Rs. 5,516Rs. 1,281Rs. 4,235
Jul07/2017Rs. 1,01,749Rs. 5,516Rs. 1,229Rs. 4,287
Aug08/2017Rs. 97,462Rs. 5,516Rs. 1,178Rs. 4,338
Sep09/2017Rs. 93,124Rs. 5,516Rs. 1,125Rs. 4,391
Oct10/2017Rs. 88,733Rs. 5,516Rs. 1,072Rs. 4,444
Nov11/2017Rs. 84,289Rs. 5,516Rs. 1,018Rs. 4,498
Dec12/2017Rs. 79,791Rs. 5,516Rs. 964Rs. 4,552
202001/2020 To 12/2020Rs. 75,239Rs. 66,192Rs. 7,081Rs. 59,111
Jan01/2017Rs. 75,239Rs. 5,516Rs. 909Rs. 4,607
Feb02/2017Rs. 70,632Rs. 5,516Rs. 853Rs. 4,663
Mar03/2017Rs. 65,969Rs. 5,516Rs. 797Rs. 4,719
Apr04/2017Rs. 61,250Rs. 5,516Rs. 740Rs. 4,776
May05/2017Rs. 56,474Rs. 5,516Rs. 682Rs. 4,834
Jun06/2017Rs. 51,640Rs. 5,516Rs. 624Rs. 4,892
Jul07/2017Rs. 46,748Rs. 5,516Rs. 565Rs. 4,951
Aug08/2017Rs. 41,797Rs. 5,516Rs. 505Rs. 5,011
Sep09/2017Rs. 36,786Rs. 5,516Rs. 444Rs. 5,072
Oct10/2017Rs. 31,714Rs. 5,516Rs. 383Rs. 5,133
Nov11/2017Rs. 26,581Rs. 5,516Rs. 321Rs. 5,195
Dec12/2017Rs. 21,386Rs. 5,516Rs. 258Rs. 5,258
202101/2021 To 03/2021Rs. 16,128Rs. 16,548Rs. 392Rs. 16,156
Jan01/2017Rs. 16,128Rs. 5,516Rs. 195Rs. 5,321
Feb02/2017Rs. 10,807Rs. 5,516Rs. 131Rs. 5,385
Mar03/2017Rs. 5,422Rs. 5,516Rs. 66Rs. 5,450
Total:Rs. 2,64,768Rs. 64,740Rs. 2,00,028

What Is Personal Loan EMI Calculator?

The personal loan EMI calculator is nothing, but a tool which can be used to calculate the monthly instalments that you will pay to undertake your personal loan. With the help of this tool, you can know your monthly EMIs by just entering the few details in the calculator. Yes, you need to enter the loan amount, tenure and interest rate in the calculator so as to effectively calculate your personal loan EMI.

What EMI Stands For?

Equated Monthly Installment or commonly known as EMI is the payable amount that you pay every month to the banks or financial institutions until your entire loan amount is fully paid off. EMI consists of the interest on the loan along with the principal amount to be repaid.

Moreover, the total sum of the principal amount and interest is further divided by the tenure of the loan. Hence, the amount that comes out will be paid monthly.

However, in initial months your interest component of the EMI would be larger, and then it slowly reduces with each payment.  Actually, the exact percentage being granted towards the payment of the principal clearly depends upon the rate of interest.

Furthermore, your monthly EMI amount remains the same, but the proportion of interest, as well as principal, will change. More to the point, one needs to pay less towards the interest and more towards the principal with each successive payment.

How Personal Loan EMI Calculator Works?

When it comes to personal loan EMI calculator, it works on the two basic formula.

The first formula is used to calculate the monthly interest rate, whereas the second one is used to calculate the EMI. Now, let’s know how these two formula work.

Calculate Monthly Interest Rate

Whenever you apply for a personal loan in a bank or any other financial institution, it would not be wrong to say that interest rate is the first and foremost thing that grabs the attention of all. So, before you start using the EMI calculator, you need to convert your annual interest rate into a monthly interest rate. And, in order to convert that, below formula is used:
r=annual interest rate/12
For example- If a bank offers you 18% of interest rate annually, your monthly interest rate will be:
18/12=1.5
Thus, 1.5% will be your monthly interest rate for personal loan.

Calculate Monthly EMI

Calculating the EMI is a bit difficult as compared to calculating the monthly interest rate. To calculate your EMI, you need to use the below formula:
E = P . r. (1+r)^n/((1+r)^n – 1)
In this-
E=EMI
P=Principal Loan Amount
r=Monthly Interest Rate
n=Monthly Loan Tenure

For example– If you have borrowed a sum of Rs. 10,00,000 from a bank at an annual interest rate of 10.5% (10.5%/12=0.875 monthly) for 10 years ( 10×12=120 months), your EMI will be:

Rs. 10,00,000 *0.00875 * (1 + 0.875)120 / ((1 + 0.875)120 – 1) = Rs. 13,493.

Now, you will pay Rs. 13, 493 for 120 months to repay your personal loan amount. Thus, your total payable=13, 493×120 = 16,19,220.

What are the Features and Benefits of Personal Loan EMI Calculator?

Accuracy

With the help of EMI calculator, one can get accurate data or information. Without this effective tool, there might be a possibility of you to make the mistakes.

Time Saving

If you calculate your monthly EMI with a pen and paper, it will surely take a lot of time. But, with EMI calculator, you can easily calculate your EMI within a few minutes.

Easy Comparisons

EMI calculator allows you to have easy comparisons within a few minutes. Yes, you can compare different banks simultaneously, and know different EMIs offered by them.

Endlessly Adjustable

The best thing about EMI calculators is the fact that you can use them endless times. Until and unless you are not sure or satisfied, you can fill the entries in the calculator n  numbers of times. You can many times re-adjust the settings and can get the end results.

It’s About More than Just the EMI

Many calculators apart from calculating your monthly EMI, give you a bit more. Yes, with interesting graphic representations, pie charts and tables, these calculators give you more than what you actually expect.

Personal Loan FAQs – Frequently Asked Questions

It is an unsecured (do not put any type of security) loan provided by a bank and non-banking financial company (NBFC) based on – income, previous credit record, repayment capacity, employment type and more.  A personal loan is available for salaried and self-employed.

What is personal loan?

This is a unsecured loan and helps you to meet your financial requirements. You don’t usually need to pledge any asset as collateral or security for availing personal loan. It is totally based on your credit record and CIBIL Score.

How to apply for personal loan?

You can apply easily online for personal loan at emicalculator-india.

What are the Interest Rates for Personal Loan?

Interest rate is the value that borrower have to pay on the principal loan amount.

What is Personal Loan EMI Calculator?

It is online tool that help to calculate personal loan emi, give you an idea about interest to be paid.

What are eligibility criteria for Personal Loan?

  • One must have a regular source of income.
  • Salaried individual, self-employed business person or a professional both are eligible.
  • One must have proper credit record and good CIBIL.
  • Final amount sanctioned will depend on your income and eligibility and some other factors as per the lender’s criteria.

What are the tenor options available?

You can choose a repayment period ranging from minimum 12 to maximum 60 months.

Can I foreclose or prepay my Personal Loan?

Yes, you can foreclose or prepay your personal loan, most of lender allow foreclosure after 12 EMI, it depend on lender to lender. And also you have to pay pre-closure charges of 2% -5% of principle loan amount. For prepay, payment can be made through cash, cheque or demand draft.

Is there any processing fee charges?

Processing fee is depend on bank to bank and lender to lender basically it is 2-4% of sanction loan amount.

top-up facility on existing Personal Loan?

Top Up facility is available for those who have paid 12 EMI on the existing Personal Loan. You can Place the request for Top up on existing Personal. The facility is based on your existing personal loan record.

How do I repay the Personal loan?

You can repay the loan in Equated Monthly Instalments (EMIs). You can pay your EMI through auto debit, ECS, PDC.

What is EMI?

Equated Monthly Installments (EMIs) give you the ease and benefit of paying back the personal loan amount in smaller convenient installments. The installments consist of both the principal and interest amounts.

Who can become a co-applicant?

For self-employed: Son, Daughter, partners with at least 51% Stake to be taken co-applicant, one director to be taken co-applicant.

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