Personal Loan EMI Calculator – Know Your Monthly Instalment Before You Apply
This Personal Loan EMI Calculator helps you estimate your monthly installment based on the loan amount, interest rate, and repayment tenure you choose. Enter these three values and instantly see your EMI, total interest payable, and the total repayment amount. Use it to compare different loan combinations before finalising a loan.
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Personal Loan EMI Calculator
EMI Calculation Results
What is a Personal Loan EMI Calculator?
A Personal Loan EMI Calculator is an online tool that calculates your monthly installment on a personal loan. Enter the loan amount, annual interest rate, and repayment tenure, and the calculator returns your EMI, total interest payable, and the overall amount you will repay. It helps you compare different loan amounts and tenures before you decide to apply.
How to Use Personal Loan EMI Calculator – 3 Step Flow
Streamline your finances with an easy, automated process — calculate, plan, and achieve your financial goals.
Input Loan Amount
Enter the amount you wish to borrow.
Set Interest Rate
Choose the expected interest rate per annum.
Select Tenure
Pick your repayment duration in years.
How is Personal Loan EMI Calculated?
Personal loan EMIs are calculated using the reducing-balance formula: EMI = [P × R × (1 + R)^N] ÷ [(1 + R)^N – 1], where P is the principal loan amount, R is the monthly interest rate (annual rate ÷ 12 ÷ 100), and N is the tenure in months. This ensures interest applies each month only on the remaining balance.
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