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Personal Loan EMI

Personal Loan EMI


Calculate EMI of your personal loan and your loan repayment schedule in regular installments over a period of time within a minute


Personal Loan EMI


Enter the loan amount you wish to take

In how many years will you pay your loan back?

Interest Rate charged on the money borrowed


Personal Loan EMI


«BackYour Monthly Loan EMI: 10000

  • Download


  • Loan Amount1100000
  • Interest Due6700000
  • Total Amount6700000


  • Loan Amount6700000
  • Tenure10 Years
  • Interest Rate10.25%

Personal Loan Calculator

What is the calculator about?
The personal loan calculator helps one calculate the equated monthly instalments (EMIs) that has to be paid to the lender every month till the loan is fully paid.

The EMI is based on the personal loan amount, the tenure, and interest rate. On a given personal loan amount, interest rate and for a specific duration, the calculator will let you know how much EMI you have to pay.

How to use it
To arrive at the EMI, one has to input:

Loan amount - It has to be between Rs 50,000 and Rs 30 lakh
Tenure - The tenure has to be between 1 year and 5 years.
Interest rate - It has to be between 1 percent and 50 percent.

Interest rates may vary across lenders as different lenders may offer loans at different rates. For the interest rate, input the rate at which your lender is providing you the loan.

Use the slider to put in different personal loan amounts and tenure to arrive at the EMI at which you are comfortable with.

What it shows
The results will show three things -

a. The EMI - This amount is to be paid each month till the loan is fully paid.
b. The break-up - It shows the interest portion in each month's EMI. The rest is the principal being repaid each month.
c. The amortisation schedule - The amortisation schedule shows the break-up of the interest paid and principal repaid out of the EMI each month till the end of the tenure. The outstanding balance after paying each month's EMI is also shown in the amortisation schedule. This document can be downloaded as a PDF.

How the result arrived at
The formula used for arriving at the EMI is:

EMI = [P x R x (1+R) ^n] / [(1+R)^ n-1]

Here, P= Principal loan amount, R= Rate of interest, n= Number of monthly instalments.

An example:
Assuming, P= Rs 3 lakh, R= 15 percent per annum= 15/12= 1.250 per month, N= 60 months

EMI = =((300000*1.250/100*(1+1.250/100)^60/((1+1.250/100)^60-1))) = Rs 7,137

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