Personal Loan EMI Calculator

Calculate your Personal Loan amount and EMIs

All fields are mandatory *

Please enter loan amount between 1,00,000/- to 30,00,000/-
Years Please enter loan tenure between 1 to 7 years
% Please enter interest rate between 9% to 13%

Your EMI

Your EMI
0
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Total Interest 0
Total Payout 0
Calculate Your Personal Loan EMI Online
A personal loan EMI calculator is a tool that enables you to calculate the EMI amount you’ll have to pay. You’ll need to enter details like the interest rate, loan amount, tenure, etc., to get the estimated EMI amount. This calculator can help you determine the EMI amount that will not put you under a financial burden.

What is Personal Loan EMI?

As the name suggests, a personal loan EMI (equated monthly instalment) is the amount that you repay to the lender until you repay the entire loan. The EMI amount consists of both the principal and the interest portion, and usually, the amount remains fixed throughout the loan tenure.

How to Calculate Personal Loan EMI?

When you apply for any loan, you must take your time to assess your current financial condition and determine the maximum amount you can borrow so the EMI is affordable. You can calculate the EMI manually, but the calculations can be overwhelming.

Formula to Calculate Personal Loan EMI

The formula for calculating EMI is-
[P x R x (1+R)^N]/[(1+R)^N-1]
In this formula-
P= The Principal Amount
R= The Interest Rate
N= The Tenure of Loan
It is better to use the personal loan EMI calculator to avoid the hassles of calculations and the risk of calculation errors. The EMI calculator is an easy to use online tool.

How to Use the Personal Loan EMI Calculator?

Using a personal loan EMI calculator is simple and requires no technical expertise. Just follow these steps:

Enter Loan Details
Input the loan amount you need, the tenure (in years or months), and the applicable interest rate.

Get Instant Results
The calculator will automatically generate your EMI amount, total interest payable, and total repayment amount.

Adjust and Compare
Modify the loan amount, tenure, or interest rate to explore different EMI scenarios and choose the most suitable option for your budget.

Make an Informed Decision
Use the results to plan your finances effectively and ensure the EMI amount fits comfortably within your monthly expenses.

This tool is free to use, available 24/7, and helps you compare different loan offers for smarter financial planning.

Personal Loan Amortisation Schedule

A personal loan amortisation schedule is a detailed breakdown of your loan repayment structure over the entire tenure. It shows how each EMI payment is distributed between the principal and interest, helping you track your loan repayment progress.

Here is an amortisation table for a ₹10 lakh personal loan at 10% interest over 5 years (60 months):

Month EMI (₹) Principal (₹) Interest (₹) Outstanding Balance (₹)
121,24813,7487,5009,86,252
621,24814,7636,4859,14,202
1221,24815,9335,3158,15,853
1821,24817,1864,0627,00,139
2421,24818,5292,7195,67,053
3021,24819,9691,2794,16,560
3621,24820,8823662,48,604
4221,24821,0701781,63,112
4821,24821,2262260,010
6021,24821,24800


Key Components of an Amortisation Schedule

- EMI Amount: The fixed monthly payment towards the loan.
- Principal Repayment: The portion of EMI that reduces the outstanding loan balance.
- Interest Payment: The portion of EMI paid towards loan interest.
- Outstanding Loan Balance: The remaining loan amount after each EMI payment.

Benefits of Using Personal Loan EMI Calculator

  • The personal loan EMI calculator allows you to do the complex EMI calculation within seconds and thereby help you save time, which you can use for other productive purposes.
  • It helps eliminate the inaccuracy in the calculation that may occur when you manually calculate the EMI.
  • It allows you to plan your repayment well in advance by providing accurate loan-related information, including the amortisation table.
  • You can compare the loan cost based on the interest rate of different lenders. This will allow you to find the most affordable loan offer.
  • A personal loan EMI calculator can help you set a budget. As you can use this calculator until you get the desired result, it will become easy for you to determine the amount of EMI that fits your budget.

What Factors Can Affect Your Personal Loan EMI?

There are various factors that lenders consider when determining whether to offer a personal loan to an applicant. Some of the important factors are-

Credit History


One of the first things that a lender will check is your credit score. If you have a high credit score, then you can get a personal loan easily. Your repayment history will also be checked by the lender. Any unpaid debt can lead your credit score to decrease. This will have a huge impact on your loan application. Therefore, it’s essential for you to maintain a good credit history in order to avail a loan conveniently.

Loan Amount


The loan amount you want to borrow is also an important factor for lenders. Your loan might get approved quickly in case you apply for a smaller loan amount. However, if you apply for a higher loan amount, then the lender might ask you to pledge collateral.

Surplus Income


While your income is a crucial factor, the surplus income remaining after paying EMIs is also important. In case you have a significant surplus amount left after EMI payments, you can get approval for the loan quickly.But if your surplus income is low, then the risk of your default will be high. This can impact your loan application, and it might also lead to loan rejection. Therefore, you must consider your surplus monthly amount before applying for a loan.

Loan Purpose


The loan purpose is the reason you want to borrow a personal loan. The reason you want to avail a personal loan is important for the lender.Lenders require your loan purpose to assess risk and determine loan terms. If you require a loan for a low-risk purpose, then getting it might become easy. However, if you want a loan for a high-risk purpose, then it will lead to greater scrutiny by the lender

Personal Loan EMI Calculator FAQs

Why Choose Personal Loan?

A personal loan can be taken for multiple purposes. It can be a great option in case a person needs to pay for a financial emergency or fund a big-ticket expense. Furthermore, the documentation process doesn’t require a lot of effort. Also, loan disbursement can be done quickly.

What Will Happen If Personal Loan EMI is not paid?

Your loan tenure will increase if you don’t pay your EMI. Also, if you default on EMI payments, then late payment charges will be levied on you.

Which is Better Personal Loan or Credit Card EMI?

Typically, the interest rate of a personal loan is lower than a credit card. Furthermore, the borrowing limit of a personal loan is based on the borrower’s proof of income, and the bank predetermines a credit card’s limit.

How do I Apply for a Personal Loan?

Fill the online application form with the required details and the loan amount. You would get a call from the representative within 24 hours.

How Do I Pay My EMIs?

EMIs will be deducted from your bank account every month.

What Tenure are Allowed for the Loan?

The maximum tenure can range from 1 years to 5 years or 12 to 60 months.

DisclaimerThe information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.