Your loan details
Break-up of all total

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Total Interest Due



Processing Fee



Total Amount Payable


Your Amortization Details (Yearly/Monthly)

Months Principal Interest Total EMI Balance

Personal Loan EMI Calculator

If you are banging your head on wall thinking how to manage your personal finances and enhance your lifestyle then here we are with a way out: Personal Loans. Now if you are still in confusion whether to go for a loan or not then here we have another way out that is EMI calculator. With EMI Calculator you can easily get the idea of how to manage your personal finances. Surviving in such economy like India, it is not an easy task to have a smooth and stable financial status. But if you are well equipped with market information and financial calculations then it will be much hassle free for you to take a stable financial decision to enhance your personal life.

Loan for Personal Use

Personal Loan is basically a handful of money that you borrow from your lender to upgrade your lifestyle. Travelling, interior of your new home, a newly launched gadget or a grand wedding – anything that enhance your personal life in any shape can be financed with easy personal loans. Banks and Non-Banking Finance Corporations provide personal loans in easy terms from minimum of Rs. 50000/- to Rs. 2,50,000/- and more for a specific period of time. You can avail the loan for any personal purpose like mentioned here.

Personal Loan EMI

Like all other loans like Home Loan, Car Loan, Business Loan and such one has to repay the loan amount to the lender in case of personal loan as well. This type of loan that is used for personal activities have shorter tenure than that of other loans like home, car or business. Mostly within 5 years the customer has to repay the loan amount including the interest payment.

EMI that is equated monthly instalment is a amount of money that a customer who is availing personal loan has to pay to his / her lender every month. It is a fixed amount of money that is calculated in the beginning of the loan depending on three basic variables, loan amount, rate of interest and tenure of the loan. The tenure of the loan depends on the amount you are availing and the EMI will be calculated on the basis of the tenure.

Personal Loan EMI Calculator

To calculate personal loan EMI we need to follow this simple formula. The formula consists of three mentioned variables that are how much money you are obtaining at which rate of interest and for how long. Let us assume a customer of us avails loan amount of Rs. 100000/- at the rate of 14% interest for 1 year. The total amount payable after a completion of the tenure will be Rs. 2, 06, 983/- including the interest payment and processing fee of 2% charged by the lender. The EMI will be same until you repay the entire amount to your lender.

Formula to Calculate EMI:

EMI = P.i.(1+i)^n / {(1+i)^n – 1}


  • P is the Loan Amount (here it is 100000/-)
  • i is the Rate of Interest (Here it is 14%)
  • n is the tenure (that is 12 months)

Why do we need to calculate EMI beforehand?

You definitely need to calculate the EMI for your personal loan before you avail it. If you are a salaried employee then you have a fixed amount of earning every month, if you are an entrepreneur then you might have faced a no-earning month as well and vice versa. In either case you have to check on your daily expenses to survive. When you are taking a loan you are promising your lender to repay that money back within fixed time along with all other charges. So it is necessary to get an idea how much cash outflow will take place every month before you jump into such loan market.

Personal Loan Part-payment: How does it work?

Part repayment does happen in loan markets. You avail a loan and you know you need to repay the money in a fixed amount. As mentioned that for an entrepreneur it can be a no-earning month sometimes or sometimes over-earning month as they don’t have fixed salary date. In that case if you feel you have enough money to repay a large part of your loan amount prior to your tenure completion then that can be done easily. If you do so the tenure of your personal loan will come down and on the other the interest payment will be less as the interest is calculated on the basis of principal amount that is left unpaid. You can easily compare and then apply for the personal loan you need with the help of our EMI Calculator.