Personal Loan Emi Calculator Overview
Looking for a Personal Loan
and thinking that much will a personal loan cost you every month? Our Personal Loan EMI calculator
you Equated monthly
installments you need to pay every month to repay your loan. Personal Loan Interest rates generally start as low as
14.25% and you can take a Personal loan
for 1 to 5 years.
Use our Personal loan calculator
to calculate your EMI
and also get best personal loan offers from top banks in India and
How it works?
- Loan Amount: Enter the Personal Loan amount using the slider or the edit box you wish to
borrow. For better financial planning our
monthly outgoings (EMI’s) should not be more than 40% of your monthly income.
- Interest Rate: This is the Interest rate that is charged on the money borrowed. This rate is
monthly reducing balance.
- Tenure: Select the period for which you wish to take the Personal Loan. Generally personal
loan tenures range from 1 to 5 years.
- Processing Fees: Bank charges a processing fee at the time of disbursing a Personal loan.
Processing fees typically vary between 1% to
5% of the loan amount.
- EMI: By entering the four fields you can see your monthly EMI which you have to pay to the
lender to pay off your personal loan. Based
on your loan EMI output you can check your
personal loan eligibility in real
time at BankBazaar.com. Based on your eligibility BankBazaar will show you customized personal loan offers from
various banks. You can then select the best
offer and apply online.
- Break-up of your total amount payable: The EMI Calculator tool gives you the total personal loan amount
payable to the lender. Your
total loan amount payable is the sum of your loan amount (Principal), Interest payable and processing fees.
Gives you a monthly break-up of your personal loan payment. You can see the following
columns under the Amortization Table:
- Starting Balance: The starting balance of any given period corresponds to the principal amount
that is owed to the bank at the
beginning of that period.
- Interest Paid: This is the portion of your monthly payment that is applied towards interest.
This portion will keep reducing each
successive month as the personal loan matures. The rest of your monthly payment is applied towards the personal
- Principal Paid: This is the portion of your monthly payment that is applied towards the loan
principal. This portion will keep
increasing each month as the loan matures. The rest of your monthly payment is applied towards interest.
- Ending Balance: The ending balance of any given period corresponds to the principal amount
that is owed to the Bank at the end of that
- You can switch to Annual view of your personal loan amortization.