Use Personal Loan EMI Calculator below or Get a Customized Personal Loan Quote Now
Get Lowest Rate Instantly With Our Personal Loan EMI Calculator
Equated Monthly Installments (EMIs) are the monthly payments you make in order to pay off your personal loan. On a
specific date every month, you will need
to pay your personal loan EMI. Your personal loan EMI depends upon your loan amount, interest rate and loan tenure. Use
the personal loan EMI calculator below to instantly get the lowest
personal loan EMI quotes from HDFC Bank, Fullerton & other leading banks.
Tell us about yourself and we'll find the best personal loan offers
Step 1 of 3
Looking for a Personal Loan
and thinking that much will a personal loan cost you every month? Our Personal Loan EMI calculator will give
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 Apply Online.
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.
Amortization Table: 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 loan principal.
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 period.
You can switch to Annual view of your personal loan amortization.