Multiple banks. Different interest rates. Call it a "conflict of interest".

Personal Loan EMI Calculator

Recalculate your Personal Loan EMI and Total Interest Due in a snap!

Your Personal Loan Details

Use the slider to alter your Personal Loan details.

Loan Amount
Loan Amount:
Interest Rate in %:
Processing Fee: (% of loan amount)
Would you like to make Pre-payments?
Pre-payment Frequency
Pre-payment starts in
Pre-payment amount
Loan Completion Month
Pre-payment Fee %
Pre-payment Applies to

Your Monthly Personal Loan EMI: Sprite 4,402

Monthly amount paid to your Personal Loan provider

Break-up of all total amount payable
Loan Amount
Total Interest Due
Processing Fee
Loan Amount Via EMI
Loan Amount Prepaid
Total Interest
Processing Fee
Pre-payment Fee
Total Amount Payable
Your loan details as specified by you
Loan Amount
6 Months
Interest Rate
Processing Fee

Your Amortization Details (Yearly/Monthly)

Your debt repayment schedule in regular instalments over a period of time.

Tab amortization
Principal Paid Interest Paid Outstanding Loan BalanceO/S Balance(Without Pre-payment) O/S Balance(With Pre-payment)
Year Principal Paid(A) Interest Paid(B) Total Payment (A+B) Outstanding Loan Balance Pre-payment
Pre-payment Analysis

(We've broken it down for you!)

SummaryTotal AmountTenure
Without Pre-payment Rupee 47,87,42610 yrs
With Pre-payment Rupee 45,33,7238years 4months
YOU SAVE Sprite 0 YOUR TENURE REDUCED BY 1 years 8 months
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How to use's Personal Loan EMI calculator to understand your Personal Loan Repayment

Loan parameters needed for using the EMI calculator:

  • You need to know the loan amount, processing fee and the interest rate of your car loan, home loan or personal loan. If you plan to prepay your loan, then figure out the exact or approximate amount you intend to prepay and the periodicity of such payments depending on your loan agreement.
  • Use the sliders and input boxes provided in the calculator to key in or match these loan parameters.
  • The calculator will then work out the exact pattern of your loan repayment. Aspects such as the amortization table, the total interest outgo, the timelines of your loan repayment etc. will be displayed in accurate detail enabling you to make smart loan decisions!

Read on to learn how you can figure out the functionality of the different loan parameters and what role they specifically play in your loan repayment pattern. EMI calculator is a fantastic tool that can help you manage the various loan parameters to become debt free in the most efficient manner possible.

  • 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 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.
  • 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.
When you decide to take a personal loan one of the most valuable tools you will ever use with regards this loan is the Personal loan EMI calculator. Unlike home or car loans, a personal loan can be one of the most convenient sources of funds since it does not come with any conditions attached to how the money is used. There are even banks that can approve really high amounts that can be borrowed but the question that can stump most people is with regards the amount that should be borrowed. There are a lot of things that need to be taken into consideration when deciding on the ideal amount to borrow. There is the consideration of the amount that you want to borrow, the amount you will have to pay as interest, the duration for which you want to take the loan and, of course, and the interest rates. There is also another question that needs to be answered and that is about the bank of NBFC (Non-Banking Financial Company) that you should approach. It is the personal loan EMI calculator helps you make these decisions.
As with all EMI calculators, the Personal Loan EMI calculator is a tool that you can use to determine the monthly instalments that you will have to pay for a personal loan that you might be planning on taking. If you are to consider the questions mentioned earlier then too the EMI calculator can help. Questions regarding loan amounts, tenures, interest rates and monthly payments are the first things that you need to consider. When you get down to answering the first three questions, you will get all the basic data that you will need to be able to use the calculator efficiently.
The basic principal behind the personal loan equated monthly instalment calculator are two particular formulae. The first one is the one used to calculate the monthly interest rate and the second one is the one used to calculate the EMI itself. Here is how these formulae work:

  • Calculating the monthly interest rate: When you approach a financial institution in order to take a personal loan, the main piece of information you are looking for is the interest rate that is being offered. Once you know it, and before you start using it to calculate the EMI, you need to convert the rate into a monthly one since the interest rate is always presented as an annual rate. To do so, the following formula is used. Interest rate/12 For example if the interest rate offered to you for your personal loan is 18% per annum then your monthly interest rate will be calculated as so: 18/12 = 1.5 This means that the monthly rate of interest will be 1.5%.
  • Calculating the EMI Calculating the EMI is a bit more complicated. It takes into account the amount you want to borrow, the duration you want to borrow for and the interest rate that you will be charged. The thing to note here is that when you consider the tenure of the loan, you won’t consider it in years, but in months. To find the EMI the following formula is used: E = P x r x (1+r)^n/((1+r)^n – 1) Here:

    • E will be the actual EMI that you will have to pay.
    • P will be the loan that you want to take
    • r is the monthly interest rate that is being offered
    • n is the tenure of the loan considered in months

    Once all the relevant details have been entered into the calculator, it will tell you the amount you will need to pay every month for the loan.
The biggest advantage that a personal loan EMI calculator provides is the convenience of performing complicated calculations with precision and within just a few minutes. However, there are some other advantages of an EMI calculator too. They are:

  • Accuracy: If you were to perform this calculation manually, with a pen and paper, the chances are that you will end up making a mistake sooner or later and these changes will increase dramatically, depending on the number of times you need to do the calculation. With this tool you will be able to perform the same calculation accurately within seconds.
  • Save time: Speaking of seconds, the pen and paper method can take a lot of time which means that you could be sitting calculating away to glory when you should really be out enjoying life with your family. With the calculator you can do just that because this tool will allow you to do multiple calculations in minutes.
  • Easy comparisons: Speaking of multiple calculations, it is but natural that different banks will offer you various permutations and combinations of loan amounts, tenures and interest rates. To actually sit and calculate an EMI for each one of them could turn into a tedious task and may end up, through an error in calculations, leading you to the wrong loan. With the calculator you can quickly evaluate the EMI for different loans to see which one suits you best.
  • Fit loans to budgets: If you are going in for a personal loan then odds are that you will be concerned about the EMI that you need to pay. It would be natural to be concerned since that is an expense that your monthly income will now have to bear. How this calculator can help sort this problem out is but showing you the EMI and giving you the numbers you need to calculate your monthly budget.
  • Endlessly adjustable: There is no limit to the number of times you can calculate and recalculate an EMI. Suppose you found a bank that will offer you the loan amount you want and that too at an attractive interest rate. What you need to do now is to see how much you will pay every month for it. You do that and find out that the EMI is too high for you to afford but it’s not really a problem because you can easily re-adjust the tenure or the loan amount till such time as you can arrive at an EMI that suits your pocket.
  • Processing fee accounted for: While the basic EMI calculator for personal loans will only take into account the amount borrowed, the tenure and the interest rate, there are calculators that also take into account the processing fee that the bank will charge and tell you how much your EMI will be including that fee.
  • Tell you more than just the EMI: These calculators don’t just tell you the EMI you can expect to pay but also tell you a bit more. For example some provide a graphic representation of the loan along with an amortisation table too.
While most EMI calculators for personal loans will end the interaction by providing you with the EMI, there are some that go a bit further. These calculators will also provide you with two other pieces of information that can prove invaluable to you when it comes to know how your loan will be structured and how it will progress. These two pieces of information are provided through the graphic representation and the amortisation table.

  • Graphic representation When you are done entering all the relevant data and have already been told what you can expect to pay every month, there is still one thing you need to know. And that one thing is the structure of the loan. Personal loan EMI calculators can tell you the basic structure of your loan by calculating the total amount that you will end up paying over the years and what part of that payment will be your principal and what part the interest. This information can be presented to you in the form of a pie chart or any other manner that manages to represent the information pertinent to the loan. The advantage of this tool is that a quick look at it and you will know exactly how much you will end up paying back and how much of that amount will be paid as interest; A thing of importance if you don’t want to end up paying too much in interest. This tool can also help you affirm your decision to take the loan.
  • Amortisation tables The amortisation table is actually just the repayment of the loan split into years and months and presented in the form of a table. However, the reason why this table is important is that it shows you how the EMI that you pay is being used by the bank. It can show you things like how much of your initial payment will be towards the interest and how much towards the principal. It can also show you how the loan will progress in terms of years and what you will still owe at the end of each year.
All in all there is no denying the fact that if you intend to take a personal loan then a Personal loan EMI calculator can be your best friend in helping you make the right choice and pick the best personal loan for you.
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Further Reading

Top picks from our Financial Expert

News About Personal Loan EMI Calculator

  • Axis Bank Reduces 5 Basis Points on their Lending Rates this Festive Season

    Marginal cost of funds based lending rates (MCLR) is very important while lending finance. Many leading banks have reduced their MSLR rate this festive season to boost sales. After the monetary review was released by The Reserve Bank of India on October the 4th many financial institutes further reduces their lending rates. ICICI Bank, Syndicate Bank, Kotak Mahindra Bank, are few of the banks that revised their lending rates. Axis Bank also reduced their MCLR by 5 basis points on all tenors offered by them. The bank confirmed in a press meeting that they have reduced their MCLR on overnight lending rate and have brought it down to 8.80% and their current three year lending rate is 9.35%.

    20th October 2016

  • Reduction of MCLR in Syndicate Bank

    Syndicate Bank has decided to reduce its MCLR (Marginal Cost of Fund-Based Lending Rate) from October 7 onwards. The overnight MCLR has been reduced from 9.40% to 9.30%. The one-month MCLR has fallen down to 9.35% from 9.45%. The three-month, six-month and one-year MCLR has been reduced to 9.35%, 9.40% and 9.45% respectively.

    17th October 2016

  • Punjab National Bank Ameds their Lending Rates

    PNB recently made changes to their lending rates. They revised their MCLR as of October 1st, 2016. India’s second largest public bank would now charge about 9.05% to 09.60% p.a MCLR. Many leading banks have put aside the base rate system and are now following the RBI-introduced MCLR method to charge interest rates. Punjab National Bank will now charge 9.05% p.a for overnight loans, 9.2% p.a for 3 months term, 9.3% for one year, 9.45% for 3 years and a fixed 9.6% for five years term. This may have an affect on many financial products including personal loans.

    13th October 2016

  • Reduction in MCLR for Karnataka Bank

    Karnataka Bank has decided to reduce its MCLR (Marginal Cost of Fund-Based Lending Rate) by five basis points from October 1 onwards. The overnight MCLR has been reduced to 8.90%. The one-month MCLR has fallen down to 9%. The three-month, six-month and one-year MCLR has been reduced to 9.05%, 9.10% and 9.15% respectively.

    7th October 2016

  • Reduction in Lending Rate Follows after a decline in Liquidity Injection Rate

    Many prominent banks have reduced their lending rate after Reserve Bank of India(RBI) declines its liquidity injection rate by 25 bps(basis points). Banks such as ICICI Bank Ltd, Punjab & Sind Bank and State Bank of India have cut their lending rate by 5 bps. According to Rajeev Anand (group executive at Axis Bank Ltd), more reduction can be expected in the months ahead. With the change in the liquidity scenario, the lending rates will keep changing. Urijit Patel (RBI governor) has stated that they are hoping to increase the transmission through marginal cost of funding-based lending rate (MCLR) calculation. However, the decrease in lending rates have been quite slow. Recent data shows that in case of public sector, the lending rates have been cut by 15 bps and in case of private banks, the value is 25 bps.

    7th October 2016

  • Minimum Lending Rate Falls By 0.05% in Bank of India

    Bank of India has revealed that from September 30th onwards, the base rate will be 9.65%. Currently, it is 9.70%. Any lending below the base rate cannot be undertaken by the banks. Shares in Bank of India ended 3% higher at Rs.120 on the BSE (Bombay Stock Exchange).

    4th October 2016

  • SBI Targets 12% Growth of SME Loans

    State Bank of India has set its targets for SME loans for this year. The bank is hoping to grow the small and medium enterprise loan segment by 10% to 12%. Last year, the SME loan segment’s growth was hampered by a sluggish economy. This took a toll on SBI’s financials. SBI is taking steps to gradually improve their order book position and cash flows in ordered to reach the new growth target. If the cash flows are improved, then the targets are said to be feasible and reachable by this fiscal end. As for the overall growth of the loan segment, the bank has set its targets at 13% to 14%. However, the corporate sector is still under stress and officials are not optimistic about its growth.

    3rd October 2016

  • SBI targets minimum 12% growth in SME loans

    India’s largest lender, State Bank of India, plans to achieve a minimum of 10-12% growth in offering loans to small and medium enterprises this year. This target has been set as there has been a gradual improvement in their cash flows and order book status amid corporate sector lows. SBI’s SME lending did not see any growth in the previous financial year owing to a slow economy. Managing Director of SBI, Rajnish Kumar, believes that the targeted growth is feasible. However, the bank will aim at an internal target of 14-15%. SBI is also directing its focus on receivable-based funding and supply-chain financing.

    20th September 2016

  • Interest-free Agri Loans to be disbursed by Bajaj

    Chairman of State Cooperative Bank, Ashok Bajaj has announced disbursal of interest-free agricultural loans worth Rs.2,800 crore during this year’s Kharif season. The apex bank in Chhatisgarh will disburse these loans through its primary agriculture cooperative societies. Already, Rs.2,559 crore in the form of short term crop loans, has already been granted at 0% interest to 9.29 lakh farmers. Out of the total disbursed amount, Rs.17,477 crore has been distributed in the form of cash, while Rs.8,119 crore in the form of agricultural related materials. The State Government and Centre will bear the interest incurred on loans.

    16th September 2016

  • SBI May Cut 25 Basis Point from Interest Rates

    Arundhati Bhattacharya, State Bank of India recently stated that the bank is thinking of a 25 basis interest rate cut as it will help the economy and the banking sector in India. A 60 year old banker stated in a brief interview with IANS that the government fixed 4% inflation rate is very low in a developing country like India. She further stated that inflation rate will come down in the next few months.

    13th September 2016

How to Use
EMI Calculator
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