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: Rupee image 4,402

Monthly amount paid to your Personal Loan provider

Break-up of all total amount payable
Loan Amount
25000Rupee image
Total Interest Due
756Rupee image
Processing Fee
500Rupee image
Loan Amount Via EMI
500Rupee image
Loan Amount Prepaid
500Rupee image
Total Interest
500Rupee image
Processing Fee
500Rupee image
Pre-payment Fee
500Rupee image
Total Amount Payable
26252Rupee image
Your loan details as specified by you
Loan Amount
25000Rupee image
6 Months
Interest Rate
Processing Fee
25000Rupee image

Your Amortization Details (Yearly/Monthly)

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

amortization chart
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 image 47,87,42610 yrs
With Pre-payment Rupee image 45,33,7238years 4months
YOU SAVE rupee0 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

  • Interest Subsidy to be scrapped for Crop Loans over Rs.3 Lakhs

    An expert panel from the government has recommended that the interest subsidy offered to farmers with crop loans above Rs.3 lakhs under the Rs.9 lakh crore farm credit scheme, should be scrapped. Currently, farmers with loans up to Rs.3 lakh have to pay an interest of 7% while this is reduced to 4% if the loan is paid within a year. Farmers with loans under the scheme of over Rs.3 lakhs are currently paying subsidised interest for amounts till Rs.3 lakhs beyond which the subsidies don’t exist. The government panel has recommended scrapping this subsidy while allowing increase in subsidy period for farmers unable to pay loans up to Rs.3 lakhs within a year.

    27th April 2016

  • Bajaj Finserv to offer new ‘EMI’ option on ecommerce platform

    Bajaj Finserv, vice-chairman, Sanjiv Bajaj, spoke of their interest in the startup ecosystem and plans of making strategic stakes in some of the fintech startups. He addressed a group of entrepreneurs at TieCon Pune last week saying, "I spent some time in Silicon Valley recently and met some of the startups, half of which were run by Indians, as well as companies like Amazon and Microsoft. We want to tap into the opportunities available there as well as in India and may look at investing in fintech companies, maybe even take a strategic stake if it makes sense for us."

    21st April 2016

  • RBI rate cut likely in August

    A report by Bank of America Merrill Lynch has stated that the Reserve Bank of India is likely to cut policy rates by around 25 basis points in the coming months. The rate cut are on the back of low industrial production growth, a better monsoon prediction and stable inflation. This is following a 0.25% rate cut in the current month, which saw rates reducing to 6.5%. Industry experts are calling for further rates cuts, hoping that these cuts will increase investments in the country.

    19th April 2016

  • Government Seeking Rs. 21,975 Crore Loan from NABARD

    The Central Government is seeking loans to the tune of Rs. 21,975 crore from the National Bank for Agriculture and Rural Development (NABARD) for the Pradhan Mantri Awas Yojana. The government proposes to build 1 crore houses in rural areas in the next 3 years with a total investment of about Rs. 81,975 crore. The cost of building a pucca house in village’s ranges from Rs. 1.2 lakh to Rs. 1.3 lakh depending on the terrain. The government aims to repay the loan through budgetary allocation after 6 years – post-2022.The new scheme plans to have all basic infrastructures – including electricity, potable water, toilets and other facilities – and expects the house to last around 30-35 years, said Union Rural Development Minister.

    18th April 2016

  • Reduction of lending rates makes Axis Bank’s shares go up

    There has been a gain of 1.82% in the stock value of Axis Bank which was in effect a gain of INR 441.35 in the Bombay Stock Exchange. The change in the stock was probably due to the fact that the bank decided to lower its base lending rate. The base lending rate is now the Marginal Cost of Funds based Lending Rate or MCLR for short. The lending rate of Axis Bank has been reduced by 15 basis points now. This inadvertently means better and cheaper loans for any interested customer.

    15th April 2016

  • SKS Microfinance May Cut Lending Rates by 10-15 Basis Points

    SKS Microfinance, the listed microfinance provider that helps the poorer sections with lending requirements, is planning to reduce its lending rates. This gives rise to the hope that other lenders will follow suit and micro loans will become cheaper. Dilli Raj, president, SKS Microfinance, said that the rates would be cut by 10 to 15 basis points within a month. SKS Microfinance has a customer base of over 50 lakh small borrowers, with outstanding loans worth Rs. 6,177 crore as on December 31, 2015. SKS is the only microfinance institution (MFI) to lend at a below-20% rate of 19.75%. Other MFIs are expected to lower lending rates by 25-50 basis points in the next 3 to 6 months since the borrowing cost is expected to fall.

    14th April 2016

  • Punjab Farmers to Get Interest-Free Crop Loan

    Amid an agricultural crisis, the government of Punjab has announced that farmers in the state can avail interest-free crop loan to the tune of Rs. 50,000 on each crop. The loan also allows farmers to repay in instalments after the crops are procured each season. Punjab became the first power-surplus state recently. The government now plans to connect all major cities in the state with 4 to 6-lane roads and highways. The project is likely to require an investment of over Rs. 22,000 crore.

    13th April 2016

  • RBI Repo rate slashed by 25 basis points

    Loans to come cheaper from banks across India as the Reserve Bank of India reduced the repo rate again by another 25 bps. That effectively makes the repurchase rate become 6.5% from an earlier 6.75%. The short term borrowing rates have been reduced from 6% to 5.75%.

    While savings schemes had a slash in rates, this in effect allowed RBI to bring the lending rate down further and make more of a lucrative offer to the citizens of India.

    12th April 2016

  • Cheaper Loans due to rate cut

    The repo rate cut from the Reserve Bank of India has by now become a commonplace news with almost three cuts done in the past year itself. The first cut of the current financial has come across now as RBI cut its lending rate from 6.75% to 6.5%. Since the repo rate or the lending rate of RBI is what decides the rates of interest charged on personal loans, it is expected that about a half percent reduction in such rates will happen in due course of time. From the statements made by the RBI’s governor, it could be expected that this five-year low rate could get even lower.

    7th April 2016

  • SBT announces marginal cost lending rates

    The State Bank of Travancore (SBT) recently announced new Marginal Cost Based Lending Rates (MCLR) on different tenors for advances and loans sanctioned by it from April 1. For an overnight tenor, the MCLR is 9.3% while tenors of one month and three months have MCLRs of 9.4% and 9.5% respectively. A six-month tenor has a MCLR of 9.7% while the MCLR for a tenor of one year is 9.8%. MCLRs for tenors of two and three years (fixed rate loans) are 9.9% and 10% respectively. All floating rate loans of the State Bank of Travancore of one year and above have been pegged to 9.8% (1 year MCLR). SBT customers have the option to switch to MCLR from the Base Rate system. The MCLRs are set to be under review every month as per RBI regulations.

    6th April 2016

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EMI Calculator
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