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

  • Bank of India reduces its lending rates on retail loans

    With a majority of the banks across the country reducing their lending rates after being flushed by the inflow of money caused by the demonetisation of the Modi-led government, even Bank of India has followed suit. With the marginal cost of funds based lending rates (MCLR) of the bank being dropped by 90 basis points, the Bank has reduced its lending rates for retail loans as of January 7. As a result, the home and vehicle loans have seen a drop in interest rates. The interest rate on home loans has been reduced to 8.70%, whereas vehicle loan interest rates have seen a drop to 9.35%. Loans against properties also have been revised to 10.50-11 % with women enjoying a 0.5% lower interest rate on all retail loans. The revisal of the interest rates for retail loans are effective immediately.

    10th January 2017

  • Rates for All Consumer Loans Hits 6 year Low

    The influx of funds in the banking system due to demonetization has spurred the government banks to cut loan rates across all types of loans like housing, auto and personal loans. UBI and SBI have slashed their lending rates by 0.9% while the PNB has cut its rate by 0.7%. Kotak Mahindra bank and the State Bank of Hyderabad cut their MCLR based rates by 0.10% and 0.20% respectively. Dena Bank cut its rates by 0.75%. The demonetization has led the banks to slash their rates to the lowest in 6 years for SBI. From January, 2015 the SBI has slashed its lending rates benchmark by 200 basis points. The Prime Minister in his address to the nation on New Year’s Eve asked the banks to give priority to lending to the middle class and the poor.

    5th January 2017

  • Government has disbursed Rs.60.9 CR Loans to women SHGS in the last 13 years

    In an attempt to empower women in the country and offer financial support, the government has recorded disbursing loans worth Rs.60.9 crore over the last 13 years to women categorized under the SHGs (self-help groups), under Chhattisgarh Mahila Kosh. Constituted in 2002 to empower women, a year later women were given loans of Rs.5,000 but in 2012-2013, the margin has increased to Rs.50,000 at an interest rate of 3%. Women were given a maximum repayment tenure of 36 months, and commencement of the repayment started three months after the sanction of the loan.

    27th December 2016

  • RBL bank cuts MCLR by 0.30%-0.45% for a number of tenures

    In an attempt to lure more people to avail loans and to benefit the already existing credit borrowers, the RBL bank cut the marginal cost of funds based lending rates (MCLR) by 0.30%-0.45%. The bank said that it reduced the MCLR by 30-45 base points across different tenures, with loans now having an interest rate of 9.70% for overnight and over the month tenure, 9.75% for a three month tenure and 9.80% for a six month tenure. Whereas, the interest rate now for a one year tenure is 9.85%, for two years is 9.95% and for three years is 10.05% respectively. The bank expects to see a lot more people availing loans after this reduced interest rate structure.

    26th December 2016

  • Farmers get an additional 60 days to repay their Crop Loans

    An inevitable result following the cash crunch caused by the demonetisation of high-value currencies by the Modi-led government, farmers have now found it difficult to repay their crop loans. Farmers who had availed loans for the Rabi crop season were due to repay their loans between November 1 and December 31, but the cash crunch put them on the back foot. A sigh of relief for them now, the government just announced that farmers will now get an additional 60 days as of today to repay their loans. For those farmers who do manage to pay their loans on or before the 60 day period, the government has now promised them a prompt repayment incentive for 2016-2017. Currently, the government is offering crop loans at an interest rate of 7% per annum and short-term crop loans at 4% per annum.

    22nd December 2016

  • Corporation Bank won the Best MSME Bank Award this year

    On 6th December, Corporation Bank won the Best MSME Bank Award 2016. Haribhai Parathibhai Chaudhary, Union Minister of State for MSME, presented the award to Jai Kumar Garg, MD and CEO of Corporation Bank, at a function in Delhi. This award is instituted by the Associated Chambers of Commerce and Industry of India (ASSOCHAM). The Best MSME Bank Award was created to honour banks that institutes best practices in MSME lending. Corporation Bank has 177 specialised branches for focused lending to the MSME segment.

    19th December 2016

  • 91% collection rate recorded by Ujjivan Financial Services in November

    In November, Ujjivan Financial Services has managed to make a large collection rate of 91%. The company disbursed loans worth Rs.553 crore in November. 65% of the loans disbursed were in cash and 35% were cashless. The cash-dominated microfinance sector was under pressure following the demonetisation of 500 and 1,000 rupee notes. After the announcement on demonetisation of high value notes, Ujjivan Financial Services had initially delayed its repayment from November 9 to 13. From November 14, collections and disbursals increased and Ujjivan Financial Services was successful in providing valuable support to its customers with continued loan disbursements.

    15th December 2016

  • To counter decline in business, NBFCs opt for e-payments

    Since November 8, when Prime Minister Narendra Modi took the stage to announce that his government would be withdrawing high-value tenders to counter black money, businesses have taken a hit - including NBFCs. In a move to counter their decline in business, non-banking finance companies have given their customers the option of remitting their dues via e-payments. NBFCs such as Manappuram Finance and Muthoot Fincorp, who are facing a 40-50% downturn since demonetisation, have given their customers the option of repaying through e-wallets, net banking, credit or debit cards and cheques. VP Nandakumar, managing director, Manappuram Finance, says that most customers faced problems making repayments because of the cash crunch and the fact that they stopped accepting old notes. He added that his company has encouraged customers to facilitate the use of online tools or pay by cheques for repayments.

    6th December 2016

  • Primary Agricultural Cooperative Credit Society Disburses Crop Loans to farmers

    With the whole economic system flung into chaos following the Modi-led government demonetizing Rs.500 and Rs.1,000 currencies, even the farmers preparing for the rabi season were not spared. The disbursal of crop loans from the Primary Agricultural Cooperative Credit Society was delayed following the cash crunch. Thankfully, Minister for Tourism Vellamandi N. Natarajan addressed the situation in the presence of Minister for Backward Class and Minorities S. Valarmathi and Joint Registrar of Cooperatives K.C. Ravichandra, saying that they have come to the aid of the 120 farmers with loans amounting to Rs. 64.95 lakh. He insists that the farmers will receive their loans as usual, just that now they will have to open a savings account in any closeby branch of Central Cooperative Bank. Upon receiving the loan, farmers were allowed to withdraw Rs.25,000 a week, while a portion of the loan will come in the form of fertilizers and necessities leading up to the rabi crop season

    5th December 2016

  • Rajkot District Co-Operative Bank comes to the aid of famers - gives Rs.1 lakh loan for Rabi crop

    With farmers preparing for the Rabi season left reeling following the demonetisation of Rs.500 and Rs.1,000 currencies, the Rajkot District Co-Operative Bank came to their aid by availing a Rs.1 lakh crop loan for the Rabi season. The loan however will be disbursed by the bank in 4 installments - Rs.25,000 with each installment. Vitthal Radadiya, chairman of RDC Bank, state that usually farmer use their earnings from the Kharif crop to buy Rabi seeds and avoid crop loans, but as a result of the cash crunch with the demonetisation, they have no option but to seek for the Rs.1 lakh loan to purchase the seeds. The chairman also said that their doors will be open on Sunday to accept loan applications from farmers and that no interest rates will be levied on these loans.

    28th November 2016

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EMI Calculator
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