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

  • 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

  • Crop loan waiver - a breather for 17 lakh farmers

    Crop loan worth Rs.5,786 crore granted by Primary Agricultural Cooperative Societies to 17 lakh farmers in the state has been waived off by CM Jayalalitha. At the 63rd All India Cooperative Week celebrations, Minister for Electricity, Prohibition and Excise P.Thangamani said that the state’s cooperative societies were performing well. He also added that Rs.232.14 crore loan granted to 46,634 farmers in Namakkal district was also waived off. This waiver has come as a breather for farmers who struggle to manage their money lenders. In Namakkal district, farmers were granted adequate loans, which were repaid on time. 96% of the women self-help groups had made their repayments on time. Drought relief assistance of Rs.55.75 crore was given to a total of 41,200 farmers in the district. V.Saroja, Minister for Social Welfare, and Nutritious Noon Meal Programme said that a loan of Rs.2.28 lakh crore was provided to cooperative societies in the last five years, a first in the country.

    25th November 2016

  • Karnataka co-op bank seeks extension of repayment period for farmers

    In the light of the demonetisation, which has had a detrimental effect on the rural people and the farmers, the South Canara District Central Cooperative (SCDCC) Bank has requested the government to extend the date specified for farmers of the district to repay their loans. On behalf of the plight the farmers, M.N. Rajendra Kumar, president of SCDCC Bank, addressed the issue at the 63rd all-India cooperative week celebrations in Mangaluru, saying that the government should be adept to respond to the plight of the farmers - inconvenienced by the demonetization of Rs.500 and Rs.1,000 currencies- and expected to clear their dues at the primary agricultural societies (PACs) as of November 8, 2016. Keeping in mind that most farmers only hold PACs accounts, which are also following the demonetisation of high-valued currencies, the Karnataka Chief Minister, Siddaramaiah, has written to Finance Minister  Arun Jaitley, to look into issue immediately as he finds it impractical for them to open accounts in commercial banks during this period. DDC banks have disbursed farm loans of approximately Rs.10,400 crore of which Rs.2000 crore was expected to be paid back between November 8th till the end of December. Failure to do so would result in the farmers paying high interest rates and ineligibility to apply for loans for the Rabi crop.

    23rd November 2016

  • State Bank of Hyderabad Reduces the Marginal Cost of Funds Based Lending Rates

    The State Bank of Hyderabad has given a flat cut off on the Marginal Cost of Funds Based Lending Rates by 10 basis points, bringing it down from 9.55 % to 9.45%. According to a statement by the bank, the revised rates are effective from 1 Nov 2016. The statement also added that housing loans have been reduced to 9.45 percent per annum by the bank, which again is applicable from the same date onwards.

    21st November 2016

  • Dena Bank Reduces the Marginal Cost of Funds Based Lending Rate

    Dena bank on Tuesday announced a reduction in the marginal cost of funds based lending rate (MCLR) by 5 bps to 9.4%. As per the revised rates, the overnight MCLR is set at 9.15 % while one-year MCLR is at 9.40 %. According to an official statement from the bank, these revised rates will be applicable from 1 November 2016. The lowering of rates by Dena bank comes within a week after SBI and ICICI bank reduced their marginal cost of funds based lending rates.

    4th November 2016

  • Farmers in Chhattisgarh receive Interest free Crop Loans

    In an official statement released by the Chhattisgarh government on Saturday, it has announced the disbursement of interest free crop loans to farmers. The offer which is available only for a short period, covered more than 9.38 lakh farmers across the state. A total of Rs 2813 crores have been distributed by the government in this Kharif season, even though the funds initially allocated for zero interest crop loans were Rs 2800 crores. The practice of providing interest free loans to farmers was started by the government back in 2014, to cover both Rabi and Kharif season crops. According to APEX bank chairperson Ashok Bajaj, the farmers are also provided with farm equipment and other necessary materials.

    27th October 2016

  • State Bank of Patiala Receives Award for MSME Lending

    The State Bank of Patiala has received an award for the financial assistance provided to medium, small and micro enterprises in the region for the years 2013 – 14 and 2014 – 15 which saw a growth of Rs 2,597 crore for 2013 – 14 and Rs 994 crore for 2014 – 15. Devendra Kumar, General Manager and SA Ramesh Rangan, Managing Director of the State Bank of Patiala received the award on behalf of the bank in a National Award Ceremony held at the Punjab Agricultural University in Ludhiana on Monday, for which the Prime Minister of India, Narendra Modi was the chief guest. The Union Minister for Micro, Small and Medium Enterprises, Kalraj Mishra gave away the award. The bank has set up 30 MSME specialized branches with a view to maintain this momentum during the current financial year as well.

    24th October 2016

  • 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

How to Use
EMI Calculator
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