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

  • ESAF Bank Commences Operations in Tamil Nadu

    ESAF Bank, a small Kerala based finance bank, recently commenced operations in the state of Tamil Nadu, with their first branch opened in Thuneri near Nilgiris. Mr. Paul Thomas, Managing Director and CEO of ESAF Bank said the ban will soon have two other branches, one at Ilayamuttur in Tirupur district and another at Pumalaikkund in Theni district. The future course of action, for the next 3 months is to open 85 branches across the country. The bank is aiming at generating a business of ?20,000 crore in the coming 3 years.

    27th April 2017

  • J&K Bank announces winners of Digital Campaign via lucky draw

    J&K Bank has recently launched a two-day campaign to promote the bank’s digital products and also offer hassle free retail credit products like car loans, home loans, personal loans and cash credit. According to reports, the campaign saw widespread participation, especially by Civil Secretariat employees who were offered on-the-spot facility to open new accounts with instant Debit/Rupay cards and more.

    26th April 2017

  • Karnataka Government urged to waive Crop Loan

    Karnataka’s Bhartiya Kisan Sangh has requested the State Government to waive crop loan taken by farmers from cooperative banks, cooperative societies, and commercial banks. Yalandur Ranganath, the President of Sangh State said at a press conference that Karnataka has been experiencing severe drought since the last four years. Majority of the farmers struggle to repay their loans, as they have lost all their crop. He said that the government should help these farmers and give a waiver of crop loans of up to Rs.3 lakh. The government should also convert short-term crop loans into long-term without interest. The Sangh also urged the government to improve and strengthen the agriculture sector as well as the marketing system.

    19th April 2017

  • Loans extended to small business sector excels target of Rs.1.8 lakh crores

    The Pradhan Mantri Mudra Yojana has sanctioned loans to the tune of over Rs.1.8 lakh crores for 2016-17 which were meant for providing financial aid to the non-corporate small scale business sector. According to the Ministry of Finance, loans to the tune of Rs.1,80,087 crores were sanctioned to borrowers out of which 70% were women. About 5% of the borrowers were from Scheduled Tribes, 20% were from Scheduled Caste, and 35% were from Backward Classes. Out of this amount, Rs.1,23,000 crores was sanctioned by banks while Rs.57,000 crores was sanctioned by non-banking institutions. A target of Rs.2.44 lakh crores was announced by the Union Budget for Mudra Loans during the term of 2017-18.

    17th April 2017

  • Syndicate Bank’s Base Rate Slashed by 10 bps

    Effective April 10th, Syndicate Bank’s base rate will by 9.50%. The bank slashed its rates by 10 basis points bringing its rate down from 9.60%. The cut in the base rate will benefit some loan customers. With the scheme of demonetisation, banks received a massive influx of cash into their systems that gave them more funds to lend. Most banks have brought down their lending rates, but on the other hand, fixed deposit rates have also come down. There have been no changes to the MCLR and BPLR. The Marginal Cost of Funds Based Lending Rate was introduced by the Reserve Bank of India last year to ensure that banks regularly change their rates keeping in tune with the RBI repo rates. Currently, Syndicate Bank’s one-year MCLR is 8.75% and will remain unchanged even though the base rate has been slashed. Syndicate Bank’s BPLR stands at 13.85%.

    11th April 2017

  • SBI cuts base rate by 15 basis points, HDFC cuts 25 basis points

    Effective April 1st, 2017, SBI has slashed its base rate by 15 basis points. HDFC Bank has also brought down its rate by 25 basis points. The banks are currently offering interest rates of 9.10% and 9% respectively. This will benefit all customers who have taken loans before April 2016. The Reserve Bank of India had introduced the MCLR system in April last year. The marginal cost of funds-based lending rate was designed to bring in a new benchmark for lending rates with a provision to determine fund costs through a weighted average. SBI has not changed the 6-month and 3-year MCLRs and it will remain at 7.95% and 8.15% respectively.

    6th April 2017

  • SBI reduced their Base Rate to 9.1% but keeps MCLR unchanged

    One of the leading nationalised bank in India, SBI reduced their base rate by 15 bps to 9.1%. The new rates are effective from the beginning of the second quarter that is April, 2017. According to sources, only 30% to 40% of the total floating rate loans are based on MCLR while the remaining are linked to the base rate. By the end of September, about 15% or Rs.13,000 crores of home loans will be linked to MCLR while over 40% of their overall loans will be linked to the new MCLR system. However, the bank did not change its marginal cost of lending rate.

    5th April 2017

  • Kotak Mahindra Bank has shifted its focus to Corporate Loans

    Kotak Mahindra Bank has decided to offer corporate loans in the future. Usually, these kind of loans are offered by state-run lenders who are already battling to solve the bad assets issue. Kotak Mahindra Bank is aiming to increase the share of corporate loans in their portfolio to 40% in the next three years. So far, Kotak Mahindra Bank has acquired more than 500 large and medium-sized companies consistently every year. They have about 700 clients from conglomerates including clients like Tata and Aditya Birla Groups. The bank used to receive a return of 12% to 13%. This year, they are targeting at 21% by enhancing their non-capital based income such as fees, trade, and transaction banking.

    27th March 2017

  • 5 Associate Bank Branches to Merge With SBI

    According to a recent RBI announcement, 5 of SBI’s associated bank branches will be merged with SBI. Following the merger, the associated bank branches will function as SBI branches from April 1, 2017 onwards. The bank branches which will become a part of State Bank of India include all branches of State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM), State Bank of Patiala (SBP) and State Bank of Travancore (SBT). From April 1, 2017 onwards, all customers (including depositors) of State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore will automatically become customers of State Bank of India. In August 2016, 5 associate banks, in addition to Mahila Bank, merged with State Bank of India. Following the merger, State Bank of India will have an increased asset inventory of more than Rs. 37 lakh crore ($555 billion) along with a total number of 22,500 branches and 58,000 ATMs.

    23rd March 2017

  • HDFC Bank launches LAS plans

    HDFC Bank has launched a digital LAS (Loan against Securities) plan in alliance with the National Securities Depository (NSDL). Customers can now avail overdraft facility against various shares in three simple steps: selection of the shares that need to be pledged using net banking, receive and agree on the one-time password (OTP), and then pledge the shares with the help of NSDL through OTP. The bank has stated that customers with demat accounts can open a current account instantly after calculating their chances of eligibility for the overdraft limit. This facility is currently available for only demat shares and will soon be extended to securities like mutual funds, insurance policies, and bonds. This facility will allow borrowers to obtain the LAS, enhancement and withdrawals made online, and auto-renewal loan facility.

    17th March 2017

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EMI Calculator
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