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

  • District Collector Anita Ramachandran asks banks to speed up disbursal of Crop Loans

    According to a source, District Collector Anita Ramachandran has asked banks under her ambit to speed up disbursal of crop loans up to Rs.1 lakh. In addition, she said that ‘no cash’ boards should not be displayed at the banks as sufficient currency was supplied to them and made it clear that the banks should not create any hurdles to farmers in drawing their loan amount as this was the time they purchase seeds and fertilizers for kharif.

    24th July 2017

  • Dedicated MSME and Retail loan centre established by Syndicate Bank

    Syndicate Bank has recently established a dedicated centre to cater to the needs of people looking to avail Retail and MSME loans in the Kharitabad region, Hyderabad. Services like loan assessment, processing, recovery, and sanction for various retail firms and Micro, Small and Medium Enterprises (MSMEs). These loan centres are set up to reduce the processing time for a loan and to also simplify the entire loan application and disbursal process. The centre in Kharitabad will act as a hub to 67 branches of Syndicate Bank. A simplified application form has also been announced by the bank in case an MSME or retail firm wants to apply for credit.

    18th July 2017

  • Maharashtra government waives off farmer loans from 2008

    The state government of Maharashtra has extended the loan waiver scheme to include farmers who had taken loans post 2008. Earlier the scheme, Chhatrapati Shivaji Maharaj Sanman Yojana, only covered farmers who had outstanding loans from 1 April 2012 to 30 June 2016. The chief minister also extended the deadline to repay overdue loans taken in 2016-17 to 31 July 2017. This facility is provided to regular payees of the loans. As per the one-time settlement scheme, farmers can make the loan repayments in four installments. Once three installments are repaid, the fourth one of Rs.1.5 lakh will be waived off by the government. Eligible farmers will have to approach banks to benefit from the scheme. They are also required to file an affidavit as proof of eligibility for the waiver.

    12th July 2017

  • Crop Loan Recovery by KDCC goes down by 12%

    The Kolhapur District Central Co-operative (KDCC) Bank has seen a 12% drop in crop loan recovery. In 2015-16, the bank recovered 92% of crop loans which were sanctioned but this value went down to 79% in the next year. Being the biggest lender in the district for term and crop loans, the bank is responsible for contributing about 55% of the total lending that happens in the district. According to KDCC, crop and term loans provided to farmers amounted to Rs.1,409 crore in 2016-17 but the bank managed to recover only Rs.1,123 crore.

    7th July 2017

  • Punjab to waive off loans of small farmers; will take 10 years to repay

    After the Punjab government agreed to waive off loans of marginal and small farmers, they estimate that it will take nearly 10 years to repay the banks. Currently, they have provisioned for less than one-tenth of the total loan amount that could come up to Rs.24,000 crore.The state government has specified that they have set aside Rs.1,500 crore for the waiver. The waiver will push Punjab’s fiscal deficit further by 4.8%. The state government is willing to fully back the loans and repay banks over a period of 10 years.Indian lenders are currently grappling over debts. The waiver on farm loans is expected to hurt credit discipline and increase inflation. The state government plans to cut expenses and explore all possible options to bridge the shortfall. The state government also assumes that the central government will lend a helping hand, in an act to save the farming community of the country. Punjab follows Uttar Pradesh, Maharashtra, and Telangana in foregoing loans to farmers.

    30th June 2017

  • MCLR Rates to be slashed by Allahabad Bank

    Allahabad Bank, the Kolkata based financial institution, has slashed their marginal cost of funds based lending rate (MCLR) and the new rates will come into effect from June 12th. The overnight MCLR has been reduced to 8% from the previous standing of 8.15%. MCLR for one month has been reduced to 8.10% from the previous rate of 8.25%. Allahabad Bank has also reduced the three month and six month MCLR which now stands at 8.30% and 8.40% respectively. The one year MCLR has also been reduced to 8.50% from the previous standing of 8.60%.

    12th June 2017

  • Canara Bank reduces MCLR by 0.05% for maturities

    Canara Bank, a public sector bank, has reduced the marginal cost of funds based lending rates (MCLR) by 0.05% for different maturities. According to the instructions provided by the Reserve Bank of India (RBI), every rupee loan and credit limits that are renewed from June 7, 2017, will follow the new tenor-based MCLR rates. The brand new MCLR will be 8.10% for overnight maturities. For 1-month maturities, the new MCLR will be 8.15% and for 3-month maturities, the MCLR will be 8.20%. For 6-month maturities, the new MCLR will be 8.35% and for 1-year maturities, the new MCLR will be 8.40%.

    9th June 2017

  • Star Mahotsav a success for Bank of India

    Bank of India recently conducted the Star Mahotsav, where bank executives arrived at the door step of its customers to make availing and disbursals of loans convenient. Star Mahotsav included recovery of bad loans, disbursement of retail loans including housing and vehicle loan, disbursement under MSME and agriculture and promotion of its products, including debit and credit card, POS machine, and internet banking service. Following the drive, the Bank commented and said that they managed to disburse about Rs. 46 crore under retail, while MSME and agriculture advances and could recover close to Rs. 3 crore from borrowers.

    8th June 2017

  • Union Minister Points out MSMEs Have Developed Considerably in the Last Three Years

    Mr. Hari Bhai Parthbhai Chaudhary, Union Minister of State of Tamil Nadu recently pointed out that micro, small and medium enterprises have displayed considerable growth in the past 3 years. On the occasion of the launch of new facilities at the Steel Cluster Services Salem Private Limited at Seelanaickenpatti, Mr. Chaudhary said loans amounting to Rs.1.44 lakh crore have been provided by the Micro Units Development and Refinance Agency Bank (MUDRA) to borrowers. Also, adequate steps have been taken to double the loan amount in the current year. Mr. Chaudhary also said that Centre has instructed MUDRA banks to give priority to SC/ST and women entrepreneurs when distributing loans. He said that all the respective departments in the States have been given the necessary funds, sans discrimination, and post demonetization, bank deposits have seen a phenomenal rise. Mr. Chaudhary also said that nearly 93% of industries in India are MSMEs, considering which the Centre is doing all in its means to provide not only financial but technological assistance to them. As a result, products which were being imported before are now being produced in India and being exported. The Central government will not give priority to youth and women when it comes to starting new units. These borrowers can obtain loans up to the amount of Rs.10 lakh from MUDRA Bank, without having to provide any security.

    6th June 2017

  • Bajaj Finserv and Viveks come together to create an EMI card

    Bajaj Finserv and Viveks, an electronics retail store, have partnered to release a co-branded EMI Privileges Card to enable individuals to buy goods in installments conveniently. The Chairman and Managing Director of Viveks, BA Kondaraman, says that customers have changed a lot over the last 50 years since when Viveks has been in the industry. People prefer purchasing goods through installments or through credit cards. This new Viveks-Bajaj EMI Privileges Card will provide you with EMIs, privileges, exclusive offers, etc. Bajaj Finance has entered the purchases segment by introducing this card. A lot of people are relying on EMIs for regular purchases such as groceries, clothes, daily essentials, etc. This concept of buying goods through an EMI card is quite prevalent in the Western nations.

    24th May 2017

  • Indian Overseas Bank Cuts their MCLR Rate by 10bps

    Indian Overseas Bank has cut their marginal cost of fund-based lending rate (MCLR) by 10 basis points from May 10 across all tenors. Starting from 10th May, 2017, Indian Overseas bank customers will be paying less lending rates. The new MCLR set by the Indian Overseas Bank is 8.55% for a period of one year. The new MCLR for overnight tenure is 8.35%, one month tenure is 8.40%, and the MCLR is 8.45% and 8.50% for three month and six month tenure, respectively.

    15th May 2017

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards

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How to Use
EMI Calculator
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