₹

%

Monthly EMI | ₹86 |

Principal Amount | ₹1,000 |

Total Interest | ₹32 |

Total Amount | ₹1,032.00 |

Planning to apply for a personal loan ? Wait! Take control and plan your finances beforehand with a Personal loan EMI calculator. An EMI calculator is a trusted tool that helps you to arrive at a well-calculated understanding of your monthly EMI for your loan amount and tenure period. Now with a very less complicated process and simple inputs, you can now plan your personal loan repayment options.

Now, get a precise and comprehensive estimation of your Equated Monthly Installments you should further read the details on how to does a personal loan EMI calculator work.

A personal loan EMI calculator uses the following formula to compute the Equated Monthly Installment aligned to your personal loan amount. However, you can also calculate the EMI manually using the same formula:

Here’s the formula that is used to calculate your EMI,

**E = [P × r × (1+r)^n] / [((1+r)^n) - 1]**

Here in the equation,

- E stands for EMI
- P stands for principal loan amount
- R stands for the monthly rate of Interest
- N stands for tenure period.

if you are planning to avail of a personal loan of ₹5 lakhs, with an l l interest rate of 10.25% p.a, for a loan the tenure of 5 years, then here's the payable EMI:

Outline:

- P = ₹5,00,000
- Annual interest rate = 10.25% p.a
- R = 10.25% / 12 / 100 = 0.00854 (approximately)
- Loan tenure in years = 5
- Number of monthly installments (n) = 5 * 12 = 60

Now, let's substitute these values using the personal loan EMI calculator formula :

EMI = [5,00,000 * 0.00854 * (1 + 0.00854)^60] / [(1 + 0.00854)^60 - 1]

EMI = ₹10,848.59

So, the EMI for a ₹5,00,000 personal loan at an interest rate of 10.25% per annum for a tenure of 5 years would be approximately ₹10,848.59.

**Looking for other loan calculators? Check it here:**

Effortlessly estimating Equated Monthly Installments, will help you to plan, budget, and step into a loan journey with confidence. Hence, Personal Loan EMI calculator benefits borrowers in remarkable ways especially for managing your personal loan repayment plan. Here are the major key advantages of using an EMI calculator for a personal loan:

**User-Friendly:**EMI calculators are also easily accessible online and are user-friendly. Explore different loan options and calculations without needing to visit a bank branch.**Easy Loan Comparison:**Now, by providing the details about the desired loan amounts, interest rates, and tenures, the calculator will provide a clear understanding of your loan repayment scenarios.**Quick Decision-Making:**Get can quickly assess various loan scenarios and determine how different factors impact can impact the monthly payments. This will speed up the decision-making process and help to choose the most favorable terms.**Better Financial Management:**Personal loan interest EMI calculator assists in budgeting expenses and managing finances better. Knowing the monthly EMI amount helps in managing finances ensuring that they can comfortably manage their loan payments.**Transparency:**EMI calculators help borrowers understand the components of their loan repayment, including the principal and interest portions. This builds transparency, trust that helps you to be aware of your financial commitments.**No Hidden Costs:**By accounting for the loan amount, interest, and tenure, the personal loan monthly interest calculator provides a clear picture of the total cost of the loan. This prevents encountering any hidden charges or expenses during the repayment period.

Now that you are familiar with the advantages of EMI calculations, you can calculate your EMI by manually computing it. Alternatively, you can also utilize an **online EMI calculator** to arrive at an accurate estimation.

With its user-friendly interface, a online personal loan EMI calculator simplifies the process, helping you to be aware of essential aspects such as loan amount, interest rate, and repayment period.

Here are these features that make it an encouraging tool to use,

**Loan Amount:**Users can input the loan amount they wish to borrow as a personal loan.**Interest Rate:**The calculator allows users to input the annual interest rate or APR (Annual Percentage Rate) associated with the loan.**Loan Tenure:**Users can specify the duration or tenure of the loan in months or years.**EMI Amount:**The primary output of the calculator is the equated monthly installment (EMI) amount, which is the fixed sum.

Ready to take the next step? Apply for a personal loan now!

- Buddy Calculators
- FD Calculator
- RD Calculator
- EMI Calculator
- SIP Calculator
- MF Calculator
- PPF Calculator
- NSC Calculator
- EPF Calculator
- GST Calculator
- Simple Interest Calculator
- Compound Interest Calculator
- Sukanya Samriddhi Yojana (SSY) Calculator
- Mahila Samman Saving Certificate Calculator
- NPS Calculator
- APY Calculator
- Gratuity Calculator
- TDS Calculator
- Senior Citizen Saving Scheme Calculator
- KVP Calculator
- Post Office FD Calculator
- Post Office RD Calculator
- Post Office Monthly Income Scheme Calculator

- SBI Personal Loan EMI Calculator
- PNB Personal Loan EMI Calculator
- HDFC Bank Personal Loan EMI Calculator
- IDFC Bank Personal Loan EMI Calculator
- ICICI Bank Personal Loan EMI Calculator
- Bank of Baroda Personal Loan EMI Calculator
- Kotak Personal Loan EMI Calculator
- Axis Bank Personal Loan EMI Calculator
- Bank of India Personal Loan EMI Calculator
- Induslnd Bank Personal Loan EMI calculator
- IDBI Bank Personal Loan EMI Calculator
- Bandhan Bank Personal Loan EMI Calculator
- Union Bank of India Personal Loan EMI Calculator
- Indian Bank Personal Loan EMI Calculator
- RBL Bank Personal Loan EMI Calculator
- Yes Bank Personal Loan EMI Calculator
- Canara Bank Personal Loan EMI Calculator
- Indian Overseas Bank Personal Loan EMI Calculator
- Standard Chartered Personal Loan EMI Calculator
- UCO Bank Personal Loan EMI Calculator
- Citi Bank Personal Loan EMI Calculator
- Central Bank of India Personal Loan EMI Calculator
- Federal Bank Personal Loan EMI Calculator

- Navi EMI Calculator
- Bajaj Finance Personal Loan EMI Calculator
- Mpokket EMI Calculator
- LoanTap Personal Loans EMI Calculator
- KreditBee Personal Loan EMI Calculator
- MoneyView EMI Calculator
- Tata Capital EMI Calculator
- L&T Finance Personal Loan EMI Calculator
- Fullerton Personal Loan EMI Calculator
- Cashe Personal Loan EMI Calculator
- Stashfin Personal Loan EMI Calculator
- Muthoot Finance Personal Loan EMI Calculator
- Incred Personal Loan EMI Calculator
- Lendingkart Business Loan EMI Calculator
- Fibe Personal Loan EMI Calculator
- Dhani Loans EMI Calculator
- Faircent EMI Calculator
- Money Tap Personal Loan EMI Calculator
- HDB Personal Loan EMI Calculator

- SBI FD Calculator
- HDFC FD Calculator
- Axis Bank FD Calculator
- ICICI Bank FD Calculator
- PNB FD Calculator
- Canara Bank FD Calculator
- Bank of Baroda FD Calculator
- Kotak Mahindra Bank FD Calculator
- IndusInd Bank FD Calculator
- Union Bank FD Calculator
- Yes Bank FD Calculator
- Bank of India FD Calculator
- Indian Bank FD Calculator
- IDFC Bank FD Calculator
- UCO Bank FD Calculator
- IDBI Bank FD Calculator
- RBL Bank FD Calculator
- Central Bank of India FD Calculator
- Karnataka Bank FD Calculator
- Bank of Maharashtra FD Calculator
- Federal Bank FD Calculator
- KVB FD Calculator
- TMB FD Calculator
- CUB Bank FD Calculator
- Indian Overseas Bank FD Calculator
- South Indian Bank FD Calculator
- Allahabad Bank FD Calculator
- JK Bank FD Calculator
- Dhanlaxmi Bank FD Rates
- Catholic Syrian Bank FD Calculator
- LVB FD Calculator
- Nainital Bank FD Calculator