Personal Loan EMI Calculator

The personal loan EMI calculator is a convenient, always-available internet tool. Using a simulation, a personal loan EMI calculator can assist you in determining the EMI amount based on the loan's principal, term, and interest rate. Pre-planning and balancing your financial intake and outflow will ensure that you never run out of money. It is an efficient and straightforward method.

Using three sliders to represent the Loan Amount, Loan Tenure, and Interest Rate, a formula box may be used to calculate Personal Loan EMIs. The calculator will display the EMI (Equated Monthly Installment) amount that you must pay the bank each month in order to pay back the loan once you have entered the necessary information.

EMI Calculator



% Interest



Total Payable

How to calculate Personal Loan EMI?

Here is the formula for calculating personal loan EMIs:

EMI = [P x R x (1+R) ^N] / [(1+R) ^ N-1]

The preceding formula for calculating personal loans uses the letters P, R, and N to denote the three parts that make up equivalent monthly payments for a personal loan.

P = Principal amount
R = Interest rate
N = Loan tenure
Lets Take,
Principle = RS.10,00,000
Annual interest rate =10.5%
Loan tenure = 10 Years or 120 months
EMI = RS.13,493

You can better comprehend the formula above by looking at the following table. Consider that the principle or borrowed amount in this instance is RS.10,00,000. The annual interest rate is 10.5 percent. The interest rate is determined monthly via this formula. R must therefore equal the annual interest rate divided by 100. R = 10.5/12/100 = 0.00875, because the interest rate in this case is 10.5% annually.

Rs. 10,00,000 *0.00875 * (1 + 0.875)120 / ((1 + 0.875)120 – 1) = Rs. 13,493

RS.13,493 will be the calculated EMI. So, in order to pay back the entire loan amount, you must pay RS. 13,493 over the course of 120 months.RS. 13,493 multiplied by 120 equals RS.16,19,220, which is the total sum due. Included in this is interest paid on the purchased debt of RS. 6,19,220.