Personal Loan EMI Calculator:
Calculate your monthly payments
Simplify calculating your loan cost with a personal loan EMI calculator. Enter the amount you wish to borrow, the repayment time, and the interest rate to get an instant view of your potential EMIs.
Loan amount
₹10,00,000
1 Cr
Duration of loan
2 Year
7 Years
Interest rates (P.A)
5.00%
35%
Per Month EMI
₹0
Principal amount
₹10,00,000
Interest
₹0
Total
₹10,00,000
Detailed calculations
Understanding Components of the Personal Loan Calculator:
Tenure:
The tenure is the period over which the loan is repaid, ranging from 12 to 36 months. Short tenures mean higher EMIs and vice versa.
Principal amount:
The principal amount is the total amount borrowed as a personal loan. Higher principal amounts result in higher EMIs.
Interest amount:
Applying the interest rate on the principal amount yields the interest amount divided and repaid monthly as part of the EMI.
Interest rate:
The interest rate is a predetermined percentage of the principal amount that lenders charge as a cost of borrowing that amount.
EMI (Equated Monthly Instalment):
This is the monthly repayment amount paid by the borrower until the tenure ends, which includes the principal and interest amount.
How to use the EMI Calculator
LOANS24’s personal loan EMI calculator is an easy-to-use tool to determine your EMI instantly. Enter and readjust the loan details to get an instant and detailed breakdown of the interest amount and EMIs.
Enter the loan amount
The first step in using the personal loan (PL) calculator is to enter the loan amount you plan to borrow.
Enter the tenure
The tenure will determine how high or low your EMIs will be. Choose a tenure that suits your repayment capabilities.
Enter the interest rate
Play around with the interest rate slider in the EMI calculator to see how it affects your total borrowing cost.
Instant outcomes
The PL calculator will display a detailed graph of the total cost of borrowing, your monthly EMIs, and interest amounts.
Need Help? Find Answers Here
What is an EMI?
How does an EMI calculator work?
What are the factors that affect the EMI for a personal loan
What is the difference between a fixed EMI and a floating EMI?
What information do I need to input into the EMI calculator?
Blogs
Insights and tips to help you navigate the world of finance
