Loan Amount
A higher loan amount results in higher monthly payments. Before applying, useUse our personal loan calculator to see EMIs for different loan amounts and borrow only what you need.
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Get instant clarity on what you'll pay each month (EMI), the total repayment amount (Principal + Interest), and compare different scenarios — helping you choose a repayment plan that best fits your budget.
Your EMI is calculated using a standard formula that considers the loan amount, interest rate, and tenure. Understanding this formula helps you see how changes in rate or tenure influence your EMI.
Where:
P = Principal loan amount
R = Monthly interest rate (annual rate divided by 12 and expressed as a decimal)
N = Loan tenure in months
Here's a practical example:
Suppose you borrow ₹5 lakh at 10.99% annual interest for 3 years (36 months).
Principal (P) = ₹5,00,000
Annual interest rate = 10.99%, so monthly rate (R) = 10.99/12/100 = 0.009158
Tenure (N) = 36 months
Your monthly EMI comes to approximately ₹16,329.
Over 36 months, you'll repay a total of ₹5,87,844, including ₹87,844 as interest charges.
Your monthly EMI amount depends on several key factors. Understanding these is essential to helps you use the EMI calculator effectively and and choose the right loan structure.structuring your Personal Loan wisely.
Longer tenures meanreduces lower your monthly EMIs but increases higher the total interest paid over time. A sShorter tenures increases your monthly repayment but reduces overall interest. Our loan calculator lets you aUsedjust the tenure slider to findfind a your comfortable repayment period comfortable for you.
Get accurate EMI results in seconds without manual calculations or complex formulas.
Know your exact monthly commitment before applying.
Easily adjust loan amounts, interest rates, and tenures to compare multiple scenarios.
View both the principal and interest breakdown, so you understand the true cost of borrowing.
Use the EMI calculator as many times as you want, free of any charges or restrictions.
Click here to know more about different types of personal loan
If you want to reduce the EMI of your loan, you can opt for a higher tenure.
As you increase the loan term, your EMI reduces. Alternatively, you can reduce the loan amount to reduce the EMIs.
The lender fixes the personal loan interest rate. However, you can negotiate the rate if you have a higher income or a good credit score. So your EMI reduces if the lending institution agrees to lower the personal loan interest rate.
A personal loan amortization schedule is a loan repayment table.
An EMI Calculator can help you find out the EMI amount you have to pay every month against the amount of loan you wish to borrow for the tenure of your choice.
If you want to borrow a personal loan of Rs. 20 lakhs at an 11 % per annum rate of interest for a period of 5 years, you have to pay an EMI of Rs. 43,485 per month.
