Personal Loan EMI Calculator
Plan your personal loan with our comprehensive Personal Loan EMI calculator
Personal Loan EMI Calculator
Select Currency
Monthly EMI
₹0
Total Interest
₹0
Total Payment
₹0
Loan Amortization Schedule
Payment Schedule
How to Use
- Select your preferred currency using the currency selector
- Enter the loan amount you need
- Set the interest rate offered by the lender
- Choose the loan tenure in years or months
- The calculator will automatically update the results
- Explore the graph to visualize your loan amortization schedule
- Review the detailed EMI payment schedule table
- Adjust the parameters to see how they affect your EMI and total payments
How It's Calculated
The Personal Loan EMI calculator uses the following formula:
EMI = [P * R * (1+R)^N] / [(1+R)^N - 1]
Where:
- P = Principal loan amount
- R = Monthly interest rate (Annual rate / 12 / 100)
- N = Total number of monthly installments
About Personal Loans
Personal loans are unsecured loans that can be used for various purposes. These loans come with several key features:
- Flexible Use: Can be used for debt consolidation, home improvements, major purchases, etc.
- Unsecured: No collateral required, but may have higher interest rates
- Fixed Interest Rates: Most personal loans come with fixed interest rates
- Fixed Repayment Term: Usually between 1 to 7 years
- Quick Approval: Often faster approval process compared to secured loans
Our Personal Loan EMI calculator helps you plan your finances by providing a clear picture of your future EMIs, total interest, and overall loan cost. Remember to compare offers from multiple lenders and consider factors like interest rates, processing fees, and repayment terms before making a decision.