The Personal Loan EMI Calculator is an essential online tool that helps you calculate your monthly EMIs before applying for a loan. With just a few clicks, you can estimate your repayment amount based on the loan principal, tenure, and interest rate—giving you complete control over your financial planning.
Whether you're planning a home renovation, managing a medical emergency, or funding your education, knowing your EMI in advance ensures you borrow smartly. This calculator eliminates confusion and manual errors by providing instant, accurate results.
Simply enter the loan amount you wish to borrow, select the repayment period, and adjust the expected interest rate using our user-friendly sliders. The EMI calculator will instantly show your monthly EMI, total interest payable, and the total repayment amount.
By using this tool, you can compare different loan options and choose one that fits comfortably within your monthly budget. It also allows you to tweak the tenure or amount until you reach an EMI that suits your income.
Plan ahead and avoid financial stress by understanding your repayment schedule before committing to a loan. Our Personal Loan EMI Calculator works 24/7 and is absolutely free—no login or personal details required.
Amount
Tenure
% Interest
Principal
Interest
Total Payable
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.