Personal Loan EMI Calculator

Calculate your Personal Loan EMI using our online and easy to use Personal Loan EMI Calculator. Just enter your Personal Loan Amount, Loan Term, Rate of Interest and hit “Calculate EMI” to get your complete EMI details with payment breakdown and amortization schedule.

%

Personal Loan EMI

483

Total Interest Payable

3,980

Total Payment
(Principal + Interest)

28,980

Break-up of Total Payment

What is an EMI?

EMI means "Equated Monthly Installments." It is fundamentally the amount that the lender will deduct from your bank account every month toward the loan you are taking from the bank or lender. The EMI combines some part of the principal component of the loan and the interest component of the loan. In short, the total payable amount is split into two components called principal and interest, which collectively make it an EMI

How EMI is calculated?

EMI calculation depends on three things, Loan Amount that you have availed from the bank, Interest Rate that the bank is charging, and the Tenure for which you have taken the loan. Below is the formula to calculate the Loan EMI:

EMI = (P * I) * (1 + I) ^ N / [(1+I) ^ N - 1]

P = Principal Amount of your Loan
I = Rate of Interest charged by bank for your Loan
N = Repayment Period of your Loan

Amortization Schedule for repayment of your Personal Loan

Year Principal
(A)
Interest
(B)
Total Payment
(A + B)
Balance Loan Paid to Date
2022 2,175 723 2,898 22,824 9.00 %
2023 4,550 1,246 5,796 18,274 27.00 %
2024 4,831 965 5,796 13,443 46.00 %
2025 5,129 667 5,796 8,314 67.00 %
2026 5,445 351 5,796 2,869 89.00 %
2027 2,847 51 2,898 0 100.00 %