Personal Loan EMI Calculator 2024
Calculate your monthly EMI, total interest cost, and view complete payment schedule for your personal loan.
Personal Loan EMI Calculator
Plan your loan with confidence. Calculate EMI, interest costs, and see how much you could save with better rates.
Monthly EMI: ₹0
Total Interest Paid
₹-1,00,000
Interest Savings with 1% Lower Rate
₹-1,04,942
Complete Payment Schedule
View your month-by-month payment breakdown including principal, interest, and remaining balance.
| Month | EMI | Principal | Interest | Remaining Balance |
|---|
Frequently Asked Questions
How is personal loan EMI calculated?
Personal loan EMI is calculated using the formula: EMI = P × r × (1 + r)^n/((1 + r)^n - 1), where P is principal, r is monthly interest rate, and n is tenure in months.
What factors affect my EMI amount?
Your EMI amount is affected by three main factors: loan amount, interest rate, and loan tenure. A higher loan amount or interest rate increases EMI, while a longer tenure reduces it.
What is the minimum and maximum loan amount I can calculate?
Our calculator supports loan amounts starting from ₹1,000. There is no upper limit, but most lenders offer personal loans up to ₹40 lakhs based on your income and credit profile.
How can I reduce my personal loan EMI?
You can reduce your EMI by: 1) Opting for a longer tenure, 2) Improving your credit score to get better interest rates, 3) Making a larger down payment, or 4) Comparing offers from multiple lenders.