Personal Loan EMI Calculator
Calculate the future value of your SIP investment
Loan Amount
Rate Of Interest
Loan Tenure
Summary
Based on the details provided, your monthly EMI is ₹11,355 for a principal loan amount of ₹10,00,000, with a loan tenure of 10 years and an interest rate of 6.5% per annum. The total interest payable over the loan tenure is ₹3,62,576, bringing the total repayment amount to ₹13,62,576.
Summary
Based on the details provided, your monthly EMI is ₹11,355 for a principal loan amount of ₹10,00,000, with a loan tenure of 10 years and an interest rate of 6.5% per annum. The total interest payable over the loan tenure is ₹3,62,576, bringing the total repayment amount to ₹13,62,576.
Total Investment Breakup
Lumpsum Investment
Interest Amount
Total Investment
| Year | Opening Balance (₹) |
Yearly Interest (₹) |
Yearly Principal (₹) |
Outstanding Balance (₹) |
|---|
Investing Made Easy
smallcase offers 200+ readymade stock baskets, created and managed by SEBI-registered investment experts
Try smallcase
Investing Made Easy
smallcase offers 200+ readymade stock baskets, created and managed by SEBI-registered investment experts
Popular smallcases
Articles to help you discover the top stock collections in from trending market sectors
Personal Loan EMI Calculator
Personal Loan EMI Calculator: Maximize Financial Clarity and Plan Effectively
Managing your finances is crucial, especially when you’re planning to take a personal loan. A personal loan EMI calculator is an essential tool that helps you estimate the monthly installments you’ll need to pay towards your loan. This article dives deep into understanding how these calculators work, their benefits, and how they can help you make informed decisions.
What is a Personal Loan EMI?
EMI, or Equated Monthly Installment, is the fixed amount you pay every month to repay a loan within a specified tenure. It comprises two components:
- Principal Amount – The original loan amount borrowed.
- Interest – The additional cost charged by the lender for providing the loan.
Using tools like a personal loan EMI calculator simplifies calculating EMI for personal loans, enabling borrowers to plan their monthly budgets effect
Personal Loan EMI Calculator
A personal loan EMI calculator is an online tool designed to calculate the EMI and total interest payable on a loan. By entering essential details like loan amount, tenure, and interest rate, the personal loan and interest calculator provides instant and accurate results.
Whether you’re using a monthly EMI calculator for personal loans or exploring an EMI chart for personal loans, these tools eliminate manual calculations, saving time and effort.
How Does a Personal Loan EMI Calculator Work?
The calculator uses a simple formula to determine your EMI:
EMI = [P x R x (1+R)^N] / [(1+R)^N-1]
Where:
- P = Principal loan amount
- R = Monthly interest rate (annual interest rate divided by 12 and converted into decimals)
- N = Loan tenure in months
This formula ensures precise calculations, making the Indian loan EMI calculator a reliable tool for borrowers.
Persoanl loan EMI calculator Excel
You can use a PMT function to replicate a personal loan EMI calculator in Excel. Here’s how you can calculate your personal loan EMIs in 2 simple steps:
- Open Excel and enter the formula: =PMT(rate, nper, pv)
- rate: Monthly interest rate
- nper: Total number of payments (loan tenure in months)
- pv: Loan amount
- Press “Enter” to calculate your personal loan EMI instantly.
Personal Loan EMI Calculator Formula
Understanding the formula in detail:
- Convert the annual interest rate to a monthly rate by dividing it by 12.
- Raise the monthly interest rate to the power of the number of months in the loan tenure.
- Use the formula to calculate the EMI.
A personal loan calculator eliminates the need for manual computations and saves a lot of time.
Personal Loan EMI Calculation Example
Let’s consider an example for the personal loan interest rate calculation:
- Loan Amount §: ₹5,00,000
- Annual Interest Rate ®: 12%
- Loan Tenure (N): 5 years (60 months)
Monthly interest rate ®: 12/12 = 1% = 0.01
EMI = [5,00,000 x 0.01 x (1+0.01)^60] / [(1+0.01)^60-1]
Using a personal loan EMI calculator online, you can instantly find the EMI to be approximately ₹11,122.
Personal Loan Amortization Table
A personal loan amortization table breaks down your EMIs into principal and interest components for each month. Over time, the principal repayment increases while the interest component decreases.
| Month | EMI (₹) | Principal (₹) | Interest (₹) | Outstanding Balance (₹) |
| 1 | 11,122 | 5,122 | 6,000 | 4,94,878 |
| 2 | 11,122 | 5,181 | 5,941 | 4,89,697 |
How to Use the Personal Loan EMI Calculator?
Using the personal loan EMI calculator online is simple and straightforward:
- Enter the loan amount.
- Input the annual interest rate.
- Select the loan tenure in months or years.
- Click ‘Calculate’ to get the EMI, total interest, and overall repayment amount.
Factors Affecting Personal Loan EMI Calculations
Several factors influence your EMI and total repayment amount:
- Loan Amount – Higher loans lead to higher EMIs.
- Interest Rate – A lower rate reduces EMIs and overall repayment.
- Loan Tenure – Longer tenures lower EMIs but increase total interest.
- Prepayments – Lump-sum payments reduce outstanding principal, lowering EMIs or tenure.
How Can the Personal Loan Calculator Help You in Financial Planning?
The personal loan and EMI calculator serves as a critical tool for:
- Estimating monthly expenses.
- Comparing loan offers based on interest rates.
- Understanding repayment schedules.
Benefits and Limitations of Personal Loan EMI Calculator India
Benefits of the Personal Loan Calculator for EMI:
- Quick and accurate results.
- User-friendly interface for easy calculations.
- Helps in loan comparison.
Online Personal Loan EMI Calculator Limitations:
- Does not account for fluctuating interest rates.
- Prepayment charges or processing fees are excluded.
Conclusion
A personal loan EMI calculator is an indispensable tool for anyone planning to take a loan. It simplifies the process of calculating EMIs, helping you make informed decisions and plan your finances better. Whether it’s calculating EMI for personal loans or understanding the EMI chart for personal loans, this tool ensures you stay on top of your financial commitments.
Popular calculators on smallcase
Frequently Asked Questions
What is a personal loan EMI calculator?
A personal loan EMI calculator online tool calculates your monthly EMIs based on loan amount, interest rate, and tenure.
How to reduce your personal loan EMIs?
Lower interest rates can lead to reduced EMIs, while extending the loan tenure spreads payments over a longer period, decreasing the monthly amount. Partial prepayments reduce the outstanding principal, which can also lower monthly installments
How can I get a low-interest-rate personal loan?
A good credit score often enables access to better loan terms, as lenders consider it an indicator of financial reliability. Comparing loan offers provides insights into competitive interest rates and conditions, while engaging with lenders can sometimes result in favorable adjustments to loan terms based on individual financial profiles
Does the personal loan EMI calculator show accurate results?
Yes, The personal loan calculator for EMI provides accurate estimates based on the input values. However, additional charges like processing fees are not included.
How can the personal loan calculator help you determine a suitable loan amount?
By analyzing the EMI and total repayment amount, you can decide a loan amount that aligns with your budget.
What is a personal loan amortization schedule?
It’s a detailed table showing the breakup of principal and interest components of each EMI over the loan tenure.
How to use the personal loan EMI calculator?
Simply enter the loan amount, interest rate, and tenure into the calculator to get instant results.
How is personal loan interest rate calculated?
Lenders consider factors like credit score, income, and market conditions to determine the interest rate.
Discover Popular Articles by smallcase
Learn more about various financial instruments, trending sectors, popular themes, and companies that are thriving in the current markets before investing.
Best Dividend-Paying Mutual Funds in India (2025)
Read More
Best Focused Funds List in India (2025)
Read More
Best Investment Plans in India for 1 Year (2025)
Read More
List of Best Large Cap Mutual Funds in India
Read More
Best Micro Cap Mutual Funds (2025)
Read More
Best Mutual Funds for Long-Term Investment in India
Read More
Stock Investing Made Easy
Simple, quick and delightful investing for you!
Scan to Download
Don't take our word for it
smallcase is trusted across the Indian investment ecosystem
Finally got access to @smallcaseHQ and gotta admit, it ‘s the most beautiful investment product I’ve ever seen.
first stock market investment today. in case you’re a stock market noob like me, highly recommend @smallcaseHQ!
One product that impressed me a lot in last 1 yr & also benefitted me personally is @smallcaseHQ – never got interested in markets earlier 🥇
Lately, been playing w/ stocks & wealth mgmt apps. Amongst all,@smallcaseHQ is the shining star. Absolute recco on 💻 & 📱
OK! I found @smallcaseHQ at this odd hour. ALAG LEVEL. Isn’t it alike your own mutual fund?
The best investment tech startup in India today.@smallcaseHQ hoping you guys are the catalyst to get the next million to the markets 🙂
@smallcaseHQ love your product! Kudos!
@smallcaseHQ! What a brilliant product. One of the best I’ve seen.
Agree ” mutual funds sahi hai “, but somehow started feeling smallcase better hai! ☺ What a product! Thanks @smallcaseHQ and@zerodhaonline !!
Felt like Buffett when I logged on to @smallcaseHQ today 😀 There are only two kind of ppl – those who have a Smallcase and those who will!
Take a bow @smallcaseHQ! What an incredible product! 🙏🏻 The ease at which you make equity investing happen – such a breath of fresh air!
They way I am promoting @smallcaseHQ I won’t be surprised if I am mistaken as their business development executive. Impressive product. Keep up the great work you are doing. Happy new year.
Ladies and gentlemen, check out @smallcaseHQ. Even if you don’t end up investing, you’ll be impressed by how pretty it is! 😘
Great way for those early to investing to get exposure to sectors/themes thru @smallcaseHQ. Well researched and easy to buy and manage portfolios.
Had an Amazing experience on building own #theme based#portfolio And guess what i can customise the amount i want to #invest and where to #invest@smallcaseHQ @AxisDirect_In
Fallen in love with @smallcaseHQ– what a smooth, smooth product. Anybody else here using it?
A very simple, low cost asset allocation solution using ETFs is to go for All Weather Portfolio offered by @smallcaseHQ
Invested for the first time during muhurat trading. Adult feels max!@smallcaseHQ 🙌🏻
You can save this tweet of mine. @smallcaseHQ is the future of investing. They will beat the best performing mutual fund and pms hands down. Absolutely no comparison. The sooner people realise this, the better will be their cagr.
Only the best —> @smallcaseHQ Thank me after 10 years.
2 years to this tweet and @smallcaseHQ is still my top rated product
@smallcaseHQ has to be the most unique “fintech” idea I’ve seen in India. Should’ve taken it seriously long back.
Gotta say this. Smallcase is KILLING IT!!!! 🔥
smallcase is one of those rare businesses creating real value for customers/investors, through original thinking and great product design. Go @smallcaseHQ
Haven’t seen a better product than @smallcaseHQ in a while. Stunning.
@smallcaseHQ is one of the best new products that I’ve tried 😍
No matter how much I praise @smallcaseHQ It will still be less for them. Fantastic App, they have made investing so much simple and sharing your fav stocks too. Gamechanger in the fintech ecosystem.
So, I have been using @smallcaseHQ for investing some money and it’s one of the best I would say for rookies like me. Go ahead and try it out.
