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Indiabulls Dhani

 Indiabulls Dhani Get a personal loan instantly with Indiabulls Dhani, a quick, easy and convenient mobile application which disburses loan amount in your bank account directly, starting at 12% p.a.
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Personal Loan EMI Calculator -Calculate EMI on Personal Loan

Instantly check your personal loan EMI by using this flexible and online Personal Loan EMI Calculator. Simply enter your loan amount, desired tenure (in months) and rate of interest, or move the slider to the left or right to adjust the values. It’s quick, comfortable and transparent. Calculate and plan your borrowings and payments as per your requirements.

Your EMI Amount Is

932

*Note: The EMI amount is indicative and may vary depending upon the date of disbursal and period between the disbursal date and the first EMI date.

Instantly check your personal loan EMI by using this flexible and online Personal Loan EMI Calculator. It’s quick, comfortable and transparent. Calculate and plan your borrowings and payments as per your requirements.

What is an EMI?

EMI stands for Equated Monthly Installment. It is a fixed amount which you pay to the lender at the end of each month. An EMI is a repayment of the principal amount as well as the interest rate which is based on your outstanding loan amount as per the amortization schedule. The total amount of the loan is divided by the tenure (in months) chosen by you.

For the initial months of the repayment schedule, the interest component will be higher and will gradually reduce with each successive payment.

What is A Personal Loan EMI Calculator?

When you take a decision to avail a personal loan, the most important thing is to consider the amount of your Equated Monthly Installments. An EMI is the most convenient way to repay a loan. This is where the tool helps you to calculate EMI for a personal loan. It gives you an estimated amount of your EMI. Once you get an estimation, it is easier for you to gauge your financial situation before the loan application.

How to Use a Personal Loan EMI Calculator?

It is very easy to calculate your EMI for a personal loan by using an EMI calculator. You need to enter the following information:

  • • Loan amount
  • • Tenure (in months)
  • • Rate of Interest

You can use the slider to enter these details. Once you feed the information, the calculators give you an approximate amount of your monthly EMIs.

How to Calculate EMI for Personal Loan?

An EMI calculator for personal loan uses the following formula for calculation.

E= [P x R x (1+R)^N]/[(1+R)^N-1] where

E stands for EMI

P- Principal Amount

R- Rate of Interest (Monthly)

N- Tenure (In Months)

Advantages of EMI Calculator for Personal Loan

Time Saver

To calculate EMI on personal loans is a time-consuming process. But as a personal loan calculator is an online tool, it helps you to calculate EMIs in no time. It is accessible anywhere, anytime.

Quick results

Once you enter all the details, you get an approximate amount on the spot.

No Human Error

There is no place for human error if you calculate personal loan EMI using an online tool. Also, the formula is a little tricky to attempt manually. This is where a personal loan EMI calculator comes in handy.

Easy to Use

The EMI calculator for a personal loan is easy to use. All you need to do is just drag the sliders left or right and select the desired details.

 

 

Terms you should know:
  • EMI: EMI stands for “Equated Monthly Installment”. It refers to the amount you have to pay permonth if you take a personal loan of a certain amount for a certain period.

  • EMI Calculator: The Personal Loan EMI calculator helps you to calculate your monthly installments on the personal loan that you may avail from a personal loans provider.

  • This calculation depends on the personal loan amount, the personal loan rate of interest and the personal loan term or tenure.