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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.

Personal Loan EMI Calculator

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Your EMI Amount Is:  
Total Principal Amount
 
Total Interest Payable
 
Total Payment
 

Payment Schedule

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*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.

 

Your EMI Amount Is

932

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*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.

A personal loan EMI calculator helps you get an estimation regarding the monthly EMIs. You can use the financial calculator to calculate your EMI. After meeting the personal loan eligibility criteria, all you need to do is select the amount, interest rate and tenure. It is a quick and easy process. The personal loan interest rate calculator can give you an approximate amount of the EMI outflow. You can use this insight to plan the amount of your personal loan. 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.

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What is an EMI?

EMI stands for Equated Monthly Instalment. 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 personal loan 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?

A Personal Loan EMI calculator is an online tool designed to help you understand how much EMI you will have to pay each month. All you need to do is enter the relevant loan details and the calculator 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 can use the personal loan EMI calculator as per the following steps:

• Step 1: Enter the value of the desired loan amount.

• Step 2: Enter the expected Personal Loan Interest Rate

• Step 3: Enter the desired tenure in months for the personal loan

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.

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FAQs

1. What is Pre-EMI?

Pre-EMI is the interest paid on the Loan Amount availed before the start of the actual EMI. Pre-EMI is the Interest deducted for the broken period from the fully disbursed loan amount at the time of disbursement.

2. When is my next EMI due? How can I view my EMI Status?

Your complete loan details, inclusive of EMI status and next due date, are available once you login to your account on the mobile app or the website.

3. How do I change my EMI due date?

As per Indiabulls Consumer Finance Limited policy, the EMI due date cannot be changed post disbursement of the loan amount.

4. What are the modes of paying the EMI?

EMIs can be paid via NACH mode.

 

 

Terms you should know: