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Personal Loan Monthly EMI Calculator

There are three key components that you should keep in mind while using the Personal Loan EMI calculator online. You can get accurate results by changing these values based on the loan terms offered to you for planning your loan accordingly. Here is a quick guide:

Loan Amount - This is the loan sanction you want or have been approved by the leader. During the planning phase, you should enter the amount you want to borrow. Do note that you can enter the values for the loan amount numerically or by using the slider feature on the calculator.

Interest Rate - Interest rate can be calculated easily using the interest rate calculator. Generally, it starts at an attractive rate of 9.99%* p.a. but can vary based on your financial profile. Enter the interest rate accurately, as it dictates your interest payable and the EMI amount.

Tenure - Loan tenure implies loan repayment duration and is a factor you should plan for very carefully. Choosing a short tenure reduces the interest payable but increases the monthly instalment amount as well. On the other hand, a long tenure reduces the EMI amount but also increases the interest on the loan. The ideal tenure has an acceptable EMI amount and total interest payable.

A Here are a few benefits of an EMI calculator:

  • Planning the loan tenure: While applying for a loan, the EMI calculator helps in planning the loan tenure. It helps decide the time period that is suitable for the borrower.
  • Planning the loan repayment: Timely repayment is considered a healthy financial habit for a borrower. It helps create a good image of the borrower in the lender’s eyes. Also, it helps in maintaining a good credit score. An EMI calculator directly assists you in planning the repayment schedule.
  • Easy to use: The EMI Calculator is easy to use, allowing you to understand factors such as loan tenure, loan repayment, monthly EMI, etc. Prior to applying for a Loan, it is advisable that you should use the EMI calculator.


A Personal Loan EMI calculator is used for calculating EMIs. You can calculate your EMIs using the below-mentioned methods:

  • Online calculator: The easiest and quickest approach to get accurate answers is to use the Personal Loan EMI calculator. All you have to do to calculate EMIs is to enter the loan amount, tenure, and interest rate. The result will be generated almost instantly.

Online EMI calculators can be a great way to determine your monthly EMIs without manually calculating the amount. We offer an easy-to-use online EMI calculator on our official website to help you plan your loan amount informatively. To use the calculator, all you have to do is:

  • Enter your loan amount
  • Enter the interest rate offered to you
  • Enter your preferred loan tenure

The tool will give an automated response to estimate your monthly EMI amount. For example, if your loan amount is Rs. 10,00,000, and you wish to repay your loan over a tenure of 5 years, your monthly EMI amount will be Rs. 21,198.*

Please note that the calculated amount is just an estimation of your monthly EMI on the basis of the information entered by you. Your actual EMI amount may differ based on other terms and conditions.

  • Microsoft Excel: This method necessitates using the Microsoft Excel application and the ‘PMT’ formula. Select a cell on the sheet, select a formula, and precisely enter the loan data into the following variables.
    ○ 'NPER' stands for month-to-month loan tenure.
    ○ 'Rate' refers to the interest rate every month.
    ○ 'PV' stands for principal value or loan amount.
    ○ 'FV' and ‘Type’ should be set to 0 and 1, respectively.
  • Manual calculation: Use the following formula to manually determine the EMI amount:
    E = [P x R x (1+R) N] / [(1+R) (N-1)]
    Where,
    ○ The letter 'P' stands for the principal amount.
    ○ The letter 'N' stands for the tenure as number of years
    ○ The interest rate on a monthly basis is denoted by the letter 'R.'

How Much Will the EMI for a ₹10 Lakh Personal Loan?

If you apply for a ₹10 Lakh Loan at an interest rate of 9.99% for a period of 5 years, your loan EMI amount will be approximately ₹21,242*. You can use the EMI calculator to determine which interest rate and loan tenure best suits your budget.

Example for EMI Calculation of ₹10 Lakh Personal Loan

The EMI for a Personal Loan of ₹10 Lakh will depend on the loan tenure and interest rate. For example, a loan EMI ₹10 Lakh loan for 5 years at 10% will be ₹21,247. Similarly, the below table will show the EMI calculation for ₹10 Lakh for different tenures at a 10% * interest rate.

Tenure      Approximate EMI at 10% interest rate
2 years₹46,145/month
3 years₹32,267/month
4 years₹25,363/month
5 years₹21,247/month

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