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Personal Loan EMI calculator


Plan your financial obligations easily using Tata Capital’s personal loan EMI calculator. Find your monthly EMI in seconds and stay on top of your loan repayment.

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Calculate EMI for your Personal Loan

Loan amount

₹
₹75,000 ₹35,00,000

Loan duration

1 Years 6 Years

Loan duration

12 Months 72 Months

Rate of interest

%
10% p.a 19% p.a

Monthly EMI

  • Total Amount Payable

    0*

  • Total Interest Payable

    0*

Total Amount Payable

Total Interest Payable

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Disclaimer: The aforementioned values, calculations and results are for illustrative and informational purposes only and may vary basis various parameters laid down by Tata Capital.

What is Personal Loan EMI?

Personal Loan EMI, or Equated Monthly Instalment, is the fixed amount you pay every month to repay your loan. It depends on three factors: the loan amount, the applicable interest rate, and the loan tenure you choose. Each EMI is made up of a principal component and an interest component, but this split isn't fixed. In the early months, a larger portion goes toward interest, and as the tenure progresses, a growing share goes toward repaying the principal.
 

The 2 How's of deciding the right EMI

  • How soon do you want to pay off the Personal Loan?
  • How much can you afford to pay in a month?

What is Personal Loan EMI Calculator?

A Personal Loan EMI Calculator online is an easy-to-access online tool helping you estimate your monthly EMI payment basis your personal loan details. It's a helpful way to plan your finances in advance, compare across lenders, and ensure that the EMI fits your budget. A personal loan EMI calculator online saves time and reduces manual calculation errors involved in financial planning.

To use the EMI calculator online, you need to enter three key inputs:

  1. 1. the principal loan amount you wish to borrow

  2. 2. the applicable interest rate

  3. 3. your preferred loan tenure. 
     

Based on these, the calculator instantly generates three outputs, i.e. your monthly EMI, the total interest payable over the loan tenure, and the total repayment amount (principal plus interest combined). 

Please note that these figures are estimates for planning purposes, and your actual loan terms may vary based on the lender's assessment of your eligibility and other factors.
 

Formula to Determine Personal Loan EMI

Say, you take a personal loan of ₹5,00,000 at an annual interest rate of 12%, for a tenure of 3 years (36 months).
 

  • P = ₹5,00,000

  • R = 12 ÷ 12 ÷ 100 = 0.01

  • N = 36
     

Plugging these into the formula gives an EMI of approximately ₹16,607 per month, with the total interest payable over the tenure working out to around ₹97,850.
 

This formula holds true regardless of the loan amount or tenure you choose, so it applies whether you're calculating EMI for a small short-term loan or a larger, longer-tenure one.

The EMI calculator for an online personal loan uses a standard mathematical formula to compute your monthly instalment based on three key variables — the loan amount, the interest rate, and the loan tenure. Here's the formula used:
 

EMI = [P × R × (1+R)^N] / [(1+R)^N − 1]

Where:

P = Principal (the loan amount you borrow)

R = Monthly interest rate, calculated by dividing the annual interest rate by 12 and converting it to a decimal (for example, an 12% annual rate becomes 12 ÷ 12 ÷ 100 = 0.01)

N = Tenure, expressed in number of months (so a 3-year loan tenure becomes 36 for this formula)

Personal Loan EMI Calculator Formula Explained

A loan EMI calculator for a personal loan uses a standard formula followed by financial institutions across India to determine your monthly repayment. If you wish to calculate the EMI manually, the formula considers the loan amount, interest rate, and loan tenure to give an accurate monthly installment. 

The formula used is:

EMI = [P × R × (1 + R)^N] / [(1 + R)^N − 1]

Variable Represents Details

P

 Loan amount The principal sum you borrow

R

 Monthly interest rate (in decimal form) Calculated by dividing the annual interest rate by 12 and converting the result to a decimal — for example, a 12% annual rate becomes 12 ÷ 12 ÷ 100 = 0.01

N

 Loan tenure The total number of monthly instalments over which you'll repay the loan — for example, a 4-year tenure becomes 48

A quick example

Say you borrow ₹3,00,000 at an annual interest rate of 11%, for a tenure of 4 years (48 months).

  • P = ₹3,00,000

  • R = 11 ÷ 12 ÷ 100 = 0.00917

  • N = 48
     

Plugging these into the formula gives an EMI of approximately ₹7,758 per month, with total interest payable over the tenure working out to around ₹72,384.

This formula for calculating personal loan EMI helps determine the fixed monthly installment you need to pay over the loan tenure. An online personal loan EMI calculator applies this formula automatically, providing quick results and eliminating the need for manual calculations.

Factors Affecting Your Personal Loan EMI

    Three key factors influence your personal loan EMI: loan amount, interest rate, and loan tenure.

    Understanding how each one moves your EMI and total interest can help you plan repayments effectively.

Factor Impact on EMI Impact on Total Interest

Loan amount

 A higher principal loan amount directly increases the EMI, since you're repaying a larger sum over the same tenure A higher loan amount also increases the total interest paid over the loan tenure

Interest rate

 Even a small increase in the interest rate raises your EMI, and a lower rate reduces it A higher interest rate significantly increases total interest payable; a lower rate reduces it

Loan tenure

 A longer tenure lowers your EMI, spreading repayment over more months A longer tenure increases the total interest payable, since interest accrues for a longer period; a shorter tenure reduces total interest but raises EMI

Processing fees are a separate, one-time charge deducted from the disbursed loan amount or paid upfront — they don't factor into the EMI formula itself and won't change your scheduled monthly instalment. However, they do add to your overall borrowing cost, so it's worth factoring them in when comparing loan offers.

Using Tata Capital's personal loan EMI calculator allows you to adjust the loan amount, interest rate, and tenure to see how each change affects your monthly payment and total interest. Understanding these factors helps you choose a repayment plan that fits your budget and manage your loan efficiently.

How to Use Personal Loan EMI Calculator Online


Looking for how to calculate EMI for personal loan? A personal loan EMI calculator is just what you need. Just follow the given steps:

1

Set Loan Amount

Using the first slider in the personal loan calculator, set the desired Loan Amount. You can even use the ‘+’ and ‘-‘ symbols to increase or decrease the amount or enter the amount manually in the box.

2

Set Rate of Interest

Use the second slider in the personal loan instalment calculator to set the Rate of Interest. You can use the ‘+’ and ‘-‘ symbols to increase or decrease the interest rate or manually enter it in the given box

3

Setup Loan Tenure

Use the third slider to set your loan tenure, in months or years. You can use the '+' or '-' symbols to increase or decrease the tenure, or enter it manually in the box.

4

View Result

Once you've entered these details, the personal Loan interest rate calculator instantly displays your monthly EMI, along with the total interest payable and the total amount payable over the loan tenure.

You can adjust the loan amount, interest rate, or tenure at any time to compare different repayment scenarios and find the combination that best fits your budget before applying.

How to Choose the Best Personal Loan EMI Plan for You

    Selecting the right personal loan EMI plan involves balancing affordability with the total interest you will pay over the loan tenure. Using a personal loan EMI calculator can help you make an informed decision.

    • Check Different Tenures: Enter various loan tenures in the calculator to see how your monthly EMI changes. Shorter tenures increase EMI but reduce total interest, while longer tenures lower EMI but raise overall repayment.

    • Assess Your Budget: Choose a tenure and EMI that comfortably fit your monthly budget to avoid financial stress.

    • Compare Loan Amounts and Interest Rates: Adjusting loan amounts and interest rates in the calculator helps you identify the most cost-effective combination.

    • Consider Additional Charges: Factor in processing fees or prepayment options to understand the total cost of the loan.
       

    Using these steps, you can select an EMI plan that balances manageable monthly payments with overall affordability, ensuring smoother repayment and better financial planning.

Personal Loan Amortisation Schedule

A personal loan amortisation schedule shows you the breakup of your monthly EMI amount into interest and principal payments. It shows how your loan balance reduces over time until it’s fully repaid. 

Here’s an example of amortisation schedule for a personal loan worth Rs. 1 Lakh, which is taken for 12 months at an 11% interest rate.
 

    Month Opening Principal Outstanding Interest Paid Principal Paid Resulting Principal Outstanding
    1 Rs. 1,00,000.00 Rs. 916.67 Rs. 7,921.50 Rs. 92,078.50
    2 Rs. 92,078.50 Rs. 844.05 Rs. 7,994.11 Rs. 84,084.39
    3 Rs. 84,084.39 Rs. 770.77 Rs. 8,067.39 Rs. 76,017.00
    4 Rs. 76,017.00 Rs. 696.82 Rs. 8,141.34 Rs. 67,875.65
    5 Rs. 67,875.65 Rs. 622.19 Rs. 8,215.97 Rs. 59,659.68
    6 Rs. 59,659.68 Rs. 546.88 Rs. 8,291.29 Rs. 51,368.39
    7 Rs. 51,368.39 Rs. 470.88 Rs. 8,367.29 Rs. 43,001.11
    8 Rs. 43,001.11 Rs. 394.18 Rs. 8,443.99 Rs. 34,557.12
    9 Rs. 34,557.12 Rs. 316.77 Rs. 8,521.39 Rs. 26,035.72
    10 Rs. 26,035.72 Rs. 238.66 Rs. 8,599.51 Rs. 17,436.22
    11 Rs. 17,436.22 Rs. 159.83 Rs. 8,678.33 Rs. 8,757.89
    12 Rs. 8,757.89 Rs. 80.28 Rs. 8,757.89 Rs. 0.00

    Benefits of Using Online Personal Loan EMI Calculator

  • Accurate Financial Planning

     It allows you to plan your finances better by providing an accurate estimate of your monthly EMI. This helps in budgeting and ensures you can comfortably manage your monthly expenses.

  • Loan Tenure Adjustment

    By adjusting the loan tenure in the calculator, you can see how it impacts your EMI and total interest payable. This helps in finding the optimal tenure that balances your EMI affordability and interest savings.

  • Interest Rate Analysis

    The calculator allows you to understand how changes in interest rates affect your EMI.

  • Informed Decision-Making

    With a clear understanding of your EMI and the total cost of the loan, you can make informed decisions about borrowing, ensuring it aligns with your financial goals and capabilities.

How to choose the right Personal Loan EMI option?

To be able to make the right choice among personal loan EMI options – standard
EMI and flexi personal loan, you need to consider the following questions -

How Much EMI Can You Afford to Pay in a Month?

One of the most critical factors to consider while choosing an EMI option is your budget. Jot down all your monthly commitments and deduct them from your monthly income to deduce the residual income. Based on what is left over, you can decide how much you can afford to pay in a month.

How much EMI do you need to pay?

Your Equated Monthly Instalment depends on the principal loan amount, the interest rate charged and the period for which the loan is taken.

You can choose your personal loan EMI amount that is comfortable for you by using the Personal Loan EMI calculator.

Your EMI amount will depend upon your chosen Principal Amount, the Loan Tenure, and the Rate of Interest. Using a personal loan EMI calculator, you can choose the EMI amount you are comfortable with.

Frequently Asked Questions on Personal Loan EMI Calculator

How well does the personal loan EMI calculator predict my monthly payments?

A personal loan EMI calculator will give you an accurate answer within seconds. All you need to do is adjust the slider to specify the loan amount you wish to borrow, the rate of interest, and loan tenure on the Tata Capital EMI calculator. 

Our EMI calculator will then automatically calculate your monthly EMIs, total amount payable, and total interest payable. Using this calculator, you can plan your repayment schedule with ease.

Can I determine the EMIs for various loan amounts using the personal loan EMI calculator?

Yes, you can use the personal loan EMI checker to calculate EMIs for different loan amounts. Here’s how you can use Tata Capital’s EMI calculator to determine these. 

  • Use the first slider in the EMI calculator to specify the loan amount. You can use the ‘-’ and ‘+ ‘symbols to decrease or increase the amount or manually enter the amount in the box.

  • Next, use the second slider to specify the interest rate 

  • Lastly, use the third slider to specify the loan tenure in months or years
     

Once these amounts are specified, the EMI calculator will display the monthly EMI, total amount payable, and total interest payable. You can repeat this process to determine the EMIs for various loan amounts.

Can the EMI calculator help me understand the total interest payable over the loan tenure?

Yes, the EMI calculator will give you a clear picture of the total interest payable over the loan tenure. 

All you have to do is follow the steps below. 

  • Use the first slider in the personal loan EMI checker to specify the loan amount. You can use the ‘-’ and ‘+ ‘symbols to decrease or increase the amount or manually enter the amount in the box.

  • Next, use the second slider to specify the interest rate 

  • Lastly, use the third slider to specify the loan tenure in months or years
     

Once these amounts are fed into the calculator, the EMI calculator will display the total interest payable, the monthly EMI, and the total amount payable.

Can I compare the EMIs offered by several lenders using the personal loan EMI calculator?

While Tata Capital’s EMI calculator cannot explicitly compare EMIs offered by several lenders, it can help you. It can calculate EMIs offered for different loan amounts at different interest rates and tenures. 


All you have to do is follow the steps below. 
 

  • Use the first slider in the personal loan EMI calculator to specify the loan amount. You can use the ‘-’ and ‘+ ‘symbols to decrease or increase the amount or manually enter the amount in the box.

  • Next, use the second slider to specify the interest rate 

  • Lastly, use the third slider to specify the loan tenure in months or years
     

Based on the above information, the calculator will display the monthly EMIs, total amount payable, and total interest payable. You can repeat this process with different amounts for each slider and get an accurate understanding of your financial obligations under different loan conditions.

Does the Personal Loan EMI Calculator provide any tips or suggestions for managing personal loan EMIs effectively?

No, the personal loan EMI checker will not be able to provide you with any tips or suggestions for managing your personal loan EMI effectively. 

However, it will help you get a clear understanding of your monthly EMIs. Here are the benefits of using Tata Capital’s EMI calculator.
 

  • Ascertain your EMI in advance 

  • Manage your financial budget better by knowing how much EMI you must pay

  • Find the loan tenure that suits you by calculating a comfortable EMI amount

  • Save time and get an accurate calculation

Can prepayment or part-payment alternatives be calculated using the personal loan EMI calculator?

No, you cannot calculate prepayment or part-payment using our personal loan EMI calculator. However, we offer a separate calculator to help you evaluate your pre and part payment- our prepayment EMI calculator. 

All you need to do is enter the loan amount, loan duration, rate of interest, part-payment amount and payment months.  Based on this, the calculator will display the revised EMI (fixed tenure), revised tenure (fixed EMI), total payment and remaining principal.

Are the results generated by the EMI calculator inclusive of taxes and other charges?

No, the results generated by the EMI calculator are not inclusive of taxes and other charges. This calculator takes into account your loan amount, interest rate and tenure to calculate your EMI payment, exclusive of taxes and other charges.

Can processing fees and other costs be taken into account by the personal loan EMI calculator?

No, processing fees and other costs aren’t considered by personal loan EMI calculators. Tata Capital’s EMI calculator takes the loan amount, interest rate and tenure in to account to calculate your monthly EMI. Processing fees and other charges must be calculated separately.

  •  

Does the personal loan EMI calculator apply to loans with variable or floating interest rates?

No, the personal loan EMI calculator cannot calculate loans with variable or floating interest. Tata Capital’s EMI calculator calculates your EMI for fixed interest rates.

  •  

How does personal loan EMI calculator work?

    • Select your desired loan amount 

    • Select the loan duration

    • This will compute estimated EMI basis the ROI and the details you have entered

How to reduce Personal Loan EMIs?

    To reduce personal loan EMIs, opt for a longer tenure, make partial prepayments, use balance transfers, or consolidate loans. Improving your credit score and taking advantage of lender promotions can also help lower EMIs.

What is a personal loan EMI calculator and how does it work?

    A personal loan EMI calculator is an online tool that calculates your monthly installment based on the loan amount, interest rate, and tenure. It uses a standard EMI formula to provide instant results without requiring manual computation.

How do I calculate EMI for a personal loan manually?

    To calculate EMI manually, use the personal loan EMI calculator formula: EMI = [P × R × (1 + R)^N] / [(1 + R)^N − 1]. You must convert the annual interest rate into a monthly decimal rate before applying the formula.

What is the formula used in a personal loan EMI calculator?

    The formula used in a personal loan interest EMI calculator is EMI = [P × R × (1 + R)^N] / [(1 + R)^N − 1], where P is the principal, R is the monthly interest rate, and N is the number of months.

How does loan tenure affect my personal loan EMI amount?

    Loan tenure directly impacts EMI. A longer tenure reduces the monthly EMI but increases total interest payable. A shorter tenure increases EMI but reduces the overall interest cost over the loan period.

Can I compare EMIs for different loan amounts and interest rates?

    An online personal loan EMI calculator allows you to adjust the loan amount, interest rate, and tenure to compare different EMI scenarios. This helps you evaluate the affordability of repayment before finalizing a loan.

Is Tata Capital's personal loan EMI calculator free to use?

    The online personal loan EMI calculator is typically free and allows users to estimate monthly installments without any obligation to apply for a loan.

Does the EMI calculator show amortization schedules?

    Many online tools provide an amortization schedule that shows the breakup of principal and interest for each EMI. This helps borrowers understand how repayment progresses over the loan tenure.

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