Aditya Birla Capital Personal Loan EMI Calculator

You can calculate your EMI manually using the standard formula. However, this process can be time-consuming and prone to errors. 

EMI Formula: 

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

Where:
P = Principal Loan Amount
R = Monthly Interest Rate
N = Loan Tenure (in months)

Example:

Suppose you take an Aditya Birla Capital Personal Loan of ₹5 Lakhs at an interest rate of 12% p.a. for a tenure of 5 years:

• Loan Amount (P) = ₹5,00,000

• Annual Interest Rate = 12%

• Tenure (n) = 60 months

EMI = 5,00,000×0.01×(1+0.01)60/ (1+0.01)60−1

EMI = 5,000×1.816/ 0.816 ​= ₹11,122

Here is the total interest you pay: 

With an EMI of ₹11,122 over 60 months, your total repayment amounts to ₹6,67,333. The interest paid is the difference between this total repayment and the principal loan amount, calculated as:

Total Interest=(EMI×Tenure)−Principal=(₹11,122×60)−₹5,00,000=₹1,67,333

To save time and ensure accuracy, you can use the Aditya Birla Capital Personal Loan EMI calculator on Bajaj Markets.

There are several benefits of using this personal loan EMI calculator, from choosing the most suitable loan terms to comparing options. Here are the

• Accurate EMI Calculation

Get an exact estimate of your monthly instalments based on loan amount, interest rate, and tenure.

• Helps in Financial Planning

By knowing the exact EMI, you can assess your repayment capacity and maintain a healthy debt-to-income ratio.

• Free to Use

Explore different loan amounts, interest rates, and tenures multiple times, free of cost, until you find the most suitable option.

• Quick Comparisons of Different Loan Offers

Easily compare loan offers and terms to select the one that aligns with your financial goals.

• Easy to Use and Time-saving

With its simple interface, the calculator provides instant results, saving you from tedious manual calculations.

• Precise and Reliable Results

Calculations are accurate, removing guesswork and helping you make well-informed financial decisions.

• Amortisation Schedule

View how each EMI contributes to principal and interest repayment over the loan tenure. This helps you plan prepayments, foreclosures, and balance transfers effectively. 

Several factors determine your monthly EMI amount for an Aditya Birla Capital Personal Loan. Here are some of the factors:

• Loan Amount

Higher the loan amount, higher would be the EMIs, while small-ticket loans reduce your monthly repayment obligation.

• Interest Rate

The applicable interest rate directly affects your EMI. Lower rates result in smaller EMIs and vice versa. Higher rates also result in a higher cost of borrowing across the loan’s tenure. 

• Tenure

Extending the repayment duration reduces the EMI amount but increases the total interest paid over the  loan period. On the other hand, a shorter tenure raises the EMI but lowers the overall interest.

• Credit Score

A better cibil score may help you secure lower interest rates on unsecured loans, thereby reducing your EMI.

• Existing Debt

Your current financial obligations, such as other loans or credit card dues, can influence the EMI repayment. Lenders consider your debt-to-income ratio when determining your EMI.