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Avail Instant Personal Loans ✓ Loan up to 50 Lakhs ✓ Quick Disbursal ✓ Minimum Documentation!

A Personal Loan EMI calculator is a must-use tool if you want to calculate the Personal Loan EMI amount that you must pay each month to repay your debt obligations. To calculate Personal Loan EMI, you have to enter your principal amount, the expected interest rate, and the duration of the loan repayment tenure. Make use of the Personal Loan calculator on Bajaj MARKETS to calculate Personal Loan EMIs and gain the upper hand on your expenses today!

Calculate Personal Loan EMI

Loan Amount
  • Months
  • Years
Rate of Interest

Your monthly EMI is

at % interest rate for months

Total Amount Payable
Principal Amount
Total Interest
Year Principal Interest Balance

How to Calculate EMI for Personal Loan

You have to enter the principal amount, tenure and rate of interest in the Personal Loan EMI calculator directly, or you can arrange them in a mathematical Personal Loan EMI calculation formula in order to calculate Personal Loan EMI. The tool is designed in such a way that when you enter the variables as directed, you will be able to determine your monthly EMI obligation towards your Personal Loan even before applying for it.

Personal Loan EMI Calculation Formula

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


EMI is Equated Monthly Instalment,

P is the principal amount,

R is the monthly rate of interest, and

N is the loan repayment tenure (in months).

The above Personal Loan EMI formula should help you arrive at a near-to-accurate estimate of your Personal Loan EMI amount.

Personal Loan EMI Calculation Examples

Loan Amount

Interest Rate

Repayment Period

EMI per month

₹3 Lakhs

13.00% p.a.

4 Years

Rs. 8,048

₹4 Lakhs

12% p.a.

5 Years

Rs. 8,898

₹5 Lakhs

12.5% p.a.

2 Years

Rs. 23,654

₹6 Lakhs

13.2% p.a.

3 Years

Rs. 20,274

₹7 Lakhs

12.8% p.a.

2 Years

Rs. 28,469

₹8 Lakhs

13.9% p.a.

4 Years

Rs. 21,829

₹9 Lakhs

14.5% p.a.

5 Years

Rs. 21,175

₹10 Lakhs

13.00% p.a.

3 Years

Rs. 33,694

₹11 Lakhs

14.5% p.a.

2 Years

Rs. 53,074

₹12 Lakhs

12.00% p.a.

3 Years

Rs. 39,857

₹13 Lakhs

12.5% p.a.

3 Years

Rs. 43,490

₹14 Lakhs

13.4% p.a.

4 Years

Rs. 37,837

₹15 Lakhs

14.00% p.a.

5 Years

Rs. 34,902

Benefits of Personal Loan EMI Calculator

There are several uses of a Personal Loan EMI Calculator. By helping you calculate Personal Loan EMI, it creates a sense of discipline and helps you manage your finances in the wake of your pending credit commitments. Here is a list of those benefits:

Know Your Dues

A Personal Loan EMI calculator helps you compute the Personal Loan EMI amount that you would need to set aside to repay your obligation.

Confidently Enter an Agreement

Once you are sure that you can fulfil the EMI payments regularly, it becomes easier for you to make a decision. You can also negotiate on the rate of interest or the loan tenure if your credit score permits it. This will help you plan your finances easily and more effectively.

Personal Loan Repayment Schedule

Our online Personal Loan EMI calculator includes a repayment schedule as well. A repayment schedule is a calendar of the periodic payments that you need to make throughout your loan tenure. The schedule separately shows the amount of the principal and interest component in each EMI that needs to be paid. It is commonly referred to as the amortisation schedule in banking parlance.

Figure out the Right Loan tenure

Once you have figured out your total loan amount and the interest you must pay on it, you will be able to select a loan repayment tenure that you feel most comfortable with.

Time-Saving and Accurate

Calculating your EMI manually through the traditional method of manual calculation is a time- and energy-consuming ordeal. On top of that, there’s more room for errors when you go the manual way. The Personal Loan EMI calculator offered for India, on the other hand, gives you an accurate answer within seconds.

What are the Factors that Affect Personal Loan EMI

The following factors affect your Personal Loan EMI:

Rate of Interest

Interest rate is the applicable lending charge that is applied on the total amount borrowed (principal). A lower interest rate lowers the EMI and vice versa.

Loan Amount

The loan amount is the total amount sanctioned by the lender. EMI is directly proportional to the loan amount. The higher the loan amount, higher the payable EMI.

Loan tenure

A longer loan tenure will reduce the EMI but with an increase in interest payments. On the other hand, a shorter tenure increases the total EMI payable. So, choose the loan tenure wisely.

How to Reduce your Personal Loan EMI

An EMI can affect your financial liquidity until you pay off the loan. However, here are some steps that you can use to reduce the EMI and make the best of financial possibilities.

Negotiate for a Lower Interest Rate

A low interest rate on a Personal Loan can save you big bucks. So, depending on your association with the lender, negotiate with them before arriving at the best rate.

Maintain a Good Credit Score

Negotiation becomes easy during loan application if you have an excellent credit score. The credit score goes a long way in determining your loan eligibility and the interest rate you pay. An excellent score, one that is over 750, will let you enjoy lower EMI costs.

Opt for a Longer Repayment tenure

A longer tenure gives you more time to make repayments. If the EMI amount at a shorter tenure is too high, you can increase the latter and pay smaller instalments.

Look for Good Deals

Bajaj MARKETS lets you choose from some of the best lenders in the market. Pick the best deal based on your repaying capacity and requirement, which will, in turn, make it into the lowest possible EMI Personal Loan option for you.

What Happens if Personal Loan EMI is Missed

There are several repercussions that you could face upon defaulting on an EMI. These include:


A penalty of about typically 1%-2% may be charged against a missed EMI. Additionally, lenders also levy a late payment fee when you miss the EMI due date.


Missed EMIs reduce your creditworthiness and affect your reputation. In spite of having a good credit score, it can deter lenders from offering you a loan.

Credit score

Defaulting can have a severe effect on your credit score. Every missed payment can bring down your score and, thus, affect your future chances of availing a loan.


  • ✔️What is a Personal Loan EMI?

    A Personal Loan equated monthly instalment, or Personal Loan EMI, is essentially the money you pay each month to repay your loan obligation. The word ‘equated’ denotes that this amount remains the same, provided factors such as the loan repayment tenure and rate of interest remain constant.

  • ✔️What is a Personal Loan EMI Calculator?

    A personal loan EMI Calculator is an online tool that prospective borrowers can use to compute their monthly financial obligation to service the loan. To compute the same, one must feed in variables such as the principal amount, rate of interest, and loan repayment tenure (in years) into the personal loan calculator.

  • ✔️How to calculate Personal Loan EMIs?

    The formula for calculating the EMI amount one will have to pay towards their Personal Loan are as follows:

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


    EMI is Equated Monthly Instalment,

    P is the principal amount, 

    R is the monthly rate of interest, and

    N is the loan repayment tenure (in months).

    The above Personal Loan EMI formula should help you arrive at a near-to-accurate estimate of your Personal Loan EMI amount.

  • ✔️How can a Personal Loan EMI calculator help determine the loan selection?

    The Personal Loan EMI Calculator can help borrowers understand their monthly obligation based on the loan amount, interest rate, and tenure. Basically, it will help the borrower understand the interest rate and repayment tenure that they are comfortable with. This will directly influence the kind of loan terms that they opt for when they apply for a Personal Loan.

  • ✔️How to calculate the Lowest EMI on Your Personal Loan?

    In order to calculate the lowest possible EMI amount for your Personal Loan, you will need to enter in the tool, the exact amount you wish to avail as a Personal Loan, the lowest interest rate that is being offered by the lender and the maximum tenure. The result that you will see on your screen post is the lowest EMI amount that you will have to pay.

  • ✔️What happens if my EMI payment bounces?

    It is advised that you maintain sufficient funds in your account for clearing loan EMIs regularly. In case of an EMI bounce, you will be charged a penalty. You could also attract other charges on further delay in paying the EMI. Most lenders also charge a late payment fee for missed EMI payments. The most troublesome aspect is that a missed EMI payment will adversely impact your credit score.

  • ✔️How do I pay my EMIs?

    Your EMIs will be auto-deducted from your bank account via automatic NACH/ECS instruction. You simply need to set up the mandate between your bank and the lender.

Personal Loan EMI Calculator Reviews

Personal Loan EMI Calculator Reviews

4.8out of 5

33 reviews

Best personal loan

It’s so easy to use the Bajaj Personal Loan EMI Calculator by just putting in loan values. The product, with its quick approval process is also amazing.

Best calculator

Bajaj has the best personal loan EMI calculator India has got and the quick response just adds to it.

Easy eligibility

Thanks to the easy eligibility process, the process of availing loan was convenient. The personal loan EMI calculator was of great help for amount estimates too.

Simple Steps

Took me less than 15 minutes to apply for a personal loan, thanks to the simple and easy steps.

Compare and Get Best Deal With Ease

I used the service to calculate personal loan EMI and got a loan deal at best available rates. Really happy right now!

No Hidden Charges

I was kind of surprised in a positive way in finding out that there are no hidden charges in the loan application process. The personal loan EMI I need to pay is also quite affordable.

Easy Process

Awesome service and easy to use the personal loan EMI calculator.

Simple Steps

I applied for a personal loan and thanks to the simplified procedures, it was disbursed quickly.

Easy Application

Glad to find that there are no complicated hurdles while calculating the personal loan EMI. The application process is also very easy. Kudos to the team!

Complete Online Process

Faced no technical hurdles while using a personal loan EMI calculator. All went smooth with the aid of online procedure.

Easy Steps

The personal loan EMI calculator has been simplified enough that even a beginner like me can operate it.

Less Documentation

I submitted my online application to avail a personal loan. To my surprise, even though the amount was quite huge, there was minimal documentation involved. Great experience!

Affordable Interest Rates

I calculated my personal loan EMI through the calculator easily. I also got the loan that too at satisfactory rates. Feeling great and would recommend it.

Quick Response

I’ll be honest, I seriously didn’t expect such a quick response while using a personal loan EMI calculator. Awesome!

Ease of Use

I didn’t really put much effort while going through the personal loan EMI calculator. All steps were crisp and straight-forward. I’d say it’s definitely worth a shot if you have never used this service before.

Simple Steps

Overall experience of availing a personal loan on Bajaj MARKETS can be summarised in two words - quick and easy. Worth it!

Quick and Smooth

Yes, the entire application for availing a personal loan was quick and hassle-free thanks to the digital process. Recommended!

Simple steps

The biggest pro was the simplified procedure to use the personal loan EMI calculator. As a not-so-experienced guy, I am really happy that things went as expected without any hurdles and I managed to successfully avail a personal loan.

Easy Application

Smooth application process to avail a personal loan I used personal loan EMI calculator before applying. I can use the funds for fulfilling my requirement. Yay!

Complete Online Process

Availing a personal loan was really comfortable for my dad since all the procedures were done online at Bajaj MARKETS, thus, being hassle-free for him.

Easy Steps

I availed a Personal Loan for home renovation. I calculated personal loan EMI through the calculator and the entire process was straight-forward thanks to the simplified steps.

Less Documentation

Love how quick and paperless the entire process is of availing the personal loan at Bajaj MARKETS. 10/10. Definitely recommended.

Affordable Interest Rates

At first I couldn’t believe about such low interest on personal loan. But all my doubts were nullified once I applied for one at Bajaj MARKETS. Paying the personal loan EMI was not a burden at all. Simply amazing!

Affordable Interest Rate

Availed a personal loan for education for my daughter. Really happy since I got the offer at best rates.

Smooth Documentation

The whole process to avail personal loan from beginning to end went smooth through complete online documentation. Worth it!

Fast Approval

My loan application got quickly approved at Bajaj MARKETS. Calculating the Personal Loan EMIs using the EMI Calculator really helped. Just wow!

Flexible Repayment Options

I availed a loan with the aid of a personal loan calculator and repaid it on my terms as the loan repayment period was very flexible. It was a fantastic, stress-free experience.

Flexible Repayment Option

With Bajaj MARKETS, there is a lot of flexibility when it comes to repaying a personal loan EMI amount which makes your life tension-free.

Quick Process

The entire process to calculate personal loan EMI from start to end is so easy and quick. No manual calculations required. My loan also got approved within minutes. Great job!

Good Service

The services offered through personal loan with the aid of personal loan EMI calculator are satisfactory and simplified enough for newbies like me. Didn’t face any issues, would recommend to others!

Simple Steps

The overall process to use a personal loan calculator is so simple and I’d recommend this to others. Calculating the EMI beforehand helps a lot to manage the finances.

Quick Approval

Approval of my application for personal loan was pretty quick and tension-free. The personal loan EMIs are very affordable too. Overall, I’m satisfied with the services offered and looking forward to coming back again.

Easy Process

The process to calculate personal loan EMI was super simple without any complications.