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Calculate Your Personal loan EMI

Loan Amount
Tenure
  • Months
  • Years
Rate of Interest
%

Monthly EMI

at % interest rate for months

Total Amount Payable
Principal Amount
Total Interest Amount
Year Principal Interest Balance

How to Calculate EMI for Personal Loan?

The Personal Loan EMI calculator, available on Bajaj Markets, helps you calculate the amount you must pay each month to repay your loan. To compute the EMI amount, enter the principal amount, the interest rate, and the duration of the loan repayment tenure in the calculator. 

Disclaimer

The calculation results are based on the values you enter in the calculator. Your EMI amount (including the actual interest amount charged) will depend on the prevailing rates. The results are neither certified nor guaranteed. The repayment schedule presented is for illustration purposes. Confirm the values with your lender prior to applying for the personal loan.

FAQs & Support

What is a Personal Loan EMI?

A Personal Loan equated monthly installment (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.

How is EMI Calculated?

Personal Loan EMI Calculation Formula

 

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

where,

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).

How can a Personal Loan EMI calculator help you select a loan offer?

The Personal Loan EMI Calculator can help you compute EMIs based on the loan amount, interest rate, and tenure.

What is a personal loan amortization schedule?

A personal loan amortization schedule is an overall assessment of your EMIs, including the principal amount and interest component of the repayment amount. The table can help you decide the right time to opt for a balance transfer or loan prepayment and foreclosure.

What are the factors which can affect your personal loan’s EMI?

The loan amount, interest rate, loan tenure, and any additional fees or charges imposed by the lender have a direct impact on your personal loan’s EMI.

How to calculate the EMI of a personal loan?

Use the online EMI calculator available on Bajaj Markets to find the EMI amount. Enter the loan amount, interest rate, and tenure to receive the EMI amount instantly.

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