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Want to plan your payments with our personal loan EMI calculator monthly? Get clear numbers in seconds to make smarter borrowing decisions.
The personal loan EMI calculator determines your monthly loan payments. It is based on three inputs –
This digital calculator serves as a crucial instrument for anyone considering taking out a personal loan. It offers a clear breakdown of potential loan scenarios. You'll see the total interest cost and complete repayment amount upfront.
The calculator breaks down complex interest calculations into clear monthly figures.
Enter Loan Amount
Type in how much you want to borrow. Our calculator accepts amounts from ₹10,000 to ₹2,50,000.
Input Interest Rate
Select the annual interest rate. lendingplate offers competitive rates starting at 12.5% per year.
Select Loan Tenure
Choose how long you need to repay. Pick any period between 3 months to 36 months.
Review Results
See your EMI amount instantly. The calculator shows monthly payments and total interest.
Compare different loan options by adjusting the amount, tenure and interest rate. Find the perfect balance between EMI size and total cost. The EMI calculator lets you mix and match loan ingredients until you find the perfect financial recipe that suits your taste.
Know exactly how much you'll pay each month. Plan your budget around fixed EMI payments for stress-free loan management. This calculator becomes your trusted budget buddy, helping you plan with confidence and zero surprises.
Check monthly EMIs, total interest cost and final repayment amount. Make informed decisions with complete cost clarity. The EMI calculator strips away complex financial jargon, revealing your complete loan story - from monthly payments to total interest - right at your fingertips.
How to calculate EMI for personal loan? The formula looks complex but our calculator handles everything automatically.
| EMI is | Equated Monthly Instalment |
| P is | Principal loan amount |
| R is | Monthly interest rate (annual rate ÷ 12) |
| N is | Total number of months |
For a ₹1,00,000 loan at 12% interest for 12 months:
Monthly EMI = ₹8,884
Total Interest = ₹6,608
Total Repayment = ₹1,06,608
The personal loan amortisation schedule maps your monthly payments over the loan period. See exactly how your payments are split between principal and interest.
An amortisation schedule contains:
In the early stages of your loan, a larger portion of your monthly payment goes towards interest. More of your payment starts chipping away at the actual loan amount (the principal), making each payment feel more impactful. You can see how every single rupee of your monthly payment is strategically allocated between reducing your loan principal and paying off interest. Here's a sample amortisation schedule for a ₹1,00,000 loan at 12% annual interest for 12 months (with monthly EMI of ₹8,884):
| Month | Opening Balance (₹) | Interest (₹) | Principal (₹) | Closing Balance (₹) |
|---|---|---|---|---|
| 1 | 100,000 | 1,000 | 7,884 | 92,116 |
| 2 | 92,116 | 921 | 7,963 | 84,153 |
| 3 | 84,153 | 842 | 8,042 | 76,111 |
| 4 | 76,111 | 761 | 8,123 | 67,988 |
| 5 | 67,988 | 680 | 8,204 | 59,784 |
| 6 | 59,784 | 598 | 8,286 | 51,498 |
| 7 | 51,498 | 515 | 8,369 | 43,129 |
| 8 | 43,129 | 431 | 8,453 | 34,676 |
| 9 | 34,676 | 347 | 8,537 | 26,139 |
| 10 | 26,139 | 261 | 8,623 | 17,516 |
| 11 | 17,516 | 175 | 8,709 | 8,807 |
| 12 | 8,807 | 88 | 8,796 | 0 |
This schedule shows why early prepayments save more money. They cut future interest by reducing the principal faster. Regular EMIs of ₹8,884 clear this loan in exactly 12 months with a total interest of ₹6,619.
A Personal Loan EMI Calculator is more than just a digital tool. Your EMI amount changes based on a few key factors. Let us find out the aspects in the following:
Higher rates mean bigger EMIs. Even small rate changes impact your monthly payments significantly. The mathematics behind interest rates is fascinating. A slightly higher rate doesn't just incrementally increase your EMI - it can geometrically expand your total repayment amount.
Longer tenures reduce EMI size but increase total interest cost. Shorter tenures mean higher EMIs but lower overall interest. Your monthly EMIs will be higher, demanding more immediate financial discipline.
Bigger loans naturally mean higher EMIs. Borrow what you need to keep EMIs manageable. Smart borrowing means carefully assessing your actual needs, potential return on investment, and most importantly, your repayment capacity.
Smart EMI management starts before taking the loan. Managing personal loan EMIs isn't just about making payments—it's about strategic financial planning that protects your financial health and future opportunities. These proven strategies will transform your approach to loan management, helping you stay in control of your financial journey. Follow these proven tips:
Choose Affordable EMIs
Remember, every financial journey is unique. Pick EMIs that take up no more than 40% of your monthly income. Leave room for other expenses.
Compare Loan Options
Check different tenures and amounts. Find the sweet spot between comfortable EMIs and reasonable total cost. Don't just look at the price tag; examine the entire journey.
Plan for Prepayment
Managing personal loan EMIs goes beyond numbers. Consider partial prepayments when possible. This reduces interest costs and loan tenure.
Build an Emergency Fund
While repaying your loan, simultaneously build a cushion that covers 3-6 months of expenses. This strategy reduces stress during uncertain times and ensures financial flexibility.
EMI stands for Equated Monthly Instalment (which is your fixed monthly loan payment). This amount covers both principal reduction and interest costs. Your EMI stays the same throughout the loan.
This digital tool calculates your monthly loan payments instantly. Input your loan amount, interest rate and repayment period. The calculator shows your EMI and total interest (and the complete repayment figure).
We use a standard EMI formula that balances principal and interest over your chosen loan period. The formula considers loan amount, interest rate and tenure to set fixed monthly payments.
Try various loan periods from 3 to 36 months in our calculator. Longer tenures mean smaller EMIs but more interest costs. Pick what fits your monthly budget.
Our basic EMI calculator shows regular monthly payments. Contact our loan advisors for custom prepayment plans that could reduce your interest costs significantly.
Our calculator uses the exact formula banks use for EMI calculation. The figures match your actual loan EMIs perfectly when interest rates stay fixed.
Calculate EMIs for any amount from ₹10,000 to ₹2,50,000. Our calculator adjusts when you change the loan amount instantly.
The EMI calculator focuses on core repayment costs. Talk to our loan advisors about processing fees, documentation charges and insurance premiums.
Yes, your EMI stays fixed with our personal loans.
This calculator works best for personal loans.
Our online personal loan calculator assumes fixed interest rates.
Choose a longer repayment period for smaller EMIs. But remember - longer tenures mean paying more interest overall.
Missing EMIs hurts your credit score and adds late payment charges. Contact us immediately if you are having difficulties paying.
Start with your comfortable monthly payment. Work backward to find the right loan amount that matches your budget.
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Unifinz Capital India Limited is a Non Banking Finance Company (NBFC) registered with the Reserve Bank of India (RBI). lendingplate is the brand name under which the company conducts its lending operations and specialises in meeting customer’s instant financial needs.
