# Personal Loan Calculator

As the name suggests, a personal loan EMI calculator is there to help you calculate the EMI amount on your personal loans. With this tool, you can easily plan your finances. It is designed to help you balance the inflow and outflows of money so that you don’t have to go through any kind of financial burden or setback. With this tool, you will never face any kind of issue as far as money management is concerned.

0

30L

5

7.5

10

12.5

15

17.5

20

22.5

25

12

24

36

48

60
Loan EMI
Total Interest Payable
Total Payment
(Principal + Interest)
Interest Percentage

## Here's the formula to calculate the Personal Loan EMI:

Where

E is EMI

P is Principal Loan Amount

N Loan tenure in months

R Monthly interest rate

The rate of interest (R) on your loan is calculated per month.
R = Annual Rate of interest/12/100

For example : Let’s say you took a personal loan worth INR 6,00,000 at an interest rate of 15% for 2 years, this is what you will need to pay as EMI.

EMI = ₹6,00,000 * 15/100/12 * (1+15/100/12)24 / (1+15/100/1224 - 1)
= ₹29,092

### How to use Personal Loan EMI Calculator?

• Use the slider for selecting the loan amount.
• After that, you will need to select the loan tenure in month format.
• Move the slider for selecting the rate of interest.
• The calculator will show you the EMI payable, Total interest, and Total Payable Amount.
• You can easily recalculate your EMI anytime all you need to do is change the input sliders accordingly.
• EMI will be calculated instantly when you move your sliders.

### Benefits of Personal Loan EMI Calculator

A Personal Loan EMI Calculator is a very useful tool that can help you get a clear picture of your financials and fetch you a number of the EMI that you would need to pay on a monthly basis. Plus, it helps you gauge your repayment capacity as well.