Personal Loan EMI Calculator

An EMI calculator helps you find out the EMI, total principal and interest payable, and the repayment schedule. The calculator requires you to provide the loan amount, tenure of loan and the interest rate being offered by a lender.

This free-of-cost tool also helps you analyse the interest and principal amount that you will have to pay every month. Even though the EMI amount remains the same throughout the loan tenure, you can witness the interest to be more than principal at start which reverses as tenure nears the end.

Why Use Personal Loan EMI Calculator by Paisabazaar?

Using a personal loan EMI calculator is simple and straightforward.

Follow these steps:

Once all details are entered, the calculator will display your estimated EMI.

Note: The actual EMI may vary based on the final interest rate offered by your lender.

*Tenure assumed here is 5 years.
Note: Interest rates as on 25th August 2025.

Check your affordability

Understand total cost of credit

Compare tenure options

Plan for prepayments/transfer

Understanding the factors that impact your loan EMIs can help reduce your cost of credit. Let us understand some key factors affecting your personal loan EMIs:

You can calculate EMI using this formula: EMI = [P x R x (1+R)^N] / [(1+R)^N – 1], where:

P = Loan Amount;
R = Monthly Interest Rate (Annual rate/12/100);
N = Loan Tenure (in months)

As manual calculations can be tedious and prone to errors, using an online personal loan EMI calculator would be a much easier and faster way to get accurate results.

Loan Amount

This refers to the sum you borrow. A larger loan amount results in higher EMIs, and conversely, a smaller loan amount leads to lower EMIs.

Interest Rate

This is the percentage of interest applied to your loan. An increased interest rate results in higher EMIs and a greater overall cost, while a decreased interest rate leads to lower EMIs and a reduced total cost.

Tenure

This denotes the duration over which you are expected to repay your loan. A longer tenure results in lower EMIs but raises the total cost, whereas a shorter tenure increases your EMIs but decreases the overall cost.

Paisabazaar’s EMI calculator helps you calculate personal loan EMIs across multiple lenders. Visit the personal loan EMI calculator page, select your bank in the “Select Your Bank” section, enter the required details, and get instant results. On selecting a bank, the calculator automatically fetches the current starting interest rate and calculates your EMI. You can make modifications as needed.