Bank of India Personal Loan EMI Calculator

Disclaimer: Bank of India is not a Paisabazaar partner and all content herein is strictly informative in nature. Paisabazaar is not affiliated with, sponsored by or in any way connected to Bank of India for personal loans. No offers/services from Bank of India are being provided by Paisabazaar for personal loans. For further information about Bank of India for personal loans, users are required to reach out directly to Bank of India.

Bank of India Personal Loan EMI Calculator

What is Personal Loan EMI? 

Personal Loan EMI is the amount payable every month until the end of the loan repayment tenure. The EMI amount includes both the principal and interest component of the personal loan. Borrowers have to pay this amount every month until the entire loan amount is repaid in full. Note that the EMI will remain the same throughout the loan tenure in case of fixed rate personal loans. 

What is the Bank of India Personal Loan EMI Calculator? 

Bank of India Personal Loan EMI Calculator is an online tool offered by Bank of India, using which the prospective personal loan borrowers can calculate the loan installment amount that they are required to pay every month. The EMI amount of personal loan may vary based on the Bank of India Personal Loan Interest Rate, loan amount and repayment tenure chosen by the borrower. Borrowers can also use Paisabazaar’s EMI Calculator for Personal Loan to choose the optimal tenure and EMIs for their Bank of India Personal Loan depending on their repayment capacity.

How to Choose Rate of Interest for the Bank of India Personal Loan EMI Calculator? 

Bank of India Personal Loan EMI Calculator offers the option of choosing ROI from a wide range of interest rates. Prospective borrowers can choose different combinations of loan amounts, interest rates and repayment tenures to find specific EMIs for each combination. That said, the final rate of interest offered for personal loan will be based on Bank of India Personal Loan Eligibility, which depends on a variety of factors such as the monthly income, age, credit score, age, repayment capacity, occupation profile, etc.

Personal Loan Interest Rate Comparison of Different Banks

Note: Interest rates updated as of 20 June 2025

Factors Affecting Bank of India Personal Loan EMI

Interest Rate

Bank of India Personal Loan Interest Rates start from 11.60% p.a. By availing personal loans at lower interest rates, consumers would have to pay lower EMIs and interest costs. On the other hand, by availing personal loans at higher rates, consumers would have to pay higher EMIs and interest costs. That’s why, it is necessary to compare personal loan interest rates offered by the top lenders before applying for a Bank of India Personal Loan.

Loan Repayment Tenure

Bank of India offers personal loans for repayment tenures of up to 7 years. By availing a personal loan for longer repayment tenures, the consumers would have to pay lower EMIs and vice versa. That said, the total interest cost of their personal loan might also increase. In that case, using a personal loan EMI Calculator would be highly beneficial in finding the optimal repayment tenure for a personal loan based on the borrower’s repayment capacity.

Personal Loan Amount

Applicants can avail Bank of India Personal Loans for up to Rs 25 lakh. The higher the loan amount, the higher would be the EMI and the total cost of interest. It is crucial to know that the eligibility for personal loan amount majorly depends on the repayment capacity and loan repayment tenure. 

Benefits of using Bank of India Personal Loan EMI Calculator

The major benefits of using the Bank of India Personal Loan EMI Calculator are as follows:

Quick and Accurate Results 

Bank of India Personal Loan EMI Calculator would help calculate complex EMI calculations in seconds and hence, save a lot of time. It would also help avoid the chances of errors that arise during manual calculations involving complicated formulas.

Improve Personal Loan Eligibility 

Banks/NBFCs usually approve the personal loan applications of individuals whose total EMI obligations, including the proposed personal loan EMI, does not exceed 50-60% of their total monthly income. Using Bank of India Personal Loan EMI Calculator will give the prospective loan applicants a good idea of their EMIs. So, the applicants exceeding the mentioned limit would be able to reduce the EMI when making their personal loan application. Further, this will help the prospective applicants to improve their chances of personal loan approval.

Healthy Credit Score

Personal loan applicants who use the Bank of India Personal Loan EMI Calculator to calculate their monthly installments would be better prepared when it comes to managing their finances for loan repayments within the given tenure. Such applicants would also have fewer chances of defaulting on their EMIs, which in turn will help improve or maintain their credit scores.

Budget Management

Because the EMI amount for personal loans availed at fixed interest rates remains constant during the entire tenure of the loan, the applicants can use the Bank of India Personal Loan EMI Calculator to find the exact amount they have to repay every month. This way, they also get the chance to adjust their monthly expenses accordingly to fit in the EMI amount.

Bottom line

Considering the above-mentioned factors, you can use the Bank of India Personal Loan EMI Calculator to determine your optimum tenure and EMI for the Bank of India Personal Loan based on your repayment capacity. You can use both the Bank of India Personal Loan EMI Calculator as well as Paisabazar’s Personal Loan EMI Calculator to find and compare the personal loan EMIs of other lenders as well.