- IDFC FIRST Bank personal loan EMI calculator evaluates the monthly instalments and overall borrowing cost.
- It is accurate, time-saving and user-friendly.
- The results are obtained instantly.
- You can compare different scenarios of loan amount, interest rate and loan tenure.
- It assesses the financial stability of the individual and helps with planning the EMI according to the budget.
IDFC FIRST Bank Personal Loan EMI Calculator
IDFC FIRST Bank personal loan EMI calculator is a free online tool used by personal loan borrowers to calculate their loan EMI in advance. Using an IDFC FIRST Bank personal loan calculator, borrowers can check their EMI affordability, determine the optimum loan tenure for comfortable repayments and plan finances more efficiently to ensure timely loan repayments. Borrowers can also use Paisabazaar’s EMI Calculator for Personal Loan to choose the optimal tenure and EMIs for their IDFC FIRST Personal Loan depending on their repayment capacity.
Calculate Your Personal Loan EMI
Select Your Bank
₹
5K1Cr
8%30%
1Y 7Y
Your Monthly EMI Payment
₹0
Principal Amount₹0
Interest Amount₹0
Total Amount₹0
Tip Paying one extra EMI every year saves ₹19.6K in interest and closes the loan 8 months earlier.
Amortisation schedule
Monthly EMI
₹ 16,134
Total interest
₹ 80,809
Total payment
₹ 5,80,809
Principal 86%Interest 14%
Year
Principal
Interest
EMI paid
Balance
Oct
₹12.0K
₹4.2K
₹16.1K
₹4.88L
Nov
₹12.1K
₹4.1K
₹16.1K
₹4.76L
Dec
₹12.2K
₹4.0K
₹16.1K
₹4.64L
Tip Paying one extra EMI every year saves ₹5.0K in interest and closes the loan 2 months earlier.
Reducing-balance method. Final EMI may differ slightly due to rounding.
What Does This Mean?
Your EMI explained in simple language.
- Loan amount
- ₹ 5,00,000
- Interest rate
- 10% p.a.
- Tenure
- 3 yr (36 mo)
- Monthly EMI is ₹ 16,134
- Total repayment is ₹5.81 lakh
- Interest contributes 13.9% of total repayment
- Your EMI is well-balanced between principal and interest. Ensure the monthly payment stays within 55% of your net income.
- Extending tenure may reduce your EMI but increase the total interest paid
Monthly EMI
₹ 16,134
Total Interest
₹ 80,809
Total Repayment
₹ 5,80,809
Interest Share
13.9%
Features of IDFC FIRST Bank Personal Loan EMI Calculator
Comparison of IDFC FIRST Bank Personal Loan EMI with Other Lenders
| Banks/NBFCs | Interest Rates (p.a.) | EMI (Rs.)
(Loan Amount - Rs. 5 Lakh Loan Tenure - 5 years) |
|---|---|---|
| IDFC FIRST Bank | 9.99% onwards | 10,621 onwards |
| Aditya Birla Finance | 10.99% onwards | 10,869 onwards |
| Axis Bank | 9.99% onwards | 10,621 onwards |
| Federal Bank | 12.00% - 22.50% | 11,122 - 13,108 |
| HDFC Bank | 9.99% onwards | 10,621 onwards |
| ICICI Bank | 9.99 onwards | 10,621 onwards |
| IndusInd Bank | 10.49% onwards | 10,744 onwards |
| Kotak Mahindra Bank | 9.99% onwards | 10,621 onwards |
| L&T Finance | 11.00% onwards | 10,871 onwards |
| Moneyview | 14.00% onwards | 11,634 onwards |
| Piramal Finance | 12.14% onwards | 11,158 onwards |
| Poonawalla Fincorp | 9.99% onwards | 10,621 onwards |
| State Bank of India | 10.05% - 15.05% | 10,636 - 11,908 |
| Tata Capital | 10.99% onwards | 10,869 onwards |
| YES BANK | 10.85% - 21.00% | 10,834 - 13,527 |
IDFC FIRST Bank Personal Loan Amortisation Schedule
Suppose you borrow a loan amount of Rs. 15 lakh @ 9.99% p.a. for a tenure of 5 years, then the following will be your amortization schedule for 1 year. For the remaining period, the principal component will continue to increase at the same pace, while the interest portion will gradually decrease.
| Month | EMI (Rs.) | Principal (Rs.) | Interest (Rs.) | Closing Balance (Rs.) |
|---|---|---|---|---|
| 1 | 31,863.19 | 19,375.69 | 12,487.50 | 14,80,624.31 |
| 2 | 31,863.19 | 19,536.99 | 12,326.20 | 14,61,087.32 |
| 3 | 31,863.19 | 19,699.63 | 12,163.55 | 14,41,387.69 |
| 4 | 31,863.19 | 19,863.63 | 11,999.55 | 14,21,524.05 |
| 5 | 31,863.19 | 20,029.00 | 11,834.19 | 14,01,495.05 |
| 6 | 31,863.19 | 20,195.74 | 11,667.45 | 13,81,299.31 |
| 7 | 31,863.19 | 20,363.87 | 11,499.32 | 13,60,935.44 |
| 8 | 31,863.19 | 20,533.40 | 11,329.79 | 13,40,402.04 |
| 9 | 31,863.19 | 20,704.34 | 11,158.85 | 13,19,697.70 |
| 10 | 31,863.19 | 20,876.70 | 10,986.48 | 12,98,821.00 |
| 11 | 31,863.19 | 21,050.50 | 10,812.68 | 12,77,770.50 |
| 12 | 31,863.19 | 21,225.75 | 10,637.44 | 12,56,544.75 |
How Does the IDFC FIRST Bank Personal Loan EMI Calculator Work?
IDFC FIRST Bank personal loan EMI calculator works in the following steps:
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