Personal Loan EMI Calculator

Get the EMI amount in seconds and plan your monthly instalments toward your loan with Fibe’s Personal Loan Calculator for EMIs online.

Personal Loan EMI Calculator

1,45,000
14
12
0
Total interest
0
Principal amount
1,45,000
Total amount
0

Formula to Determine Personal Loan EMI

Whenever applying for a credit facility, get an estimate of your monthly obligations to check if the offer is affordable for you.
Use the following formula to calculate your EMIs:

E = P x R x (1+r)^n/((1+r)^N – 1
The following are the meanings of the variable provided in the formula above:

1. E stands for ‘Equated Monthly Instalment’ or EMI
2. P means the principal amount
3. R refers to the applicable rate of interest
4. ‘N’ denotes the loan term or tenure

How to Calculate Personal Loan EMI?

Manually computing your monthly obligations can be tedious and time-consuming. Our Personal Loan Calculator enables you to get an estimate of your EMI without hassles. To find the estimated amount you need to pay using the personal loan interest calculator without any charges, follow this easy process:

2. Adjust the slider to choose the loan amount you wish to borrow

3. Then select the interest rate in % and the tenure in months

4. Your payable EMI amount will be displayed on the screen

Factors to Consider While Calculating the Personal Loan EMI

Before using a Personal Loan EMI Calculator, there are a few factors that you should consider. These factors can affect the EMI calculation and help you plan your finances better.
Loan Amount:

The loan amount is the principal amount that you wish to borrow from a lender or a financial institution. Your EMI amount is directly proportionate to your loan amount. This means if your loan amount is high,  then the EMI amount will also be high.

Interest Rate:

The interest rate is the rate at which the lender or financial institution charges interest on your personal loan. A higher interest rate will result in a higher EMI.

Why using a Personal Loan EMI Calculator is beneficial?

There are several advantages of using this facility to estimate the cost of credit outgo. Here are several reasons why you must use a personal loan interest rate calculator-
Better Financial Planning:

One of the most notable benefits of using a personal loan calculator is that it allows better financial planning. It gives you a clear understanding of how much EMI you will have to pay against your borrowing. You just need to decide on your loan amount and tenure and prepare your monthly budget accordingly.

Comparing Different Loan Options:

This online tool also lets you compare different lending options based on their total obligations. This helps you choose a cost-effective option.

FAQs for Personal Loan EMI Calculator

You can use Fibe’s Personal Loan EMI Calculator to determine the monthly instalment amount. Just provide the loan amount, interest rate and repayment tenure to get the EMI amount in seconds.

EMI or Equated Monthly Instalment is the monthly payout a customer needs to make against the loan. It  is generally a sum of the principal amount and interest paid on a loan that is repaid over a tenure of the customer’s choosing.

Below are the factors that affect loan EMI amount:

• Loan Amount
• Interest Rate
• Repayment Tenure

EMI Calculators help in choosing the right loan option. It gives you an understanding of how much your monthly instalment will be and how to plan your finances better.

An EMI calculator is a financial tool that helps you to calculate your EMI amount before applying for a loan. It can be used for multiple types of loans such as personal loans, home loans, etc.

You can calculate the EMI amount by following a few simple steps mentioned below:

• Go to the Personal Loan EMI Calculator
• Adjust the loan amount, interest rate and tenure by moving the sliders
• Once done, you will get the EMI amount displayed on the screen

The EMI calculator works on different factors like loan amount, tenure and interest rate. Once you provide the details, it instantly shows you the EMI amount which needs to be paid monthly toward your loan.

You can find out the your loan interest rate using the below formula:
Rate = Annual Rate of Int./12/100

To calculate the EMI amount, you need loan amount, interest rate and tenure. In this case, the principal amount is ₹5 lakh (P), interest rate is 2% (r) per month and 5 years (n) is the tenure.
You can use a personal loan EMI calculator to get the exact EMI amount in seconds or use below formula:

EMI = (P * r * (1 + r)^n) / ((1 + r)^n – 1)

The EMI amount will be ₹11,236/month in the above illustration.

If your EMI payment is missed, the lender can charge you late fees, your credit score can be negatively affected and there can be additional charges and increase in your monthly interest rate.

Personal Loan EMI Calculator Blogs

Explore all blogs

The cool new vibe to finance

Download he Fibe App the cool new vibe to finance to avail of the loan in just a few clicks from anywhere

Here's what our customers think of us!

Instant loan in minutes
I would like to thank Fibe (EarlySalary), few days back I met with an accident and I didn’t have much money to pay in one go. So, I took an instant cash advance from Fibe (EarlySalary). They helped me to clear all the medical bills in just 10 mins!

Subham Pawar

Quick and easy
The overall experience with Fibe was really good. I applied for an online personal loan and the service was very quick. The entire process was fast and smooth, and the loan was sanctioned without any hassles.

Shilpi Mukherjee