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Personal Loan EMI Calculator

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Personal Loan EMI Calculator

Also available : Home Loan EMI Calculator | Car Loan EMI Calculator
Move the slider or enter your details in the box to calculate your Personal Loan EMI
Monthly loan EMI - Rs.
 
Principle
Interest
Amount payable - Rs.
Interest amount - Rs.
Principle amount - Rs.
 
Loan Amount : Rs
 
Tenure : years
 
Interest : %

EMI Calculator

EMI is a fixed payment made by a borrower to the lender every month to payoff both interest and principal. A person generally has limited monthly income month and there are various expenses to be met with that limited source of income. The banks or the lenders therefore break up the loan repayment in installments where the principal and the interest rate of the loan are amortized over the period of the loan term. This is repayment schedule is known as EMI. The value of the EMI depends upon the loan amount, interest rate charged for the loan and the loan duration. This calculator allows you to calculate the EMI (Equated monthly installments) for a given loan amount, interest rate and loan tenure. You can use this calculator to check the EMIs for different periods to decide which would be most suitable for you. You can also see how the change in interest rate affects the EMI and help you find out the effect of change in loan amount on the EMI. Your loan EMI will be higher in case you decide to pay your loan within a short-period compared to a long-period. Similarly, EMI will be higher for a higher loan amount and higher for a higher interest rate.

It can be used for any type of loans including home loan, personal loan, car loan etc. This calculator doesn't tell you if you will qualify for the loan. Assumptions:

  • The interest rate remains fixed during the loan tenure
  • Interest rate is compounded monthly
  • Processing & other charges which may applicable as per the rules of banks and other lending institutions are not taken into account.

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How to avoid penalty on your home loan emi when you change your savings bank account

We cannot think of repaying a loan without Equated Monthly Instalments (EMIs). By depositing the required sum every month, EMIs ensure that the loan repayment is regular, systematic and timely. It is done in two ways: through post-dated cheques (pdcs) and electronic clearing system (ECS). Let us consider the first method here. Anuj has taken


Why your EMI dont change

SHILPA had taken a housing loan in December 2007. With an 11 per cent floating interest rate, she pays an EMI of Rs 9,100 and has Rs 8 lakh outstanding. Shilpa's bank declared a 50 basis point reduction in rates in the first week of April. However, when she checked out the details of


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Housing loans are long-term loans that continue over a number of years, hence implications of even a small change here can be quite big, especially when it is related to interest rates. Arjun had taken a housing loan of Rs 10 lakh for 15 years at an interest rate of 7.5 per cent a

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Comments on this Article
man
January 31, 2010 04:06 pm
niranjanreddy says :
Hi hai i need housing loan can u help me with effective interestrate
man
January 29, 2010 04:29 pm
j.mohammedkasim says :
please tell me procedure for home loan
man
January 27, 2010 12:06 am
shailendra says :
hi i want home lone for my new house thanks
man
January 23, 2010 01:13 am
Pranav says :
i want a loan on rent can u plz help me
man
January 19, 2010 06:13 pm
pradeep singh says :
i want to sell property to my brother how can he gets loan
man
January 18, 2010 03:33 pm
vishwas nirmal says :
please tell me what is the document required for homeloan in sbi.
man
January 18, 2010 01:45 pm
pawan kumar saini says :
hi, i need loan for bussiness
man
January 18, 2010 11:39 am
Isaq Ahmed says :
Hi I wana take home loan of 10 Lakhs At what interst rate do i get the loan?
man
January 18, 2010 10:53 am
vilas v. bhosale says :
hi, i need loan for bussiness
man
January 18, 2010 10:51 am
vilas bhosale says :
hi, i need loan for bussiness
1   2 Next
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