FINBIZTOOLS
Personal Loan EMI Calculator
Explore personal loan EMI, total interest and repayment schedules.
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Fixed-rate reducing-balance illustration. Lender charges and insurance are excluded; this is not an actual loan offer.
How it works
Enter the loan principal, fixed annual interest rate and tenure in whole months. View the estimated EMI and expand the monthly amortization schedule. The year-wise table aggregates payment, principal, interest and outstanding balance.
Formula
EMI = P × r ÷ [1 − (1 + r)^(−n)], with r = annual rate / 1200. At zero interest the payment is principal / months. The monthly reducing-balance formula is shared with the existing EMI calculator.
Example
A ₹1,20,000 interest-free loan repaid over 12 months has a ₹10,000 monthly payment. Adding interest increases total repayment. For a fixed principal and rate, a longer tenure usually reduces the monthly payment but increases total interest.
Assumptions
This is a fixed-rate illustration, not a loan offer or eligibility decision. Lender fees, insurance, prepayment charges and floating rates are excluded. Rounding may differ from your lender’s schedule.
Frequently asked questions
Does a longer tenure lower the EMI?
At the same principal and positive fixed rate, it generally lowers monthly EMI but increases total interest.
Are prepayments included?
No. This model assumes the scheduled monthly payments only.
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Disclaimer
This calculator provides an estimate based on the assumptions entered and does not guarantee investment returns. Results are informational, not financial, lending, tax or legal advice. Verify important decisions with a qualified professional. See our Disclaimer.