Personal Loan EMI Calculator


Min 15k Max 1 crore

Min 2% Max 30%


Min 12 MonthsMax 600 Months

EMI Calculated

Loan Amount


Rate of Interest



24 months



Total Interest Payable : 100000

Total Amount Payable (Principal + Interest) 2600000

Year Principal Interest Ending Balance

How do I calculate my Personal Loan EMI?

Our Personal Loan EMI Calculator is easy to use and provides instant results. You can calculate the EMI by only entering the following information:

Use the slider to adjust the value to get your desired results. In case you need to add precise values, you can type the values in the relevant boxes provided next to the slider. As you change the values using the slider or hit the tab key after entering the value, the EMI is re-calculated according to the new values.

Overview of Results

After you enter the values, you will be getting the following results on our personal loan calculator:

The monthly repayment shows the Equated Monthly Instalment you will be paying as per the loan amount, loan tenure and the rate of interest you entered.

The total interest payable will be the total interest that is calculated on the basis of the values you entered.

The total amount to pay is the sum of the principal amount and the interest you are liable to pay for the stipulated interest rate, duration, and loan amount.

In short, the Personal Loan Eligibility Calculator helps you to find all the values that are necessary to determine whether you can afford a personal loan or not.

Personal Loan Eligibility

In order to qualify for a personal loan, you must meet the eligibility requirements of lender(s). Although this could vary from lender-to-lender, here are some of the common requirements to meet personal loan eligibility.

Age 18/21 years - 60/65 years
Employment Type 1. Salaried
2. Self-Employed professionals
Credit score 750 or above with a good credit history
Minimum Net Income (Monthly)
  • ₹15,000(non-metro cities)
  • ₹20,000( metro cities)
Loan Amount Up to ₹50 lacs depending on the credit profile
Work Experience


  • Employed at current company for at least 6/12 months


  • Business tenure of at least 3 years (continuous)
  • ITR of last 3 years

Personal Loan Interest Rates of 2018

IndiaLends offers personal loans from 40+ lenders at interest rate starting at 10.75%. To know the personal loan interest rates of 2018 offered by different lenders, click here.

Bank Name Interest rate (p.a) Loan amount
Yes Bank Starting from 10.75% ₹1 lakh - ₹25 lakhs
ICICI Bank 10.99% - 17.99% ₹50k - ₹25 lakhs
HDFC Bank 10.99% - 20.00% ₹50k - ₹40 lakhs
Kotak Bank 11.00% - 24.00% ₹1 lakh - ₹30 lakhs
Tata Capital 11.49%-19.00% ₹75k - ₹20 lakhs
IndusInd Bank 11.49% - 20.00% ₹1 lakh - ₹20 lakhs
IDFC First Bank 11.69% - 15.00% ₹1 lakh - ₹20 lakhs
Bajaj Finserv 12.00% - 16.00% ₹1 lakh - ₹20 lakhs
IIFL 12.00% - 20.00% ₹1 lakh - ₹20 lakhs

Factors That Affect Interest Rates On A Personal Loan

The interest rate offered on a personal loan depends on various factors. Some of the important factors are:

Features and Benefits of a Personal Loan EMI Calculator

A personal loan EMI calculator helps you calculate EMI and interest cost of your personal loan. There are a lot of benefits associated with a Personal Loan EMI calculator. Here are a few features and benefits of using an EMI calculator:



How can IndiaLends help me get best personal loans deals?

IndiaLends is the one-stop solution for your money-related worries. We provide personal loan offers from 40+ lenders at minimal documentation. With EMI starting at ₹1400, we can help you connect with lenders based on your personal loan eligibility. With our algorithms with machine learning, we will find the best suitable bank/NBFC offering minimal interest rate.

Some of the other reasons to apply for a personal loan via IndiaLends are given below:

Personal Loan EMI Calculator FAQs

Q. How loan EMI is calculated?

A. The traditional method to calculate EMI is using the formula EMI = [P x R x (1+R)^N]/[(1+R)^N-1], where P stands for the principal, N is the monthly instalments and R is the rate of interest. The modern method is using an EMI calculator which uses the same formula, however is easy to calculate.

Q. What is the EMI process?

A. The EMI process includes paying the EMI or Equal Monthly Instalments which includes the principal amount and interest each month. The process involves equal payment made by the borrower to the lender on a specified date of every month.

Q. What is EMI calculator?

A. An EMI calculator is used to calculate EMIs of a loan and the total interest payable on a loan. It helps you save time and give accurate results.

Q. What is the difference between down payment and EMI?

A. A down payment is the amount paid upfront at the starting of a loan which is part of the total amount due. This amount is reduced from the total outstanding amount before calculating the EMI. An EMI is a fixed payment made at a specified date each calendar month.

Q. Can a debit card be used for EMI?

A. Certain lenders provide the facility of using a debit card for EMI payments. However, this is completely at the sole discretion of the bank and the terms of service depends on the lender.

Q. How do you calculate the interest on a loan?

A. You can calculate the interest rate by the number of payments to be made in a calendar year as interest rates are expressed annually. The formula to calculate interest of a loan is: (Interest rate/No of payments) x loan principal.

Q. What do you mean by no cost EMI?

A. A no cost EMI means the purchase of items through EMIs without any additional costs. The additional cost in this situation involves processing fee, interest cost and others.

Q. What is the PMT formula?

A. PMT formula is used to calculate loan payments on Excel. The PMT function calculates the loan payments that has constant payments and a fixed interest rate.