Personal Loan EMI Calculator

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Calculate your Personal Loan EMIs

Enter loan details to get EMI amount, total payable amount, and interest amount.

Loan Amount (in rupee)



Interest Rate (in %)



Loan Term (in months)



Total Interest Payable

Total Payment
(Principle + Interest)

Your EMI is

Personal Loan Calculator

When it comes to taking a personal loan, it’s important to make informed decisions. And a personal loan calculator can make that process easier for you. Say goodbye to complex mathematics and calculation errors because you can find out your EMI in a few clicks of a button. Just enter your loan amount, interest rate and tenure to see what your monthly payments look like. Calculating your EMI before even availing the personal loan can help you compare loan offers across various lenders and get the best terms of borrowing. 

Factors that Affect a Personal Loan EMI Amount

Your personal loan EMI contains 3 main components : your loan amount, interest rate charged and loan tenure. A change in any of these components can change your EMI amount. There are some factors that can affect these components. 

Credit Score

Your credit score is so much more than a 3-digit number. It doesn’t only determine your creditworthiness but also acts like a golden ticket to high value loans. If you have a high credit score, you automatically get approved for loans with lower interest rates and longer tenure helping you reduce your EMI. 

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Monthly Income

Your monthly income determines your repayment capacity. A high and steady income is often seen as a green flag among lenders. This can help you get a lower interest rate that automatically reduces your monthly EMI. 

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Debt to Income Ratio

Debt to Income Ratio is the percentage of your monthly income that goes into paying EMIs. The amount you pay in your EMIs should not be more than 40-50%. Otherwise, you may have to pay high interest on your loans, increasing your monthly EMI. 

Competitive interest rate

How to use the Personal Loan EMI Calculator?

Step 1 to use the Personal Loan EMI Calculator

Enter the loan amount you want to avail.

Step 2 to get an emergency loan

Enter the annual interest rate for personal loan

Step 3 to use the Personal Loan EMI Calculator

Enter the no. of EMIs you want to repay the loan in

Step 4 to use the Personal Loan EMI Calculator

Adjust values to determine the best EMI plan

How Personal Loan EMI calculator works

Here is the formula used to calculate EMI amount, total payable amount and interest amount:

E = P x R x (1+R)^N / [(1+R)^N-1], where

E is your personal loan EMI amount

P is the amount you are borrowing from the loan provider

R is the monthly interest rate

N is the no. of months of EMI payment

For example – Let’s say you want to avail a personal loan of Rs. 50,000 for a period of

12 months at a monthly interest rate of 1%. Then,

P (loan amount) = Rs. 50,000

R (interest rate) = 1%

N (loan tenure) = 12 months

Thus, EMI = 100000 x 0.01 x (1+0.01)^12 / [(1+0.01)^12-1] = 4189.27

So, your personal loan EMI amount would be approx. Rs. 4189 for 12 months.

Benefits of Using an EMI Calculator for Personal Loan

With a personal loan EMI calculator, you can adjust the tenure to determine the EMI amount that you can afford to pay comfortably. 

personal loan emi 1

You can use the EMI calculator to compare loan offers from different personal loan providers and make an informed decision based on the most favourable terms. 

personal loan emi 2

Knowing more about your EMI amount, total amount to be repaid and the interest component of the loan will give you transparency on the financial implications of the loan. 

personal loan emi 3

Should I Prepay My Personal Loan Early

Prepayment of your loan is when you pay off a partial or complete outstanding amount before the due date. While it can free you from your financial obligations early, there are some factors that you need to consider. 

Prepayment Charges

Depending on your lender, there are some additional charges associated with prepaying your loan. The charged amount is different for different financial institutions.   

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Total Savings on Principal Amount

Before you opt for personal loan prepayment, make sure you understand the total savings on your outstanding amount. Compare this with other options like pre-closure or part payments to see where you will save the maximum amount of money.  

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Personal Loan benefits

Whether it’s a brand-new bike, that much needed vacation, or an upskilling course that can help you get that promotion, a personal loan can turn all your dreams into reality.

Take an online personal loan & get a quick approval without pledging any collateral. Apply on the Zype app to get loans up to Rs 5 lakhs & repay in flexible EMIs. Click here to apply now.

Frequently Asked Questions

How Are Personal Loans Calculated?

Personal loans are calculated by using the formula E = P x R x (1+R)^N / [(1+R)^N-1], where

E – personal loan EMI amount

P – amount you are borrowing from the loan provider

R – monthly interest rate

N – no. of months of EMI payment

What is the Repayment Period for a Personal Loan?

The period of repayment for a personal loan is generally between 3 months to 5 years.  

With Zype, you can choose between flexible EMI options of 3,6,9 or 12 EMIs. 

How is Calculating Personal Loan EMI Useful?

Easy & Quick Calculation: A personal loan EMI calculator provides easy and quick calculations for monthly loan payments just by entering loan amount, interest rate, and tenure.

Helps in budgeting: Personal loan EMI calculator allows you to adjust the loan amount, tenure, and interest rate to see the EMI amount you have to repay, helping you plan your budget more effectively.

Accurate and reliable: A personal loan EMI calculator provides accurate and reliable results which avoids the need for any form of manual calculation.

What are the Interest Charges on an Personal Loan?

The interest rate on your personal loan can vary from lender to lender.  

Zype offers personal loans up to Rs 5 lakhs starting at just 1.5% per month.

How To Calculate Personal Loan EMIs?

You can use Zype’s user-friendly and super-fast EMI calculator to calculate your personal loan EMIs. Just enter your loan amount, interest charged and tenure to find out your EMIs in seconds. 

How To Reduce Your Personal Loan EMIs?

If you have a good credit score, a stable income and clean repayment history you will get a loan at a lower interest rate which will automatically reduce your EMI. When selecting your repayment plan, choose a longer repayment tenure. This will also help you reduce your monthly EMIs. 

What Happens If I Skip My EMI Payment?

If you skip your EMI payment, you might face some negative consequences like penalty charges, decrease in credit score and even recovery calls from loan agents. 

What Is A Personal Loan Amortization Schedule?

Personal loan amortization schedule is a detailed table that contains all the information about your repayment. It further breaks down your EMI payments into outstanding amounts and interest.

How Do I Determine The Applicable Rate Of Interest On A Personal Loan?

You can use the formula given below to determine your applicable rate of interest on a personal loan: 

Interest = Principal * Rate * Tenure

How Can A Personal Loan EMI Calculator Help You Determine A Suitable Loan Amount?

When you use a personal loan EMI calculator to calculate your EMIs, you get a clear idea about the monthly repayment you will be making towards your outstanding loan. This can help you assess whether the loan amount you’re planning to take fits your budget or not.

How Is The Personal Loan EMI To Be Paid?

A personal loan EMI is to be paid every month throughout your loan tenure according to your repayment plan. The amount you pay towards your outstanding loan includes the additional charges like interest rate, processing fees, etc. 

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