Calculate your monthly personal loan repayments (EMI). Adjust your loan amount, interest rate, and tenure to see your total payable interest, a dynamic monthly cost breakdown, and a complete amortization schedule.
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Key Features of Personal Loan EMI Calculator
- EMI Formula Engine Applies the standard compound-interest EMI formula to calculate a fixed monthly payment that fully repays principal and interest over the chosen tenure.
- Yearly Amortization Schedule View a year-by-year table showing opening balance, principal paid, interest paid, and closing balance for every year of the loan.
- Flexible Tenure Input Enter tenure in months or years to match how lenders quote your loan term, with instant recalculation on every change.
- Total Cost Transparency See the total amount payable and total interest charged upfront — not just the monthly EMI — so you understand the true cost of borrowing.
Personal Loan EMI Calculator Examples
Standard Personal Loan
Calculate the EMI for a $10,000 personal loan at 12% annual interest over 36 months.
Input
Loan Amount: $10,000, Interest Rate: 12% p.a., Tenure: 36 monthsOutput
Monthly EMI: $332.14. Total Interest: $1,957.15. Total Payable: $11,957.15.Higher-Rate Short Loan
A $5,000 emergency loan at 18% for 12 months.
Input
Loan Amount: $5,000, Interest Rate: 18% p.a., Tenure: 12 monthsOutput
Monthly EMI: $458.41. Total Interest: $500.97. Total Payable: $5,500.97.How to Use Personal Loan EMI Calculator
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1. Enter Loan Details
Enter the loan amount and the annual interest rate charged by the lender.
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2. Set Tenure & Start Date
Choose the loan tenure in months or years and set a start date to generate the full repayment schedule.
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3. Review EMI & Schedule
See your monthly EMI, total interest payable, total amount due, and the complete amortization schedule.
Common Use Cases for Personal Loan EMI Calculator
- Personal Loan Comparison Compare EMIs and total interest costs for different lenders by adjusting the interest rate — see exactly how much a 0.5% rate difference saves over the loan term.
- Loan Tenure Planning Balance a comfortable monthly payment against total interest paid by experimenting with shorter and longer tenures before committing.
- Monthly Budget Planning Confirm a loan fits your monthly cash flow by verifying the EMI against your income before applying.
The Technical Details
EMI is calculated using the standard reducing-balance formula: EMI = P × [r(1+r)^n] / [(1+r)^n − 1], where P is the principal loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the total number of monthly payments. Each month’s interest is charged only on the outstanding principal, which decreases with every payment — this is reducing-balance (not flat-rate) interest. All calculations execute entirely in the browser; no financial data is sent to any server.
Frequently Asked Questions
What is an EMI?
EMI (Equated Monthly Installment) is the fixed monthly payment to repay a loan over its tenure, covering both principal and interest in equal amounts each month.
How is EMI calculated?
EMI = P x [r(1+r)^n] / [(1+r)^n - 1], where P is the loan principal, r is the monthly interest rate (annual rate divided by 12), and n is the total number of monthly payments.
Is my data sent to a server?
No. All calculations run locally in your browser. Your financial information is never uploaded or stored anywhere.
Can I use this for home, car, and personal loans?
Yes. The EMI formula applies equally to all fixed-rate installment loans regardless of loan type.