Personal Loan EMI Calculator
Calculate your monthly EMI (equated monthly installment) for a personal loan based on the loan amount, interest rate, and repayment period.
What is a personal loan EMI
An EMI, or equated monthly installment, is the fixed monthly amount you pay to repay a personal loan over its agreed term. Each installment combines a portion of principal (the amount borrowed) with interest on the outstanding balance.
How the EMI is calculated
This calculator uses the standard amortizing loan formula: EMI = P x r x (1+r)^n / ((1+r)^n – 1), where P is the loan amount, r is the monthly interest rate (annual rate divided by 12 and by 100), and n is the number of monthly payments. Because personal loans are usually unsecured, they often carry higher interest rates than car or home loans, which increases the EMI and total interest paid.
This tool is for general planning and education. Actual loan offers may include origination fees, prepayment penalties, or other charges that this simplified calculation does not account for.