Personal Loan EMI Calculator

Your monthly EMI is


16.00% interest rate per annum

Total Interest


Total Amount


  • Loan Amount

  • Total interest

Loan Amount

Min ₹5K

Max ₹60L

Rate of Interest

Min 6%

Max 36%

Loan Tenure

Min 3 months

Max 72 months

EMI Schedule

Month Opening Balance Interest Principal Closing Balance
Sep '23 ₹ 10,00,000s ₹ 13,333 ₹ 1,61,196 ₹ 8,38,803
Oct '23 ₹ 8,38,803 ₹ 11,184 ₹ 1,63,345 ₹ 6,75,457
Nov '23 ₹ 6,75,457 ₹ 9,006 ₹ 1,65,523 ₹ 5,09,933
Dec '23 ₹ 5,09,933 ₹ 6,799 ₹ 1,67,730 ₹ 3,42,202
Jan '24 ₹ 3,42,202 ₹ 4,563 ₹ 1,69,967 ₹ 1,72,235
Feb '24 ₹ 1,72,235 ₹ 2,296 ₹ 1,72,233 ₹0.00

Benefits of Moneyview Personal Loan EMI Calculator

Plan your personal loan and EMI beforehand

Calculate your EMI beforehand to manage your finances in a better and more convinient way

Hassle free, easy to use

Our EMI calculator is easy-to-use and intuitive

Offers that are

Enjoy flexible loan tenures from 3M to 60M; choose a plan you like!

Most affordable offers

Enjoy flexible loan tenures from 3M to 60M; choose a plan you like!

No surprises,
100% transparent

Check interest rate, total repayment & terms beforehand - leave no room for doubt or surprises!

Plan Ahead

Calculate your EMI beforehand to manage your finances in a better way

easy to use

The power of human experience & technology - all packed into our app to simplify lengthy processes just with a tap

100% Transparent

Check interest rate, total repayment & terms beforehand - leave no room for doubt or surprises!

Steps to apply for personal loan

  1. Sign up using mobile number

  2. Enter basic information & check eligibility

  3. Verify your profile by uploading KYC documents

  4. Choose your loan amount and tenure

  5. Get loan disbursed directly into your bank account.

Popular Loan EMI Calculators

Personal Loan EMI Calculator Bike Loan EMI Calculator Car Loan EMI Calculator Gold Loan EMI Calculator Education Loan Emi Calculator Home Loan EMI Calculator Business Loan EMI Calculator Mortgage Loan EMI Calculator

Formula to calculate personal loan EMI

The formula for calculating EMI is as follows:
E =  P x R x (1+R)^N 

P - the principal amount that is borrowed
R - the rate of interest imposed
N - tenure in the number of months
For example -

  • Rs. 10 Lakhs is the amount borrowed (P)
  • 10.5% is the annual rate of interest imposed
  • 60 months is the tenure (n)

Then the EMI to be paid using the above formula will be:

10 Lakhs x 0.00875 x (1+0.00875)^60 
 ————————————————   = Rs.10,747

Note: The rate of interest (R) is calculated monthly i.e. it is calculated as (Annual Rate of interest/12/100) in this case (10.5/12/100 = 0.00875)

Personal loan interest is typically calculated using compound interest, which means interest is earned not only on the initial loan amount but also on the accumulated interest over time.

The formula for compound interest is: A = P(1 + r/n)^(nt)

A = the amount of money accumulated after n years, including interest.

P = principal amount

r = Interest rate

n = number of times that interest is compounded per year

t = time period the money is invested for, in years

Calculating personal loan interest becomes easier with the following tools.

Personal Loan Calculators: These online tools let you input the loan details and instantly see the estimated monthly payments and total interest paid.

Loan Amortization Schedules: These charts break down each payment into principal and interest portions, showing how the loan balance shrinks over time.

Factors that affect personal Loan EMI

A credit score is a three-digit numerical summary of an individual's credit report. A credit report includes details about the loans that have been availed previously, repayment of the same, and other financial habits.

If your credit score is high i.e. above 700 then it becomes easy for you to procure a loan at lower rates of interest and at a repayment tenure that is to your advantage. Lower the rate of interest then lower is the EMI payment to be made

EMI to be paid is directly proportional to the amount that is borrowed. Therefore, this should be factored in before availing a loan. If the loan amount is too high, it may be hard for you to repay your loan.

The term taken to repay the loan amount is inversely proportional to the EMI amount i.e. a lengthy tenure implies that the EMI amount to be paid each month is lower and vice versa.

However, taking a longer repayment term can also be a disadvantage as the overall interest paid increases.

Existing debt is not an issue as long as you don’t have too many loans running at the same time. Not only will it be hard for you to repay your EMI, lenders may also perceive you to be credit-hungry and refuse to lend to you.

Not to be confused with interest rate calculation, the type of interest chosen can have an impact on your EMI. If a floating interest rate is chosen then your interest rate may vary based on the RBI’s directives. On the other hand, a fixed rate will ensure the same interest rate throughout the repayment term.

The older you are, the harder it is to avail a loan and this is especially the case if you are closer to retirement age.

If you do not have a steady income then lenders will be wary of lending as they are unsure of your repayment ability. This is why even if you get a loan, the interest rate will be higher.

Personal Loan Related Links

Personal Loan EMI related FAQs

Your EMI will depend on three factors -

  • The amount being borrowed
  • Rate of interest
  • Repayment term

In this case, let us assume that your rate of interest is 16% per annum with a repayment term of 8 months. The easiest way to find out your EMI is to use the moneyview Personal Loan EMI Calculator

Using this calculator, the EMI for 2 lakhs personal loan is Rs. 26,523 with the interest amount coming up to Rs. 12,185.

The EMI schedule or amortization table for this example is -

Month Opening Balance Interest Principal Closing Balance
Jan 23 ₹ 2,00,000 ₹ 2,667 ₹ 23,856 ₹ 1,76,143
Feb 23 ₹ 1,76,143 ₹ 2,349 ₹ 24,174 ₹ 1,51,969
Mar 23 ₹ 1,51,969 ₹ 2,026 ₹ 24,496 ₹ 1,27,472
Apr 23 ₹ 1,27,472 ₹ 1,700 ₹ 24,823 ₹ 1,02,649
May 23 ₹ 1,02,649 ₹ 1,369 ₹ 25,154 ₹ 77,494
Jun 23 ₹ 77,494 ₹ 1,033 ₹ 25,489 ₹ 52,005
Jul 23 ₹ 52,005 ₹ 693 ₹ 25,829 ₹ 26,175
Aug 23 ₹ 26,175 ₹ 349 ₹ 26,173 ₹0.00

The formula for calculating personal or personal loan EMI is as follows:

E =  P x R x (1+R)^N 



Where P stands for the principal amount that is borrowed

R represents the rate of interest imposed

N is the tenure in number of months

A loan is repaid in the form of monthly payments known as EMI or Equated Monthly Installments. This amount comprises the principal and interest components and will depend on the amount borrowed, the interest rate imposed, as well as repayment term.

EMI can be calculated in two ways -

In order to calculate EMI in Excel, you will need to use the following formula -



  • RATE stands for rate of interest applicable on the loan
  • NPER is the total number of monthly installments/ loan tenure
  • PV represents present value/ loan amount/ principal amount
  • FV is future value or cash balance once last payment has been made. This can be omitted and the value will be counted as zero (0).
  • Type is zero (numerical 0) or 1 – this indicates when the payment is due. If payment is due at the end of the month, the type will be equal to zero. If the payment is due at the start of the month, then the type will be set as 1.

This way, using the above formula, you can easily use Excel to calculate your EMI.

The best bank or lender for your personal loan is dependent on a number of factors such as your eligibility, interest rate being charged, ease of availability, disbursal time, etc.. Some of the top banks that provide personal loans are SBI, Axis Bank, ICICI Bank, Citibank, Canara Bank, etc.

However, today there are a number of fintech players in the market today that offer instant personal loans easily. No longer will you have to submit multiple applications or documents physically, nor will you have to wait days for a loan.

moneyview is one of the top lenders in the company that offers instant personal loans of upto Rs. 10 Lakhs and require minimal documentation. Not only that, once your loan application is approved, your loan will be credited to your bank account within 24 hours.

Let's understand how a personal loan calculator can help you make informed borrowing decisions.

1. Calculating Your EMIs
The most immediate benefit of a calculator is its ability to estimate your monthly payment, the EMI. Simply input the loan amount, interest rate, and loan term, and you will get the EMIs for your loan repayment tenure displayed in just a few seconds.
This can help you with repaying the Personal Loan EMIs easily and aid you to assess if the loan fits comfortably within your budget.

2. Comparing Loans
Every lender offering personal loans provides unique terms and rates. Comparing them manually can be difficult. Use the calculator, and enter the details of different offers, and it instantly lays out the total cost of each loan, including interest and fees. This clear picture allows you to identify the most affordable option.

3. Calculate With Varying Factors
Change the variables like loan amount, interest rate, or repayment term, and see the immediate impact on your monthly payments and total loan cost. This flexibility helps you make informed choices about your finances

moneyview’s personal loan EMI calculator can help you calculate your loan EMIs instantly and will provide you with a detailed loan amortization schedule in just a few clicks. Simply set the values of your principal loan amount, interest rate, and loan tenure and you will receive the EMI details in mere seconds.

It is possible to reduce personal EMI by using the following methods.

1. Part-Prepayments
Many lenders allow you to make lump sum prepayments on your loan after you've paid a particular number of monthly payments. This minimizes the outstanding principal, resulting in reduced interest and lesser EMIs over time.

2. Opt for a Balance Transfer
If you have a high-interest personal loan, try shifting it to a lower-interest lender. This can considerably reduce your EMI and possibly shorten the term of your loan. However, before making a decision, evaluate transfer fees and other charges.

3. Increase Your Loan Tenure
While this lengthens your repayment period and causes you to pay more overall interest, it can drastically reduce your monthly EMI. If you're having trouble managing your bills right now, this could be an alternative.

4. Negotiate with your Lender
In some cases, you might be able to negotiate a lower interest rate or reduced fees with your current lender, especially if you have a good credit history and payment record.

5. Consider Debt Consolidation
If you have multiple high-interest debts, consolidating them into a single personal loan with a lower interest rate can simplify your payments and potentially reduce your overall EMI.

For More FAQs - Click Here

Get an instant personal loan from moneyview

Download the app now from Google Play


Apply for personal loan

Green Tick Success

Thank you for your interest!

We will reach out to you shortly