Personal Loan EMI Calculator

With a Personal Loan EMI calculator, you can easily calculate your monthly EMI online and plan your loan effectively....

Use the Moneyview online Personal Loan calculator below to enter the amount you need to borrow, the interest rate and the tenure to instantly calculate your EMI and even the breakdown of your installments.

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Your EMI




Loan Amount
Rate of Interest

Your EMI




  • Loan Amount

  • Total interest

EMI Schedule

Month Opening Balance Interest Principal Closing Balance
Jun '21 ₹ 5,00,000 ₹ 6,667 ₹ 80,598 ₹ 4,19,401
Jul '21 ₹ 4,19,401 ₹ 5,592 ₹ 81,672 ₹ 3,37,728
Aug '21 ₹ 3,37,728 ₹ 4,503 ₹ 82,761 ₹ 2,54,966
Sep '21 ₹ 2,54,966 ₹ 3,400 ₹ 83,865 ₹ 1,71,101
Oct '21 ₹ 1,71,101 ₹ 2,281 ₹ 84,983 ₹ 86,117
Nov '21 ₹ 86,117 ₹ 1,148 ₹ 86,116 ₹0.00

Personal Loan EMI Calculator

MoneyView has come up with an easy-to-use EMI calculator. With our Personal Loan EMI Calculator, you can easily find out your EMI as well as a breakdown of the installments based on different interest rate slabs, repayment tenure, and the amount borrowed.

How Does Our Personal Loan EMI Calculator Work?

All personal loans need to be repaid with EMIs which need to be made throughout the entire loan repayment tenure. This is a fixed or sometimes a variable amount that will have to be made by the borrower to the lender. The EMI is decided based on the amount borrowed as well as the interest rate charged. The applicant's credit score has a significant impact on both the repayment tenure as well as rate of interest imposed.

Our personal loan interest rate calculator is tailored to be extremely user friendly. Follow the steps below to calculate your monthly EMI online and plan your finances effectively.

  • Enter the loan amount that has been borrowed. You can use the slider to adjust the amount

  • Next, add the rate of interest that is charged. This can again be adjusted by using the slider

  • Lastly, enter the repayment tenure that you have chosen in either months or years

And voila, the EMI amount to be paid will be displayed along with the EMI repayment schedule.

The MoneyView Personal Loan EMI Calculator comes with a number of features such as quick and easy EMI calculation and therefore, reduces the chances of error. Using this calculator, individuals can also check the EMI they may have to pay before availing a personal loan and in turn manage their finances efficiently.

Personal Loan EMI Calculation Formula

The formula for calculating EMI is as follows:

P x R x (1+R)^N / [(1+R)^N-1]

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

For example, if Rs. 5,00,000 is the amount borrowed (P), 10.5% is the rate of interest imposed (R), and the 60 months is the tenure (n), the EMI to be paid using the above formula will be:

5,00,000 x 0.00875 x (1+0.00875)^60 / [(1+0.00875)^60-1] = Rs. 10,747

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)

The above formula can be used to calculate EMIs for all types of loans and not just personal loans, unless mentioned otherwise.

Loan Payment Details

Year Principal Interest Total Payment Balance


























Difference Between Flat Balance and Reducing Balance Interest Calculation

One of the most important determinants of the EMI is the loan principal or the amount that has been borrowed. EMI calculation is made in two ways i.e. flat balance method or reducing balance interest rate method.

In case of the flat balance method, the interest amount that is payable is based on the entire loan amount for the entire duration of the loan repayment tenure and therefore, the EMI amount does not change throughout the loan repayment tenure.

If EMI calculation is made using the reducing balance interest rate then the interest is calculated on the principal amount that is outstanding for each time instead of the full amount that is borrowed. Therefore, the principal amount decreases with each successive payment as the tenure progresses. This is generally the method used by banks to calculate the EMI and is the basis for the MoneyView Personal Loan EMI calculator as well.

Factors that Affect Personal Loan EMI

There are a number of factors that affect the EMI payments for a Personal Loan. Some of these include:

  • Credit Score and Rate of Interest

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 the credit score of an individual is high i.e. above 700 then it becomes easy for him/her to procure a loan at lower rates of interest and at a repayment tenure that is to their advantage. Lower the rate of interest then lower is the EMI payment to be made

  • Loan Amount

EMI to be paid is directly proportional to the amount that is borrowed. Therefore, this should be factored in prior to availing a loan

  • Repayment Tenure

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

Personal Loan EMI Related FAQs

Unsecured loans that do not require collateral, personal loans unlike education loans, home loans, or auto loans can be used for a variety of purposes, from paying off credit card bills to unexpected medical bills to fun vacations. These loans are easier to avail but come with an interest rate that is slightly on the higher side.

An equated monthly installment or EMI is a fixed amount that is made by the borrower to the lender on a specific date every month or as agreed upon by both parties. The amount borrowed, interest rate charged, and repayment tenure play a role in determining the EMI.

This is a complete table of periodic loan payments to be made during the repayment tenure. Amortization schedule shows the principal amount as well as rate of interest that is a part of the EMI paid during the tenor, until the loan is fully repaid.

One can reduce their personal loan EMI by either borrowing a lower amount or through longer repayment tenure. While increasing the repayment tenure can reduce the amount to be paid, it will increase the interest amount that is paid over time. However, if the applicant has a high credit score, then he/she can negotiate for a lower rate of interest which can again reduce the amount to be paid as EMI.

Not paying the EMI for a personal loan can attract heavy penalty in the form of additional interest on the unpaid amount as well as late payment fees. This will also be mentioned in the credit report of the borrower which will have a detrimental effect on his/her credit score making it difficult for the borrower to avail loans at a later time.

Customers must note that there are generally two ways to change/reduce the amount paid towards EMI. Either pre-payment must be made on the loan which will reduce the amount to be repaid or the borrower must negotiate with the lender for an extension of the repayment tenure or to reduce the interest imposed.

There are hundreds of lenders in the market offering personal loans that are advertised at competitive rates of interests. But most of them have hidden charges that applicants find out about much later. At MoneyView, transparency is given utmost importance along with customer service. Which is why, at MoneyView, personal loans of up to Rs. 5 lakhs can be availed at interest rates starting at just 1.33% per month. The repayment tenure can also be chosen based on the borrower's comfort and can extend up to a period of 5 years. Additionally, the entire process is completely secure and paperless therefore extremely convenient as well.

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