Personal Loan EMI Calculator

An amortisation schedule refers to the table that displays the breakdown of each loan payment into principal and interest components over the loan term. This schedule can provide you with a comprehensive view of how your personal loan balance decreases over time and how much of each payment goes towards reducing the principal amount owed and paying interest.

Amortisation Schedule

A personal loan EMI calculator offers various advantages to borrowers, providing them with valuable insights and facilitating informed decision-making. Here are the key benefits:

• Accurate EMI Calculations: The calculator ensures accurate calculations of EMIs, eliminating the risk of errors commonly associated with manual computations. 
• Time-Saving: IndusInd Bank’s Personal Loan EMI Calculator saves valuable time for borrowers by automating the complex calculations involved in determining EMIs. Instant results allow individuals to assess various loan scenarios quickly.
• Ease of Use: Our Personal Loan EMI Calculator is user-friendly and requires minimal input to generate accurate results. Borrowers can effortlessly use the calculator to gain the information they need.
• Financial Planning: The calculator can help with financial planning, enabling borrowers to evaluate different loan options based on their repayment capacity and make well-informed borrowing decisions.

• Access our Personal Loan Interest Calculator given above.
• Enter the loan details, including:
  
  • Loan amount, which is the total amount you wish to borrow
    
  • Interest rate, which is the annual interest rate offered by the lender
    
  • Loan Term refers to the duration of the loan in months,
    
• Click on the ‘Calculate Now’ button to generate the results.
• The calculator will display the estimated EMI based on the input provided.
  
• Review the calculated EMI and its breakdown to learn more about your loan repayment obligations. Note the total repayment amount and the interest paid over the loan term.
  
• You can also adjust the loan amount, interest rate, or loan term in different fields of our personal loan EMI calculator to explore different repayment scenarios. 
  

You can calculate personal loan EMI using the following standard EMI formula, which considers the principal amount, interest rate, and loan tenure.

Personal Loan EMI = {P x R x (1+R) ^ n} / {(1+R) ^ n-1}

Where:

         P = Loan amount (Principal)

         R = Monthly interest rate

         n = Total number of instalments (Loan tenure in months)

The personal loan emi calculation formula essentially calculates the fixed monthly payment payable to repay the loan amount. It also takes into consideration the interest accrued over the specified loan tenure. Understanding the calculation behind the EMI formula helps borrowers estimate their monthly repayment obligations accurately.

• Loan Amount: The principal amount borrowed significantly impacts the EMI. Higher loan amounts result in larger EMIs, and vice versa.
• Interest Rate: Higher interest rates result in higher loan EMIs, while lower interest rates lead to lower EMIs for the same loan amount and tenure. You can use our calculator to cross-check this aspect.
• Loan Tenure: The duration of the loan repayment period affects the EMI amount.  If the loan repayment tenure is longer, the EMI amount is smaller. 

**Additional fees/charges, such as processing fees, can impact the overall cost of the loan.