Principal Amount
Total Value
Total Interest
Monthly EMI
Personal loan EMI is the specific amount borrowers need to pay lenders every month on a particular date. The personal loan EMI amount has two parts, including the principal and the interest.
A personal loan EMI calculator online requires you to specify particular details. After that, it will automatically reveal the personal loan EMI amount to you. Using a personal loan EMI calculator removes the need for manual calculation, which is time-consuming and error-prone.
Personal loan EMI is determined on the basis of the following factors:
Anyone wondering how to calculate EMI for personal loan can use this mathematical formula:
[P x R x (1+R)^N]/[(1+R)^N-1]
Here, P stands for principal amount that is borrowed as a loan, R stands for rate of interest that is applied on the loan amount & N is the loan repayment tenure or the number of monthly installments that you will have to pay.
The right steps to use a personal loan EMI calculator are as follows:
A personal loan EMI calculator acan provide you with an accurate idea about your EMI amount. The tool ensures that you don’t have to use the error-prone and time-consuming method of manually calculating the personal loan EMI. A personal loan EMI calculator online ensures that you can plan your finances accordingly to repay the EMI amount conveniently every month.
The different factors that are responsible for affecting the EMI amount of your personal loan are as follows:
The different advantages of using the IIFL personal loan calculator are as follows:
The IIFL personal loan EMI calculator removes the need for manual calculation. Once you input the necessary information, the calculator will instantly show the EMI amount. If you mention all the details correctly, the EMI will be calculated correctly.
The process of using the personal loan calculator is straightforward and convenient. Anyone can calculate their personal loan EMI using it by entering the right details.
The online personal loan EMI calculator is free to use. You will be able to use it multiple times to compare personal loan EMIs from different lenders.
A personal loan EMI calculator can be used multiple times. It ensures that you can compare the loan terms from different lenders to find the one with the most affordable EMI.
You can change the interest amount and the tenure multiple times on the calculator to check the EMI. It will help you determine whether you should go for a long loan tenure with a high interest rate or a low interest rate with a short tenure.
A personal loan EMI is a monthly payment toward the principal and interest amount of your personal loan. You will have to pay a certain amount every month to the lender throughout the tenure of your personal loan.
The factors that will influence your personal loan EMI include the principal amount, tenure, and interest rate.
Anyone wondering how to calculate EMI for personal loans must know that there is a mathematical formula for it. But if you need a more reliable and convenient method of calculating your personal loan EMI, use an online personal loan EMI calculator.
The personal loan interest is calculated on the basis of the credit score, repayment history, income potential, and various other factors.
Invest wise with Expert advice
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
Download The App Now
Follow us on
2025, IIFL Capital Services Ltd. All Rights Reserved
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.
