Personal Loan EMI Calculator

Get the EMI amount in seconds and plan your monthly instalments toward your loan with Fibe’s Personal Loan EMI Calculator online.

Personal Loan EMI Calculator

Personal Loan EMI Calculator

1,45,000
14
12
Your monthly instalment:
0
Total interest
0
Principal amount
1,45,000
Total amount
0

How to Calculate Your Personal Loan EMI?

Manually calculating your EMI can be tedious and time-consuming, so using an EMI calculator online is ideal. Our Personal Loan EMI Calculator enables you to get an estimate of your EMI without hassles. It helps you figure out your payouts beforehand and manage your loan repayment better.

Our easy-to-use Personal Loan EMI Calculator makes the process super simple and provides you with the projected EMI amount instantly. To find the estimated amount you need to pay using the personal loan interest calculator, follow this easy process:

1. Visit our official website or download the Fibe App and navigate to the ‘Personal Loan EMI Calculator’

2. Adjust the slider to choose the loan amount you wish to borrow

3. Then select the interest rate in % and the tenure in months

4. Your payable EMI amount will be displayed on the screen

This online tool is free to use as many times as you wish. You just need to move the sliders and adjust them to enter the exact inputs.

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Factors to Consider While Calculating the Personal Loan EMI

When estimating your loan outgo amount using the personal loan interest calculator, it is crucial to evaluate certain factors. The factors impacting the amount of EMI you need to pay include the following:
Loan Amount:

The principal amount is the money that you borrow from a lender. The EMI you pay depends on this amount. Simply put, the higher the loan amount, the higher the EMI.

Interest Rate:

This is the percentage at which the lenders charge you interest on the borrowed sum. Interest rates and the EMI also have a direct relationship as the EMI amount rises if the interest rate increases.

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Why Using a Personal Loan EMI Calculator is Beneficial?

There are several advantages of using an EMI calculator online to estimate the cost of personal loan outgo. Here are several reasons why you must use this online tool:
Better Financial Planning:

One of the most notable benefits of using a Personal Loan EMI Calculator is that it allows better financial planning. It gives you a clear understanding of how much EMI you will have to pay against your borrowing. You just need to decide on your loan amount and tenure and prepare your monthly budget accordingly.

Comparing Different Loan Options:

This online tool also lets you compare different lending options based on their total obligations. This helps you choose a cost-effective option.

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FAQs for Personal Loan EMI Calculator

You can use Fibe’s Personal Loan EMI Calculator to determine the monthly instalment amount. Just provide the loan amount, interest rate and repayment tenure to get the EMI amount in seconds.

EMI or Equated Monthly Instalment is the monthly payout a customer needs to make against the loan. It  is generally a sum of the principal amount and interest paid on a loan that is repaid over a tenure of the customer’s choosing.

Below are the factors that affect loan EMI amount:

  • Loan Amount
  • Interest Rate
  • Repayment Tenure

EMI Calculators help in choosing the right loan option. It gives you an understanding of how much your monthly instalment will be and how to plan your finances better.

An EMI calculator is a financial tool that helps you to calculate your EMI amount before applying for a loan. It can be used for multiple types of loans such as personal loans, home loans, etc.

You can calculate the EMI amount by following a few simple steps mentioned below:

  • Visit our official website or download the Fibe App
  • Go to the Personal Loan EMI Calculator
  • Adjust the loan amount, interest rate and tenure by moving the sliders
  • Once done, you will get the EMI amount displayed on the screen

The EMI calculator works on different factors like loan amount, tenure and interest rate. Once you provide the details, it instantly shows you the EMI amount which needs to be paid monthly toward your loan.

You can find out the your loan interest rate using the below formula:
Rate = Annual Rate of Int./12/100

To calculate the EMI amount, you need loan amount, interest rate and tenure. In this case, the principal amount is ₹5 lakh (P), interest rate is 2% (r) per month and 5 years (n) is the tenure.
You can use a personal loan EMI calculator to get the exact EMI amount in seconds or use below formula:

EMI = (P * r * (1 + r)^n) / ((1 + r)^n – 1)

The EMI amount will be ₹11,236/month in the above illustration.

If your EMI payment is missed, the lender can charge you late fees, your credit score can be negatively affected and there can be additional charges and increase in your monthly interest rate.

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