Personal Loan EMI Calculator

Interest Rate


Loan Amount



1 Yrs


Total Interest

Total Amount


Personal loan EMI Calculation Formula

The formula used by the personal loan EMI calculator is:

EMI = [P x (R/100) x {1+(R/100)}^N]/[{1+(R/100)}^(N-1)]


EMI = equated monthly installments

P = loan principal i.e. amount borrowed

R = loan interest rate (monthly basis) = annual interest rate/12

N = Loan tenure in months

The above formula works for calculating all types of loan EMI, not just personal loan EMI. With the availability of online EMI calculator, it is no longer necessary to perform this tedious calculation by hand as the result can be obtained instantly by providing the required data.

It is common knowledge that EMI payable varies based on the loan amount, interest rate and tenure of a loan. The following table illustrates the difference in EMI payments for various loan amounts over different loan tenure:

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