What Is a Personal Loan EMI Calculator?

Yes, it displays the total repayment and interest component.

The Personal Loan Calculator has been designed in such a way that it can be used by anyone. You do not need to know the complex formulae to calculate your monthly payments. Just enter three key inputs – loan amount, term and interest – and the calculator will automatically do the calculations for you. To increase or decrease any of the variables, just use the sliders. Increasing the interest rate or loan amount will increase your EMI while increasing the tenure will reduce the EMI. Adjust the variables according to your requirements.

To reduce your Personal Loan monthly instalments, consider refinancing at a lower interest rate, extending the loan tenure, making additional principal payments, or consolidating debts. Improving your credit score can help secure better terms and lower your monthly instalments.

You can use the calculator to calculate the EMI on a Personal Loan from any bank or financial institution. It is free to use, and you have no obligation to take a Personal Loan from HDFC Bank.

EMI is calculated using the formula: P x R x (1+R)^N] / [(1+R)^N-1]

P= Principal or your loan amount

R= Rate of interest

N= Tenure (loan term in a number of years)

Your EMI includes two main components – principal and interest. In the early part of your tenure, the interest amount is higher, and that becomes progressively lower. Towards the end of the tenure, the principal amount forms a large proportion of the EMI.

A Personal Loan EMI Calculator estimates monthly EMIs, total repayment amount, and interest based on the loan amount, tenure, and rate.

Loan amount, interest rate, and tenure are required.

To qualify for ₹10 lakh Personal Loan, you must be between 21 and 60 years old, with a minimum earning of ₹25,000.

Yes, you can adjust values to compare scenarios.

No, but it helps you understand repayment obligations in advance.

The EMI amount of a Personal Loan is affected by the loan amount, interest rate, tenure, and credit score. Additionally, changes in loan terms or prepayments can also impact the EMI amount.

Personal Loan interest payable is usually calculated using simple or compound interest methods based on the principal amount, interest rate, and loan tenure. It can be applied monthly or annually.

EMI stands for Equated Monthly Instalments. It is the amount you must pay every month till the end of your loan tenure.

Pocket-friendly EMIs (starting at just ₹2149 per lac) * (T&C)

-Attractive interest rates

-Flexible loan tenures

-Maximum loan amount (Personal Loan Eligibility in 1 minute)

-Disbursal in 10 seconds**

*EMI amount is calculated for a ₹1 lakh loan for a period of 5 years

**For select HDFC Bank customers. Terms and conditions apply