Personal Loan
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Online EMI calculator for personal loan

With a Personal Loan EMI Calculator, you can easily calculate your EMI online and plan your loan effectively.

Use the Bajaj Finserv online personal loan calculator below by entering the amount you need to borrow, the interest rate and the tenor. Instantly calculate your EMI and even the breakdown of your instalments.

Loan EMI


Loan Amount
Interest Rate

Total Interest Payable

Rs. 10,15,990

Total Payment (Principle + Interest)

Rs. 50,51,552


Total Interest


Principle Amount

EMI Repayment Schedule

  • Year
  • Principal
  • Interest
  • Total Payment
  • Balance
  • Loan Paid to Date

How to calculate personal loan EMI?

It is a good idea to calculate your EMI before applying for a personal loan. While you can do so manually, using a loan calculator can help you determine a more accurate value. You can select the loan amount, tenor and interest rate to get the exact payable EMI amount with an interactive chart.

How to reduce your personal loan EMI?

Your EMI may affect your monthly expenses. Some simple steps that can help you reduce the loan EMI and manage outlays efficiently are:

  • Opt for a longer repayment tenor – It will help you spread the loan cost over a longer duration and help you pay in small instalments.
  • Negotiate with the loan provider for a lower rate of interest
  • Maintain a high CIBIL score to enjoy lower interest rates and reduced EMIs
  • Shop around for the best deals as per your needs and repaying capacity

What are the factors that affect personal loan EMIs?

The following factors affect personal loan EMIs -

  • Loan Amount – Monthly instalments payable are directly proportional to the loan amount. The higher the loan amount, the higher will be your EMIs.
  • Applicable Rate of Interest – The interest rate is the percentage lenders charge interest on the loan amount. A higher interest rate increases the EMIs and vice versa.
  • Tenor – It is the repayment period for a loan and is inversely related to EMIs. A longer tenor reduces monthly instalments while a shorter tenor increases them.

Check out the EMIs on a personal loan of Rs.1 lakh for varying tenors with 13% interest rate at Bajaj Finserv.

2 Years 3 Years 4 Years 5 Years
EMIs Rs.4,754 Rs.3,369 Rs.2,683 Rs.2,275
Total Amount Payable Rs.1,14,101 Rs.1,21,303 Rs.1,28,769 Rs.1,36,528
Total Interest Payable Rs.14,101 Rs.21,303 Rs.28,769 Rs.36,528

How is the personal loan interest rate calculated?

You can calculate the personal loan interest rate you need to bear and the EMI online by using the personal loan interest calculator.

Once you select the desired loan amount and the repayment tenor and the applicable interest rate, the tool will suggest the exact amount payable. It will be the total interest rate amount payable on the required loan amount over a tenor.

You can also use the Bajaj Finserv Personal Loan EMI calculator to know the EMI payable before applying for a loan in India. It will help you make prior arrangements for ensuring timely repayments.

What is a personal loan amortisation schedule?

A personal loan amortisation schedule is a detailed table of periodic payments to be made during the loan tenor. Lenders use an amortisation calculator to create this schedule. Amortisation is a calculation process that specifies loan repayment via EMIs over the tenor chosen.

It carries a detailed breakdown of the principal and interest amount included in every EMI payable through a tenor until the complete repayment of the loan. The schedule gives accurate insights to a borrower on the principal and interest component included in each EMI.

What is an EMI?

EMI, or Equated Monthly Instalment, is the fixed amount a borrower pays every month to clear off the loan taken from a lender. It is scheduled at a specific date of every calendar month and includes both principal and interest components. The EMI of your personal loan depends on the loan principal, the rate of interest and the loan tenor.

How does a personal loan EMI calculator work?

An EMI calculator uses a simple mathematical formula to calculate your EMI. The formula used is:
E = P*r*(1+r)^n/((1+r)^n-1) where

  • E is EMI
  • P is the principal loan amount,
  • r is the rate of interest calculated every month, and
  • n is the tenor/duration in months

What are the benefits of a Bajaj Finserv Personal Loan EMI Calculator?

Bajaj Finserv’s online personal loan EMI calculator offers the following advantages:

  • It enables quick EMI calculation
  • It minimises the chances of error
  • It helps in evaluating a suitable repayment schedule via EMI calculation
  • It helps choose a suitable amount that is repayable over time without affecting a borrower’s financial health

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