A personal loan is an unsecured loan provided by banks or financial institutions to meet your personal financial needs. EMI stands for Equated Monthly Installment, which is a fixed monthly payment that covers both the principal and the interest until the loan is fully repaid.
The standard formula to calculate EMI is:
EMI = [P * r * (1 + r)^n] / [(1 + r)^n - 1]
Where:
P = Loan Amount
r = Monthly Interest Rate (annual rate/12/100)
n = Loan Tenure in months
Get funds disbursed quickly, often within 24-48 hours, for urgent needs.
Personal loans are unsecured, meaning you don't need to pledge any assets as security.
Choose a loan tenure that suits your financial situation, making repayments manageable.
Consolidate multiple debts into a single personal loan for easier management and potentially lower interest.
Loan Amount: ₹ 1,00,000
Interest Rate: 9% per annum
Tenure: 5 years
Monthly EMI: ₹ 2,075.84 (Fixed for 5 years)
Year | Month | EMI (₹) | Principal (₹) | Interest (₹) | Balance (₹) |
---|---|---|---|---|---|
1 | 1 | 2,075.84 | 1,325.84 | 750.00 | 98,674.16 |
2 | 2,075.84 | 1,335.78 | 740.06 | 97,338.38 | |
3 | 2,075.84 | 1,345.83 | 730.01 | 95,992.55 | |
4 | 2,075.84 | 1,355.97 | 719.87 | 94,636.58 | |
5 | 2,075.84 | 1,366.22 | 709.62 | 93,270.36 | |
6 | 2,075.84 | 1,376.57 | 699.27 | 91,893.79 | |
7 | 2,075.84 | 1,387.02 | 688.82 | 90,506.77 | |
8 | 2,075.84 | 1,397.57 | 678.27 | 89,109.20 | |
9 | 2,075.84 | 1,408.23 | 667.61 | 87,700.97 | |
10 | 2,075.84 | 1,418.99 | 656.85 | 86,281.98 | |
11 | 2,075.84 | 1,429.86 | 645.98 | 84,852.12 | |
12 | 2,075.84 | 1,440.84 | 635.00 | 83,411.28 | |
2 | 13 | 2,075.84 | 1,451.92 | 623.92 | 81,959.36 |
14 | 2,075.84 | 1,463.11 | 612.73 | 80,496.25 | |
15 | 2,075.84 | 1,474.41 | 601.43 | 79,021.84 | |
16 | 2,075.84 | 1,485.82 | 590.02 | 77,536.02 | |
17 | 2,075.84 | 1,497.34 | 578.50 | 76,038.68 | |
18 | 2,075.84 | 1,508.97 | 566.87 | 74,529.71 | |
19 | 2,075.84 | 1,520.71 | 555.13 | 73,008.99 | |
20 | 2,075.84 | 1,532.57 | 543.27 | 71,476.42 | |
21 | 2,075.84 | 1,544.53 | 531.31 | 69,931.89 | |
22 | 2,075.84 | 1,556.61 | 519.23 | 68,375.28 | |
23 | 2,075.84 | 1,568.81 | 507.03 | 66,806.47 | |
24 | 2,075.84 | 1,581.12 | 494.72 | 65,225.35 | |
... Loan continues for 3 more years (Years 3-5) ... | |||||
Loan fully repaid after 5 Years (60 Months) | ₹ 0.00 (Approx.) |