Personal Loan EMI Calculator- Online Monthly EMI Calculation | AU Small Finance Bank

# Personal Loan EMI Calculator

My loan requirement is INR
25K

7.5 lakhs

I’m looking for an interest rate of %
11%

30%

I can repay the loan in months (7.5 years)
12 months

60 months

Principal Amount: 5,00,000
Total Interest: 43,000
Total Amount Payable: 9,43,000

At a rate of: 18% pa
For a duration of: 1 years
Your Monthly EMI will be: 7,80,000

## Introduction of the Personal Loan EMI Calculator

In case one is to take a personal loan, then it is very important to understand how much you are supposed to pay every month. Knowing precisely how much you are going to pay every month helps manage your money better, with no surprises. Our Personal Loan EMI Calculator provides an exact and clear estimate on your monthly repayments. You can get your EMI by simply entering the loan amount, interest rate, and loan tenure. This tool not only helps in better financial planning but also aids in making informed decisions about your loan options.

## How to Use AU Small Finance Bank's Personal Loan EMI Calculator

1. Enter the required loan amount in the Personal Loan calculator

2. Enter The interest rate

3. Enter loan tenure in months

The slider bar can assist in changing the loan details rather than typing them directly to see the resultant EMI change in real-time. The EMI for a Personal Loan online calculator will produce the EMI details based on the input provided by the customer.

## Formula to Calculate Personal Loan EMI

E = P x R x (1+r)^n/((1+r)^N – 1, wherein

• E = Equated Monthly Instalment
• P stands for principal amount
• R denotes applicable rate of interest
• N is the loan term or tenure

Using this formula will help you calculate your monthly EMI with complete accuracy. This would aid you in planning your finance properly and making some informed decisions to avail a personal loan.

## Advantages of Using a Personal Loan Calculator

• Accurate Planning: The Personal Loan EMI calculator provides you with the accurate estimate of what your monthly EMI is going to look like. This thus helps in effective budget planning so that one is well-prepared for the financial commitment on a monthly basis.
• Time Saving: The calculator instantly calculates your EMI; this relieves an individual from doing it manually. This saves a lot of time and much effort needed toward other priorities in your financial planning.
• Compare Options: The calculator is designed to allow easy comparison between different loan scenarios. You can tinker with the loan amount, interest rate, and tenure to see how these changes impact your EMI, thereby allowing you to find a loan option that works out best for your financial needs.
• Make Informed Decisions: Knowing your repayment schedule is important in making informed decisions that are good for your financial life. Using the EMI calculator will present you with a clear view of what your repayment looks like, enabling you to make better decisions on loan options. This will ensure that you select loans that are in line with your financial goals and capacity.
• Better financial management: The calculator assists in the efficient management of finances since it gives clear details of loan repayment. With a clearer view of the monthly financial obligations, one can plan other expenses and investments.
• Ease of Use: The calculator is user-friendly and requires only basic information such as the amount of loan, rate of interest, and tenure. This makes it usable for all, irrespective of financial acumen.
• Cost-Effective: It costs nothing to use a calculator, and as many times as one wants to use it for evaluating the various loan options, it is a cost-effective tool for anyone looking to avail a personal loan.
• Financial Awareness: The calculator helps the borrower become more conscious of the money to be paid. This awareness could dissuade one from over-committing oneself with loans, for which he could build a system of repayment within his budget.

## FAQs

### Q1. What Is a Personal Loan EMI?

EMI, or Equated Monthly Instalment, is the amount a borrower must pay every month until the completion of the loan tenure.

So, if the bank sanctions a Personal Loan for 60 months, you have to pay back the loan with interest in the form of a fixed Personal Loan EMI amount every month for the next 60 months.

### Q2. What Is the Personal Loan EMI Formula?

Following is the Personal Loan EMI calculator formula used in a manual or an online calculator of EMI for a Personal Loan.

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

Where,

• P is the principal amount
• N stands for the number of months
• R is the rate of interest on a Personal Loan

### Q3. What Is Personal Loan Amortization Schedule?

• A Personal Loan amortization schedule is a table that shows the EMI chart for Personal Loan repayment against a sanctioned loan amount
• The schedule provides a summary of EMIs payable during the entire loan tenure
• It also provides a breakup of the principal and interest components of each EMI
• Lastly, it shows you the closing balance of your loan every month provided you pay the EMIs on time

Along with the EMI calculator online for a Personal Loan, the loan amortization schedule can help you understand the breakup of your EMI that you pay every month to help you plan your repayment better.

### Q4. How to Pay the Personal Loan EMI Amount?

• Your Personal Loan account will be linked to your account at the time of loan disbursement
• Next, you'll be notified of the monthly loan repayment date
• The Personal Loan EMI payment is typically automatically debited from your bank account on the pre-defined date each month
• However, you need to ensure that adequate funds are available in your bank account on the EMI payment date
• The EMI payment of a month will be skipped if your bank account doesn't have adequate funds, and the EMI tenure will be increased. However, it is not advised to skip your EMIs as it would adversely affect your credit score

### Q5. Why Choose AU Small Finance Bank Personal Loan?

• AU Small Finance Bank Personal Loan is an all-purpose loan that can be availed without requiring a guarantor or collateral. Here's why you should select AU Small Finance Bank for your loan requirements.
• Most competitive Personal Loan interest rates in India
• Flexible tenure options ranging between 12 to 60 months
• Choose a loan amount ranging between INR 25,000 to INR 7,50,000
• Minimal documentation and fast approval process
• Effortlessly manage your Personal Loan through the AU 0101 App/NetBanking
• Existing customers can get Pre-Approved Personal Loan offers and preferential interest rates

Use this Personal Loan EMI Calculator online by AU Small Finance Bank and make loan repayments without any financial stress.

Know more about other EMI Calculators

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