Personal Loan EMI Calculator

Get the EMI amount in seconds and plan your monthly instalments toward your loan with Fibe’s Personal Loan EMI Calculator online.

Personal Loan EMI Calculator

Personal Loan EMI Calculator

1,45,000
14
12
Your monthly instalment:
0
Total interest
0
Principal amount
1,45,000
Total amount
0

How to Calculate Your Personal Loan EMI?

Manually calculating your EMI can be tedious and time-consuming, so using an EMI calculator online is ideal. Our Personal Loan EMI Calculator enables you to get an estimate of your EMI without hassles. It helps you figure out your payouts beforehand and manage your loan repayment better.

Our easy-to-use Personal Loan EMI Calculator makes the process super simple and provides you with the projected EMI amount instantly. To find the estimated amount you need to pay using the personal loan interest calculator, follow this easy process:

1. Visit our official website or download the Fibe App and navigate to the ‘Personal Loan EMI Calculator’

2. Adjust the slider to choose the loan amount you wish to borrow

3. Then select the interest rate in % and the tenure in months

4. Your payable EMI amount will be displayed on the screen

This online tool is free to use as many times as you wish. You just need to move the sliders and adjust them to enter the exact inputs.

Fibe personal loan and instant cash loan app

Factors to Consider While Calculating the Personal Loan EMI

When estimating your loan outgo amount using the personal loan interest calculator, it is crucial to evaluate certain factors. The factors impacting the amount of EMI you need to pay include the following:
Loan Amount:

The principal amount is the money that you borrow from a lender. The EMI you pay depends on this amount. Simply put, the higher the loan amount, the higher the EMI.

Interest Rate:

This is the percentage at which the lenders charge you interest on the borrowed sum. Interest rates and the EMI also have a direct relationship as the EMI amount rises if the interest rate increases.

Fibe personal loan and instant cash loan app

Why Using a Personal Loan EMI Calculator is Beneficial?

There are several advantages of using an EMI calculator online to estimate the cost of personal loan outgo. Here are several reasons why you must use this online tool:
Better Financial Planning:

One of the most notable benefits of using a Personal Loan EMI Calculator is that it allows better financial planning. It gives you a clear understanding of how much EMI you will have to pay against your borrowing. You just need to decide on your loan amount and tenure and prepare your monthly budget accordingly.

Comparing Different Loan Options:

This online tool also lets you compare different lending options based on their total obligations. This helps you choose a cost-effective option.

Fibe personal loan and instant cash loan app

FAQs for Personal Loan EMI Calculator

You can use Fibe’s Personal Loan EMI Calculator to determine the monthly instalment amount. Just provide the loan amount, interest rate and repayment tenure to get the EMI amount in seconds.

EMI or Equated Monthly Instalment is the monthly payout a customer needs to make against the loan. It  is generally a sum of the principal amount and interest paid on a loan that is repaid over a tenure of the customer’s choosing.

Below are the factors that affect loan EMI amount:

  • Loan Amount
  • Interest Rate
  • Repayment Tenure

EMI Calculators help in choosing the right loan option. It gives you an understanding of how much your monthly instalment will be and how to plan your finances better.

An EMI calculator is a financial tool that helps you to calculate your EMI amount before applying for a loan. It can be used for multiple types of loans such as personal loans, home loans, etc.

You can calculate the EMI amount by following a few simple steps mentioned below:

  • Visit our official website or download the Fibe App
  • Go to the Personal Loan EMI Calculator
  • Adjust the loan amount, interest rate and tenure by moving the sliders
  • Once done, you will get the EMI amount displayed on the screen

The EMI calculator works on different factors like loan amount, tenure and interest rate. Once you provide the details, it instantly shows you the EMI amount which needs to be paid monthly toward your loan.

You can find out the your loan interest rate using the below formula:
Rate = Annual Rate of Int./12/100

To calculate the EMI amount, you need loan amount, interest rate and tenure. In this case, the principal amount is ₹5 lakh (P), interest rate is 2% (r) per month and 5 years (n) is the tenure.
You can use a personal loan EMI calculator to get the exact EMI amount in seconds or use below formula:

EMI = (P * r * (1 + r)^n) / ((1 + r)^n – 1)

The EMI amount will be ₹11,236/month in the above illustration.

If your EMI payment is missed, the lender can charge you late fees, your credit score can be negatively affected and there can be additional charges and increase in your monthly interest rate.

Personal Loan EMI Calculator Blogs

Do You Need to Buy Personal Loan Insurance? Find Out!
Personal Loan 14 Mar 2024
Do You Need to Buy Personal Loan Insurance? Find Out!

While financial planning and discipline can help you stay on track to repay your debt, unwarranted expenses can derail any plan. Here, personal loan insurance serves as a safeguard from the risks arising due to such circumstances.   A loan insurance policy covers the monthly repayment and protects you from default. You can make the right […]

Read More 3 mins read
Know How to Get Personal Loan and Home Loan Simultaneously
Personal Loan 14 Mar 2024
Know How to Get Personal Loan and Home Loan Simultaneously

Getting a personal loan and a home loan at the same time is possible to manage your requirements. Whether you want to purchase your dream home or renovate your existing one, you can do it easily. All you have to do is get a personal loan after a home loan to extend your budget.  Now […]

Read More 3 mins read
8 Reasons Why a Personal Loan is Better Than Taking a Loan From Friend or Family
Personal Loan 14 Mar 2024
8 Reasons Why a Personal Loan is Better Than Taking a Loan From Friend or Family

Asking for a loan from a friend or family may seem like a quick and easy option to get funds. However, involving your family or friends in your financial situation may cause awkwardness or strain your relationships. So, it is best to keep relationships and monetary affairs separate. Instead, you can opt for one of […]

Read More 3 mins read
Explore all blogs
Fibe personal loan and instant cash loan app

The cool new vibe to finance

Download he Fibe App the cool new vibe to finance to avail of the loan in just a few clicks from anywhere

Here's what our customers think of us!

Fibe personal loan and instant cash loan app
Fibe starsFibe starsFibe starsFibe starsFibe stars
Instant loan in minutes
I would like to thank Fibe (EarlySalary), few days back I met with an accident and I didn’t have much money to pay in one go. So, I took an instant cash advance from Fibe (EarlySalary). They helped me to clear all the medical bills in just 10 mins!
Shubham Pawan Profile

Subham Pawar

Fibe personal loan and instant cash loan app
Fibe starsFibe starsFibe starsFibe starsFibe stars
Quick and easy
The overall experience with Fibe was really good. I applied for an online personal loan and the service was very quick. The entire process was fast and smooth, and the loan was sanctioned without any hassles.
Shilpi Mukherjee Profile

Shilpi Mukherjee