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Personal Loan EMI Calculator

Updated on June 11, 2024 , 39091 views

Personal Loan, also known as consumer loan, is a type of loan which is normally unsecured in nature, and is taken by an individual for a short period of time. It is basically taken to meet any financial need like family expenditure, home revamp, holiday or maybe for the procurement of any amenities either for personal or for commercial use and others. A personal loan is preferred to other loans as it requires minor documents, provides flexibility of usage and takes comparatively less processing time. Unlike other loans, it usually has a shorter repayment tenure ranging from 1-5 years.

Personal Loan EMI Calculator

An emi calculator is a quick and simple solution to pre-plan and balance your inflow and outflow of money so that you don’t run short of money at any point in time. An EMI calculator is a formula box with 3 inputs, namely - loan amount, loan tenure, and interest rate. Once you fill in the details, the calculator will tell you the EMI (Equal Monthly Installment) amount that you will need to give to the Bank every month, to repay your debts.

Calculate Payable Interest & EMI Online

Personal Loan EMI Calculator

Personal Loan Amount:
Interest per annum:
%
Loan Period in Months:
Months

Personal Loan Interest:₹311,670.87

Interest per annum:14%

Total Personal Payment: ₹1,311,670.87

Personal Loan Amortization Schedule (Monthly)

Month No.EMIPrincipalInterestCumulative InterestPending Amount
1₹27,326.48₹15,659.811,400%₹11,666.67₹984,340.19
2₹27,326.48₹15,842.511,400%₹23,150.64₹968,497.68
3₹27,326.48₹16,027.341,400%₹34,449.78₹952,470.35
4₹27,326.48₹16,214.321,400%₹45,561.93₹936,256.02
5₹27,326.48₹16,403.491,400%₹56,484.92₹919,852.53
6₹27,326.48₹16,594.861,400%₹67,216.53₹903,257.67
7₹27,326.48₹16,788.471,400%₹77,754.54₹886,469.2
8₹27,326.48₹16,984.341,400%₹88,096.68₹869,484.86
9₹27,326.48₹17,182.491,400%₹98,240.67₹852,302.38
10₹27,326.48₹17,382.951,400%₹108,184.19₹834,919.43
11₹27,326.48₹17,585.751,400%₹117,924.92₹817,333.68
12₹27,326.48₹17,790.921,400%₹127,460.48₹799,542.76
13₹27,326.48₹17,998.481,400%₹136,788.48₹781,544.28
14₹27,326.48₹18,208.461,400%₹145,906.5₹763,335.82
15₹27,326.48₹18,420.891,400%₹154,812.08₹744,914.93
16₹27,326.48₹18,635.81,400%₹163,502.75₹726,279.13
17₹27,326.48₹18,853.221,400%₹171,976.01₹707,425.91
18₹27,326.48₹19,073.171,400%₹180,229.31₹688,352.74
19₹27,326.48₹19,295.691,400%₹188,260.1₹669,057.04
20₹27,326.48₹19,520.811,400%₹196,065.76₹649,536.23
21₹27,326.48₹19,748.551,400%₹203,643.68₹629,787.68
22₹27,326.48₹19,978.951,400%₹210,991.21₹609,808.72
23₹27,326.48₹20,212.041,400%₹218,105.64₹589,596.68
24₹27,326.48₹20,447.851,400%₹224,984.27₹569,148.83
25₹27,326.48₹20,686.411,400%₹231,624.34₹548,462.43
26₹27,326.48₹20,927.751,400%₹238,023.07₹527,534.68
27₹27,326.48₹21,171.911,400%₹244,177.64₹506,362.77
28₹27,326.48₹21,418.911,400%₹250,085.2₹484,943.86
29₹27,326.48₹21,668.81,400%₹255,742.88₹463,275.06
30₹27,326.48₹21,921.61,400%₹261,147.76₹441,353.46
31₹27,326.48₹22,177.351,400%₹266,296.88₹419,176.11
32₹27,326.48₹22,436.091,400%₹271,187.27₹396,740.02
33₹27,326.48₹22,697.841,400%₹275,815.9₹374,042.18
34₹27,326.48₹22,962.651,400%₹280,179.73₹351,079.53
35₹27,326.48₹23,230.551,400%₹284,275.66₹327,848.98
36₹27,326.48₹23,501.571,400%₹288,100.56₹304,347.41
37₹27,326.48₹23,775.761,400%₹291,651.28₹280,571.65
38₹27,326.48₹24,053.141,400%₹294,924.62₹256,518.51
39₹27,326.48₹24,333.761,400%₹297,917.33₹232,184.75
40₹27,326.48₹24,617.651,400%₹300,626.16₹207,567.1
41₹27,326.48₹24,904.861,400%₹303,047.77₹182,662.24
42₹27,326.48₹25,195.421,400%₹305,178.83₹157,466.82
43₹27,326.48₹25,489.361,400%₹307,015.94₹131,977.45
44₹27,326.48₹25,786.741,400%₹308,555.68₹106,190.71
45₹27,326.48₹26,087.581,400%₹309,794.57₹80,103.13
46₹27,326.48₹26,391.941,400%₹310,729.11₹53,711.19
47₹27,326.48₹26,699.851,400%₹311,355.74₹27,011.34
48₹27,326.48₹27,011.341,400%₹311,670.87₹0

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Formula for Calculating EMI

You can calculate your EMI Amount with the help of the mathematical formula given below: EMI Amount = [P x R x (1+R)^N]/[(1+R)^N-1] where P, R, and N are the variables. This also means that the EMI value will change every time you change any of the 3 variables. Let’s discuss these 3 variables in detail. ‘P’ stands for the ‘Principal Amount’. The principal amount is the original loan amount given to you by the bank on which the interest will be calculated. ‘R’ stands for the rate of interest set by the bank. ‘N’ determines the number of years given for the repayment of the loan.

How does an EMI Calculator work?

An EMI Calculator is a handy tool that calculates the monthly amount payable to the lender (Bank). To calculate the EMI applicable on your loan amount, you need to use the sliders above and adjust the values for principal Amount (P), Time duration (N), and Rate of interest (R). Follow these steps to calculate your EMI Amount:

  • Enter your loan amount
  • Enter loan tenure
  • Add interest rate

EMI will be calculated instantaneously when you provide all required inputs.

Principal Loan Amount

This is the original amount lent to you by the bank/lender. The loan amount will depend on your need and the purpose of the loan. Higher the loan amount, higher will be the EMI.

Tenure

The tenure of a loan refers to the total time given for the repayment of the loan. Since the repayment is done every month, the tenure is calculated in months and not in years. So, a tenure of 2 years is equal to 24 months. The

Rate of Interest

This is the rate at which the interest is charged on the principal loan amount. The interest rate varies depending on the type of loan taken and the lender (bank) from which the loan has been taken. The rate of interest has a direct bearing on your EMI amount; hence, it is important to compare interest rates across banks before opting for a loan.

Factors Affecting Personal Loan EMI

There are several factors which affect the EMI calculation. Since the EMI broadly depends upon the principal amount, tenure, and the rate of interest. Any change in these variables can cause a change in the EMI amount. Prior to this, one should know that there are many other factors upon which the Personal loan (amount) granted may vary. For instance, your Credit Score. The more the credit score the better chances of getting the Personal loan (amount). Hence, you can manage your credit score by paying your credit card bills on time and keeping the credit card balance low. Besides, there are other criteria upon which the loan amount granted may differ from bank to bank, like

  • Income Proof
  • Investment statements
  • Stable Employment history
  • Housing history
  • Debt-to-income ratio
  • Social media

Top Funds for 2024

*Best funds based on 3 year performance.

1. Invesco India PSU Equity Fund

To generate capital appreciation by investing in Equity and Equity Related Instruments of companies where the Central / State Government(s) has majority shareholding or management control or has powers to appoint majority of directors. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. The Scheme does not assure or guarantee any returns.

Invesco India PSU Equity Fund is a Equity - Sectoral fund was launched on 18 Nov 09. It is a fund with High risk and has given a CAGR/Annualized return of 13.8% since its launch.  Ranked 33 in Sectoral category.  Return for 2023 was 54.5% , 2022 was 20.5% and 2021 was 31.1% .

Below is the key information for Invesco India PSU Equity Fund

Invesco India PSU Equity Fund
Growth
Launch Date 18 Nov 09
NAV (13 Jun 24) ₹66.12 ↑ 0.79   (1.21 %)
Net Assets (Cr) ₹957 on 30 Apr 24
Category Equity - Sectoral
AMC Invesco Asset Management (India) Private Ltd
Rating
Risk High
Expense Ratio 2.46
Sharpe Ratio 3.14
Information Ratio -1.52
Alpha Ratio -0.54
Min Investment 5,000
Min SIP Investment 500
Exit Load 0-1 Years (1%),1 Years and above(NIL)

Growth of 10,000 investment over the years.

DateValue
31 May 19₹10,000
31 May 20₹8,952
31 May 21₹13,139
31 May 22₹14,105
31 May 23₹17,799
31 May 24₹35,873

Invesco India PSU Equity Fund SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual Returns:
%
Total investment amount is ₹300,000
expected amount after 5 Years is ₹627,226.
Net Profit of ₹327,226
Invest Now

Returns for Invesco India PSU Equity Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 13 Jun 24

DurationReturns
1 Month 12.4%
3 Month 17.1%
6 Month 45.3%
1 Year 93.7%
3 Year 38.1%
5 Year 29.5%
10 Year
15 Year
Since launch 13.8%
Historical performance (Yearly) on absolute basis
YearReturns
2023 54.5%
2022 20.5%
2021 31.1%
2020 6.1%
2019 10.1%
2018 -16.9%
2017 24.3%
2016 17.9%
2015 2.5%
2014 54.5%
Fund Manager information for Invesco India PSU Equity Fund
NameSinceTenure
Dhimant Kothari19 May 203.95 Yr.

Data below for Invesco India PSU Equity Fund as on 30 Apr 24

Equity Sector Allocation
SectorValue
Industrials31.72%
Utility24.87%
Financial Services23.89%
Energy16.05%
Asset Allocation
Asset ClassValue
Cash3.47%
Equity96.53%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Bharat Electronics Ltd (Industrials)
Equity, Since 31 Mar 17 | BEL
9%₹89 Cr3,801,222
Hindustan Aeronautics Ltd Ordinary Shares (Industrials)
Equity, Since 31 May 22 | HAL
9%₹87 Cr221,859
State Bank of India (Financial Services)
Equity, Since 28 Feb 21 | SBIN
9%₹82 Cr990,944
NTPC Ltd (Utilities)
Equity, Since 31 May 19 | 532555
9%₹82 Cr2,254,157
Coal India Ltd (Energy)
Equity, Since 31 Aug 23 | COALINDIA
8%₹73 Cr1,612,886
Power Grid Corp Of India Ltd (Utilities)
Equity, Since 28 Feb 22 | 532898
7%₹68 Cr2,261,566
NHPC Ltd (Utilities)
Equity, Since 31 Oct 22 | NHPC
5%₹44 Cr4,587,137
↓ -848,481
Bharat Petroleum Corp Ltd (Energy)
Equity, Since 30 Sep 18 | 500547
4%₹43 Cr699,865
Bank of Baroda (Financial Services)
Equity, Since 30 Jun 21 | 532134
4%₹40 Cr1,431,527
Container Corporation of India Ltd (Industrials)
Equity, Since 31 Mar 17 | CONCOR
4%₹40 Cr386,333

2. SBI PSU Fund

The objective of the scheme would be to provide investors with opportunities for long-term growth in capital along with the liquidity of an open-ended scheme through an active management of investments in a diversified basket of equity stocks of domestic Public Sector Undertakings and in debt and money market instruments issued by PSUs AND others.

SBI PSU Fund is a Equity - Sectoral fund was launched on 7 Jul 10. It is a fund with High risk and has given a CAGR/Annualized return of 8.9% since its launch.  Ranked 31 in Sectoral category.  Return for 2023 was 54% , 2022 was 29% and 2021 was 32.4% .

Below is the key information for SBI PSU Fund

SBI PSU Fund
Growth
Launch Date 7 Jul 10
NAV (13 Jun 24) ₹32.7374 ↑ 0.24   (0.74 %)
Net Assets (Cr) ₹2,352 on 30 Apr 24
Category Equity - Sectoral
AMC SBI Funds Management Private Limited
Rating
Risk High
Expense Ratio 2.52
Sharpe Ratio 2.76
Information Ratio -1.18
Alpha Ratio -7.86
Min Investment 5,000
Min SIP Investment 500
Exit Load 0-1 Years (1%),1 Years and above(NIL)

Growth of 10,000 investment over the years.

DateValue
31 May 19₹10,000
31 May 20₹7,204
31 May 21₹11,163
31 May 22₹12,151
31 May 23₹14,791
31 May 24₹30,038

SBI PSU Fund SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual Returns:
%
Total investment amount is ₹300,000
expected amount after 5 Years is ₹570,326.
Net Profit of ₹270,326
Invest Now

Returns for SBI PSU Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 13 Jun 24

DurationReturns
1 Month 8.5%
3 Month 22.6%
6 Month 41.9%
1 Year 99.7%
3 Year 37.5%
5 Year 25.4%
10 Year
15 Year
Since launch 8.9%
Historical performance (Yearly) on absolute basis
YearReturns
2023 54%
2022 29%
2021 32.4%
2020 -10%
2019 6%
2018 -23.8%
2017 21.9%
2016 16.2%
2015 -11.1%
2014 41.5%
Fund Manager information for SBI PSU Fund
NameSinceTenure
Richard D'souza1 Aug 149.76 Yr.

Data below for SBI PSU Fund as on 30 Apr 24

Equity Sector Allocation
SectorValue
Financial Services32.57%
Utility17.37%
Basic Materials15.77%
Energy12.81%
Industrials12.1%
Asset Allocation
Asset ClassValue
Cash9.39%
Equity90.61%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
State Bank of India (Financial Services)
Equity, Since 31 Jul 10 | SBIN
10%₹229 Cr2,777,500
Power Grid Corp Of India Ltd (Utilities)
Equity, Since 31 Jul 10 | 532898
8%₹178 Cr5,885,554
NTPC Ltd (Utilities)
Equity, Since 31 Jul 10 | 532555
7%₹158 Cr4,343,244
Hindustan Copper Ltd (Basic Materials)
Equity, Since 30 Apr 21 | HINDCOPPER
5%₹119 Cr3,093,315
Steel Authority Of India Ltd (Basic Materials)
Equity, Since 29 Feb 24 | SAIL
5%₹107 Cr6,500,000
↑ 3,000,000
Oil & Natural Gas Corp Ltd (Energy)
Equity, Since 31 May 20 | 500312
4%₹98 Cr3,455,000
Housing & Urban Development Corp Ltd (Financial Services)
Equity, Since 30 Nov 22 | 540530
4%₹98 Cr4,350,000
National Aluminium Co Ltd (Basic Materials)
Equity, Since 31 Jul 23 | 532234
4%₹93 Cr5,000,000
↑ 1,000,000
Bharat Heavy Electricals Ltd (Industrials)
Equity, Since 31 Jul 23 | 500103
4%₹85 Cr3,000,000
Life Insurance Corporation of India (Financial Services)
Equity, Since 29 Feb 24 | 543526
4%₹83 Cr850,000
↑ 400,000

Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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