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Personal loan EMI calculators help you get the EMI amount instantly by entering the required fields. You can perform the calculations for different amounts and interest rates.

The mathematical formula for calculating EMI is EMI = [P x R x (1+R)^N]/[(1+R)^N-1].

P = Principal amount

R = Rate of Interest per month

N= Number of Monthly Installments

Every bank provides an EMI calculator on their website using which you can calculate your monthly EMI. This however excludes processing fees and GST.

After entering the loan amount, interest rate and tenure, you just click on the Calculate or Submit button to get the results. It’s so simple and easy to use. You can also use the excel sheet to perform the calculations manually.

If you are looking for a personal loan, you can check your eligibility at CreditMantri.

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