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What is Loan Amortization?

Amortization is the concept of dividing your loan amount into tiny bits and paying each one individually on a monthly basis. As most people in an emergency may require a huge sum of money, in a personal loan amortization, they are able to fulfill that pot by repaying a small amount every month.

Personal Loan Amortization

In the case of personal loan amortization, you will be granted to pay your personal loan’s interest and principal in different amounts each month which together constitute your EMI. Please note that your final EMI will also include other components such as insurance and service charges, which will not be covered by this calculator.

Here is a tool from SMFG India Credit to help you understand and visualize what a personal loan amortization could look like.

12 Months60 Months

Your Calculated EMI*


Personal Loan Amortization Schedule

MonthOpening Principal OutstandingInterest paidPrincipal repaidResulting Principal Outstanding

Disclaimer: Please note that these values are indicative. Final EMI amount, interest rate, loan amount, and other charges will depend on a number of factors including your eligibility and SMFG India Credit’s policy at the time of loan application. Please note that the above calculator’s results, are by no means a substitute for professional advice/credit sanction. T&Cs apply.

How to use a Personal Loan Amortization Calculator?

To get an idea on the kind of EMI commitments you will be liable for every month, follow the simple steps below to find your EMI plan:

  1. Choose the loan amount you are seeking. With SMFG India Credit, you can apply for a loan for up to 25 lakhs.
  2. Next, select the repayment period which can be up to 5 years or 60 months.
  3. Finally, select the interest rate you wish to visualize.

Benefits of using a Personal Loan Amortization Calculator

The benefits of personal loan amortization calculator are:

  1. It's intuitive, smart, and most importantly free to use. It can be used as many times as you require. And being online, it can be accessed from any device, from anywhere in the world as long as you have access to a working internet connection.
  2. Manual calculations leave room for human error. But with the use of technology, this tool allows you to eliminate that error and generates an error-free experience no matter how many times you use it.
  3. It’s realistic. This tool allows you to have an accurate understanding of what an EMI looks like realistically.
  4. Helps you plan your monthly budget well in advance.


Simply put, the personal loan eligibility calculator tool is an intuitive, smart and a free of charge tool offered by SMFG India Credit that helps you understand better how your EMIs would like in the future. It helps you through one of the most important stages of the loan application process which involves planning your future financial liabilities.

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