Fullerton India Credit Co. Ltd. is Now SMFG India Credit Co. Ltd.

Calculate Personal Loan EMI Online

While taking an instant personal loan online, you should review your current financial commitments and income to arrive at a suitable loan amount and affordable EMIs. Our personal loan EMI calculator cracks your Equated Monthly Instalments (EMIs) in seconds to assist you in planning your finances better.

The personal loan EMI is calculated based on the loan amount, repayment tenure, and interest rate. While the loan amount and tenure depend on your financial needs and repayment capabilities, the personal loan interest rate is set on the basis of your eligibility. SMFG India Credit’s personal loan EMI calculator makes your loan planning easier.

12 Months60 Months

Your Calculated EMI*

Created with Highcharts 8.2.2Principal Amt : 84%
Principal Amount
Total Interest Payable
Total Amount Payable

Personal Loan EMI Repayment Schedule

MonthOpening Principal OutstandingInterest paidPrincipal repaidResulting Principal Outstanding
Load more

Disclaimer The above calculator with graph & below table provide an approximate calculation of the EMI ( Equ... Read More

*Terms and conditions apply

How to use Personal Loan EMI Calculator?

Our online personal loan EMI calculator comes with three tabs to arrive at your Equated Monthly Instalment or EMI in an instant. Follow these simple steps below to find yours:

  • Choose the loan amount you are seeking. You can select an amount up to `25 lakhs.
  • Next, select the tenure. For a personal loan, you can choose a repayment tenure of up to 5 years or 60 months.
  • Finally, set the ‘Rate of Interest’

Here's an example to show you how the personal loan EMI calculator works. If you are looking for a loan of `1,00,000 for a repayment tenure of 3 years at an interest rate of 12 per cent per annum, complete the following actions on the calculator:

  • Move the 'Loan Amount' slider to `1,00,000
  • Next, select ‘3’ years as ‘Loan Tenure’
  • Finally, shift the slider to 12 in the ‘Rate of Interest’ box.


Please see our example of the EMIs on a Personal Loan of `1,00,000 for varying tenure with 12% interest rate at SMFG India Credit


Payment Type

EMI Payable by Tenure

2 Years

3 Years

4 Years

5 Years






Amount Payable (Total)





Interest Payable (Total)





Disclaimer: The above table provides an approximate calculation of the EMI ( Equated Monthly Installment) amount and interest payable. Actual numbers may vary.

How is Personal Loan EMI Calculated?

Your personal loan EMI depends on three factors: the loan amount, the rate of interest and the tenure of the loan. The mathematical formula for calculating personal loan EMI is:

EMI = P × r × (1 + r)n/((1 + r)n - 1)

Where, P = Loan amount, r = the rate of interest, and n = tenure in months.

Thus, you can see that the EMI increases with the loan amount and the rate of interest, but decreases as the tenure gets larger. This may make you think that a longer tenure is better as the monthly outlay towards the loan will be lower. But this is not necessarily true, as longer tenure also results in the overall cost of the funds getting higher as the total amount that you would pay back gets larger with the tenure.

How is Personal Loan Interest Calculated?

Now that you know how to calculate the EMI, you must be wondering how personal loan interest rate is calculated. The interest rate offered by the lender depends on multiple factors. These include:

  1. Your credit history
  2. Your monthly income
  3. The loan amount
  4. Your fixed monthly obligations including any outstanding loans

As a rule, the lower the credit risk that the lender perceives, the lower is the interest rate they can offer. Therefore, to get a good interest rate ensure that you service all your outstanding loans on time, and have enough income over your fixed obligations to service the loan you are applying for.

How to Reduce your EMI for a Personal Loan?

You can reduce your personal loan EMI either by choosing a longer repayment tenure or negotiating a lower rate of interest with the lender.

By using the personal loan calculator, you can calculate the loan EMI for different tenure and select the one that suits best according to your repayment capability. Also, a good CIBIL score will help you to enjoy lower interest rates.

What are the Factors That Can Affect Personal Loan EMI?

The personal loan EMI is affected by factors like the loan amount, rate of interest and loan tenure. Please note that your personal loan EMI may also contain other charges such as insurance and service fees, which will not be indicated by the EMI calculator. The final EMI amount will be communicated to you after your loan gets approved through your loan agreement and schedule. However, the EMI calculator gives a near accurate estimate of the monthly EMI you will need to pay by taking into account the most important factors which are interest rate, tenure and loan amount. 

Using the personal loan calculator, you can calculate the personal loan EMI of different tenure and check how a change in different factors impacts the EMI.

EMI calculator for personal loan helps borrowers to select the right loan tenure based on repayment capacity.

What is the Personal Loan Amortization Schedule?

A personal loan amortization schedule is a detailed table of periodic loan EMI payments of the chosen loan tenure. The table includes the total breakdown of principal and interest amount in EMI payments of every year of the chosen loan tenure.

It is calculated using the personal loan calculator and the table is generated automatically and helps borrowers to keep track of what they owe at any given point.

How is the Personal Loan EMI to be Paid?

Your personal loan EMIs are fixed and are debited directly from your bank account on a fixed date of every month until the completion of loan tenure, the details of which are intimated at the time of approval.

Using the EMI calculator for personal loan, you can determine the EMI amount and select the right loan tenure for yourself. The personal loan EMI calculator can also be used to check how different factors impact loan EMI.


What is Personal Loan EMI?

You can use our free personal loan EMI calculator to know your monthly EMI. Additionally, if you would like to get a clearer picture, after you submit the personal loan application, our team will calculate your EMI (Equated Monthly Instalment) on the basis of the loan amount, interest rate, and repayment tenure.

How to calculate Personal Loan EMI?

The personal loan interest calculator requires you to know the loan amount you want to borrow, tenure, and applicable rate. Upon feeding these details in our free-to-use online personal loan EMI calculator, you will get to know the exact EMI to pay every month. Knowing the EMI amount will help you plan your monthly budget better. Thus, you will be able to keep enough funds for monthly repayments.

How to calculate personal loan eligibility?

Personal loan eligibility depends on factors like your monthly income (if you are salaried) or yearly profit after tax (if you are self-employed), credit worthiness (determined by CIBIL score), existing monthly obligations (including credit cards), and so on. There are also various other factors, such as your age at the time of loan application, your location, and the company's policy at the time of loan application. To know the maximum amount you can be eligible for, you can use our free personal loan eligibility calculator.

Why should you know your EMI in advance?

Knowing your personal loan EMI in advance helps in budgeting and planning out your loan repayments. Using an online EMI calculator for personal loan, you can calculate and determine the loan EMI amount, which you can pay without straining your finances, and thereby decide an optimum loan tenure.

What is the EMI for a 3 lakhs personal loan?

Assuming an interest rate of 11.99% per annum, tenure of 60 months and no additional charges like insurance, the EMI for a INR 3 lakhs personal loan would be INR 6,672. Choosing a shorter tenure would increase the monthly EMI, but would reduce the overall interest payout.

The below table provides the EMI for a INR 3 lakhs personal loan based on tenure and interest rate.

EMI for 3 Lakh Personal Loan

11.99% per annum

15% per annum

18% per annum

12 months

₹ 26,653.23

₹ 27,077.49

₹ 27,504.00

36 months

₹ 9,962.86

₹ 10,399.60

₹ 10,845.72

60 months

₹ 6,671.82

₹ 7,136.98

₹ 7,618.0

What will be the EMI for 15 lakhs?

The lowest possible EMI for INR 15 lakhs personal loan would be INR 33,359 – assuming an interest rate is 11.99% and maximum tenure of 60 months. Please note that the final interest rate offered would depend on a number of factors including the applicant’s eligibility and our policy at the time of loan application.

The following table illustrates the EMI for INR 15 lakhs personal loan at different interest rates and tenures.

EMI for 15 Lakh Personal Loan

11.99% per annum

15% per annum

18% per annum

12 months

₹ 1,33,266.17

₹ 1,35,387.47

₹ 1,37,519.99

36 months

₹ 49,814.30

₹ 51,997.99

₹ 54,228.59

60 months

₹ 33,359.09

₹ 35,684.90

₹ 38,090.1

What is the EMI for a 20 lakhs personal loan?

The EMI for a INR 20 lakhs personal loan from SMFG India Credit can be as low as INR 44,478; assuming the lowest personal loan interest rate of 11.99% per annum and the maximum tenure of 12 months. You can use our personal loan EMI calculator to know how your EMI will vary depending on the interest rate and tenure selected. While the interest rate offered will depend on many factors including our policy, borrowers have the flexibility of choosing an optimal tenure so that the resulting EMI fits within their budget.

Here is a table that provides the estimated EMI at different interest rates and tenures for a INR 20 lakhs personal loan.

EMI for 20 Lakh Personal Loan

11.99% per annum

15% per annum

18% per annum

12 months

₹ 1,77,688.22

₹ 1,80,516.62

₹ 1,83,359.99

36 months



₹ 66,419.07

₹ 69,330.66

₹ 72,304.79

60 months

₹ 44,478.79

₹ 47,579.86

₹ 50,786.85

What are the factors that affect your personal loan EMIs?

The 3 factors that influence personal loan EMIs are the loan amount, interest rate, and loan tenure. Understanding these elements is crucial as they directly impact the monthly repayment amount. A reliable personal loan EMI calculator can help borrowers make informed decisions and plan their finances effectively.

What happens if you fail to pay your EMI payment?

Failing to make timely EMI payments can lead to severe consequences. It negatively affects the borrower's credit score, making it harder to access credit in the future. Additionally, the lender may take legal action against the borrower for defaulting on the loan.

Does the EMI amount remain fixed throughout the loan tenure?

In a fixed rate of interest system, the EMI remains the same throughout the loan tenure. This allows borrowers to plan their finances more effectively since they know the exact amount they need to pay each month.

What are the benefits of knowing your EMI in advance?

Knowing the EMI amount in advance offers significant benefits to borrowers. It allows better financial planning, helping them budget expenses accordingly. This knowledge ensures they can comfortably manage loan repayments without facing financial strain. Additionally, being aware of EMI amounts allows borrowers gauge their affordability and choose suitable loan options that align with their financial capabilities.

What is the input required to calculate my personal loan EMI through this calculator?

To calculate personal loan EMI using the provided calculator, borrowers need to provide the loan amount, the interest rate charged by the lender, and the loan tenure chosen by the borrower. With these details, the calculator provides an accurate estimate of the monthly EMI amount, aiding borrowers in making well-informed borrowing decisions.

Read MoreRead Less

* Terms and conditions apply
** Subject to foreclosure charges. Terms and conditions applicable.

Knowledge Center

Here are some articles which could help you understand us and our products better.

Have a Query? Read FAQs
E-Aadhaar Card: All You Wanted To Know
Personal Loan

E-Aadhaar Card: All You Wanted To Know

In today's digital age, e-Aadhaar cards have emerged as a vital identity document, greatly…

CIF Number Meaning, Full Form & How to Get It
Personal Loan

CIF Number Meaning, Full Form & How to Get It

In the dynamic landscape of banking, Customer Information File (CIF) number emerges as a pivotal…

20 Best Christmas Getaways in India to Enjoy this Winter
Personal Loan

20 Best Christmas Getaways in India to Enjoy this Winter

Are you looking forward to planning your next Christmas vacation but need help deciding where to…