Personal Loan EMI Calculator
Calculate your Personal Loan EMI
Plan your finances with precision. Adjust the sliders to see your monthly installments and total repayment details in real-time.
Plan Your Loan Better
Use this EMI calculator to quickly check how much you may need to pay every month. Just adjust the loan amount, interest rate, and tenure to see your estimated EMI instantly.
It helps you understand your monthly repayment better and makes it easier to choose a loan amount that fits your budget.
What Affects Your EMI
Your EMI mainly depends on three things:
Loan Amount
The amount you borrow plays a big role in your EMI. In most cases, a higher loan amount means a higher monthly payment.
Interest Rate
The interest rate decides how much extra you pay on top of the loan amount. Even a small change in the rate can affect your EMI and the total repayment amount.
Loan Tenure
Loan tenure is the time you take to repay the loan. A longer tenure can reduce your monthly EMI, but the total interest paid may be higher. A shorter tenure can increase your EMI, but it may reduce the total interest.
Note: The EMI shown here is only an estimate. Final loan terms may vary.
Frequently Asked Questions
- Loan sanctioned by Weekline Investment and Trading Company Ltd: ₹1,50,000 for 3 years
- Processing Fee: ₹6,195 (3.5% + 18% GST)
- Stamp Duty: ₹500
- Amount credited to your bank account: ₹1,43,305
- Interest Rate: 22% p.a. (on reducing principal balance)
- EMI: ₹5,730 per month
- Total Payable (36 EMIs): ₹2,06,280
- Total Interest Paid: ₹56,280
- Total Cost of Borrowing (interest + fee + stamp duty): ₹62,975
- Annual Percentage Rate (APR): 25.41%
This is an illustrative example. Processing fee can be up to 5% of the loan amount plus GST. Actual terms depend on your eligibility and will be shown in the Key Fact Statement before you accept the loan.
- Age: Minimum 21 years
- Employment Type: Salaried or Self-Employed
- Minimum Monthly Income: ₹16,000 or above
- Mobile Number: Aadhaar-linked mobile number for verification
- Citizenship: Indian resident with valid KYC documents
No, this is an unsecured loan, and therefore, no collateral or security is required to avail of the loan. The loan is sanctioned based on the borrower's eligibility, creditworthiness, and repayment capacity.
The Key Fact Statement (KFS) is a document that summarizes the important terms of your loan, including interest rate, charges, and repayment details. It is provided to the borrower before the execution of the loan agreement to ensure full transparency.
Borrower consent is obtained digitally through secure electronic means, ensuring that the borrower has reviewed and agreed to the loan terms before proceeding.
