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Personal Loan EMI Calculation Formula

You can use this personal loan EMI formula to manually calculate the EMI value for the loan. To calculate this, you need to compute the duration (period or no.of year or months for loan repayment) (n), prinicipal amount and rate of interest (r) in the personal loan EMI calculation formula. Find (1 + r)n. Multiply the obtained value with principal and interest rate. On an other end, subtract one from (1 + r)n. Divide both the resultant value to know the monthly loan EMI.

Personal Loan EMI Formula

Formula:

Monthly Loan Equated Monthly Installment (EMI) = P x r x (1 + r)n / ((1 + r)n - 1)

Where,

n = Duration (Period or no.of year or months for loan repayment.)
P = Prinicipal Amount
r = Rate of Interest / 1200

Related Calculator:

The simple EMI formula will assist you in making an overall predictions of the monthly installment for the total loan. Compute the values in the personal loan EMI calculation formula to know the total monthly EMI and total principal of a loan that you need to pay off.