Personal loan is an extremely popular choice to mitigate financial shortfalls. Proceeds from this facility are quickly disbursed, which can be used for any purpose may it be personal or business. However, its unsecured nature mostly makes lenders consider various parameters like your credit score, monthly income, employer, repayment capacity etc., while evaluating your loan application. Failure to meet any of the personal loan criteria set by the lender may lead to instant loan rejection or approval at a higher personal loan interest rate. Thus, it is crucial to apply for personal loan after factoring in all the parameters, particularly your repayment capacity. Knowing your repayment capacity not just helps keep your finances in order but also avail personal loan approval at suitable terms and conditions.

Usage of an online personal loan calculator is the only way you can know your repayment capacity and hence prevent loan application rejection. Such calculators help you know whether your loan EMI is within the serviceable limit and accordingly assist you calculate your fund outflow in the form of personal loan EMI. However, before you calculate your EMI using the calculator, note that higher EMIs lead to shorter tenure and reduced interest outgo while lower EMIs result in higher interest and longer tenure. Thus, after knowing your EMI affordability potential, choose the shortest tenure possible to reduce your overall interest outgo.

Checkout how usage of personal loan EMI calculator can help you keep your finances in order:

  • Provide an estimate about your EMI outgo

Online personal loan calculators ask for data like loan amount, repayment tenure and interest rate to calculate your EMI. After this, the calculator fetches you with the EMI result that you will have to repay.

  • Helps make an informed decision by assessing the parameter that affect your EMI

Your loan amount, repayment tenure and interest rate determine your overall EMI outgo. Choosing a longer loan tenure leads to lower EMIs but higher interest and vice versa. By making changes to the different fields in the calculator, you can arrive at the EMI that matches with your repayment capacity.

  • Gives accurate results and saves time

You can perform all types of complex calculations using the calculator with ease, which helps save considerable time and effort. These calculators also lower the possibility of committing any mistakes, which otherwise is highly possible through manual mode. Incorrect manual calculation may make you opt for an unsuitable EMI not as per your repayment capacity, which may cause a huge crisis on the financial front.


Ensure to keep different factors like interest rate, repayment tenure, your potential to repay in mind before you hit on the personal loan apply option on the lender’s website. You can take care of these factors easily by using the personal loan EMI calculator. These calculators give accurate and quick outcomes for proper planning before availing personal loans. Personal loan EMI can easily be calculated by shifting around the tenures, loan amounts and rates as per your repayment capacity.