Find all the help you need

Download our app and find help on your fingertips

apple-logo playstore-logo
Download our app

Help Center

Support topics, Contact us, FAQs and more

Accounts
Deposits
Loans
Wealth & Insure
Payments
Cards
Premium Metal
0% Forex & Travel
Lifetime Free
10X Rewards
UPI Cards
Fuel & Utility
Showstopper
Credit Builder
More

Notifications

  • As per amendment in the Income Tax Rules, PAN or Aadhaar are to be mandatorily quoted for cash deposit or withdrawal aggregating to Rupees twenty lakhs or more in a FY. Please update your PAN or Aadhaar. Kindly reach out to the Bank’s contact center on 1800 10 888 or visit the nearest IDFC FIRST Bank branch for further queries.

  • Activate your Credit Card within minutes and enjoy unlimited benefits

  • One FASTag, three payments:Toll, fuel and parking

    The only FASTag with triple benefits

Personal Loan EMI Calculator Online – Check Your Monthly EMI Instantly

A personal loan EMI calculator can help you determine your monthly repayment amount, when planning to apply for a personal loan. Whether you need funds for urgent expenses, travel, home improvements or medical bills, this EMI calculator tool lets you plan your expenses and make better borrowing choices. Calculate your Equated Monthly Instalments (EMIs) simply by entering details of the principal loan amount, tenure, and interest rate offered.

IDFC FIRST Bank’s personal loan EMI calculator also offers a complete amortisation schedule based on your entries to give you clear picture of each monthly repayment. By using this online calculator tool, you can choose a suitable loan plan after comparing various lender offerings.

An amortisation schedule is a detailed table showing how each of your EMI is split between the principal component and the interest component over the loan tenure.

Read more

Amortization Schedule

Month Principal Interest EMI Balance Loan Paid to Date

What are the Factors Affecting Personal Loan EMIs?

Personal loan EMIs are influenced by multiple factors as listed below. Depending on where you stand on these parameters, you may get a lower or higher monthly instalment amount:


  1. Principal loan amount: The amount that you borrow from your lender is known as the principal loan amount. If you opt for a higher loan amount, the resulting EMI may also be higher since the principal loan component is larger.

  2. Interest rate: This is the percentage rate charged over the principal loan amount. It plays a key role in deciding the EMI amount. A higher interest rate increases the interest portion of your repayment, thus contributing to a higher EMI amount.

  3. Loan tenure: It is the period over which you are supposed to repay your loan completely. A longer tenure reduces your EMI but increases the total interest paid overtime, whereas a shorter tenure increases your EMI but reduces the overall interest cost.

  4. Credit score: It is 3-digit score of your financial well-being and ranges between 300 to 900. The higher your credit score, the lower interest rate you may get, thereby lowering your EMI. With a poorer credit score, you may have to accept more stringent terms as well as higher EMIs.

A personal loan monthly EMI calculator from IDFC FIRST Bank can help you adjust the parameters like the principal loan amount, interest rate offered, and the loan tenure to find the most suitable loan plan. You can also use it to compare the loan offering from various lenders and choose one that fits your budget.


How to use the IDFC FIRST Bank's personal loan EMI calculator?

The IDFC FIRST Bank personal loan EMI calculator is quite easy to use! Follow these simple steps:


  1. Access the EMI calculator:

    Scroll up to the online personal loan EMI calculator tool. It is available 24X7 and free to use.

  2. Enter your loan details:

    Enter the loan amount, interest rate, and loan tenure you are expecting. Type-in the values directly in the fields or adjust the slider adjacent to field.

  3. View instant EMI calculation

    After entering all the required details, you will get your tentative EMI calculations.

  4. Check the amortisation schedule:

    In addition to the EMIs, IDFC FIRST Bank’s personal loan EMI calculator also offers the complete amortisation schedule. Go through the table to understand the payment breakdown of the loan and interest component.

  5. Plan your repayment:

    You can adjust the loan amount, interest rate, and tenure in the personal loan EMI calculator to compare various loans to then choose a suitable one and plan your repayment effectively.


How is Personal Loan EMI Calculated?

The personal loan EMI calculator factors in the following three parameters to determine the monthly EMI.


  • P = Principal loan amount

  • R = Rate of interest

  • N = Loan tenure in months

Personal loan EMI calculator, based on these inputs, applies the following mathematical formula  to compute the monthly instalment:


EMI = [P × R × (1+R)^N] / [(1+R)^N - 1]

For instance, if you avail a ₹5,00,000 personal loan at 9.99% for 5 years, you will have an EMI of about ₹10,621.


After you enter your loan details: loan amount, rate of interest, and tenure of the loan, the loan EMI calculator will provide you with the total repayment breakdown along with the interest portion, the outstanding amount, and payment so far in the amortisation schedule.

The IDFC FIRST Bank personal loan EMI calculator helps you get an accurate estimation of your EMI and avoid the hassle of manual calculations.

What are the benefits of using a Personal Loan EMI Calculator?

calculate loan emi amount

Accurate EMI prediction

With the personal loan EMI calculator, you can determine the exact EMI amount before applying for a personal loan. By using this online tool, you also avoid any manual errors and get accurate EMI estimation.

Time-Saving

Quick calculation

If you manually calculating your monthly EMI it can be time-consuming and cumbersome. With the IDFC FIRST Bank personal loan EMI calculator, you can get instant prediction of your EMI amount in just a few minutes.

ease of using personal loan calculator

Convenient to use

You can access the IDFC FIRST Bank personal loan calculator easily on any device. It requires you to enter just a few loan details which makes it convenient to use as well.

Easy Comparison

Enables easy comparison

Before choosing a personal loan, you must compare various lenders and choose the most suitable loan option. A personal loan monthly EMI calculator eases your lender comparison process by giving you error-free and accurate EMI calculations each time you use it.

Better Planning

Helps in better planning

Understand your entire repayment plan with a complete visualisation of your amortisation schedule that includes your loan amount, interest component, and balance amount.

View All

Personal Loan Blogs

Digital Lending 101: How Instant Personal Loans Work in India 2025

Digital Lending 101: How Instant Personal Loans Work in India 2025

Ten years ago, getting a personal loan meant weeks of paperwork, physical visits to a branch, and constant follow-ups. Today? You can get the funds you need within a few hours — entirely online.

Team FinFIRST Aug 08 • 3 mins read

Read Full Story

Discover Our Banking Products

Explore Financial Calculators

Loans

Savings Calculators

Personal Loan EMI Calculator FAQs

How do I check my eligibility for a personal loan?
Does the EMI amount remain fixed throughout the loan tenure?
What is the minimum salary requirement for a ₹5 lakh personal loan?
Is this personal loan EMI calculator only usable for IDFC FIRST Bank loans?
What factors should I consider when using a personal loan calculator?
When is the active loan offer revised after paying an EMI?
How is a personal loan EMI payment made?
How to reduce your personal loan EMIs?
Can I calculate EMIs for different loan amounts?
Can I use an EMI calculator for floating interest rate loans?
How accurate are online personal loan EMI calculators?
How does the EMI change with prepayments?
How does the loan tenure affect the EMI amount?
Is the EMI amount fixed throughout the loan tenure?
What is an amortisation schedule in EMI calculation?
What is the formula used in EMI calculation?
Can I calculate the total interest payable using an EMI calculator?
Can I calculate EMIs for top-up personal loans?
Are there any charges for using online personal loan EMI calculators?
How does the EMI calculator factor in part-prepayments?
Can I use the EMI calculator to compare different loan tenures?
How can I check my personal loan eligibility?
More FAQs