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Finnable Personal Loan EMI Calculator

If you are planning to apply for a personal loan from Finnable,

...

you can use the EMI calculator to check the monthly instalments. This tool can also help you manage your loan repayment efficiently.

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Your Personal Loan EMI
₹ 4,858
Total Interest Amount
₹ 91,498
Principal Amount
₹ 200,000
Total Payable Amount
₹ 291,498
Loan Amount i
Interest Rate
- +
Min value reached
Max value reached
Tenure
Months drop-down-img
  • Years
- +
Min value reached
Max value reached
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You can also make instant comparisons between loan offers from over 20 personal loan providers on Bajaj Markets.

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You can also evaluate the total interest amount and overall payable amount for better financial planning and budgeting.

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The Finnable EMI calculator is easy to use and features a convenient slider to enter the required details.

Here’s how you can determine your personal loan EMI using the online calculator:

  1. Enter details such as the loan amount, interest rate, and loan tenure

  2. As you input the details, the loan amount, total interest, and EMI will be displayed on the screen

Finnable Personal Loan EMI amounts can be calculated with the following formula:

EMI = P×r×(1+r)n / (1+r)n−1

Where:

  • P: Principal loan amount

  • r: Monthly interest rate (annual rate divided by 12)

  • n: Loan tenure in months

However, when you use the EMI calculator, you can get the values in seconds. Finnable EMI Calculators allow you to compare various combinations of tenure and interest rates, to see various EMI amounts and what is suitable for you.

Here is the detailed calculation of EMI amounts as per tenure up to 5 years for a fixed loan amount of ₹5 Lakhs and interest rate 16%:

Loan Amount

Tenure

Interest Rate

Total Interest Amount

EMI

₹5 Lakhs

1

16%

₹44,385

₹45,365

₹5 Lakhs

2

16%

₹87,557

₹24,482

₹5 Lakhs

3

16%

₹1,32,827

₹17,579

₹5 Lakhs

4

16%

₹1,80,167

₹14,170

₹5 Lakhs

5

16%

₹2,29,542

₹12,159

Note: The EMI and interest values shown above are approximate figures generated by the calculator. The actual amount may vary based on factors such as your credit history, net income, and existing debts. 

Here are some key benefits of using a personal loan EMI calculator from Finnable:

Completely free

You can use it anytime, anywhere, at no cost

Quick and accurate

The calculator delivers instant results with 100% accuracy

Simple and accessible

Finnable ensures a hassle-free experience, allowing you to calculate your EMI in just a few steps

Secure and private

Your data is protected with standard security measures, and no personal information is shared with third-party apps

No misuse of data

Your details are used solely for EMI calculations and not for any other purpose

Trusted and regulated

Finnable is authorised by the RBI and operates under NBFC regulations

Financial planning made easy

The EMI calculator helps you assess your loan eligibility, evaluate repayment capacity, and manage your finances effectively before committing to a loan
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There are several factors that can influence personal loan EMIs. By considering these factors, you can make informed decisions and choose a loan that best suits your financial situation.

Here are the key factors that influence your EMI:

Loan Amount

The loan amount is the principal sum borrowed. During repayment, this amount is divided into smaller portions spread across the loan tenure. The higher the loan amount, the higher the EMI.

Credit Score

Your credit score, also known as a CIBIL score, plays a crucial role in determining your loan terms. A high credit score may help you secure a lower interest rate, reducing your EMI. On the other hand, a low or non-existent credit score can lead to higher interest rates, increasing your EMI amount.

Interest Rate

The interest rate is the cost charged by the lender on the loan amount. You can choose between:

  • Fixed interest rates keep your EMI same throughout the loan tenure

  • Floating interest rates fluctuate based on RBI regulations, meaning your EMI may increase or decrease over time

Loan Tenure

The tenure is the period over which the loan is repaid. A shorter tenure means higher EMIs but lower overall interest payments. A longer tenure results in lower EMIs but higher interest costs over time.

Finnable provides multiple convenient options for EMI payments that help you stay on track with your repayments while avoiding late fees and missed payments. You can choose from:

  • Online payments

You can pay your EMIs easily through net banking, UPI, or debit card transactions

  • Automatic bank deductions

Set up an auto-debit facility to ensure timely payments directly from your bank account

  • Finnable mobile app

Use the FINNABLE app for seamless and hassle-free EMI payments

Frequently Asked Questions

Personal Loan EMI
What are the details that I will have to enter on the Finnable personal loan EMI calculator?

You need to enter the required loan amount, loan tenure, and interest rate.

Yes, you can use the calculator multiple times.

The interest rate starts from 15.95%.

You can calculate the EMI using the following mathematical formula:

EMI =P×r×(1+r)n/(1+r)n−1

Yes, Finnable is a rapidly growing financial technology (Fintech) start-up that offers various loan products and services, including provident fund (PF) tracking and EMI calculators.

At an interest rate of 16% and a tenure of 3 years, the EMI would be ₹3,516.

At an interest rate of 16% and a tenure of 3 years, the EMI would be ₹7,031.

The minimum salary required to apply for a Finnable Personal Loan is ₹15,000 per month.

Finnable has a lock-in period of 6 months.

  • Within 6 months – 6.5% of the outstanding loan amount

  • Between 6 to 12 months – 4.5% penalty

  • Between 12 to 24 months – 4% penalty

  • Between 24 to 36 months – 3% penalty

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