InCred Personal Loan EMI Calculator

Managing your personal loan repayments effectively begins with understanding your EMIs. The InCred Personal Loan EMI Calculator helps you estimate your monthly instalments, making financial planning easier.

Your Personal Loan EMI

₹ 24,318

Total Interest Amount

₹ 459,083

Principal Amount

₹ 1,000,000

Total Payable Amount

₹ 1,459,083

Loan Amount

Interest Rate

- +

Tenure

- +

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You can also make instant comparisons between loan offers from over 20 personal loan providers on Bajaj Markets.

Calculation of EMI Amounts for an InCred Personal Loan

An Equated Monthly Instalment (EMI) is the fixed amount you repay each month towards your InCred Personal Loan. It includes both the principal and interest components, ensuring structured repayment over the chosen tenure. The EMI calculation considers the loan amount, interest rate, and tenure, helping you plan your finances better by providing clarity on your monthly repayment obligations.

EMI Calculation Formula

You can calculate the EMI using the standard formula:

EMI = P x r x (1 + r)n / (1 + r)n-1

Where:

P is the loan amount
r is the monthly interest rate (Annual rate / 12 / 100)
n is the loan tenure in months

Example EMI Calculation

Let’s consider an example for an InCred Personal Loan:

Principal Amount is ₹10,00,000
Interest Rate is at 16% p.a.
Loan Tenure is 5 years (60 months)

Loan Amount	Tenure	Interest Rate	Total Interest	Monthly Instalments(EMI)
₹10,00,000	60 Months	16%	₹4,59,083.43	₹24,318.06

Benefits of Using the InCred Personal Loan EMI Calculator

The InCred Personal Loan EMI Calculator makes loan planning easier with quick and precise estimates. Here’s how it helps:

Clear Loan Obligations

Get a clear idea of EMIs for your personal loan in advance to manage your monthly budget with confidence.

Accurate Financial Planning

Enter basic loan details to calculate EMIs instantly and plan your finances better.

Flexible Repayment Planning

Adjust the tenure to see how it affects your EMI and choose a suitable repayment plan.

Easy Loan Comparison

Compare different loan options by tweaking the tenure and interest rate to find the best fit.

Quick and Error-free Calculations

Skip manual calculations and get instant, accurate results effortlessly.

Factors Affecting InCred Personal Loan EMIs

Knowing what impacts your EMI helps you plan repayments better. Here are the key factors:

Interest Rate

A lower interest rate means smaller EMIs, while a higher rate increases your borrowing cost.

Loan Amount

The more you borrow, the higher your EMI, while a smaller loan reduces your monthly burden.

Loan Tenure

A longer tenure lowers your EMI but increases total interest paid, while a shorter tenure does the opposite.

Credit Score

A high credit score may get you lower interest rates, making EMIs affordable, while a low score leads to higher costs.

Monthly Income

A higher income may help you qualify for better loan terms with lower EMIs.

Existing Debts

Having multiple loans increases your debt-to-income ratio, which could lead to higher EMIs or stricter loan terms.

Type of Interest Rate

Fixed interest rates keep EMIs stable, while floating rates fluctuate, impacting monthly repayments.

Part-payment and Foreclosure

Paying off a part of the loan early reduces EMIs, though prepayment charges may be applicable.

Processing Fees and Charges

Additional fees can increase your overall loan cost, indirectly affecting your EMI.

How to Pay Your InCred Personal Loan EMI

Paying your InCred Personal Loan EMI on time helps maintain a good credit score and avoids late fees. Here are the different ways to make your payments:

Auto-debit Facility

Set up an auto-debit mandate with your bank to ensure your EMI is deducted automatically on the due date.

Net Banking

Mobile Banking App

Use InCred’s mobile app to make secure EMI payments anytime, with instant confirmation.

UPI and Digital Wallets

Pay instantly using UPI apps or digital wallets for a quick and convenient transaction.

Credit/Debit Card Payments

You can use your credit or debit card to pay your EMI.

Cash

Pay your EMI in cash at designated InCred branches or partner locations for a secure transaction.

Cheque

Submit a cheque at the nearest InCred branch and the transaction will be recorded in your passbook for easy reference.

Demand Draft (DD)

Issue a demand draft in favour of InCred and deposit it at the designated branch for EMI payment.

Frequently Asked Questions

InCred Personal Loan

How can I calculate my InCred Personal Loan EMI?

You can calculate your InCred Personal Loan EMI using the InCred Personal Loan EMI Calculator available on Bajaj Markets. Enter the loan amount, interest rate, and tenure, and the tool will instantly display your EMI, total interest, and repayment amount, helping you choose a suitable repayment plan with ease.

What are the EMI charges for an InCred Personal Loan in case of prepayment?

The prepayment charges for an InCred Personal Loan are up to 5% of the outstanding amount, plus applicable taxes. Check your loan agreement for exact charges based on your repayment schedule.

How do I repay an InCred Personal Loan?

You can repay your InCred Personal Loan through multiple modes, including:

Auto-debit mandate (automatic deduction from your bank account)
Net banking (NEFT, RTGS, IMPS)
UPI and digital wallets
Debit/credit card payments

What is the EMI for a ₹2 Lakhs personal loan?

The EMI for a ₹2 Lakh personal loan at an interest rate of 16% p.a. for a 5-year tenure is ₹4,863.61 per month. Use the InCred Personal Loan EMI Calculator to check EMIs for different tenures and interest rates.

What is the interest rate for an InCred Personal Loan?

The InCred Personal Loan interest rate starts from 16% p.a., varying based on credit score, income, loan amount, and tenure.

What is the EMI for a ₹5 Lakh personal loan over 5 years?

The EMI for a ₹5 Lakh personal loan at 16% p.a. for a 5-year tenure is ₹12,159.03 per month. Use the InCred Personal Loan EMI Calculator to check EMIs for different loan amounts and tenures.

How can I calculate the EMI on a personal loan?

You can calculate the EMI on a personal loan using the InCred Personal Loan EMI Calculator by entering the loan amount, interest rate, and tenure. The tool instantly provides your monthly EMI, total interest, and repayment amount for easy financial planning.

How is EMI calculated on a personal loan?

EMI on a personal loan is calculated using the formula:

EMI = P x r x (1 + r)n / (1 + r)n-1

Where