Calculate EMI for your Personal Loan
Monthly EMI
₹ 11,505
Principal Amount
₹ 5,00,000
Total Interest
₹ 1,90,300
Total Amount
₹ 6,90,300
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Personal Loan EMI Calculator
Get a clear view of your Loan Plan with our Personal Loan EMI Calculator. Choose your amount, interest rate and tenure to see your EMI instantly.
Calculate EMI for your Personal Loan
Personal loans from DBS Bank help make your dream come true. The ideal vacation, the perfect wedding, or the latest gadget you have set your eyes on, you can get it through personal loans. Manage your finances without putting burden on your monthly savings by planning ahead.
Our customisable EMI calculator for Personal Loans helps you identify and plan your monthly outflow quickly. It lets you adjust the loan amount and tenure in a way that does not affect your current financial commitments and lifestyle. This freely available personal loan interest rate calculation tool helps you accurately estimate your repayment costs, so that you do not have to compromise on other expenses to maintain a comfortable lifestyle.
How To Use Our Online Personal Loan EMI Calculator?
Using a personal loan calculator can be quick and easy way to plan your finances before you apply for personal loan online. With our easy-to-use personal loan EMI calculator, you can also ensure that you choose a repayment plan according to your affordability by following these steps:
Step 1: Enter Loan Details – Input your preferred loan amount, interest rate, and tenure. The calculator will instantly compute your EMI.
Step 2: Customize Your Loan – Use the sliders to modify the loan amount, interest rate, or tenure to match your repayment capacity. Select a DBS Personal Loan ranging from INR 25,000 to INR 15 lakhs, with a repayment period between 12 and 60 months.
Step 3: Optimize Your EMI – Reduce EMI by choosing a longer tenure or increase it with a higher loan amount or shorter repayment term.
Factors Affecting Personal Loan EMIs
Your Personal Loan EMI is determined by three key factors that influence your fixed monthly repayment amount:
- Principal Loan Amount – The loan amount you require, ranging from INR 25,000 to INR 15 lakhs.
- Interest Rate – The rate of interest set by your lender. You can estimate costs easily using a Personal Loan Interest Rate Calculation tool.
- Loan Tenure – The repayment period you select, typically between 12 and 60 months.
To determine the ideal repayment plan, you can use a Personal Loan EMI Calculator to compute your monthly outflow instantly. These tools help adjust your loan amount and tenure, ensuring affordability. Additionally, lenders consider factors like your age, income, credit score (CIBIL score), and repayment capacity when deciding the maximum loan amount and applicable interest rate. A higher CIBIL score can lead to lower interest rates and a better loan offer.
Formula to determine Personal Loan EMI
The Personal Loan EMI calculator uses a simple formula to determine your EMI. This is the standard formula that is used for personal loan calculators. The formula used is:
E = P * r * (1+r)^n / ((1+r)^n-1)
|
Symbol |
Meaning |
|
E |
EMI (Equated Monthly Instalment) |
|
P |
Principal loan amount |
|
R |
Rate of interest (calculated monthly) |
|
n |
Tenure/ duration of the Personal Loan |
This formula helps you estimate your monthly repayment, making it easier to plan your finances. Using a Personal Loan EMI Calculator ensures quick and accurate calculations for better financial decision-making.
Benefits of Using the Personal Loan Calculator
- Instant calculation
- 100% accurate EMI computation
- No room for error
- Freely available to use numerous times
- Easy to reset and reuse
- Opportunity to adjust variables to compute an affordable EMI amount
- It helps you calculate the total cost of the Personal Loan before submitting your loan application
Repaying the Personal Loan EMI
Personal loan EMI is the monthly pay-out you need to consider to be financially comfortable during the tenure of the loan. You make personal loan repayments through equated monthly instalments, or EMIs split evenly across the loan tenure. You can repay the EMIs by setting up standing instructions or Electronic Service Clearing (ECS) instructions with DBS Bank to debit the EMI amount on a fixed date each month.
Frequently Asked Questions
EMI stands for Equated Monthly Instalments. It is the fixed monthly amount you pay to repay your loan, which includes both principal and interest.
A personal loan EMI calculator is an online tool that helps you estimate your monthly EMI based on the loan amount, tenure, and interest rate. It allows you to plan your repayments effectively.
Personal Loans offered through DBS Bank have a fixed interest rate for the entire loan tenure. So, both your EMI and interest rate will remain constant throughout the loan tenure, irrespective of fluctuation in market interest rates.
To secure a lower personal loan interest rate, maintain a high CIBIL score, have a stable income, and demonstrate good repayment history.
DBS Bank offers Personal Loans ranging from ₹25,000 up to a maximum of ₹15 lakhs.
The maximum personal loan tenure offered by DBS Bank is 60 months (5 years). You can check the EMI by using the personal loan eligibility calculator tool to check the loan amount you are eligible to borrow and estimate your EMI.
You can pay your EMI via internet or through the digibank app, The EMI will be debited from you DBS Bank savings account, it is important to ensure you have sufficient funds at least two days before the EMI due date.
After obtaining a Personal Loan from DBS Bank, you can download your repayment or loan schedule from the digibank app. Go to the 'Statements' section under Personal Loans.
**All loans will be given out at the sole discretion of DBS Bank India Limited.
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