Personal Loan EMI Calculator
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
Calculate Monthly EMI Amount using Personal Loan EMI Calculator
At a Glance
Personal Loans from DBS Bank help make your dreams 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. Plan for your monthly outflows with our easy-to-use Personal Loan EMI Calculator.
DBS Bank's Personal Loan EMI Calculator
Now you can fulfil every dream with DBS Bank's Personal Loans. Apply for the loan online and compute your monthly EMI in seconds with our Personal Loan EMI Calculator.
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. The freely available online tool empowers you to determine an affordable EMI amount so that you do not have to compromise on other expenses to maintain a comfortable lifestyle.
Personal Loan EMI Calculator
How To Use Our Online Personal Loan EMI Calculator?
We have designed our Personal Loan Calculator to simplify EMI calculation for you. To use, input the loan amount, interest rate and loan tenure. The calculator automatically computes the monthly instalments in seconds.
If the EMI is too high or low, you can reset the sliders and modify the variables. If you want a reduced EMI, you have will to adjust either the principal loan amount or the loan repayment tenure. If you can pay higher EMIs, you can raise the principal amount you want to borrow or reduce the tenure to repay faster.
Factors Affecting Personal Loan EMIs
Your Personal Loan EMI depends on three factors or variables used to compute the fixed monthly payment you need to make to repay your loan obligation. They are:
- The principal loan amount you need
- The rate of interest offered by your lender
- The loan repayment tenure you select
The lender considers your personal factors such as your age, income, credit or CIBIL scores, past credit behaviour, loan repayment capacity, and creditworthiness to determine the maximum principal loan amount and the interest rates you can get. Better CIBIL scores lead to lower interest rates and a higher principal loan amount.
Calculating the Personal Loan EMI – The Formula
The Personal Loan EMI calculator uses a simple formula to determine your EMI. The formula used is:
E = P * r * (1+r)^n / ((1+r)^n-1)
Here E stands for EMI
P is the principal loan amount
r is the rate of interest calculated monthly
n is the tenure/duration of the Personal Loan.
- 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
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 a fixed amount you must pay every month to repay your loan obligations.
An EMI calculator is an online tool that helps you calculate your EMI based on your principal amount, rate of interest, and tenure.
At DBS Bank, we want to make your life easier. To that end, you need not worry about complex calculations. You can use the DBS Bank online Personal Loan EMI calculator on our website.
We have designed the Online Personal Loan EMI calculator to make it easy to calculate your monthly instalments. Input the three variables – the proposed loan amount, interest rate, and a suitable loan repayment tenure. You can move the easy-to-use sliders to input the correct numbers for each of the variables. It will automatically calculate your monthly repayments for different combinations of principal, interest, and tenure. Given your financial commitments, you can use the sliders to change variables until you reach the ideal monthly outflow.
DBS Bank offers Personal Loan amounts of up to INR 15 lakhs, based on the eligibility criteria of the borrower.
You have the flexibility to take personal loans from DBS Bank for tenures ranging from 12 months to 60 months or 1-5 years.
Yes, you can check personal loan eligibility by using another online calculator – the Personal Loan Eligibility Calculator, which computes the maximum loan amount you can get based on your age, net monthly income, and monthly expenses.
No, 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.
Paying your EMI is accessible with the digiSavings Account. Ensure that you have sufficient balance two days before the date on which the EMI is due. On the due date, the EMI is automatically debited from your account. You can pay your loan only through the digiSavings Account; there is no option for repayment from other bank accounts. Customers can subscribe to receive notifications in the DBS Bank app for reminders on EMI due dates and the due amounts.
Once the loan is sanctioned and disbursed, you can access your repayment schedule from the 'Statements' section under 'Personal Loans' in your digibank by DBS menu.
You can apply for a loan online on the digibank website by filling an online form and submitting scanned copies of the documents required. If you fit the bank’s eligibility criteria, the bank will disburse the loan amount directly into your account.
It is always a good idea to calculate your EMI before applying for a loan. It can help you know the exact EMI amount that you will pay over the desired loan amount.
In simple terms, the principal amount is the total desired loan amount. It excludes interest rate figures, so this calculator is also known as a Personal Loan interest calculator. Here is an example to help you understand it better.
If you take a Personal Loan of INR 10 lakh for a tenure of 36 months at an interest rate of 13.25%, the principal amount will be INR 10 lakh. But you will need to pay an EMI, which will also consist of the payable rate of interest.
Hence, the loan EMI will be INR 33,814 per month. The total amount payable over the tenure will be INR 12,17,327.
Thus, even though you availed of a loan amount of INR 10 lakh, you will need to repay INR 12,17,327 (Principal + interest).
If you take a Personal Loan of INR 10 lakh for a tenure of 36 months at an interest rate of 13.25%, the principal amount will be INR 10 lakh. But you will need to pay an EMI, which will also consist of the payable rate of interest.
Hence, the loan EMI will be INR 33,814 per month. The total amount payable over the tenure will be INR 12,17,327.
Thus, even though you availed of a loan amount of INR 10 lakh, you will need to repay INR 12,17,327 (Principal + interest).
**All loans will be given out at the sole discretion of DBS Bank India Limited.
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