How to calculate monthly installment of a personal loan?
Anamika Verma (58 Points)
23 April 2018How to calculate monthly installment of a personal loan?
Naina Kapoor
(Financial Consultant)
(277 Points)
Replied 26 June 2020
A fixed amount payable on a monthly basis towards repayment of a loan taken from a Financial Institution. This fixed amount or monthly installments are payable over a period of time defined as the tenure. But Many people face issues while calculating the sum so, calculation is now easy with the Loan against property emi calculator and below are the steps to consider. All you need to do is enter the required information such as the loan amount, tenor, rate of interest and this would easily calculate your required data.
Anamika Verma
(58 Points)
Replied 15 September 2020
Thanks for the comments. I got this - Home Loan EMI Calculator. Easy to use and shows the accurate numbers.
Nidhi kohli
(Finance Advisor)
(22 Points)
Replied 01 April 2021
You can use an online home loan interest rate calculator.
Anshi Mishra
(2 Points)
Replied 28 July 2022
Managing multiple things can be hectic sometimes, If you want check EMI Loan, Emi Interest Rates, Managing EMI payments in one go then Bajaj Finser My Account portal comes to be very quick as it became easy to manage all the things at one place.
PARUL YADAV
(finance expet)
(93 Points)
Replied 21 June 2024
To calculate your monthly installment for a loan from Kotak Mahindra Bank, you can use the EMI (Equated Monthly Installment) formula:
EMI = [P * r * (1+r)^n] / [(1+r)^n-1],
where P is the principal loan amount, r is the monthly interest rate (annual rate/12), and n is the loan tenure in months. Alternatively, Kotak Mahindra Bank offers an online EMI calculator on their website. Just enter your loan amount, interest rate, and tenure to get the monthly installment. This tool simplifies the process and provides quick, accurate results.
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