How to calculate personal loan interest emi

You can calculate it manually but it can prove to be time consuming, so it is better to use Personal loan EMI calculator to get the exact amount that you need to pay every month to your lender.

GEt your personal loan emi calculator Download,     and for detail understanding of EMI calculation click here to read.

The mathematical formula for calculating EMIs is: 

 [P x R x (1+R)^N]/[(1+R)^N-1], 

where P stands for the loan amount or principal, 

R is the interest rate per month [if the interest rate per annum is 11%, then the rate of interest will be 11/(12 x 100)], 

and N is the number of monthly installments

Source : https://emicalculators.in/