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personal loan emi calculator

About Personal Loan EMI Calculator

Dreaming of that next big purchase or need some extra funds? With RING’s personal loan EMI calculator, you don’t have to leave anything to chance! It’s your simple and reliable tool to predict exactly what your monthly payments will look like. Whether it's for a vacation, wedding, or home renovation, our EMI calculator makes sure you’re always in control.

Benefits of Personal Loan EMI Calculator

Instant Breakdown
Paperless & Fast
Flexible results
Fully Transparent

Features of Personal Loans with RING

Credit Up to Rs. 5 Lakhs
Avail of credit up to Rs. 5 lakhs with paperless KYC.
Flexible Repayment
Choose repayment periods from 3 to 60 months.
Instant Approval
Money transferred to your bank account in 5 minutes.
Zero Paperwork
100% Digital - Hassle-free process
No Collateral Required
Secure a loan without pledging any assets.
Transparent Terms
Know all costs upfront with no hidden charges.
Competitive Rates
APR ranges from 32% to 57% per annum.
Multi-Purpose Loans
Use your loan for personal or business purposes

Check Your Eligibility

Instant Personal Loan Eligibility Criteria
To qualify for a personal loan applicants need to meet the following criteria:
  • Nationality: Indian citizen.
  • Age: Between 23 and 55 years.
  • Documentation: Selfie, PAN Card, and Aadhaar Card.
  • Income Proof: Required only for select high-value loans based on credit profile.
  • Profile : Salaried, Self-Employed, Small busines owner & MSMEs
Having these documents prepared ensures a smoother and quicker application process

Follow these simple steps to get started:

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personal loan application
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Verify Mobile Number
Enter your number on the RING app/website, receive an OTP, and verify.

Personal Loan EMI Calculator

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Breaking Down the Cost: Interest Rates Explained
A tool designed to help you understand the monthly payment on your loan. Whenever you take a loan, the EMI amount that you will pay is very important in helping you arrive at your final loan amount and repayment tenure. Our personal loan calculator helps you do just that. You will be able to see your monthly payment, and this will help you decide what your loan amount should ideally be, and if it is payable over a period.
Principal Amount (A): ₹500,000
Interest Amount (B):
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Your EMI: ₹ per month

Your Loan Amount: ₹500,000

At Interest Rate of: 2%

For : 2 years

Total Payable: ₹

Here’s a quick example to illustrate:
  • Loan Amount (Principal): ₹1,00,000
  • Tenure: 12 months
  • Interest Rate: 13% per annum
  • Processing Fee (incl. GST): ₹3000 (3%)
  • Total Interest: ₹7,180.73
  • EMI: ₹1,374.63
  • APR: Start from 14%
Disclaimer - The Loan EMI Calculator only shows an estimate. Consult your lender for accurate details.

The Formula to Calculate EMI on Personal Loan

The formula for calculating EMI is as follows:
EMI = [P x R x (1+R) ^N]/ [(1+R) ^ (N-1)]

P= Principal loan amount | R= Monthly interest rate (annual interest rate divided by 12) | N= Loan tenure in months

**To explain it further, let’s see an example:** Suppose you take a loan for ₹5,00,000 with an annual interest rate (IR) of 10% for a tenure of, say, 5 years (60 months). First, convert the annual interest rate to a monthly interest rate. In this case, the monthly interest rate would be 10%/12 = 0.00833. Using the formula, you can calculate the EMI as follows: EMI = [500000 x 0.00833 x (1+0.00833)^60] / [(1+0.00833)^60-1] By simplifying the equation, you will find that the EMI for this loan would be approximately ₹10,609. This means that your monthly payment will be ₹10,609 for 60 months to repay the loan amount along with the interest. For a more detailed explanation, you can refer to this blog.

Hear from Our Happy Customers

Priya M

Pune

Planning a wedding is stressful, but RING made it so much easier. I used their personal loan EMI calculator to figure out how much I’d need to pay each month, and it was a lifesaver. The approval process was super quick—less than 10 minutes—and everything was done online without a single piece of paper. I picked a 12-month repayment plan, and the EMIs fit perfectly into my budget. Thanks to RING, I could focus on making my big day special without worrying about the finances.
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Rajesh K

Mumbai

I needed money fast for an unexpected family emergency, and I wasn’t sure if I’d qualify for a personal loan. RING’s personal loan eligibility calculator made it simple. I entered a few details, and within minutes I knew exactly how much I was eligible to borrow. The entire process was seamless, from eligibility check to loan disbursement. The best part? The personal loan EMI calculator helped me plan my monthly repayments, so I didn’t have to worry about any surprises later on.
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Sunita P

Bengaluru

I’d been putting off renovating my kitchen for ages, but when I finally decided to go ahead, RING’s personal loan EMI calculator helped me figure out exactly how much I’d need to pay each month. It took the guesswork out of the process and allowed me to pick a loan amount and tenure that suited my budget. The entire experience—from loan application to disbursement—was smooth and hassle-free. I’m so glad I used RING!
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Vikram S

Delhi

I was a little apprehensive about taking out a loan, but RING’s tools made the process easy to understand. The personal loan EMI calculator showed me a clear breakdown of my monthly EMIs, and their personal loan eligibility calculator gave me peace of mind by confirming my eligibility before I even applied. The digital process was so fast, and I didn’t have to worry about paperwork. RING made the entire experience stress-free, and now I can focus on paying off my loan with confidence.
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Neha G

Hyderabad

My daughter’s school fees were due, and I wasn’t sure how I’d manage the payments. I came across RING’s personal loan eligibility calculator, and it immediately showed that I was eligible for a loan. The personal loan EMI calculator helped me plan the repayment in a way that fit my budget. Within a few minutes, the loan was approved, and the funds were transferred to my bank account. The process was so simple, and now I don’t have to stress about the fees!
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Amit R

Chennai

I needed a personal loan to fund a small business idea, but I didn’t want to go through a complicated process. RING’s personal loan EMI calculator made it easy to plan my repayments, and the personal loan eligibility calculator showed me exactly how much I could borrow. The process was completely digital, and I got my loan approved in just a few clicks. The flexible repayment terms made it easy to fit the EMIs into my business cash flow, and I’m already seeing my business grow!
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Find the Right Personal Loan For You

Personal Loan for Travel
Personal Loan for Travel

Fund your dream vacation and make unforgettable memories with our travel loans. From flights to hotels and everything in between, we’ve got you covered so you can focus on enjoying your trip.

Know More
Personal Loan for Students
Personal Loan for Students

Invest in your future or your child's education with our flexible education loans. Cover tuition fees, buy study materials, or enrol in that special course without financial stress.

Know More
Personal Loan for Home Renovation
Personal Loan for Home Renovation

Give your home a makeover without breaking the bank. Whether it’s a new kitchen, a fresh coat of paint, or an extension, our loans make it possible.

Know More
Personal Loan for Weddings
Personal Loan for Weddings

Make your special day even more magical with our wedding loans. Plan the perfect wedding without worrying about the expenses, from the venue to the honeymoon.

Know More

Got Questions? Let's get to them.

How do banks calculate EMI for personal loans?

Banks use the 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
  • N is the loan tenure in months But you don’t have to do the math yourself! Just use RING’s personal loan EMI calculator—simply enter your loan details, and the tool does the rest. It gives you an instant result, showing exactly what your monthly payments will be.

How do I use the Paywithring personal loan EMI calculator?

Using the RING personal loan EMI calculator is super easy! All you need to do is input three key details:

  1. Loan Amount – How much do you want to borrow?
  2. Tenure – How long do you want to take to repay the loan?
  3. Interest Rate – Enter the interest rate for your loan. Once you’ve filled in these details, click “Calculate,” and you’ll instantly see your estimated monthly EMI. This tool helps you plan your loan and ensure it fits your budget.

What is a personal loan amortisation schedule?

An amortisation schedule shows you how much of each EMI payment goes toward the principal (the loan amount) and how much is applied to the interest. Over time, as you keep making payments, more of your EMI goes toward the principal and less to interest. Use RING’s personal loan EMI calculator to get a rough idea of how your loan repayment will progress.

How is the Personal Loan EMI to be paid?

You can pay your EMIs using a variety of convenient methods, including UPI, net banking, or auto-debit. The personal loan EMI calculator will show you your monthly payment amount, allowing you to plan your finances ahead of time. Payments can be made directly through the RING app, making it simple and hassle-free.

More Questions
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