Enter Loan Amount
Rate Of Interest
Tenure
With growing expenses comes a sudden cash crunch. At times, whether it's the end of the month or due to an emergency requirement, you may need a small loan amount to cover unplanned expenses. In such situations, a small personal loan of up to ₹50,000 from Pocketly can support your financial needs.
All you need to do is register yourself, select the working student / salaried / self-employment category, complete your KYC, and provide the essential documents—that's it! Within minutes, you will be approved for the loan, and the amount will be credited to your bank account in less than 7 minutes.
So, if you are concerned about asking friends and family for extra cash, you don't need to. Sort all your financial woes with Pocketly!
An EMI (Equated Monthly Instalment) is the fixed amount you repay every month until your loan is fully paid off. It is made up of two parts—the principal and the interest. Pocketly's EMI calculator lets you check your monthly outgo instantly before you apply, so there are no surprises later.
Simply enter your loan amount, the rate of interest and the tenure using the sliders above. The calculator instantly shows your total payable amount along with the split between principal and interest.
Manually calculating your EMI is time-consuming and error-prone. An online calculator does it for you in seconds and helps you plan better:
The formula used for calculating the EMI is as follows:
Where:
For example, for a loan of ₹5,000 at 10% annual interest over 6 months, the monthly rate R = 10 / 12 / 100 = 0.00833, which gives an EMI of approximately ₹857.81 and a total payable of ₹5,146.84.
Note: the annual interest rate is converted to a monthly rate before the EMI is calculated—i.e. Annual Rate ÷ 12 ÷ 100.
A higher credit score signals lower risk to the lender and usually fetches you a lower interest rate, which directly reduces your EMI. Maintaining a healthy repayment history keeps your borrowing cost down.
The larger the principal you borrow, the higher your EMI for the same tenure and rate. Borrow only what you need to keep instalments comfortable.
A longer tenure lowers your monthly EMI but increases the total interest paid over the life of the loan. A shorter tenure does the opposite.
A fixed interest rate keeps your EMI constant throughout the tenure, while a floating rate can change with the market, causing your EMI to vary.
Prevailing economic conditions and lending rates influence the interest offered to you, which in turn affects your EMI.
EMI stands for Equated Monthly Instalment—the fixed amount you pay every month towards repaying your loan. It includes both a principal and an interest component.
It is an online tool that instantly computes your monthly EMI, total interest and total payable amount based on your loan amount, interest rate and tenure.
Enter your loan amount, rate of interest and tenure in the calculator above. The EMI is computed using the formula E = P × R × (1+R)^N / [(1+R)^N − 1].
Drag the sliders or type values for loan amount, interest rate and tenure. The total payable and the principal-vs-interest split update instantly.
Your loan amount, interest rate, tenure, credit score and the type of interest rate (fixed or floating) all influence your EMI.
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