# Why use SBI Personal Loan EMI Calculator?

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SBI Personal Loan EMI Calculator is an online financial tool which provides EMI amount that you need to pay during the loan repayment tenure. Before applying for SBI Personal Loan, you can use SBI Personal Loan EMI Calculator to get an idea of the EMI amount that you need to pay every month. You need to input the details like the loan amount, interest rate and loan tenure for using SBI Bank Personal Loan EMI Calculator. In case the EMI amount exceeds your monthly budget, you can for lower loan amount when using SBI Personal Loan EMI Calculator. To get the complete details of EMI amount that you need to repay within the loan tenure and you can go for SBI Personal Loan EMI Calculator for 5 years. Along with the EMI amount, you also get a clear idea on the interest outgo and the principal amount when using SBI Personal Loan EMI Calculator. So, you can avail the loan amount which you can easily repay by calculating the EMI beforehand through SBI Personal Loan EMI Calculator. Also, SBI Personal Loan EMI Calculator 2019 is an online financial tool which you can access anywhere at any point of time without spending a single penny from your pocket.

## SBI Personal Loan EMI Calculator 2019- EMI Calculation

In order to calculate EMI using SBI Personal Loan EMI Calculator, a very simple formula is used-

EMI= [P*r*(1+r)^n]/[{(1+r)^n-1}]

Where,

‘EMI’ – Equated Monthly Instalments

‘P’- Principal Loan Amount

‘r’- Interest Rate charged

‘n’- Loan tenure in months

 Amount of Loan Loan Tenure Rate Of Interest EMI Interest Amount Rs. 1 lakh 5 years 12% Rs. 2224 Rs. 33,467 Rs. 1 lakh 4 years 12% Rs. 2633 Rs. 26,402 Rs. 1 lakh 3 years 12% Rs.3321 Rs. 19572 Rs. 1 lakh 2 years 12% Rs. 4707 Rs. 12976 Rs. 1 lakh 1 year 12% Rs. 8885 Rs. 6619

## Benefits of SBI Personal Loan EMI Calculator

• SBI Personal Loan EMI Calculator saves you from complex calculation of EMI. With SBI Personal Loan EMI Calculator, you get the EMI amount details with just a few clicks.
• You can input different combinations of loan amount and tenure while using SBI Personal Loan EMI Calculator. So, you get an idea of the loan amount which suits your repayment capacity.
• With SBI Personal Loan EMI Calculator, you can save a lot of time. Instead of calculating EMI manually, you can input the necessary details and get the EMI amount via SBI Personal Loan EMI Calculator.
• SBI Personal Loan EMI Calculator 2019 offers error-free EMI calculation which you need to repay during the loan tenure.
• Using SBI Personal Loan EMI Calculator, you can easily plan your monthly budget. You can keep the EMI amount aside every month and plan your budget efficiently using SBI Bank Personal Loan EMI Calculator.

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