All set to apply for a Punjab and Sind Bank Personal Loan? Interest rates tested, YES! But have you tested the results of the Punjab and Sind Bank Personal Loan EMI Calculator? Nah! -Nah! Then, do it soon to get a rundown in advance of the repayment. This will assist you in carefully monitoring your expenses to ensure a smooth repayment of a loan before the tenure expires. Let's talk about the task of calculating in detail.

What's a Personal Loan EMI?

The addition of interest and the principal amount per month before the expiry of the term is the EMI payable on a personal loan. Let us notify you without further delay that the EMI calculator takes the amount of loan, interest rate, and tenure into account to calculate the indicative installments and the total interest production.

The formula of EMI Calculation

There is also a formula that is used by the calculator to measure the increments. Do you want to know? Take a look below then.

E = P . R . (1+R)^N/((1+R)^N-1)


  • E = EMI
  • P = Principal Amount
  • R = Rate of Interest 
  • N = Monthly Tenure 

Here is an example to help you for having a better understanding of how an EMI calculator works. 

For ex, at Punjab and Sind Bank, Raj Mehta, a senior software engineer, is applying for 5-year personal loan worth Rs. 2 lakhs. The government lender approved his application and paid him a loan at an interest rate of 13.65 percent. But how much is EMI Ravi paid to pay?

There is an answer to the table below. Take a peek.

EMI, Interest Outgo, and Complete Repayment Sum Table Indicate







₹ 2,00,000



₹ 17,925

₹ 15,094

₹ 2,15,094

₹ 2,00,000



₹ 9570

₹ 29,669

₹ 2,29,669

₹ 2,00,000



₹ 6802

₹ 44,857

₹ 2,44,857

₹ 2,00,000



₹ 5430

₹ 60,652

₹ 2,60,652

₹ 2,00,000



₹ 4617

₹ 77,046

₹ 2,77,046

EMI, Total Interest Outgo, Total Repayment (Interest + Principal) 






₹ 29,936

₹ 25,473

₹ 1,70,063


₹ 34,288

₹ 21,121

₹ 1,35,775


₹ 39,272

₹ 16,137

₹ 96,502


₹ 44,981

₹ 10,427

₹ 51,520


₹ 51,572

₹ 3888

₹ 0


Benefits of using Punjab and Sind Bank Personal Loan EMI Calculator

The EMI calculator calculates your EMI loan and has several benefits listed below—

  • Saves time for tedious calculations: The EMI calculator helps the borrower save time by calculating EMI in seconds by doing tedious calculations, as you get the output the moment you enter the details of the personal loan.
  • Gives precise results: An online calculator will give you precise results, as incorrect calculations can lead to incorrect results that can change your loan EMI and change your decision while taking a loan. It is therefore always recommended to use the online EMI calculator to get accurate results.
  • Plan your finances: The personal loan calculator informs you about the EMI to be paid over the tenure of the loan and also tells you whether or not you will be able to repay the loan. In case you make defaults in loan payments when paying loan EMIs, always go an amount that does not impact your budget, current financial health, and your credit score.
  • Allows several schedules to be assessed: The EMI calculator also allows you to view amortization schedules and EMIs for different loan tenure and interest rate combinations. So, you can pick the EMIs that fit your repayment capabilities.

How to get loan EMI on a Personal Loan?

Personal loans allow us to achieve many financial and life objectives. In a matter of hours, most banks disburse different sorts of loans. What is more, in repaying the loan, the borrower has a fair amount of power and flexibility. You can select your tenure and loan sum as a borrower and change your Equated Monthly Instalments (EMIs) accordingly.

If you are looking to get a higher loan amount at a lower EMI, consider these handy tips.

  • Opt for a longer loan repayment tenure: Your loan repayment tenure is inversely proportional to your loan's EMI amount. Opting for longer repayment periods enables you to disburse the total due amount over a longer period, reducing the amount of the EMI. It is important to understand, that your longer loan tenure includes affordable, tiny EMIs, it also increases the interest rate payable on the loan. Only if you believe that you cannot afford higher EMIs should you opt for longer repayment tenures.
  • Choose to pay a higher down payment amount: Down payment refers to the customer's amount paid when purchasing a loan item. Typically, most banks offer 85 percent-90 percent of the actual price of the product taken on loan, while the customer must bear the remaining 10 percent-15 percent and pay it as a down payment. However, you can opt to pay a higher down payment amount and decrease the total amount taken as a loan. Remember that on the principal amount you borrow, you only have to pay interest. A higher loan amount can result in higher interest and higher EMIs being paid by you. Paying a large down payment can also help lower the EMIs and lower the interest rates.
  • Opt for a lower interest rate: One of the most important factors affecting the disbursed principal loan and the tenure of the loan is the interest rate. When you choose a lower interest rate, you choose a shorter tenure, too. By paying off high EMIs, if you believe that you can repay the loan faster, then you can opt for a lower tenured loan. A loan received at a lower interest rate allows you to pay off your debt more quickly.
  • Opt for balance transfer: You can choose to refinance if you have a high-cost loan by taking out a lower-cost loan. This is known as a loan for a balance transfer, which generally comes with a lower interest rate. You can also take out a top-up loan on your loan for a large amount. 
  • When taking a loan, consider your current bank: Borrowing from a bank with which you have an existing relationship can work in your favor, as you can negotiate the terms of the loan. You may be able to obtain lower interest rates on the amount of your loan if you have a good working relationship with your bank.

How does an EMI calculator work on a personal loan?

The combination of the loan amount, loan tenure, and interest rate is used by the Personal Loan EMI Calculator to calculate EMI online. In addition to this, it also tells you how much interest you will pay over your loan period. The longer the tenure of the loan, the greater the amount of interest payable for the same amount of the loan and the personal loan interest rate.


Q1What is a personal loan EMI?
EMI stands for Equated Monthly Installment which is the amount lent against the borrowed amount by you to the lender. EMI comprises the key component and the interest component of the personal loan. You may use the online EMI calculator to measure EMI.
Q2What is an EMI personal loan for Rs. 3 lakhs?
At an interest rate of 10.40 percent for 5 years, the personal loan EMI for Rs.3 Lakhs offered will be Rs.37,693.
Q3How my personal loan EMI can be reduced?
By opting for prepayment of the personal loan, you will lower your loan EMI. You will then pay a percentage of the principal amount lent before the repayment dues, saving the amount from interest payments. The higher the prepayment is; the lower the balance remaining is.
Q4How is the interest rate for a personal loan calculated?
The formula (P x I) x ((1 + r)n)/ (t x ((1 + r)n)- 1) is used to calculate the personal loan interest rate. Here, P is the principal sum, n is the number of monthly payments, r is the interest rate for the month, and t is the number of months per year.
Q5May I use a credit card to pay for my personal loan EMI?
Yeah, you can use a credit card to pay for your EMI on personal loan. This is because it is a better way of handling expenditures to use a cheaper loan to pay off an existing loan. However, ensure that paying off EMI loans with a credit card would not otherwise cost you.
Q6How is personal loan interest assessed every month?
A simple formula, (P x I) x ((1 + r)n)/ (t x ((1 + r)n)- 1) is used to calculate the personal loan interest rate monthly. You can use a personal loan interest rate calculator available on different online sites, such as Afinoz, for hassle-free operation.
Q7 How much should I pay EMI on a monthly basis?
EMI relies on your revenue and expenses monthly. Banks typically advise you to limit your EMI to 35% to 45% of your net income to pay your EMI without any pressure or difficulty. Online, you can measure your EMI, which will help you understand your repayment power.
Q8What if I get a delay in the payment of the EMI personal loan?
Banks pay a penalty for delaying payment to EMI. The penalty amount varies from bank to bank.
Q9Why does EMI need to be measured beforehand?
To sustain consistency in future payments, it is necessary to measure your EMI in advance. You pledge the bank to pay a fixed sum on a fixed date every month when you take advantage of a loan. So, to prevent any inconsistencies in potential payments, you should consider the consistency of your wages, monthly expenditures, and current loan commitments before using the loan.
Q10Does the tenure of the loan affect my personal loan EMI?
For a maximum term of 5 years, personal loans can be used. Your monthly EMI is influenced by tenure. The longer the personal loan term, the lower your EMI will be.
Q11How can personal loan EMI be measured through Afinoz?
The Afinoz EMI calculator calculates the EMIs of various banks according to your details. You can compare the EMIs easily and opt for a better alternative. You also get to hear about the interest paid on the sum of the chosen loan.