BOB Bank Personal Loan EMI Calculator

What is a Personal Loan EMI Calculator? 

A Personal Loan EMI Calculator is an online tool that helps you calculate your Equated Monthly Instalment (EMI) based on:

• The loan amount you want

• The interest rate

• The repayment period (tenure)

It instantly shows you:

• Your monthly EMI

• The total interest payable

• The total amount to be repaid

 

How Does the BOB Bank Personal Loan EMI Calculator Work? 

The BOB EMI Calculator uses a fixed mathematical formula to calculate your EMI. You only need to enter three values:

1. Loan Amount (e.g., ₹2,00,000)

2. Tenure (e.g., 36 months)

3. Interest Rate (e.g., 11.5% per annum)

Once entered, the calculator shows:

• Your monthly EMI

• The total interest

• The total repayment amount

EMI Calculation Formula 

The EMI is calculated using the following formula:

EMI=P×R×(1+R)N(1+R)N−1\text{EMI} = \frac{P \times R \times (1 + R)^N}{(1 + R)^N - 1}EMI=(1+R)N−1P×R×(1+R)N​

Where:

• P = Principal Loan Amount

• R = Monthly Interest Rate (Annual rate ÷ 12 ÷ 100)

• N = Tenure in Months

Don’t worry—this formula is applied automatically in the calculator to give you instant results.

Amortisation Schedule

An amortisation schedule shows how your loan gets repaid over time. It includes:

• EMI for each month

• Portion going to interest

• Portion going to principal

• Remaining loan balance after each payment

In the early months, a larger portion of your EMI goes toward interest. Later, more of your EMI reduces the principal.

How to Use the BOB Bank Personal Loan EMI Calculator

Follow these simple steps:

1. Visit the official Bank of Baroda website

2. Go to the Loans or Tools & Calculators section

3. Click on the Personal Loan EMI Calculator

4. Enter:

   • Loan Amount

   • Tenure (in months/years)

   • Interest Rate

5. Click “Calculate”

Within seconds, you’ll see:

• Monthly EMI

• Total interest payable

• Total repayment amount

You can change the inputs to compare different scenarios and find what suits your budget best.

Why Use the BOB Bank Personal Loan EMI Calculator?

Using this calculator before applying offers many advantages:

• Quick Estimates – Know your EMI in seconds

• Better Budgeting – Understand if the loan is affordable

• Loan Planning – Choose the right tenure and amount

• Avoid Surprises – Be aware of the total interest payable

• Compare Options – See how different combinations affect EMI

Benefits of Using a Personal Loan EMI Calculator

Benefit	What It Helps With
Budget Clarity	See if EMI fits your income
Smart Borrowing	Avoid taking on too much debt
Flexibility	Compare different loan amounts and tenures
Instant Results	No manual calculations needed
Transparency	Know your repayment schedule in advance

 

Explore Other Useful Loan Calculators

Bank of Baroda also offers calculators for different types of loans:

• Home Loan EMI Calculator

• Car Loan EMI Calculator

• Education Loan EMI Calculator

• Business Loan Calculator

• Loan Against Property EMI Calculator

These calculators help you plan and compare repayment options across different loan types.

Other Financial Tools You May Find Helpful

Apart from loan calculators, BOB offers several financial planning tools:

• FD Calculator – Calculate maturity value of fixed deposits

• RD Calculator – Plan your recurring deposits

• SIP Calculator – Plan your mutual fund investments

• Income Tax Calculator – Estimate your tax liability

• Loan Eligibility Calculator – Check how much loan you can get