IDFC First Bank Personal Loan EMI Calculator

Highlights

  • Know your payments in advance with IDFC First Bank Personal Loan EMI Calculator.
  • Choose suitable tenure for your loan & EMI.

You would hardly find anyone who does not use a loan calculator before availing the loan. If you apply for a personal loan at IDFC First Bank, you would definitely expect the lowest possible EMI so that you can manage your other finances smoothly. In this article, you may find below the example wherein the details are based on the default values. You can change the values as per your query to know your EMI and other interest-related payments.

Apply IDFC First Personal Loan @ 10.49%* Rate

EMI Calculator for Personal Loan
Loan Amount (₹)
Interest Rate (%)
Tenure (Month)
Results
Loan Amount
Interest Rate
Tenure(Months)
Monthly Instalment (EMI)
Total Interest Amount
Total Amount (Principal + Interest)
YearPrincipalInterestBalance Amount

IDFC First Bank Personal Loan EMI Calculator

As mentioned above, a loan EMI calculator is the most convenient way to check your EMIs. It takes into account the basic details such as the loan amount, rate of interest and tenure. Based on these, it shows the EMI, total interest outgo and total amount that you have to pay for the personal loan.

What is the EMI of 7 lakh personal loan in IDFC First Bank?

The EMI for an INR 7 lacs. IDFC First Bank personal loan depends on the interest rate and loan tenure. Below is a table with the EMIs for 3 years and 5 years at the minimum and maximum Rate of Interest charged by the bank:

Loan AmountROI 10.49% (3 Years EMI)ROI 10.49% (5 Years EMI)ROI 21.99% (3 Years EMI)ROI 21.99% (5 Years EMI)
INR 5 LacINR 16,249 p.mINR 10,744 p.m.INR 19,093 p.m.INR 13,807 p.m.
INR 6 LacINR 19,499 p.m.INR 12,893 p.m.INR 22,911 p.m.INR 16,568 p.m.
INR 7 LacINR 22,748 p.m.INR 15,042 p.m.INR 26,730 p.m.INR 19,329 p.m.

What is the monthly EMI for 10 lakhs idfc first Bank personal loan?

Below is a table displaying the EMI on INR 10 Lac. personal loan. The EMIs are calculated on the minimum and the maximum rate of interest charged by the bank for 3 and 5 years respectively.

Loan AmountROI 10.49% (3 Years EMI)ROI 10.49% (5 Years EMI)ROI 21.99% (3 Years EMI)ROI 21.99% (5 Years EMI)
INR 8 LakhsINR 25,998 p.m.INR 17,191 p.m.INR 30,548 p.m.INR 22,091 p.m
INR 9 LakhsINR 29,248 p.m.INR 19,340 p.m.INR 34,367 p.m.INR 24,852 p.m
INR 10 LakhsINR 32,498 p.m.INR 21,489 p.m.INR 38,185 p.m.INR 27,613 p.m.

How much EMI would you pay on the loan?

Suppose, you want to take a personal loan worth ₹4 lakhs for 4 years. You are expecting the lowest rate of interest which, at IDFC First Bank, is 12% per annum. The EMI you will then have to pay would be as follows:

Table Showing EMI, Interest Outgo, and Total Repayment Amount

Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
₹ 4,00,00015%1₹ 36,103₹ 33,240₹ 4,33,240
₹ 4,00,00015%2₹ 19,395₹ 65,472₹ 4,65,472
₹ 4,00,00015%3₹ 13,866₹ 99,181₹ 4,99,181
₹ 4,00,00015%4₹ 11,132₹ 1,34,350₹ 5,34,350

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

YearPrincipalInterestBalance Amount
1₹ 78,863₹ 54,724₹ 3,21,136
2₹ 91,541₹ 42,046₹ 2,29,595
3₹ 1,06,256₹ 27,331₹ 1,23,338
4₹ 1,23,475₹ 10,249₹ 0

IDFC First Bank Personal Loan EMI Calculator FAQs

1. How is IDFC First Bank Personal loan EMI calculated?

IDFC First Bank calculates the loan EMI based on your loan amount, repayment tenure, and interest rate. You can use a personal loan EMI calculator to calculate your personal loan EMI.

4. How can I pay IDFC First bank Loan EMI?

You can choose any one of the following three options to pay your IDFC First Bank Loan EMI:
– Online Repayment Through Net Banking / Debit Card / Paytm Wallet or UPI.
– Head over to your nearest IDFC FIRST Bank Branch. Or
– Walk into the Nearest Novopay retailer.

5. What is the lowest EMI offered by IDFC First Bank on Personal loan?

The lowest possible EMI offered by IDFC First Bank is INR 8,814 per month on a personal loan of INR 1 lakh for a tenure of 1 year at 10.49% p.a. interest rate.

6. What is the formula to calculate Personal loan EMI?

The formula to calculate personal loan EMI is:
P x R x (1+R)^N] / [(1+R)^N-1]
where,
P= Principal or your loan amount
R= Rate of interest
N= Tenure (loan term in number of years)
A personal loan EMI calculator also uses the above formula to calculate personal loan EMI.

7. What factors affect IDFC first Bank Personal Loan EMI?

IDFC First Bank personal loan EMI is highly influenced by numerous factors like the applicant’s income, repayment capacity as well as the CIBIL score of the borrower.

8. What is the best way to calculate EMI for IDFC First Bank Loan?

The best way to calculate IDFC First Bank personal loan EMI is by using a personal loan EMI calculator. You just need to enter the loan amount along with the rate of interest and your loan tenure to calculate the EMI.

People Also Look For


  • Personal Loan Interest Rates May 2022
    Fullerton India14.00% - 24.00%
    HDFC Bank10.25% - 17.00%
    ICICI Bank10.50% - 17.50%
    IndusInd Bank11.00% - 23.00%
    Kotak Bank10.75%
    RBL17.50% - 26.00%
    Standard Chartered Bank11.00% - 12.50%
    Tata Capital10.49% - 14.25%