Karnataka Bank Personal Loan EMI Calculator

₹ 50k ₹ 50L
6.0% 30.0%
6 months 30 years
Principal Amount
Interest Amount

Monthly EMI


Principal Amount


Interest Amount


Tenure (Month)

18 months

Total Amount


Your Amortization Details (Yearly/Monthly)


Month Principal Paid Interest Charged Total Payment Balance
Aug ₹3,942.44 ₹500.00 ₹4,442.44 ₹46,057.56
Sept ₹3,981.86 ₹460.58 ₹4,442.44 ₹42,075.70
Oct ₹4,021.68 ₹420.76 ₹4,442.44 ₹38,054.01
Nov ₹4,061.90 ₹380.54 ₹4,442.44 ₹33,992.11
Dec ₹4,102.52 ₹339.92 ₹4,442.44 ₹29,889.60


Karnataka Bank Loan Calculator Tool


  • Calculate EMI & Interest via EMI Calculator

What is the first thing that comes to your mind while applying for a personal loan? Without a doubt, it would be EMI, right? Since you pay the same month-on-month over the entire loan tenure, which can be a maximum of 5 years at Karnataka Bank, its consideration is very important to get an idea of the budgeting you need to make while servicing the debt.

So, when you learn about a device that can help calculate the EMI, the hassle of manually calculating the installments will be gone right away. Without much ado, let’s study the calculator's function as we move along.

What is EMI?

EMI is nothing but a combined sum of interest and principal amount payable on a loan. You can use the EMI calculator to compute the indicative installments. The calculator will take into account the following factors to calculate the installments.

  • Loan Amount
  • Interest Rate
  • Loan Tenure

An ideal EMI must not constitute more than 20% -30% of your net monthly income. Keeping the EMI in the said range would help you in repaying the loan smoothly without having to rejig much in your day-to-day budget.

Formula to Calculate Karnataka Bank Personal Loan EMI

You can even take the help of the below formula to calculate the EMI, which stands for equated monthly installment.

E=P . R . (1+R)^N/((1+R)^N – 1),

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

Suppose the principal loan amount is ₹3 lakh at an interest rate of 12.5% and a tenure of 5 years. The EMI calculation would be structured as follows:

Principal Amount (P): ₹3,00,000

Interest Rate (R): 12.5% per annum (which is 12.5/12/100 = 0.0104 per month)

Loan Tenure (n): 5 years, or 60 months

Here’s how to calculate it:

[3,00,000 x 0.0104 x (1 + 0.0104) ^ 60]/[(1+0.0104) ^60 -1] = 6749.38

The EMIs you would be required to pay is ₹6749.38

You may find it hard to compute the EMI using the complex mathematical formula, won’t you? So, it would be good to use an online calculator by Wishfin.

Karnataka Bank Personal Loan Amortisation Schedule

Here is the amortization schedule for the example provided above, to assist you further:

Year Principal Interest Total Payment Balance
2024 ₹ 22,321 ₹ 18,176 ₹ 40,496 ₹ 2,77,679
2025 ₹ 49,029 ₹ 31,964 ₹ 80,993 ₹ 2,28,651
2026 ₹ 55,521 ₹ 25,472 ₹ 80,993 ₹ 1,73,130
2027 ₹ 62,873 ₹ 18,120 ₹ 80,993 ₹ 1,10,258
2028 ₹ 71,198 ₹ 9,795 ₹ 80,993 ₹ 39,060
2029 ₹ 39,060 ₹ 1,436 ₹ 40,496 ₹ 0

How to Use Wishfin Karnataka Bank Personal Loan EMI Calculator?

The mathematical formula is a bit complex, so it's advisable to use an online personal EMI calculator, like the one offered by Wishfin.

Here’s how to use it:

  • On our EMI calculator page, adjust the slider or enter the loan details - loan amount, interest rate, and tenure.
  • Once you input the data, the calculator will process the details and display the EMIs, along with the total interest outgoing, total payment amount, etc.

Let’s understand the working of the EMI calculator through an example.

Example for Karnataka Bank Personal Loan EMI Calculation

Ankit Mehta applies for a personal loan of ₹3 lakh at Karnataka Bank at an interest rate of 12.50% for a period of 5 years. Let’s see how much EMI and interest he would be paying on the said loan.

Table Showing EMI, Interest Outgo, and Total Repayment Amount

₹ 3,00,000 12.50% 1 ₹ 26,725 ₹ 20,698 ₹ 3,20,698
₹ 3,00,000 12.50% 2 ₹ 14,192 ₹ 40,613 ₹ 3,40,613
₹ 3,00,000 12.50% 3 ₹ 10,036 ₹ 61,299 ₹ 3,61,299
₹ 3,00,000 12.50% 4 ₹ 7974 ₹ 82,752 ₹ 3,82,752
₹ 3,00,000 12.50% 5 ₹ 6749 ₹ 1,04,963 ₹ 4,04,963

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

1 ₹ 46,072 ₹ 34,920 ₹ 2,53,927
2 ₹ 52,173 ₹ 28,819 ₹ 2,01,753
3 ₹ 59,082 ₹ 21,910 ₹ 1,42,670
4 ₹ 66,905 ₹ 14,087 ₹ 75,765
5 ₹ 75,834 ₹ 5227 ₹ 0

The Lowest EMI Offered by Karnataka Bank on Personal Loans

Here are the monthly payments for various loan amounts from Karnataka Bank Personal Loans, calculated at interest rates of 13% and 13.49% per year, spread over five years.

Interest Rate of 13%

Interest Rate of 13.49%

1 lakh loan amount - ₹2,275.31 p.m.

1 lakh loan amount -  ₹23,00.47 p.m.

3 lakh loan amount - ₹6,825.92 p.m.

3 lakh loan amount -  ₹6,901.41 p.m.

5 lakh loan amount - ₹11,376.54 p.m.

5 lakh loan amount -  ₹11,502.35 p.m.

7 lakh loan amount - ₹15,927.15 p.m.

7 lakh loan amount - ₹16,103.29 p.m.

9 lakh loan amount - ₹20,477.77 p.m.

9 lakh loan amount -  ₹20,704.23 p.m.

Why Should You Use Karnataka Bank Personal Loan EMI Calculator?

Here are a few reasons why you should use personal loan EMI calculator:

  1. Quick Access to Loan Details : Instantly understand your loan obligations with a few clicks. This helps you gauge monthly installments without confusion.
  2. Better Financial Preparedness : Get a clear view of your monthly expenses for effective budgeting and financial stability while repaying the loan.
  3. Saves Time and Effort : Skip the complex manual calculations and get precise EMI figures instantly, making your loan planning process smoother and faster.
  4. Customizable Scenarios : Try different loan terms, interest rates, and amounts. See how each change affects your monthly payments. This helps you make decisions that fit your financial needs.
  5. Enhanced Decision-Making : With precise EMI data at your fingertips, you can make better-informed decisions about how much to borrow and the repayment schedule that suits you best.

Eligibility Criteria to Apply for Karnataka Bank Personal Loan

If you're considering a personal loan from Karnataka Bank, here are the eligibility requirements you need to meet:

  • You must be an Indian resident employed in either the government or private sector, with a minimum of 6 months of work experience.
  • Applicants must be at least 21 years old.
  • You should not have any existing unsecured personal loans from Karnataka Bank.
  • Additionally, when assessing your eligibility for a personal loan, the bank will consider your credit score, minimum income, and ability to repay the loan.

Factors that Affect Karnataka Bank Personal Loan EMI

Here are the main things that change how much you pay each month for a personal loan from Karnataka Bank:

  • How Much You Borrow : The more you borrow, the higher your monthly payment will be because there's more to pay back.
  • Interest Rate : This is really important. If the interest rate is high, you'll pay more every month. This rate changes based on your credit score and what's going on in the market.
  • How Long You Have to Pay It Back : If you choose to pay back the loan over a longer period, each payment will be smaller. If you pay it back quickly, each payment will be bigger, but you'll pay less interest in total.
  • Your Credit Score : If you have a good credit score, you can get lower interest rates, which means lower monthly payments.
  • Your Income : The more money you make, the better loan terms you might get. This could mean lower monthly payments.
  • Other Debts : If you already have a lot of debts, you might get higher interest rates on your new loan, which would increase your monthly payments.
  • Type of Interest Rate : If the interest rate is fixed, your payment stays the same the whole time you're paying back the loan. If it's variable, the amount could change based on how interest rates move in the market.

Karnataka Bank Personal Loan Fees and Charges

Here are the fees and charges related to Karnataka Bank personal loan:

Fee Type


Processing Charges

For a loan amount of up to ₹1 lakh: Rs 2,500

For loan amounts above ₹1 lakh: 2% of the loan amount, subject to a minimum of Rs 2,500 and a maximum of Rs 8,500

Limitations of Using Karnataka Bank Personal Loan EMI Calculator

Let's explore the key drawbacks of using an online calculator to determine your loan repayments:

  • Doesn't Include Additional Costs: The calculator often overlooks extra fees like processing fees, late fees, or charges for paying off the loan early, all of which can significantly alter the total repayment amount.
  • Fixed Rate Assumptions: It generally uses a constant interest rate for its calculations. This doesn't reflect the reality of fluctuating rates that can change the actual monthly payments.
  • Ignores Credit Score: The tool doesn’t consider your credit score, which is key in determining the interest rate you actually get. Different credit scores can lead to higher or lower rates than the calculator assumes.
  • Limited Customization: The calculator might not offer the ability to adjust for various payment plans or specific loan options that might be available to you.
  • Basic Estimates Over Detailed Analysis: While user-friendly, the calculator only gives a basic estimate and lacks comprehensive details that might affect your repayment schedule.
  • Eligibility Not Considered: It does not take into account whether you qualify for the loan based on factors like your income, job security, or other debts, which are critical for actual loan approval and conditions.

Frequently Asked Questions (FAQs)

How is the EMI for Karnataka Bank’s personal loan determined?

What are the options for paying my Karnataka Bank loan EMI?

Can you explain the formula used to calculate the personal loan EMI for Karnataka Bank?

What factors influence the EMI for Karnataka Bank’s personal loan?

What is the best method to calculate the EMI for a Karnataka Bank loan?