# Kotak Mahindra Bank Personal Loan EMI Calculator

Now knowing your EMIs, Interest Outgo and Total Amount Payable is no more a hassle, as Kotak Mahindra Bank Personal Loan EMI Calculator is here to help. That’s Right! This smart and effective tool with its simple algorithm allows you to know the exact calculations of your EMIs, Interest Outgo and Total Amount Payable in the best way. You just need to enter:

• Interest Rate
• Tenure
• Loan Amount

After feeding these credentials, the device will fetch the results for you within few seconds, helping you in enjoying a hassle-free loan journey.

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

## Kotak Mahindra Bank Personal Loan EMI Calculator

To make you understand better, let’s just take the help from an example below:

Suppose, Rajat Sharma, a 30-year-old, SEO Manager by profession wants to avail a personal loan of ₹5 Lakh to travel to Singapore with his family. The lender has agreed to offer him the amount at an interest rate of 10.99% for a tenure of 5 years. But saying yes to the lender, Rajat wants to know whether the EMIs would be pocket-friendly for him to pay or not. So, he used an EMI Calculator, and the calculations of his EMIs, Interest Outgo and Total Amount Payable are:

Table Showing EMI, Interest Outgo, and Total Repayment Amount

Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
₹ 5,00,00010.99%1₹ 44,188₹ 30,262₹ 5,30,262
₹ 5,00,00010.99%2₹ 23,302₹ 59,238₹ 5,59,238
₹ 5,00,00010.99%3₹ 16,367₹ 89,212₹ 5,89,212
₹ 5,00,00010.99%4₹ 12,920₹ 1,20,176₹ 6,20,176
₹ 5,00,00010.99%5₹ 10,869₹ 1,52,123₹ 6,52,123

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

YearPrincipalInterestBalance Amount
1₹ 79,394₹ 51,030₹ 4,20,605
2₹ 88,573₹ 41,851₹ 3,32,031
3₹ 98,813₹ 31,611₹ 2,33,218
4₹ 1,10,237₹ 20,188₹ 1,22,981
5₹ 1,23,079₹ 7443₹ 0

### Kotak Mahindra Bank EMI Calculation Formula

To calculate the EMI, an EMI Calculator uses the below formula:

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
where,
EMI = Equated Monthly Installment
P = Principal Loan Amount
R = Monthly Interest Rate
N = Number of Monthly Installments

### 1. How is Kotak Mahindra Bank Personal loan EMI calculated?

Kotak Mahindra Bank calculates your personal loan EMI by taking into consideration factors like your loan amount, loan repayment tenure, and interest rate. Moreover, you can use a personal loan EMI calculator to calculate your EMI amounts.

### 2. How can I pay Kotak Mahindra Bank Loan EMI?

You can pay your Kotak Mahindra Bank personal loan EMI online through any account. Using the online payment facility you can use your bank account to pay your loan EMI.

### 3. What is the lowest EMI offered by Kotak Mahindra on Personal loan?

You can get the lowest EMI on a personal loan by borrowing the minimum amount at the longest possible loan tenure. In this case the lowest EMI is INR 1,067 on a loan of INR 50,000 at an interest rate of 10.25% p.a.

### 4. What is the formula to calculate Personal loan EMI?

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)
The same formula is used by Kotak Mahindra Bank’s personal loan EMI calculator to provide accurate results.

### 5. What factor affects Kotak Mahindra Bank Personal Loan EMI?

Factors such as the applicant’s monthly income, his repayment capacity, CIBIL score along with various other factors affect the EMI of a Kotak Mahindra Bank personal loan.

### 6. What is the best way to calculate EMI for a Kotak Mahindra Bank Loan?

The quick and easy way to calculate your Kotak Mahindra Bank personal loan EMI is by using their personal loan EMI calculator. Just head over to the bank’s official website and enter the basic details of your loan to calculate the EMI.

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