Oriental Bank of Commerce Personal Loan EMI Calculator Feb 2023

Oriental Bank of Commerce Personal Loan EMI Calculator


  • EMI Calculator - A Guide to Plan Your Repayment
  • Personal Loan EMI Calculator Available Online

About Oriental Bank of Commerce Personal Loan EMI Calculator

Busy mulling the cost of Oriental Bank of Commerce Personal Loan? Start using the EMI Calculator that can show the summary of repayment ahead. Taking a note of the findings, you can plan your personal loan journey with Oriental Bank of Commerce (OB) perfectly by making a few adjustments in your overall spends, month-on-month.

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

What is EMI?

The equated monthly installments (EMIs) combine portions of both principal and interest payable towards a personal loan each month. Use the EMI calculator to get an idea of the indicative installments as well as the interest outgo over 5 years, the maximum time given to repay a personal loan at OBC. You just need to input loan amount, the rate of interest and tenure in the calculator, available online, to compute the same.

What is the Formula to Calculate Personal Loan EMI?

The calculator takes into account the following formula to compute the EMI.

E = P x R x (1+R)^N/((1+R)^N – 1)

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

You may like to take the help of an example to understand the functioning of EMI Calculator. Keeping that in mind, an example is shown right below.

Example – Ravi Chaturvedi, a 32-year old sales manager in an advertising firm, applied for a 5-year personal loan worth ₹6 lakh for the marriage of his younger brother. The interest rate charged in his case was 11.65%. In that case, what will be the EMI and interest? Check that out in the table below.

Table Showing EMI, Interest Outgo, and Total Repayment Amount

Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
₹ 6,00,00011.65%1₹ 53,211₹ 38,533₹ 6,38,533
₹ 6,00,00011.65%2₹ 28,146₹ 75,507₹ 6,75,507
₹ 6,00,00011.65%3₹ 19,828₹ 1,13,824₹ 7,13,824
₹ 6,00,00011.65%4₹ 15,697₹ 1,53,475₹ 7,53,475
₹ 6,00,00011.65%5₹ 13,241₹ 1,94,447₹ 7,94,447

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

YearPrincipalInterestBalance Amount
1₹ 93,898₹ 64,991₹ 5,06,101
2₹ 1,05,440₹ 53,449₹ 4,00,660
3₹ 1,18,402₹ 40,487₹ 2,82,258
4₹ 1,32,957₹ 25,932₹ 1,49,301
5₹ 1,49,428₹ 9588₹ 0

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