# Oriental Bank of Commerce Personal Loan EMI Calculator

₹ 50,000 ₹ 10,00,00,000
1.00 % 50.00 %
12 Months 50 years
RESULTS
Loan Amount ₹ 2,50,000
Interest Rate 10.99%%
Tenure(Months) 224
Monthly Instalment (EMI) ₹ 2,631
Total Interest Amount ₹ 3,39,334
Total Amount (Principal + Interest) ₹ 5,89,334
• 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.

### 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 . R . (1+R)^N/((1+R)^N – 1),

Where E=EMI
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 AMOUNT INTEREST RATE TENURE MONTHLY INSTALMENT TOTAL INTEREST AMOUNT TOTAL AMOUNT
₹ 6,00,000 11.65% 1 ₹ 53,211 ₹ 38,533 ₹ 6,38,533
₹ 6,00,000 11.65% 2 ₹ 28,146 ₹ 75,507 ₹ 6,75,507
₹ 6,00,000 11.65% 3 ₹ 19,828 ₹ 1,13,824 ₹ 7,13,824
₹ 6,00,000 11.65% 4 ₹ 15,697 ₹ 1,53,475 ₹ 7,53,475
₹ 6,00,000 11.65% 5 ₹ 13,241 ₹ 1,94,447 ₹ 7,94,447

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

YEAR PRINCIPAL INTEREST BALANCE 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