How A Personal Loan EMI Calculator Can Be Helpful To You?

Borrowers may get a PNB personal loan ranging from Rs. 25,000 to Rs. 15 lakhs to cover a variety of financial needs such as medical bills, home renovations, and so on. The interest rate on a personal loan from Punjab National Bank begins at 8.95 percent per annum. The PNB personal loan EMI calculator allows you to measure loan EMIs even before you apply for a loan, which will help you better control your finances. Continue reading to learn more about how the PNB personal loan EMI calculator works, the EMI calculation formula, key factors influencing personal loan EMI, and more.  

Personal Loans from Punjab National Bank Functions of the EMI Calculator 

The Equated Monthly Installment (or EMI) is the monthly payment that a borrower must make to a lender (bank/NBFC) to repay a loan. You can use Punjab National Bank’s personal loan EMI calculator to estimate the cost of a personal loan before applying for one, allowing you to better control your finances. You can also calculate your loan EMIs for free using a personal loan EMI calculator. 

The EMI calculator needs the following three parameters to function: 

  • The loan amount borrowed as PNB personal loan. Generally, a higher number means higher EMI payments. PNB offers personal loans ranging from Rs. 25,000 to Rs. 15 lakhs to borrowers. 
  • The rate at which interest is paid on a loan is known as the interest rate. The interest rate on a PNB personal loan starts at 8.95 percent per annum. A higher interest rate usually translates to higher EMIs over the loan’s term. 
  • Loan tenure refers to the amount of time you have to repay the loan. Personal loans from PNB have repayment terms ranging from 12 to 84 months. Shorter repayment terms usually mean higher EMI payments.  

Loan principal, interest rate, and maturity are all important personal loan criteria that can be combined in various ways to find the best EMI for you.  

The formula for Calculating Personal Loan EMIs 

The formula used to measure personal loan EMIs is determined by the system used by the lender to calculate interest—either the flat rate method or the reducing balance method. The following are the two methods for calculating EMI: 

  • Flat Rate Method: By using the flat rate method of interest calculation, the EMI number remains constant during the loan’s term. This is because interest is measured on the total loan principal sum lent by the borrower using this form. As a result, the formula for EMI calculation using this method is EMI by Flat Rate Method = (Principal + Interest)/ Loan Tenure in months
  • The EMI sum decreases over the loan period as interest is measured using the reducing balance method since interest is levied only on the remaining loan principal amount (which decreases as the loan is paid off) rather than on the total loan amount lent initially. As a result, borrowers can save money on net interest by using the reducing balance approach to calculate interest. The formula for EMI calculation using this method is: EMI by Reducing Balance Method

[P x (R/100) x 1+(R/100)N]/[1+(R/100)(N-1)] 

in which, 

  • The availed loan amount is denoted by the letter P. 
  • R stands for the monthly interest rate, i.e., annual interest rate/12. 
  • The number N denotes the number of months it would take to repay the loan.

Personal Loan from Punjab National Bank Calculation of the EMI 

Using different combinations of loan number, tenure, and interest rate, the following is an example of an EMI calculation for a PNB personal loan: 

Loan Amount (Rs.)  Interest Rate (p.a.)  Tenure (months)  EMI (Rs. /month) 
1 lakh  11%  12  8,838 
2 lakhs  13%  36  6,739 
3 lakhs  17%  60  7,456 
4 lakhs  20%  48  12,172 
5 lakhs  15%  24  24,243 

How do I pay my EMI on a Punjab National Bank personal loan? 

PNB personal loan EMIs can be paid using the following methods: 

  • Facility for ECS (Electronic Clearance Service)
  • Cheques/Demand Drafts that have been post-dated and Net Banking

Personal Loan EMI at Punjab National Bank: Factors to Consider 

The following are some of the most important factors that influence PNB personal loan EMIs: 

  • Loan amount/loan principal: In general, as the loan sum grows, so does the EMI payment, and vice versa.
  • Interest calculation process: The interest calculation method has an effect on the EMIpay-outs. EMIs calculated using the decreasing balance method are slightly lower than EMIs calculated using the f method.
  • The term “loan maturity” refers to the length of time it would take to repay the loan. Higher EMI payments are normally associated with shorter repayment periods. However, it can lead to lower interest payments.


To conclude, availing of a PNB personal loan is simple and easy to manage. And the PNB personal loan EMI calculator works as the icing on the cake. As it helps you in planning the PNB personal loan more accurately and precisely.