IDFC Personal Loan Calculator

Financial needs can arise at any time and anywhere, and more often than not, individuals might require external financial assistance to face their obstacles. Various financial institutions are in place offering various loan schemes to tackle these monetary difficulties. Some prominent lenders include IDFC First bank, which has designed various products to help customers meet their monetary shortcomings. With products like IDFC personal loans, customers can now easily think through their expense planning and put an end to their various needs, such as financing a home renovation, medical emergencies, vehicle financing, and so on.

Consequently, borrowers can benefit from using AI-powered online tools such as a personal loan EMI calculator. The IDFC first bank personal calculator is an excellent tool to help individuals calculate their EMI requirements and decide whether or not the loan plan is affordable. This blog is an extensive guide on how one can use an IDFC personal loan calculator and the various benefits associated with the same.  

Why Should You Use IDFC Personal Loan EMI Calculator?

Using IDFC Personal Loan EMI Calculator can be fruitful for everyone regardless of the situation. With the IDFC personal loan EMI calculator, users will have clarity regarding their loan affordability by estimating the expense structure. Additionally, you get better job efficiency by saving time and effort. The AI-powered calculator is easy to use and the user can use it multiple times. 

Furthermore, the IDFC First Bank Personal Loan Calculator can be extremely helpful in making comparisons with various interest rates, tenure, and loan amount values. One can also make comparative cases among different financial institutions. Lastly, one is always at the risk of wrongly calculating when doing manual computations. With the online IDFC personal loan calculator, users can accurately depict their loan expenses.  

Benefits of Using IDFC Bank Personal Loan EMI Calculator 

There are several benefits of using the IDFC Bank personal loan EMI calculator. You get the following benefits when you count on the personal loan EMI Calculator:

• Easy and hassle-free computation of values. 
• Anytime and anywhere access
• Error-free calculation
• It avoids manual calculation, which is erroneous and utilizes time and energy. 
• Computes values in real-time.
• Assists users in making sound financial decisions pertaining to monetary management. 
• It gives clarity on whether a certain loan scheme is affordable or not.  

IDFC Bank Personal Loan EMI Calculator Formula & Example

EMIs are calculated based on the interest rate, loan tenure, and loan amount. For interest rates that are compounded, the computation becomes somewhat complex. Here is how one can calculate the EMI:

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

Here, 

• P stands for the principal borrowed amount, 
• R denotes the interest rate, 
• N denotes how many instalments there will be.

For example, suppose you are applying for a personal loan with the IDBI bank of INR 1 Lakh for an interest rate of 10 percent, for a tenure of 1 year. In that case, the IDBI personal loan EMI calculator will depict the following terms. 

Factors Affecting IDFC Personal Loan EMI

The interest rate, tenure of a loan, and deployed loan amount are some of the factors that directly affect the equated monthly instalment or EMI. However, certain aspects of the loan EMI can fluctuate and be taken at variable values. These include the interest rate compounding factor and the flexible interest rate option.  Majorly, the loan amount sanctioned is based on the borrower's age, credit value, and bank policies and indirectly affects the IDFC personal loan EMI. 

Comparison of IDFC Personal Loan EMI with other Banks

In the financial market, customers can choose from various lenders. Various options create a competitive advantage for the borrowers as banks compete against each other with the best service providable. With rates of interest varying for each bank, loan applicants can use IDFC personal loan EMI calculator to narrow down their search for the best possible financial service provider. Here is a list of banks with their personal loan interest rate offers. Users can use the online IDFC Personal Loan Calculator to calculate the EMI outcome.

Bank Name	Personal Loan Interest Rates
Axis Bank	13.70%
Bank of Baroda	8.50% onwards
Canara Bank	9.90%
HDFC Bank	11.57%
Kotak Mahindra Bank	11.5% to 24%
Punjab National Bank	10.45%
State Bank of India	10.50%
Avanse	10% to 16.50%
Credila	11.85% onwards
Allahabad Bank	9.20% onwards
Andhra Bank	10.80% onwards
Axis Bank	12% onwards
Bajaj Finserv	12.99% onwards
Bank of India	9.35% onwards
Bank of Maharashtra	9.70% onwards
CASHe	33% to 36%
Central Bank	8.45% onwards
Citibank	9.99% onwards
Early Salary	24% onwards
Federal Bank	11.49% onwards
Fullerton India	11.99% onwards
Home Credit	24% onwards

IDFC Bank Personal Loan Amortisation Calculator

IDFC personal loan EMI calculator can assist a user by clarifying the monthly payment structure. It could help the user make sound financial decisions, such as allocating funds for emergencies, meeting short-term goals, etc. Furthermore, an amortisation table can also help the borrower keep aside the expenses for EMI payments. Since IDFC keeps a minimum interest rate of 10.49%, we have presented the amortisation schedule with INR 10 Lakhs, INR 20 Lakhs, INR 25 Lakhs, INR 30 Lakhs, and INR 50 Lakhs. For these computations, the loan tenure is 60 months, i.e. five years. 

IDFC Bank Personal Loan EMI for ₹ 10 Lakh

Month	Principal (Rs.)	Interest (Rs.)	Principal + Interest (Rs.)	Balance to be Paid (Rs.)
1	12747	8742	21489	987253
2	12859	8630	21489	974394
3	12971	8518	21489	961423
4	13085	8404	21489	948338
5	13199	8290	21489	935139
6	13314	8175	21489	921825
7	13431	8058	21489	908395
8	13548	7941	21489	894846
9	13667	7822	21489	881180
10	13786	7703	21489	867394
11	13906	7582	21489	853488
12	14028	7461	21489	839459
13	14151	7338	21489	825309
14	14274	7215	21489	811034
15	14399	7090	21489	796635
16	14525	6964	21489	782110
17	14652	6837	21489	767458
18	14780	6709	21489	752678
19	14909	6580	21489	737769
20	15040	6449	21489	722729
21	15171	6318	21489	707558
22	15304	6185	21489	692254
23	15437	6051	21489	676817
24	15572	5917	21489	661245
25	15709	5780	21489	645536
26	15846	5643	21489	629690
27	15984	5505	21489	613706
28	16124	5365	21489	597581
29	16265	5224	21489	581316
30	16407	5082	21489	564909
31	16551	4938	21489	548358
32	16695	4794	21489	531663
33	16841	4648	21489	514822
34	16989	4500	21489	497833
35	17137	4352	21489	480696
36	17287	4202	21489	463409
37	17438	4051	21489	445971
38	17590	3899	21489	428381
39	17744	3745	21489	410637
40	17899	3590	21489	392737
41	18056	3433	21489	374682
42	18214	3275	21489	356468
43	18373	3116	21489	338095
44	18533	2956	21489	319562
45	18695	2794	21489	300866
46	18859	2630	21489	282007
47	19024	2465	21489	262984
48	19190	2299	21489	243794
49	19358	2131	21489	224436
50	19527	1962	21489	204909
51	19698	1791	21489	185211
52	19870	1619	21489	165341
53	20044	1445	21489	145298
54	20219	1270	21489	125079
55	20396	1093	21489	104683
56	20574	915	21489	84109
57	20754	735	21489	63356
58	20935	554	21489	42421
59	21118	371	21489	21302
60	21303	186	21489	0

IDFC Bank Personal Loan EMI for ₹ 20 Lakh

Month	Principal (Rs.)	Interest (Rs.)	Principal + Interest (Rs.)	Balance to be Paid (Rs.)
1	25495	17483	42978	1974505
2	25717	17260	42978	1948788
3	25942	17036	42978	1922846
4	26169	16809	42978	1896677
5	26398	16580	42978	1870279
6	26629	16349	42978	1843650
7	26861	16117	42978	1816789
8	27096	15882	42978	1789693
9	27333	15645	42978	1762360
10	27572	15406	42978	1734788
11	27813	15165	42978	1706975
12	28056	14922	42978	1678919
13	28301	14677	42978	1650618
14	28549	14429	42978	1622069
15	28798	14180	42978	1593271
16	29050	13928	42978	1564221
17	29304	13674	42978	1534917
18	29560	13418	42978	1505356
19	29819	13159	42978	1475538
20	30079	12899	42978	1445459
21	30342	12636	42978	1415117
22	30607	12370	42978	1384509
23	30875	12103	42978	1353634
24	31145	11833	42978	1322489
25	31417	11561	42978	1291072
26	31692	11286	42978	1259380
27	31969	11009	42978	1227412
28	32248	10730	42978	1195163
29	32530	10448	42978	1162633
30	32815	10163	42978	1129819
31	33101	9877	42978	1096717
32	33391	9587	42978	1063326
33	33683	9295	42978	1029644
34	33977	9001	42978	995667
35	34274	8704	42978	961393
36	34574	8404	42978	926819
37	34876	8102	42978	891943
38	35181	7797	42978	856762
39	35488	7490	42978	821274
40	35799	7179	42978	785475
41	36112	6866	42978	749364
42	36427	6551	42978	712936
43	36746	6232	42978	676191
44	37067	5911	42978	639124
45	37391	5587	42978	601733
46	37718	5260	42978	564015
47	38047	4930	42978	525968
48	38380	4598	42978	487588
49	38716	4262	42978	448872
50	39054	3924	42978	409818
51	39395	3582	42978	370423
52	39740	3238	42978	330683
53	40087	2891	42978	290596
54	40438	2540	42978	250158
55	40791	2187	42978	209367
56	41148	1830	42978	168220
57	41507	1471	42978	126712
58	41870	1108	42978	84842
59	42236	742	42978	42606
60	42605	372	42978	0

IDFC Bank Personal Loan EMI for ₹ 25 Lakh

Month	Principal (Rs.)	Interest (Rs.)	Principal + Interest (Rs.)	Balance to be Paid (Rs.)
1	31868	21854	53722	2468132
2	32147	21576	53722	2435985
3	32428	21295	53722	2403557
4	32711	21011	53722	2370846
5	32997	20725	53722	2337849
6	33286	20437	53722	2304563
7	33577	20146	53722	2270986
8	33870	19852	53722	2237116
9	34166	19556	53722	2202950
10	34465	19257	53722	2168485
11	34766	18956	53722	2133719
12	35070	18652	53722	2098649
13	35377	18346	53722	2063272
14	35686	18036	53722	2027586
15	35998	17724	53722	1991588
16	36313	17410	53722	1955276
17	36630	17092	53722	1918646
18	36950	16772	53722	1881695
19	37273	16449	53722	1844422
20	37599	16123	53722	1806823
21	37928	15795	53722	1768895
22	38259	15463	53722	1730636
23	38594	15129	53722	1692042
24	38931	14791	53722	1653111
25	39271	14451	53722	1613840
26	39615	14108	53722	1574225
27	39961	13761	53722	1534264
28	40310	13412	53722	1493954
29	40663	13060	53722	1453291
30	41018	12704	53722	1412273
31	41377	12346	53722	1370896
32	41738	11984	53722	1329158
33	42103	11619	53722	1287054
34	42471	11251	53722	1244583
35	42843	10880	53722	1201740
36	43217	10505	53722	1158523
37	43595	10127	53722	1114928
38	43976	9746	53722	1070952
39	44360	9362	53722	1026592
40	44748	8974	53722	981844
41	45139	8583	53722	936704
42	45534	8188	53722	891170
43	45932	7790	53722	845238
44	46334	7389	53722	798905
45	46739	6984	53722	752166
46	47147	6575	53722	705019
47	47559	6163	53722	657459
48	47975	5747	53722	609484
49	48394	5328	53722	561090
50	48818	4905	53722	512272
51	49244	4478	53722	463028
52	49675	4048	53722	413353
53	50109	3613	53722	363244
54	50547	3175	53722	312697
55	50989	2734	53722	261709
56	51435	2288	53722	210274
57	51884	1838	53722	158390
58	52338	1385	53722	106052
59	52795	927	53722	53257
60	53257	466	53722	0

IDFC Bank Personal Loan EMI for ₹ 30 Lakh

Month	Principal (Rs.)	Interest (Rs.)	Principal + Interest (Rs.)	Balance to be Paid (Rs.)
1	38242	26225	64467	2961758
2	38576	25891	64467	2923182
3	38913	25553	64467	2884269
4	39254	25213	64467	2845015
5	39597	24870	64467	2805418
6	39943	24524	64467	2765476
7	40292	24175	64467	2725184
8	40644	23823	64467	2684540
9	40999	23467	64467	2643540
10	41358	23109	64467	2602182
11	41719	22747	64467	2560463
12	42084	22383	64467	2518379
13	42452	22015	64467	2475927
14	42823	21644	64467	2433103
15	43197	21269	64467	2389906
16	43575	20892	64467	2346331
17	43956	20511	64467	2302375
18	44340	20127	64467	2258035
19	44728	19739	64467	2213307
20	45119	19348	64467	2168188
21	45513	18954	64467	2122675
22	45911	18556	64467	2076764
23	46312	18154	64467	2030451
24	46717	17750	64467	1983734
25	47126	17341	64467	1936608
26	47538	16929	64467	1889070
27	47953	16514	64467	1841117
28	48372	16094	64467	1792745
29	48795	15672	64467	1743950
30	49222	15245	64467	1694728
31	49652	14815	64467	1645076
32	50086	14381	64467	1594989
33	50524	13943	64467	1544466
34	50966	13501	64467	1493500
35	51411	13056	64467	1442089
36	51861	12606	64467	1390228
37	52314	12153	64467	1337914
38	52771	11696	64467	1285143
39	53233	11234	64467	1231910
40	53698	10769	64467	1178213
41	54167	10300	64467	1124045
42	54641	9826	64467	1069404
43	55118	9348	64467	1014286
44	55600	8867	64467	958686
45	56086	8381	64467	902599
46	56577	7890	64467	846023
47	57071	7396	64467	788952
48	57570	6897	64467	731381
49	58073	6393	64467	673308
50	58581	5886	64467	614727
51	59093	5374	64467	555634
52	59610	4857	64467	496024
53	60131	4336	64467	435894
54	60656	3810	64467	375237
55	61187	3280	64467	314050
56	61722	2745	64467	252329
57	62261	2206	64467	190068
58	62805	1662	64467	127263
59	63354	1112	64467	63908
60	63908	559	64467	1

IDFC Bank Personal Loan EMI for ₹ 50 Lakh

Month	Principal (Rs.)	Interest (Rs.)	Principal + Interest (Rs.)	Balance to be Paid (Rs.)
1	63736	43708	107445	4936264
2	64294	43151	107445	4871970
3	64856	42589	107445	4807114
4	65423	42022	107445	4741692
5	65994	41450	107445	4675697
6	66571	40873	107445	4609126
7	67153	40291	107445	4541973
8	67740	39704	107445	4474233
9	68332	39112	107445	4405900
10	68930	38515	107445	4336970
11	69532	37912	107445	4267438
12	70140	37305	107445	4197298
13	70753	36691	107445	4126544
14	71372	36073	107445	4055172
15	71996	35449	107445	3983177
16	72625	34820	107445	3910552
17	73260	34185	107445	3837292
18	73900	33544	107445	3763391
19	74546	32898	107445	3688845
20	75198	32247	107445	3613647
21	75855	31589	107445	3537791
22	76519	30926	107445	3461273
23	77187	30257	107445	3384085
24	77862	29583	107445	3306223
25	78543	28902	107445	3227680
26	79229	28215	107445	3148451
27	79922	27523	107445	3068529
28	80621	26824	107445	2987908
29	81325	26119	107445	2906583
30	82036	25408	107445	2824546
31	82753	24691	107445	2741793
32	83477	23968	107445	2658316
33	84207	23238	107445	2574109
34	84943	22502	107445	2489167
35	85685	21759	107445	2403481
36	86434	21010	107445	2317047
37	87190	20255	107445	2229857
38	87952	19493	107445	2141905
39	88721	18724	107445	2053184
40	89496	17948	107445	1963688
41	90279	17166	107445	1873409
42	91068	16377	107445	1782341
43	91864	15581	107445	1690477
44	92667	14778	107445	1597810
45	93477	13968	107445	1504332
46	94294	13150	107445	1410038
47	95119	12326	107445	1314919
48	95950	11495	107445	1218969
49	96789	10656	107445	1122180
50	97635	9810	107445	1024545
51	98489	8956	107445	926057
52	99349	8095	107445	826707
53	100218	7227	107445	726489
54	101094	6351	107445	625395
55	101978	5467	107445	523418
56	102869	4576	107445	420549
57	103768	3676	107445	316780
58	104676	2769	107445	212105
59	105591	1854	107445	106514
60	106514	931	107445	0