Calculate SMFG India Credit Personal Loan EMI

Total Payments-


Total Interest-
Principal Amount-
Total EMI


View Details
  • Loan Amount
  • Interest Rate
  • Your EMI
  • Tenure
  • ₹25,00,000
  • 11.99%
  • ₹0
  • 5

How to Use MyMoneyMantra SMFG India Personal Loan EMI Calculator?

The SMFG India Credit Personal Loan calculator available on our website comes with sliding options that enable users to enter any amount up to Rs. 40 Lakhs. Similarly, you can choose the applicable rate of interest and loan tenure (in years) to determine the EMI. 
This example will clear everything. 
For example if you enter the following values:

  • Loan amount - Rs. 5 Lakhs
  • Rate of interest - 11.99%
  • Loan tenure - 5 year

You get the following EMI automatically: 
Rs. 11,120 
The calculator will also provide the following results:

  • Total interest: Rs. 1,67,182
  • Total payments: Rs. 6,67,182 

SMFG India Credit Personal Loan EMI Calculation Formula

Calculating your personal loan EMI amount requires a specific formula: [PXRX(1+R)^N]/[(1+R)^N-1]   
P = The Principal Amount 
R = Rate of interest on loan amount  
N = Tenure of loan repayment  
To calculate SMFG India personal loan EMI using the formula, you will need three loan details, i.e. the principal loan amount, rate of interest, and repayment tenure in months.

Benefits of SMFG India Personal Loan EMI Calculator

The SMFG India Credit Personal Loan EMI Calculator is beneficial to customers in various ways.

  • It is easy to use and available for free. Customers can access the calculator from any device.
  • This calculator bids goodbye to the complicated mathematical formulas that one has to contend with when calculating the EMI.
  • The Personal Loan EMI calculator eliminated human error while delivering accurate and quick results.
  • Customers can use this calculation with various combinations. It can help them to calculate the
  • EMI of other loans having similar specifications as the personal loan.
  • This calculator is all-inclusive. Customers can add the processing fees and other charges to the loan account to determine the EMI.
  • One can calculate the EMI for a range of maturities ranging from 12 months to 60 months.

How to Use SMFG Personal Loan EMI Calculator to Estimate an EMI That Fits Your Budget?

You can enter various combinations of the principal loan amount, rate of interest and repayment tenure in the calculator. Entering different values will provide different EMI results, based on which you can check for the available options of lenders that provide EMIs suitable to your budget. For instance, if you want low EMIs, you can opt for a bank that offers low-interest rates for a longer tenure. That way you can use the SMFG India Credit personal loan EMI calculator to estimate an EMI that suits your budget.

Following are some of the ways of using the SMFG Credit personal loan EMI calculator to plan out your EMI payments: 

  • Prepayment: The EMI calculator enables you to check how much you can save if you prepay your loan before the tenure ends. Prepayment is an easy way to reduce the EMIs to be paid each month.  
  • Extending tenure: Another way to lower your EMIs is to extend your repayment tenure. Using the calculator, you can increase the tenure until your EMI amount comes down to a figure that suits your budget.  
  • Opting for variable interest rate: You can also opt for a floating rate of interest over a fixed one to reduce your EMI payments. By doing so, you can get the benefit of the changes in lending rates. Use the EMI calculator to see the fixed rate for your loan and compare it to the floating rate of interest.

SMFG India Credit Personal Loan EMI Calculation

Below is the EMI calculation for Rs. 10 Lakhs Personal Loan amount at an 11.99% rate of interest for the tenure of 60 months:

  • EMI: Rs. 22,239
  • Total interest: Rs. 3,34,364
  • Total payments: Rs. 13,34,364

Amortization Table

YearOpening BalanceAmount paid by customer (EMI*12)Interest paid during the yearPrincipal paid during the yearClosing Balance

SMFG India Credit Personal Loan EMI Calculator FAQs

Is the SMFG Personal Loan EMI calculator an accurate tool to determine your loan EMI?


Yes, the SMFG Personal Loan EMI calculator is a precise mechanism for calculating your loan EMI. It eliminates human error when estimating the EMI.

Can you use the SMFG India Personal Loan EMI calculator to estimate your loan eligibility?


No, the estimation of your loan eligibility is a different type of calculation. It needs information like your income, your monthly obligations, your age, and so on. The EMI calculator is a simple tool that requires details about the loan amount, the rate of interest, and the loan tenure. Both these calculators are two distinct tools without any overlapping.

Does the EMI calculator help you to calculate your loan affordability?


It is not possible to do a reverse calculation and find out your loan affordability. However, you can use the trial and error method to arrive at the exact loan amount you can afford to repay.

What are the prime limitations of the SMFG India Credit Personal Loan EMI Calculator?


The SMFG India Credit Personal Loan EMI calculator is not an ideal one for determining your home loan EMI. It is because there are restrictions as far as amount and loan tenure is concerned. However, this tool is perfect for a personal loan.

How does the loan tenure affect the EMI calculation?


The loan tenure is one of the three variables in the EMI calculation. If there is a change in the value of any of these variables, it affects the EMI amount. The EMI is inversely proportional to the repayment tenure.

Does the EMI calculator calculate interest on simple interest or compound interest basis?


The personal loan EMI calculator calculates the EMI considering the compounding factor.

What are the constituents of an EMI?


The EMI comprises of two constituents, the principal loan repayment factor and the interest repayment factor.

What factors affect the calculation of the EMI amount?


EMI depends on the following three factors.

  • The principal loan amount
  • The rate of interest on the loan amount
  • The loan repayment tenure

The loan amount and the rate of interest vary in direct proportion to the EMI, whereas the loan repayment tenure is inversely proportional to the EMI.

Does the SMFG India Personal Loan EMI calculator provide me with the loan amortisation schedule?


No, the SMFG India Personal Loan EMI calculator does not provide the loan amortisation schedule. It is one of the significant drawbacks of this tool.

Are there any alternative methods to calculate the personal loan EMI?


Yes, one can calculate the personal loan EMI in many ways. Using MS Excel tables is an easy way to do so. One can also do an arithmetical calculation using the conventional EMI formula.