Loan EMI Calculator
Total Down Payment (TDP)
(TDP = D + P)
Loan EMI (LE)
(PLA= A – D)
(PLA = Principal Loan Amount)
(LE = [PLA x R x (1+R)^T]/[(1+R)^T-1] )
Total Interest Payable (TIP)
(TIP = LE * T)
Total Payment (TP)
(TP = LA + TIP + P)
Planning to take a personal loan from Bank of Baroda? Before applying, it is important to know your monthly EMI (Equated Monthly Installment). A Bank of Baroda Personal Loan EMI Calculator helps you estimate your monthly payment in seconds.
What is the Bank of Baroda Personal Loan EMI Calculator?
An EMI calculator is an online tool that calculates your monthly installment based on:
- Principal amount (Loan amount)
- Interest rate
- Loan tenure (in months)
It shows:
- Monthly EMI
- Total interest payable
- Total repayment amount
This helps you understand whether the loan fits your monthly budget.
Bank of Baroda Personal Loan EMI Formula
The EMI is calculated using this formula:
EMI = P × R × (1+R)^N / [(1+R)^N – 1]
Where:
- P = Loan Amount
- R = Monthly Interest Rate
- N = Number of Months
But you don’t need to calculate manually — the online EMI calculator does it instantly.
Example EMI Calculation
Let’s understand with an example:
Loan Amount: ₹5,00,000
Interest Rate: 11% per annum
Tenure: 5 years (60 months)
Approx EMI: ₹10,800 – ₹11,200
Total repayment: Around ₹6.5 – ₹6.8 lakh
Longer tenure reduces EMI but increases total interest paid.
Bank of Baroda Personal Loan Interest Rates
Bank of Baroda personal loan interest rates generally start from:
- Regular Personal Loan: From 10.40% p.a.
- Digital Personal Loan: 12.90% – 18.25% p.a.
- Pre-approved Loan: 12.90% – 16.40% p.a.
Final rate depends on:
- Credit score
- Income
- Employer type
- Loan amount
Also Read: WeRize Personal Loan: 5 Lakh Loan
Why Use Bank of Baroda EMI Calculator?
✔ Instant and accurate calculation
✔ Helps in financial planning
✔ Compare different tenure options
✔ No manual calculation required
✔ Completely free to use
How to Use the EMI Calculator?
Follow these simple steps:
- Enter loan amount (example ₹5,00,000)
- Enter interest rate
- Select loan tenure
- Click calculate
You will instantly see the EMI amount and the total interest payable.
Benefits of Planning EMI Before Applying
- Avoid over-borrowing
- Choose a comfortable EMI amount.
- Compare loan options easily.
- Manage monthly expenses better.
- Improve loan approval chances.
Always choose an EMI that is less than 30–40% of your monthly income.
FAQs
-
Is the Bank of Baroda EMI calculator free?
Yes, it is completely free, and you can use it without installing anything.
-
Does the EMI calculator show the exact EMI?
It shows an estimated EMI. Final EMI depends on the approved interest rate and charges.
-
Can I change tenure in the EMI calculator?
Yes, you can adjust tenure to see how EMI changes.
-
Does EMI include a processing fee?
No, EMI usually includes only principal + interest. Processing charges are separate.
-
What is a good tenure for a personal loan?
It depends on income. Shorter tenure means higher EMI but lower total interest.
-
What is the maximum tenure available?
Bank of Baroda offers up to 84 months for a regular personal loan.
