Free & Instant EMI Calculation 2025
Bank of India Personal Loan EMI Calculator
Principal Amount
₹10,00,000
Total Interest
₹0
Total Amount
₹0
Bank of India Personal Loan EMI Calculator
Plan Your Finances with Bank of India’s Trusted Personal Loan Solutions
The Bank of India, a leading nationalized bank under the Ministry of Finance, has been a pillar of financial trust for decades. Among its diverse offerings, the Bank of India Personal Loan stands out as a flexible solution for urgent needs. To simplify your repayment planning, FinLecture introduces the Bank of India Personal Loan EMI Calculator—an intuitive online tool to compute your Equated Monthly Installments (EMIs) in seconds.
What is the Bank of India Personal Loan EMI Calculator?
The Bank of India Personal Loan EMI Calculator is a free digital tool designed to help borrowers estimate their monthly repayments accurately. By inputting basic loan details, you can instantly determine your EMI, total interest payable, and even view a repayment schedule—all without sharing personal information or signing up.
Why Use Our Calculator?
✅ 100% Accurate Results
✅ No Registration or Fees
✅ Mobile-Friendly & Instant
✅ Compare Loan Tenures & Rates
How to Use the Bank of India Personal Loan EMI Calculator
Just three inputs are required:
- Loan Amount (Principal): Enter the loan amount you wish to borrow (e.g., ₹2 lakh to ₹15 lakh).
- Repayment Tenure: Choose a tenure between 12 months to 60 months.
- Interest Rate: Input the applicable Bank of India Personal Loan interest rate (e.g., 10.5% p.a.).
Step-by-Step Guide:
- Visit FinLecture’s BOI Personal Loan EMI Calculator.
- Adjust the sliders or type values for Loan Amount, Tenure, and Interest Rate.
- View your EMI, total interest, and amortization table instantly.
Formula Behind the Calculator
The calculator uses the standard EMI formula:
EMI=P×r×(1+r)n(1+r)n−1
Where:
- P = Principal Loan Amount
- r = Monthly Interest Rate (Annual Rate ÷ 12)
- n = Tenure in Months
Example Calculation:
- Loan Amount (P): ₹5,00,000
- Tenure (n): 3 years (36 months)
- Interest Rate (r): 10.5% p.a. (Monthly = 0.875%)
EMI = ₹16,240
Total Interest Payable: ₹84,640
Amortization Schedule Overview
Here’s how repayment breaks down for the above example:
| Year | Principal Paid (₹) | Interest Paid (₹) | Remaining Loan (₹) |
|---|---|---|---|
| 1 | 1,42,000 | 52,800 | 3,58,000 |
| 2 | 1,78,000 | 28,500 | 1,80,000 |
| 3 | 1,80,000 | 3,340 | 0 |
Note: Use the calculator for precise results.
Benefits of Using FinLecture’s BOI EMI Calculator
- Plan Smartly: Adjust loan parameters to find EMI amounts that fit your budget.
- Transparency: Understand interest vs. principal allocation yearly.
- Time-Saving: Skip manual calculations and complex Excel sheets.
- Free & Unlimited Access: Use the tool as often as needed.
FAQs: Bank of India Personal Loan EMI Calculator
Q1. What details do I need to use the calculator?
Only three inputs: Loan Amount, Tenure, and Interest Rate.
Q2. Is the calculator free to use?
Yes! No registration or hidden charges.
Q3. Can I check EMIs for different tenures?
Absolutely—adjust the tenure slider to compare EMI options.
Q4. What is Bank of India’s current personal loan interest rate?
Rates start at 10.5% p.a., varying by applicant profile and loan scheme.
Q5. Does the calculator show the total interest payable?
Yes, it displays EMI, total interest, and a yearly amortization schedule.
Q6. How accurate are the results?
Results are based on the standard EMI formula, ensuring 100% accuracy.