The cost of the loan is typically based on the interest rate offered to you by the lender. When you enter this value, along with the tenor and principal, into the personal loan EMI calculator, you get accurate figures for your EMI, the total interest payable, and the net payable amount. Accuracy of information is key to effectively planning for repayment and the EMI calculator provides error-free results. Lenders like Bajaj Finserv even provide you with a simplified pie chart that depicts the total interest payment and the principal, helping you understand your loan visually.