Personal Loan EMI Calculator
Personal loan EMI calculator: enter the amount, the interest rate your bank or app offered and the tenure to see the EMI, the real interest cost and the full schedule.
₹5,00,000 (5 lakh)
Monthly EMI
₹13,167
- Principal
- ₹5,00,000
- Total interest
- ₹1,32,011
- Total amount paid
- ₹6,32,011
The EMI is rounded to the nearest rupee and the last instalment is adjusted, so the totals match the schedule. Banks may differ slightly because of processing fees, insurance and the exact date of disbursal.
Repayment schedule
| Year | Principal | Interest | Balance at end |
|---|---|---|---|
| ₹1,03,578 | ₹54,426 | ₹3,96,422 | |
| ₹1,16,714 | ₹41,290 | ₹2,79,708 | |
| ₹1,31,517 | ₹26,487 | ₹1,48,191 | |
| ₹1,48,191 | ₹9,808 | ₹0 |
Calculations run in your browser. Nothing you type is sent or stored.
How to use Personal Loan EMI Calculator
Enter the personal loan amount, the interest rate your lender quoted and the tenure in years or months (or use the sliders).
Read the monthly EMI, total interest and total amount payable. Tick "Add prepayments" to see how extra payments cut interest and tenure.
Open any year in the schedule to see each month, or click "Download schedule (CSV)".
When to use Personal Loan EMI Calculator
- Before applying. Check what EMI fits your monthly budget before you choose a personal loan amount.
- Comparing offers. Compare the total interest of two lenders, not just the rate.
- Planning prepayments. See how a bonus or a small monthly extra shortens the loan.
How personal loan EMIs work in India
Personal loans are usually fixed-rate and unsecured. Approval and rate depend heavily on your CIBIL score, income and employer.
Processing fees of 1% to 3% plus GST are common and are often deducted from the amount you receive. Compare the annual percentage rate (APR), which includes fees, not just the interest rate.
Many lenders do not allow prepayment in the first 6 to 12 months and charge 2% to 5% after that. Check before planning a prepayment.
EMI formula
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of months. Early EMIs are mostly interest; later ones are mostly principal.
Limits and privacy
- Results are estimates for information only, not financial or tax advice. Confirm with your bank, lender or tax adviser.
- Calculations run in your browser. Nothing you type is sent or stored.
Frequently asked questions
What is the EMI for a personal loan of Rs 10 lakh?
At 12% interest for 4 years, a ₹10 lakh personal loan costs about ₹26,334 a month, with roughly ₹2.6 lakh in interest. At 16% the EMI is about ₹28,340 and the interest about ₹3.6 lakh. Use the calculator above with your exact rate and tenure, because a 0.5% difference in rate or a few extra years changes the EMI and the total interest noticeably.
What is a good personal loan interest rate?
Personal loans are unsecured, so rates are higher: roughly 10.5% to 16% from banks for good credit profiles in 2026, and often 18% to 30% or more from some apps and NBFCs. Rates depend on the RBI repo rate, your credit score, income and the lender, so compare the annual percentage rate including fees from several banks and NBFCs. Rates change often; check current offers.
Does prepayment reduce EMI or tenure?
You can usually choose. Most banks reduce the tenure by default and keep the EMI the same, which saves the most interest; this calculator shows that case. Some let you lower the EMI instead. Floating-rate loans to individuals carry no prepayment penalty under RBI rules; fixed-rate loans may charge one, so check your loan agreement.
Step-by-step guides
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