Calculate your personal loan EMI
Monthly EMI
₹10,746.95
Principal
₹5,00,000
77.5%
Interest
₹1,44,817
22.5%
Total Payment
₹6,44,817
Total
₹6,44,817
77.5%
22.5%
| Year | Principal | Interest | Total Payment | Balance |
|---|---|---|---|---|
| Year 1 | ₹80,253 | ₹48,711 | ₹1,28,963 | ₹4,19,747 |
| Year 2 | ₹89,097 | ₹39,867 | ₹1,28,963 | ₹3,30,651 |
| Year 3 | ₹98,916 | ₹30,048 | ₹1,28,963 | ₹2,31,735 |
| Year 4 | ₹1,09,816 | ₹19,147 | ₹1,28,963 | ₹1,21,919 |
| Year 5 | ₹1,21,919 | ₹7,045 | ₹1,28,963 | ₹0 |
| Total | ₹5,00,000 | ₹1,44,817 | ₹6,44,817 | - |
Planning to take a personal loan? Use our free Personal Loan EMI Calculator to estimate your monthly payments and plan your finances better.
A Personal Loan is an unsecured loan that you can borrow from a bank, NBFC, or online lender without providing any collateral. It can be used for various purposes like wedding expenses, home renovation, debt consolidation, medical emergencies, or travel.
Unlike home loans or car loans where the property or vehicle serves as collateral, personal loans are granted based on your credit score, income, and repayment capacity. The loan amount typically ranges from ₹50,000 to ₹25 lakhs with tenure ranging from 1 to 7 years.
Your Personal Loan EMI depends on three main factors:
Personal Loan EMI is calculated using this standard formula:
EMI = [P × R × (1 + R)^N] / [(1 + R)^N – 1]
Where:
10.50% - 15.50% p.a.
Processing: 1% (₹1,000 min)
10.50% - 21.00% p.a.
Processing: 2.50%
10.75% - 19.00% p.a.
Processing: 2.25%
10.49% - 22.00% p.a.
Processing: 1%
10.99% - 24.00% p.a.
Processing: 2.50%
10.49% - 26.00% p.a.
Processing: 3%
Get your EMI calculation in milliseconds with precise formulas
Try different combinations of amount, rate, and tenure to find the best deal
Know exactly how much you need to set aside each month for loan repayment
View detailed breakdown of principal vs interest over the loan tenure
A score of 750+ helps you get better interest rates
Interest rates vary significantly between banks and NBFCs
Shorter tenure = lower interest but higher EMI
If you have a good relationship with the bank, negotiate for discounts
Multiple inquiries hurt your credit score
A Personal Loan EMI Calculator is a free online tool that helps you calculate the monthly payment amount for your personal loan. It considers the principal loan amount, interest rate, and tenure to give you accurate EMI calculations.
The minimum personal loan amount in India typically ranges from ₹50,000 to ₹1 lakh depending on the lender. The maximum can go up to ₹25 lakhs or more based on your income and credit score.
Personal loan interest rates in India range from 10% to 26% p.a. depending on the lender, your credit score, income, and relationship with the bank. Customers with good credit scores (750+) usually get the best rates.
Yes, most banks and NBFCs allow prepayment of personal loans. However, some lenders charge a prepayment penalty of 2-4% on the outstanding principal. Check the terms before applying.
Personal loan tenure typically ranges from 1 to 7 years (12 to 84 months). Some lenders may offer up to 10 years for specific purposes.
Total interest is calculated by subtracting the principal loan amount from the total payment over the loan tenure. Total Payment = EMI × Number of Months. Total Interest = Total Payment - Principal Amount.
Yes, taking a personal loan affects your credit score. Timely payments improve your score, while missed payments or defaulting can significantly damage it. Multiple loan applications in a short period can also negatively impact your score.
Use our free Personal Loan EMI Calculator to plan your finances and make informed decisions. Compare different loan offers and choose the one that best fits your budget and requirements.