FREE CALCULATOR
Personal Loan EMI Calculator India
See the true cost of your personal loan — monthly EMI, total interest, and actual APR after processing charges — before you sign.
- Calculate EMI for personal loans from ₹50,000 to ₹50 lakh across tenures from 1 to 7 years.
- Add processing fees (typically 1–3%) to see your real APR — not just the advertised interest rate.
- Compare the total interest cost across different loan amounts and tenures in seconds.
₹5.00 L
5 yrs · 60 mo
1 yr
30 yrs
These are what separate the rate you are quoted from the rate you actually pay. Every figure here feeds the effective APR.
₹2,500 fee + ₹450 GST = ₹2,950
Optional. Typically ₹30,000–₹2,00,000, financed into the loan.
Live Cost Breakdown
Monthly instalment (EMI)
₹11,122/mo
for 60 months (5 yrs)
Effective APR
12.26%
26 bps above the 12% quoted
Where every ₹100 goes
Total outflow ₹6.70 L
Principal
- 74.6%₹5.00 L
Interest
- 25.0%₹1.67 L
Fees & insurance
- 0.4%₹2,950
You repay ₹1.34 for every ₹1 you borrow.
Total interest
₹1.67 L
over 5 yrs
Upfront charges
₹2,950
paid before disbursal
Tax saved
₹0
not available on this loan
Real cost
₹5.75 L
in today's ₹ at 6% inflation
Ways to finish sooner
1 extra EMI a year
Pay one extra ₹11,122.22 every twelve months
Saves
₹14,705
Finishes 5 mo early · +₹11,122 in year 1
5% step-up each year
Raise your EMI 5% at every annual appraisal
Saves
₹11,651
Finishes 6 mo early
Round the EMI up
Pay ₹12,000 instead of ₹11,122.22
Saves
₹17,301
Finishes 5 mo early · +₹10,533 in year 1
Simulated on the loan above. RBI bars lenders from charging foreclosure or prepayment penalties on floating-rate loans to individual borrowers.
Principal
Interest
Estimates for a personal loan, for illustration only. Actual EMI, charges and tax treatment depend on your lender's sanction terms and your own tax position. Confirm the figures on your Key Facts Statement before you sign.
How Is EMI Calculated?
Every loan EMI in India is calculated using the reducing-balance method. The formula is:
EMI = P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ – 1]
- PPrincipal — the loan amount you borrow
- rMonthly interest rate — annual rate ÷ 12 ÷ 100 (e.g. 8.5% p.a. → 0.007083 per month)
- nTenure in months — e.g. 20 years = 240 months
Worked example: ₹50 lakh at 8.5% for 20 years — r = 0.007083, n = 240. EMI = 50,00,000 × 0.007083 × (1.007083)²⁴⁰ ÷ [(1.007083)²⁴⁰ – 1] ≈ ₹43,390/month. Total interest paid over 20 years ≈ ₹55.3 lakh — more than the original principal.
Sample EMI Reference Table
| Loan Amount & Rate | 1 year | 3 years | 5 years |
|---|---|---|---|
| ₹1 lakh @ 12% | ₹8,885 | ₹3,321 | ₹2,225 |
| ₹3 lakh @ 13% | ₹26,870 | ₹10,108 | ₹6,828 |
| ₹5 lakh @ 14% | ₹44,940 | ₹17,090 | ₹11,634 |
| ₹10 lakh @ 15% | ₹90,258 | ₹34,665 | ₹23,790 |
EMI figures at the stated rates. Rounded to nearest ₹10. Use the calculator above for your exact EMI.
What Affects Your EMI?
Interest rate — personal loans carry the highest rates among retail loans (10–24%); your CIBIL score is the primary driver.
Tenure — short tenures (1–7 years) mean even small rate differences create large EMI and total-cost gaps.
Processing fee — 1–3% upfront substantially increases your effective APR, especially on shorter tenures.
Employment type — salaried employees at reputed firms consistently get lower rates than self-employed borrowers.
FOIR — your Fixed Obligation to Income Ratio must stay below 50–55% for most lenders to approve.
Tips to Lower Your EMI
A CIBIL score above 750 qualifies you for rates 2–4% lower than a 650 score — a large difference on a high-rate short-tenure loan.
Avoid the maximum tenure — you pay significantly more total interest even though the monthly EMI looks smaller.
Use the prepayment option after year 1 (when lock-in expires at most banks) to dramatically cut your interest burden.
Compare in-hand disbursement after fees — some lenders advertise low rates but charge 3% processing fees, making them costlier.
Frequently Asked Questions
What is the EMI for a ₹5 lakh personal loan?
For a ₹5 lakh personal loan at 14% for 3 years, the EMI is approximately ₹17,090 per month. For a 5-year tenure, the EMI drops to ₹11,634 but you pay about ₹1.2 lakh more in total interest.
What is the EMI for a ₹10 lakh personal loan?
For a ₹10 lakh personal loan at 15% for 3 years, the EMI is approximately ₹34,665 per month. At 12% for 5 years, the EMI is ₹22,244. Rates vary significantly based on your credit profile.
How is personal loan EMI calculated?
Personal loan EMI uses the standard formula: EMI = P × r × (1+r)ⁿ ÷ [(1+r)ⁿ – 1], where P is the principal, r is the monthly rate (annual rate ÷ 12 ÷ 100), and n is the tenure in months.
What CIBIL score is needed for the lowest personal loan rate?
Most banks offer their lowest personal loan rates (10–12%) to borrowers with CIBIL scores above 750. Between 700–750, rates typically range from 13–16%. Below 700, rates can exceed 18%.
Can I prepay a personal loan early?
Yes. Most banks allow full or partial prepayment after 6–12 months (lock-in period). Prepayment charges are typically 2–4% of the outstanding principal. On a high-interest personal loan, prepaying early almost always makes financial sense.