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Personal Loan EMI Calculator

Calculate your Equated Monthly Installment (EMI) for personal loans and plan your finances better.

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Loan EMI Results
Monthly EMI

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Total Interest

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Total Amount

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Loan Summary
Loan Amount ₹300,000
Interest Rate 12.0% per annum
Loan Tenure 36 months (3 years)
Monthly EMI ₹9,957
Total Interest Payable ₹58,442
Total Amount Payable ₹358,442
Processing Fee ₹3,000 (1.0%)
Effective Loan Amount ₹297,000
Visualization
Payment Breakdown
Balance Reduction Over Time
Amortization Schedule
Month Payment Date EMI Principal Interest Balance
About Personal Loans

A personal loan is an unsecured loan that provides a lump sum amount to meet your financial needs. Unlike secured loans, personal loans don't require collateral.

Key Features:
  • Loan Amount: Typically ranges from ₹10,000 to ₹50 lakhs
  • Interest Rate: Usually between 10.5% to 24% per annum
  • Tenure: 12 to 84 months (1 to 7 years)
  • Processing Fee: 0.5% to 4% of the loan amount
  • No Collateral Required: Based on your income and credit score
  • Quick Disbursement: Funds typically available within 48-72 hours
Tip: A good credit score (750+) can help you secure a personal loan at a lower interest rate.
Understanding EMI

Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each month.

EMI Formula:

EMI = [P × r × (1 + r)n] ÷ [(1 + r)n - 1]

Where:

  • P = Principal loan amount
  • r = Monthly interest rate (Annual rate ÷ 12 ÷ 100)
  • n = Loan tenure in months
Factors Affecting EMI:
  • Loan Amount: Higher loan amount means higher EMI
  • Interest Rate: Higher interest rate leads to higher EMI
  • Loan Tenure: Longer tenure reduces EMI but increases total interest paid
Important: Early loan repayment can save significant interest costs, but check if your lender charges any prepayment penalties.
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