Loans
Personal Loan EMI Calculator
Compute your personal loan EMI and total cost before you sign.
₹5,00,000
13%
3 yr
Principal82%
Interest18%
Monthly EMI₹16.8K
Total Interest₹1.06 L
Total Payment₹6.06 L
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Personal loans are unsecured and carry higher interest rates than secured loans. This calculator shows your monthly EMI, total interest and total repayment so you can borrow only what you can comfortably repay.
How this calculator works
Enter the loan amount, the interest rate, and the tenure. The reducing-balance EMI formula computes your monthly instalment, total interest and total payment instantly.
The formula
EMI = [P × r × (1 + r)^n] / [(1 + r)^n − 1]- P
- = Loan principal
- r
- = Monthly interest rate
- n
- = Tenure in months
Personal loan rates (usually 11–24%) depend heavily on your credit score and income.
Worked example
Example: ₹5,00,000 at 13% for 3 years
Loan amount₹5,00,000
Interest rate13% p.a.
Tenure3 years
Monthly EMI ≈ ₹16,847, total interest ≈ ₹1.06 lakh, total payment ≈ ₹6.06 lakh.
Key benefits
- Understand the real cost of an unsecured loan
- Compare lenders and rates in seconds
- Right-size your borrowing to your budget
- See how tenure affects EMI and total interest
Smart tips
- A higher credit score (750+) fetches materially lower rates
- Avoid the longest tenure — it inflates total interest
- Watch for processing fees and prepayment charges
- Never borrow for depreciating or discretionary spends if avoidable
Frequently asked questions
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Explore all free financial calculators. Results are indicative estimates for information only and not investment, tax or legal advice.