Personal Loan EMI Calculator
See the monthly commitment and interest cost of an unsecured personal loan.
Results are estimates for illustration only and are not financial, tax or investment advice. Disclaimer
Explore a different amount, period or rate alongside your current plan.
Your inputs
Range ₹50,000 to ₹40L
Range 10% to 24%
Range 1 year to 5 years
Exact duration: 36 months. Year values are rounded to the nearest whole month.
Advanced
Monthly EMI: ₹16,607. Interest saved: ₹0.
Results
Monthly EMI
₹16,607
Total repayment
₹5,97,858
Loan principal
₹5,00,000
Total interest
₹97,858
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Annual repayments and prepayments
EMI repayment schedule
Open a year to see each EMI, extra payment and balance left. Regular instalments exclude the separate prepayment column.
| Year / month | Regular instalments | EMI principal | Interest | Prepayment | Balance left |
|---|---|---|---|---|---|
| ₹1,99,286 | ₹1,47,208 | ₹52,078 | ₹0 | ₹3,52,792 | |
| Month 1 | ₹16,607 | ₹11,607 | ₹5,000 | ₹0 | ₹4,88,393 |
| Month 2 | ₹16,607 | ₹11,723 | ₹4,884 | ₹0 | ₹4,76,670 |
| Month 3 | ₹16,607 | ₹11,840 | ₹4,767 | ₹0 | ₹4,64,829 |
| Month 4 | ₹16,607 | ₹11,959 | ₹4,648 | ₹0 | ₹4,52,870 |
| Month 5 | ₹16,607 | ₹12,078 | ₹4,529 | ₹0 | ₹4,40,792 |
| Month 6 | ₹16,607 | ₹12,199 | ₹4,408 | ₹0 | ₹4,28,593 |
| Month 7 | ₹16,607 | ₹12,321 | ₹4,286 | ₹0 | ₹4,16,271 |
| Month 8 | ₹16,607 | ₹12,444 | ₹4,163 | ₹0 | ₹4,03,827 |
| Month 9 | ₹16,607 | ₹12,569 | ₹4,038 | ₹0 | ₹3,91,258 |
| Month 10 | ₹16,607 | ₹12,695 | ₹3,913 | ₹0 | ₹3,78,563 |
| Month 11 | ₹16,607 | ₹12,822 | ₹3,786 | ₹0 | ₹3,65,742 |
| Month 12 | ₹16,607 | ₹12,950 | ₹3,657 | ₹0 | ₹3,52,792 |
| ₹1,99,286 | ₹1,65,877 | ₹33,408 | ₹0 | ₹1,86,915 | |
| ₹1,99,286 | ₹1,86,915 | ₹12,371 | ₹0 | ₹0 | |
| Loan totals | ₹5,97,858 | ₹5,00,000 | ₹97,858 | ₹0 | ₹0 |
Amounts are rounded to the nearest rupee for display. Year and loan totals use full-precision values, so adding rounded monthly rows may differ slightly. Regular instalments plus prepayments equal total repayment; EMI principal plus prepayments equal the loan amount.
Look beyond the quoted EMI
A processing fee and applicable taxes may reduce the amount paid to you even when repayments are based on the full sanctioned principal. Fees are excluded here; compare the offer’s annual percentage rate and net disbursal alongside the EMI.
Credit score, income, existing borrowing and repayment history can influence the rate offered. Check any lock-in period and prepayment charges before relying on extra-payment savings; the calculation assumes extras are permitted without a fee.
How this estimate works
- A reducing-balance loan with a fixed interest rate and monthly repayments is assumed. Monthly interest is the annual rate divided by 12.
- The final instalment adjusts to clear the outstanding balance. Processing fees, insurance, taxes and rate changes are excluded.
- Extra payments are applied after the chosen month’s EMI, with yearly payments after each 12th EMI. Coinciding payments are combined and capped at the remaining balance.
- Reduce tenure keeps the initial EMI. Reduce EMI recalculates it after each extra payment over the original remaining months. Interest and months saved are compared with the same loan without extras.
- The slider ranges and default rate are editable planning assumptions, not live lender quotes or eligibility limits. Use your actual loan offer for a personalised estimate.
Saved calculations
Last 10 per calculator, stored only on this device.
Save a calculation to return to it later.
How the personal loan EMI calculator works
A personal loan is unsecured, so interest rates are usually higher and tenures shorter, often one to five years. Because the rate is high, the tenure and any prepayment have a large effect on the total interest.
Who this helps
For borrowers comparing quoted reducing-balance rates and the cost of different repayment periods.
Formula
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
P is the loan amount, r is the annual interest rate ÷ 12 ÷ 100, and n is the tenure in months.
Worked example
A loan of ₹5 lakh at 12% a year for 3 years has an EMI of ₹16,607. Over the full tenure you repay ₹5,97,858, of which ₹97,858 is interest.
Based on this calculator’s default inputs.
Frequently asked questions
What is the EMI on a ₹5 lakh personal loan?
At 12% for 3 years, the EMI is about ₹16,607 and the total interest is about ₹97,858.
Why are personal loan rates higher?
There is no collateral, so lenders price the risk into the rate based on your income, credit score and employer. Your offer may be higher or lower than the default used here.
Are there charges for prepaying a personal loan?
Prepayment eligibility and charges depend on the loan type, sanction or renewal terms and your agreement. Check your lender’s applicable terms before paying extra. The interest saving shown here does not subtract charges.
How does my credit score affect the loan?
A higher credit score usually brings a lower rate and a larger eligible amount. Even a small rate difference changes the EMI, so try a few rates here.
Is the interest rate flat or reducing?
This calculator uses a reducing-balance rate, where interest is charged only on the outstanding balance. A “flat” rate charged on the original amount costs much more than the same reducing rate, so ask your lender which one applies.
Model and timing
One constant annual rate is divided by 12; monthly interest is charged on the outstanding principal. Extra principal is paid after the regular EMI.
Before using the estimate
Fees, insurance, tax and rate changes are excluded. Prepayment availability and charges depend on the loan and agreement. At the same quoted percentage and term a flat-rate loan costs more interest than a reducing-rate loan; comparing actual APR also requires fees and payment timing. This tool does not assess approval or credit-score eligibility.
Try a useful comparison
Compare offers using their reducing-balance rates and actual financed amounts, then compare total interest and EMI. Check charges outside this model before treating a prepayment saving as a net saving. Save locally or prepare a report.
Results are estimates for illustration only and are not financial, tax or investment advice.