Personal Loan EMI Calculator
Compute the EMI, total interest and amortization schedule for a personal loan in India. Free calculator with rates from 11 to 24 percent for any tenure.
अपना परिणाम कैलकुलेट करें
अपने आँकड़े दर्ज करें। बदलाव के साथ अनुमान और चार्ट अपडेट होंगे।
इनपुट
- मासिक EMI
- ₹16,847
- कुल ब्याज
- ₹1,06,491
- 21.3%
- कुल भुगतान
- ₹6,06,491
- ₹6.06L
आपके आँकड़ों का मतलब
आप ब्याज में ₹1.06L चुकाते हैं — ऋण राशि का 21%।
ब्याज दर × अवधि का परिणाम है। किसी भी को घटाने से यह कम होता है।
वार्षिक मूलधन बनाम ब्याज विभाजन
Each year’s payments, split into principal and interest. The table also shows your remaining balance.
View repayment data
| Year | Principal paid | Interest paid | Closing balance |
|---|---|---|---|
| 1 | ₹1,45,639 | ₹56,525 | ₹3,54,361 |
| 2 | ₹1,65,742 | ₹36,422 | ₹1,88,619 |
| 3 | ₹1,88,619 | ₹13,544 | ₹0 |
कुल भुगतान विभाजन
कुल राशि का विभाजन देखें। रकम रुपये में है।
- मूलधन · 82.4%₹5,00,000
- ब्याज · 17.6%₹1,06,491
अपनी गणना समझें
A personal loan is the most flexible and most expensive form of consumer credit available in India. There is no collateral, no end use restriction and no asset to repossess if you default. Lenders price this risk by charging interest rates of 11 to 24 percent, often two to three times what a home loan costs. The personal loan EMI calculator on this page tells you the monthly EMI, the total interest you will pay over the tenure and the year by year amortization split.
Personal Loan EMI Calculator क्यों उपयोग करें
Personal loans are easy to get and hard to recover from if used carelessly. The marketing language is persuasive (instant approval, no documents) but the cost is real. A 5 lakh personal loan at 14 percent for 5 years carries a total interest of roughly 2 lakh, which is 40 percent of the principal. The calculator surfaces this number before you accept the offer, so the decision is made on numbers rather than urgency or aesthetics.
Personal Loan EMI Calculator कैसे उपयोग करें
- 1
Enter the loan amount
Borrow only what you genuinely need. Personal loan apps and banks routinely pre approve amounts higher than you require. Inflating the loan inflates the interest paid for no benefit.
- 2
Enter the interest rate
Use the annual reducing-balance interest rate from the written offer. Do not enter a flat rate or a fee-inclusive effective APR into this monthly-interest model. Compare the lender's all-in APR separately.
- 3
Set the tenure
Personal loans are typically offered between 1 and 5 years. Shorter is better given the high interest rates. Match the tenure to your actual ability to repay quickly.
- 4
Read the EMI and the total cost
Look at the monthly EMI for cash flow comfort and the total interest for the lifetime cost. If the total interest exceeds 30 percent of the principal, consider reducing the tenure.
उदाहरण
₹5 lakh personal loan at 13%
With the default ₹5,00,000 at 13% for 3 years (36 months), the EMI is ₹16,847 and total interest is ₹1,06,491. Month 1 interest alone is ₹5,417. Taking 5 years instead lowers the EMI to ₹11,377 but lifts interest to ₹1,82,592.
- EMI over 3 years
- ₹16,847
- Total interest over 3 years
- ₹1,06,491
- EMI over 5 years
- ₹11,377
- Total interest over 5 years
- ₹1,82,592
Two extra years of tenure cost about ₹76,000 more in interest on a ₹5 lakh loan.
इसकी गणना कैसे होती है
The EMI is EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the amount borrowed, r is the annual rate ÷ 12 ÷ 100 and n is the number of monthly instalments.
The schedule charges balance × r as interest each month and applies the remainder of the EMI to principal. The final EMI is trimmed to whatever balance is left.
Processing fees aren't added to the loan here. If the lender deducts a fee from the disbursal, you receive less than P while still repaying the full EMI, so your real cost is higher than the rate shown.
मान्यताएँ और सीमाएँ
- Default rates are illustrative, not live lender offers.
- Constant annual reducing-balance interest divided by 12; end-of-month payments.
- Processing charges, GST on fees, rate resets and prepayment charges are excluded.
अक्सर पूछे जाने वाले प्रश्न
Why are personal loan rates so much higher than home loan rates?
Personal loans are unsecured. There is no asset the lender can take if you default. Banks price this risk into the rate. Home loans, by contrast, are secured by the property itself, which lets banks offer rates as low as 8.5 percent. The 5 to 10 percent rate gap between the two products is essentially the price of the collateral.
What credit score do I need for a personal loan?
A CIBIL score of 750 or higher generally unlocks the best rates and largest amounts. Scores between 700 and 750 usually qualify for loans but at higher rates. Below 700 the choices narrow and the rates climb sharply, often into the 18 to 24 percent range. NBFCs and digital lenders are more lenient on score but compensate with higher pricing.
What is the difference between flat rate and reducing balance interest?
Flat rate calculates interest on the original principal for the full tenure. Reducing balance calculates interest on the outstanding balance, which falls each month as you repay principal. Reducing balance is the standard for legitimate Indian banks and NBFCs. Flat rate is sometimes quoted by smaller lenders or short term apps and is roughly twice as expensive at the same nominal rate.
Can I prepay my personal loan?
Check the rules applicable to your lender, loan purpose, fixed/floating rate and sanction or renewal date, as well as the written agreement. Do not assume every personal loan has a lock-in or penalty. The calculator projects interest savings but does not subtract any applicable prepayment charge.
Should I take a personal loan to consolidate credit card debt?
Often yes. Credit card revolving rates are typically 36 to 42 percent annualised, which is substantially worse than a personal loan at 14 to 16 percent. A personal loan to clear card balances usually saves significant interest, on the strict condition that you do not run up the cards again after the consolidation.
What documents do I need for a personal loan?
Most banks ask for KYC (PAN, Aadhaar), recent salary slips, bank statements for 3 to 6 months, and Form 16 if your loan amount is large. Self employed borrowers also share ITRs and business bank statements. Digital lenders run abridged paperwork using Aadhaar based eKYC and account aggregator data.
Is personal loan interest tax deductible?
Generally no. The exception is when the loan is used for specific purposes like home renovation (then the interest can be claimed under Section 24B if backed by documentation), business expenses (deductible against business income), or higher education (where Section 80E applies, though this is more commonly used for education loans). For typical personal use, there is no tax benefit.