Personal Loan Calculator
Estimate the monthly EMI, total interest, and total payment for a personal loan, at an assumed interest rate and tenure. This is an illustration based on your own assumptions, not a loan offer or approval.
Your loan details
Adjust the amounts below to see how the illustrated EMI changes.
In rupees, the total amount borrowed — personal loans are usually unsecured.
An assumption you choose for illustration — actual rates vary by lender, loan type and your credit profile, and are not guaranteed by this calculator.
Your estimate
Based on a loan amount of ₹5,00,000 at an assumed 12% annual interest rate, over a 5 years tenure, using standard reducing-balance EMI compounding. Does not include processing fees, insurance, prepayment charges or floating-rate resets.
On a personal loan of ₹5,00,000, at an assumed 12% annual interest rate over a 5-year tenure — this illustration shows a monthly EMI of ₹11,122, with total interest of ₹1,67,333 over the loan (total payment ₹6,67,333). Personal loans are unsecured and typically carry higher rates than secured loans.
Try changing the amount, rate, or tenure to see how the EMI changes — confirm your actual sanctioned rate with a lender.
Learn about this calculator
Estimates the monthly EMI, total interest, and total payment for a personal loan, at an assumed interest rate and tenure.
A personal loan is typically unsecured (no collateral like property or a vehicle backs it), which is why it usually carries a higher interest rate and shorter tenure than a secured loan like a home or car loan. Lenders price personal loans heavily based on the borrower's credit profile and income, so rates can vary widely between individuals.
How it works
The EMI is calculated using the standard reducing-balance formula: each month's instalment covers the interest on the outstanding balance plus a portion of the principal, with the interest portion shrinking and the principal portion growing over the loan's life, while the EMI itself stays level throughout.
What each input means
- Personal loan amount
- The total amount borrowed (the principal) — personal loans are usually unsecured.
- Interest rate (% p.a.)
- An assumption you choose for illustration — actual personal loan rates vary widely by lender and your credit profile, generally higher than secured loans like home or car loans.
- Loan tenure (years)
- How many years the loan is repaid over — personal loans commonly run 1-5 years.
What the results mean
- Monthly EMI
- The fixed monthly amount this calculation shows for the entered assumptions.
- Total interest
- The total interest paid over the full tenure, at the assumed rate.
- Total payment
- The total of all EMIs paid — principal plus total interest.
Assumptions
- The interest rate stays constant at the entered value for the entire tenure.
- Every EMI is paid on time, with no prepayments, part-payments, or missed instalments.
Limitations
- This calculator does not include processing fees (which can be a meaningful percentage of the loan amount for personal loans), insurance, or prepayment/foreclosure charges.
- It does not check your loan eligibility or the specific rate any lender would actually offer you — personal loan rates depend heavily on individual credit profile and income.
- This is not a loan sanction, offer, or approval of any kind — it is a mathematical illustration only.
Common mistakes
- Assuming personal loan rates are similar to secured loans like home or car loans — they are typically meaningfully higher because the loan is unsecured.
- Not accounting for processing fees, which can be a larger proportion of a personal loan's cost than for larger, longer-tenure secured loans.
Example
For example, a personal loan of ₹5,00,000 over 5 years at an assumed 12% illustrates a monthly EMI in the neighbourhood of ₹11,122, with total interest of about ₹1.67 lakh over the loan.
FAQ
Why are personal loan interest rates usually higher than home loan rates?
Personal loans are usually unsecured — there's no property or asset backing the loan the way a home or car secures those loans — so lenders typically charge a higher rate to offset that additional risk.
Does this include processing fees?
No. This calculator only computes the standard reducing-balance EMI on the principal and interest rate entered — processing fees (which can be a meaningful percentage of the loan for personal loans) and other charges are not included.
Will I get the interest rate I enter here?
Not necessarily. Personal loan rates depend heavily on your credit score, income, and the lender's own criteria, and can vary widely between borrowers — this is an assumption for illustration, not an offer.
Confirm your actual eligibility, sanctioned rate, and any processing fees with a lender before relying on this illustration for real planning.
For illustration only. Not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Returns assumed are hypothetical and not guaranteed.