Personal Loan EMI Calculator
A ₹5 lakh personal loan at 12% for 3 years has an EMI of about ₹16,607, and you repay about ₹97,858 in interest.
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Personal loans are unsecured and usually carry higher interest rates and shorter tenures than home loans.
Example
A ₹5,00,000 personal loan at 12% for 3 years has an EMI of about ₹16,607 and total interest of about ₹97,858.
Personal Loan EMI Calculator scenarios
| Loan amount | EMI — 2 years | EMI — 3 years | EMI — 5 years | Interest over 5 years |
|---|---|---|---|---|
| ₹1.00 lakh | ₹4,707 | ₹3,321 | ₹2,224 | ₹33,467 |
| ₹3.00 lakh | ₹14,122 | ₹9,964 | ₹6,673 | ₹1,00,400 |
| ₹5.00 lakh | ₹23,537 | ₹16,607 | ₹11,122 | ₹1,67,333 |
| ₹10.00 lakh | ₹47,073 | ₹33,214 | ₹22,244 | ₹3,34,667 |
| ₹20.00 lakh | ₹94,147 | ₹66,429 | ₹44,489 | ₹6,69,334 |
What changes the result
- Your credit score, income and employer, which lenders use to set the rate.
- Tenure: longer tenures lower the EMI but increase total interest.
- Processing fees (often a percentage of the loan) and GST on them, which raise the true cost.
- Prepayment or foreclosure charges, which are common on fixed-rate personal loans.
How to use this calculator
- Enter the loan amount you need.
- Enter the interest rate quoted by the lender.
- Enter the tenure.
- Read the EMI and total interest, and compare offers at different rates.
Personal Loan EMI Calculator FAQs
Why are personal loan rates higher?
There is no collateral, so lenders price in more risk.
Is personal loan interest tax-deductible?
Generally no. It may be claimed only in specific cases, such as when the money is used to buy or build a house or for a business, subject to the relevant rules.
Flat rate vs reducing balance — what is the difference?
This calculator uses the reducing-balance method, where interest is charged on the outstanding amount. A “flat” rate charges interest on the full loan for the whole tenure, so the same headline rate costs much more.
Results are estimates for planning only and are not financial, tax or investment advice. Check figures with your bank, fund house or tax adviser before acting on them.