Calculators · Loans
Personal loan EMI calculator
The EMI and total interest on a personal loan.
Monthly EMI
₹16,369
For 36 months
Principal
₹5 lakh · 85%
Total interest
₹89,297 · 15%
- Loan amount
- ₹5,00,000
- Total interest
- ₹89,297
- Total you repay
- ₹5,89,297
Year by yearShow 3 rowsHide
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹1,48,785 | ₹47,647 | ₹3.51 lakh |
| 2 | ₹1,66,003 | ₹30,430 | ₹1.85 lakh |
| 3 | ₹1,85,212 | ₹11,220 | ₹0 |
How it works
Your EMI is the same every month, but its make-up changes: early instalments are mostly interest, and as the balance falls more of each payment goes towards the principal. The year-by-year schedule shows exactly how.
The calculation uses a reducing balance — interest is charged only on what you still owe — which is how banks and housing finance companies price home, car and personal loans in India.
Formula
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
- P — loan amount
- r — monthly interest rate (annual rate ÷ 12 ÷ 100)
- n — number of monthly instalments
Questions
Why are personal loan rates higher?
Personal loans are unsecured — there is no house or car backing them — so lenders charge more. Your rate depends mostly on your credit score and income.
Can I prepay a personal loan?
Usually after a lock-in period, often with a foreclosure charge of 2–5% of the outstanding amount. Check your loan agreement.
How does tenure affect the total cost?
A longer tenure lowers the EMI but increases the total interest considerably at personal-loan rates. Choose the shortest tenure whose EMI you can comfortably pay.
Results are estimates for planning, not tax, legal or investment advice. Rates and rules were checked on 4 October 2026; confirm the figures that apply to you with your bank, fund house or tax adviser.