Calculate your personal loan EMI, total interest and full repayment schedule instantly. Free, accurate, no signup required.
Monthly EMI
₹16,607
Total Interest
₹97,858
Total Payment
₹5,97,858
EMI = P × r × (1+r)ⁿ
÷ [(1+r)ⁿ − 1]
P = Loan amount
r = Monthly interest rate
n = Tenure in months
✓Personal loans carry higher rates — compare 3+ lenders first
✓A shorter tenure saves significantly on total interest
✓Check your CIBIL score before applying
✓Watch for processing fees (often 1-3% of loan amount)
✓Avoid taking a new loan to repay an existing one
A personal loan is an unsecured loan — no property, gold or asset needs to be pledged as collateral. Banks and NBFCs approve it based on your income, employment stability and CIBIL score, and funds can be used for anything: medical emergencies, weddings, travel, home renovation or debt consolidation.
Because there's no collateral backing the loan, interest rates are higher than secured loans like home or car loans — typically 10.5% to 24% per annum in India.
EMI = P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ − 1]
P = Principal loan amount
r = Monthly interest rate = Annual rate ÷ 12 ÷ 100
n = Loan tenure in months
Example
₹5 lakh personal loan at 12% for 3 years → EMI = ₹16,607/month. Total interest = ₹97,847.
Step 1 — Enter your desired loan amount using the slider.
Step 2 — Set the interest rate quoted by your bank or NBFC.
Step 3 — Choose your preferred tenure in months.
Step 4 — Instantly see your monthly EMI, total interest and total repayment.
Step 5 — Expand the amortization schedule for a month-by-month breakdown.
Indicative rates — confirm with bank before applying
| Bank | Rate (p.a.) | EMI per ₹1L / 5 yr |
|---|---|---|
| SBI | 10.50% – 15.00% | ₹2,146 |
| HDFC Bank | 10.50% – 21.00% | ₹2,146 |
| ICICI Bank | 10.75% – 19.00% | ₹2,158 |
| Axis Bank | 10.25% – 24.00% | ₹2,134 |
| Kotak Mahindra | 10.99% – 20.00% | ₹2,170 |
| Bajaj Finserv | 11.00% – 35.00% | ₹2,171 |
Most banks and NBFCs offer personal loans between 10.5% and 24% p.a., depending on your credit score, income and existing relationship with the bank.
No. Personal loans are unsecured — no property, gold or asset needs to be pledged. Approval is based on income and CIBIL score.
Most banks disburse within 24-72 hours if documents and credit score are in order. Some NBFCs offer same-day disbursal.
A CIBIL score of 750+ gets you the best rates. Scores below 650 make approval difficult or come with much higher interest.
Yes, most lenders allow prepayment after 6-12 EMIs, usually with a 2-5% foreclosure charge on the outstanding amount.
Only if the loan is used for business purposes or home renovation/purchase — then interest may qualify under Section 24(b) or as a business expense. Personal use (travel, wedding, etc.) gets no tax benefit.
🎯
Instant Results
Get EMI, interest & total in real-time as you move sliders.
📋
Amortization Schedule
Full month-by-month breakdown of every payment.
🔒
100% Private
No login, no signup. All calculations in your browser.
📱
Mobile Friendly
Works perfectly on any device — phone, tablet or desktop.
Explore related financial calculators to plan your finances better