Personal Loan EMI Calculator
Monthly EMI, total interest and total payment for a personal loan.
Monthly EMI
₹10,036
Total interest
₹61,299
Total payment
₹3,61,299
How the personal loan EMI is worked out
Banks use the reducing-balance formula EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P is the loan amount, r the monthly rate and n the number of months. Personal loans are unsecured, so rates depend heavily on your income, employer and credit score.
Tips to lower your EMI
A higher down payment, a better CIBIL score (750+) and comparing offers from 3–4 lenders usually bring the rate down. A longer tenure lowers the EMI but raises the total interest — check both numbers above before you sign.
Frequently asked questions
Does the EMI include processing fees?
No. Processing fees, insurance and GST on fees are charged separately. Ask your bank for the Key Fact Statement (KFS), which RBI requires lenders to share.
Fixed or floating rate?
Most home loans are floating and linked to the repo rate through an external benchmark (EBLR). When RBI changes the repo rate, your rate and EMI or tenure can change.
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Results are estimates for planning only. Confirm final figures with your bank or a tax advisor.
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