Personal Loan EMI Calculator
Use this personal loan EMI calculator to plan an unsecured loan before you apply. See monthly EMI, total interest and a month-by-month repayment schedule.
Personal Loan Details
Principal vs Interest
Distribution of your total payment
Yearly Breakdown
Principal and interest paid each year (first 15)
Amortization Schedule
| Month | Opening Balance | EMI | Principal | Interest | Closing Balance |
|---|---|---|---|---|---|
| 1 | ₹3,00,000 | ₹10,108 | ₹6,858 | ₹3,250 | ₹2,93,142 |
| 2 | ₹2,93,142 | ₹10,108 | ₹6,932 | ₹3,176 | ₹2,86,209 |
| 3 | ₹2,86,209 | ₹10,108 | ₹7,008 | ₹3,101 | ₹2,79,202 |
| 4 | ₹2,79,202 | ₹10,108 | ₹7,084 | ₹3,025 | ₹2,72,118 |
| 5 | ₹2,72,118 | ₹10,108 | ₹7,160 | ₹2,948 | ₹2,64,958 |
| 6 | ₹2,64,958 | ₹10,108 | ₹7,238 | ₹2,870 | ₹2,57,720 |
| 7 | ₹2,57,720 | ₹10,108 | ₹7,316 | ₹2,792 | ₹2,50,404 |
| 8 | ₹2,50,404 | ₹10,108 | ₹7,395 | ₹2,713 | ₹2,43,008 |
| 9 | ₹2,43,008 | ₹10,108 | ₹7,476 | ₹2,633 | ₹2,35,533 |
| 10 | ₹2,35,533 | ₹10,108 | ₹7,557 | ₹2,552 | ₹2,27,976 |
| 11 | ₹2,27,976 | ₹10,108 | ₹7,638 | ₹2,470 | ₹2,20,338 |
| 12 | ₹2,20,338 | ₹10,108 | ₹7,721 | ₹2,387 | ₹2,12,617 |
Frequently Asked Questions
Personal Loan EMI Calculator — Plan Your Unsecured Loan Before You Apply
Why Personal Loan EMI Is Higher Than Other Loans
Personal loans are unsecured — you offer no collateral to back them. That higher risk for the lender translates directly into higher interest rates, typically 10.5% to 24% per annum in India in 2026, compared to 8.4–9.65% for home loans or 9–12% for gold loans.
The gap is larger than it looks in EMI terms. Consider the same ₹5 lakh borrowed over 5 years: a home loan at 9% costs ₹10,377/month, while a personal loan at 14% costs ₹11,634/month — a difference of ₹1,257 every month, adding up to ₹75,400 more in total interest over the loan tenure.
A useful rule of thumb: every 1% extra rate on a ₹5 lakh 3-year personal loan costs approximately ₹780 extra in total interest. Use the calculator above to see exactly how much each percentage point costs on your specific loan amount.
Personal Loan EMI Calculation Example
Let's work through a concrete example: ₹3 lakh personal loan at 13% p.a. for 3 years (36 months).
Monthly rate: r = 13 ÷ 12 ÷ 100 = 0.01083
Total amount paid = ₹10,114 × 36 = ₹3,64,104. Total interest paid = ₹64,104 — that is 21% of the ₹3 lakh principal, paid purely as interest cost over 3 years. The calculator above shows this breakdown instantly, along with a full month-by-month amortization schedule.
The True Cost of Processing Fees
Processing fees of 1%–3% + 18% GST are charged upfront on personal loans and are not refundable — even if you repay the loan early. On a ₹3 lakh loan with a 2% fee:
- Processing fee: ₹3,00,000 × 2% = ₹6,000
- GST on fee: ₹6,000 × 18% = ₹1,080
- Total upfront cost gone on day one: ₹7,080
Your effective loan disbursement is ₹2,92,920, yet you pay EMI on the full ₹3 lakh. This is why comparing lenders on the APR (Annual Percentage Rate), which folds in the processing fee, is far more accurate than comparing the stated interest rate alone. Always request the APR from every lender before signing.
FOIR — How Much EMI Can You Afford?
FOIR stands for Fixed Obligation to Income Ratio. Banks structure personal loan eligibility so that your total monthly EMI commitments — existing loans plus the new one — stay within 50%–60% of your gross monthly income.
Example: With a gross monthly income of ₹60,000, your maximum total EMI burden is ₹30,000–₹36,000. If you already pay ₹15,000/month on existing loans, you can comfortably add at most ₹15,000–₹21,000 in new EMI. Use the personal loan EMI calculator above to find the exact loan amount and tenure combination that keeps your EMI within this FOIR ceiling.
Personal Loan vs Gold Loan vs Top-Up Home Loan
Before committing to a personal loan, consider whether a cheaper secured alternative is available to you:
- Own gold jewellery or coins? A gold loan at 9%–12% can be significantly cheaper than a personal loan at 14%–24%. Gold loans are also processed within hours with minimal documentation. Calculate and compare at our gold loan EMI calculator.
- Have an existing home loan? A top-up home loan from the same lender is almost always cheaper than a personal loan and carries longer tenures. Check your options on our home loan EMI calculator.
- Consolidating existing debt? Before taking a personal loan to pay off other loans, model the total interest cost across all options using our loan comparison tool — you may find a single lower-rate consolidation loan saves more than expected.
A personal loan makes the most sense when you need funds quickly, have no collateral to offer, and the total interest cost is acceptable relative to the benefit the loan provides. Always calculate the true cost first, then decide.