Personal Loan EMI Calculator
Calculate your monthly EMI for a personal loan.
Your inputs
Reducing-balance EMI. Personal loans are unsecured, so rates run higher than home or car loans.
Amortization schedule
Click a year to see the month-by-month principal/interest split.
| Year | Principal paid | Interest paid | Closing balance |
|---|---|---|---|
| Year 1 | ₹87,383 | ₹33,915 | ₹2,12,617 |
| Year 2 | ₹99,445 | ₹21,853 | ₹1,13,172 |
| Year 3 | ₹1,13,172 | ₹8,127 | ₹0 |
Tenure comparison
| Tenure | EMI | Total interest |
|---|---|---|
| 2 years | ₹14,263 | ₹42,301 |
| 3 years | ₹10,108 | ₹63,895 |
| 5 years | ₹6,826 | ₹1,09,555 |
| 7 years | ₹5,458 | ₹1,58,437 |
What if you prepay?
A one-time prepayment of ₹60,000 (about 20% of your loan), EMI unchanged, could save an estimated ₹20,865 in interest and shorten your tenure by roughly 8 months.
Calculate detailed prepayment savingsEstimates only. Figures are indicative and do not constitute financial advice.
About the Personal Loan EMI Calculator
"Personal loan EMI calculator" is searched specifically because personal loans have their own typical rate ranges — they're unsecured, meaning no collateral backs them, which is exactly why their interest rates run noticeably higher than home or car loans.
This calculator uses the same reducing-balance EMI formula as any loan, but is tuned to personal loan ranges — shorter tenures (usually 1-7 years) and higher interest rates (commonly 10-24% depending on your credit score and lender). Personal loans are popular for consolidating debt, funding a wedding, medical expenses, or any need where you want funds quickly without pledging an asset — but that convenience comes at a real cost, so knowing your exact EMI and total interest before applying matters. Use this to compare offers from different lenders, see how a better credit score would reduce your EMI, or check whether a shorter tenure at a slightly higher EMI saves meaningfully on total interest paid.
How to use this calculator
- Enter your loan amount.
- Enter the interest rate offered.
- Enter your desired tenure.
- See your monthly EMI and total interest.
Frequently asked questions
›Why are personal loan interest rates higher than home loans?
Personal loans are unsecured (no collateral), making them riskier for lenders, who compensate with higher interest rates compared to secured loans like home or car loans.
›What credit score do I need for a good personal loan rate?
Most lenders offer their best rates to borrowers with a credit score of 750 or above; lower scores typically mean higher rates or loan rejection.
›Can I prepay a personal loan?
Most lenders allow prepayment, though some charge a prepayment penalty — check your specific loan's terms before planning an early payoff.
›How does tenure affect my personal loan EMI and interest?
A shorter tenure means a higher EMI but noticeably less total interest paid; a longer tenure lowers the EMI but increases total interest — see the tenure comparison table below for your exact numbers across 2/3/5/7 years.
What affects personal loan emi?
- Loan amount
- A larger principal produces a proportionally higher EMI and total interest at the same rate and tenure.
- Interest rate
- Personal loan rates depend heavily on your credit score and lender — even a few percentage points' difference changes total interest meaningfully.
- Tenure
- Longer tenures reduce the EMI but increase total interest paid over the life of the loan.
- Prepayment
- A lumpsum prepayment reduces outstanding principal, cutting the remaining interest — see the prepayment section below for an estimate.
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Personal Loan EMI Calculator: EMI on ₹10,000 to ₹10 Lakh