Personal Loan EMI Calculator
Calculate your personal loan EMI, total interest payable, and generate a complete amortization schedule. Compare loan amounts, tenures, and rates side by side.
Your Monthly EMI
₹6,643
Principal
₹2,00,000
Total Interest
₹39,143
Total Payable
₹2,39,143
Breakdown
Principal: ₹2,00,000 (84%)
Total Interest: ₹39,143 (16%)
Interest-to-Principal: 19.6%
📊 Interactive EMI Breakdown
Principal vs Interest
Year-by-Year Payment Split
CIBIL Score Insight (India)
Check typical credit score requirements for personal loan eligibility
A higher CIBIL score improves your approval chances and may help you negotiate a lower interest rate. Personal loans are unsecured, so lenders place greater emphasis on CIBIL score. Higher scores unlock better rates.
Any Bank: General industry preference across all types of lenders.
⚠️ CIBIL score ranges shown are typical industry preferences. Actual eligibility and interest rates depend on lender policy, income, existing obligations, employment, property profile, and documentation. Learn more about CIBIL Score →
Personal Loan Scenario Comparison
| Metric | Your plan | +1% Interest (13.0%) | +12 Months (48mo) |
|---|---|---|---|
| Monthly EMI | ₹6,643 | ₹6,739 ↑ ₹96 | ₹5,267 ↓ ₹1,376 |
| Total Interest | ₹39,143 | ₹42,596 ↑ ₹3,453 | ₹52,805 ↑ ₹13,662 |
| Total Payable | ₹2,39,143 | ₹2,42,596 | ₹2,52,805 |
Popular Personal Loan EMI Amounts
📐 How Personal Loan EMI is Calculated
Determine loan amount
Net monthly salary ₹60,000 × 50% maximum EMI ratio= Maximum EMI: ₹30,000/month
Identify rate and tenure
14% p.a. (reducing balance) for 3 years (36 months)= Monthly rate r = 14/12/100 = 0.01167
Calculate EMI
EMI = P × r × (1+r)^36 / [(1+r)^36 − 1]= On ₹5L loan: EMI = ₹17,087
Calculate total cost
₹17,087 × 36 months= Total repayment: ₹6,15,132 | Interest: ₹1,15,132
Rate Comparison
3-Year Tenure
₹17,087/mo
Total interest: ₹1,15,132 | Faster payoff, lower total cost
5-Year Tenure
₹11,634/mo
Total interest: ₹1,98,040 | Saves ₹5,453/mo but costs ₹82,908 more
The EMI-to-Income Trap
💡 How Personal Loan EMI Is Calculated
Personal Loan vs. Other Loan Types — When to Choose Each
| Loan Type | Rate (2026) | Amount | Collateral | Best For |
|---|---|---|---|---|
| Personal Loan | 10.5–24% | Up to ₹50L | None | Medical emergency, wedding, debt consolidation |
| Home Loan | 8.5–9.5% | Up to ₹10 Cr | Property | Buying real estate; tax-deductible interest |
| Gold Loan | 8–15% | Up to ₹1 Cr | Gold | Short-term cash need with gold as collateral |
| Loan vs. Credit Card | 10.5% vs. 36–48% | — | None | Personal loan always beats credit card EMIs |
| Education Loan | 8–12% | Up to ₹75L | Co-applicant | Higher education; Section 80E tax benefit |
Smart Prepayment Strategy — When and How Much to Prepay
Prepaying a personal loan reduces your outstanding principal, which reduces future interest. The optimal time to prepay is in the first half of the tenure when interest constitutes the majority of each EMI.
On a ₹5 lakh loan at 14% for 3 years:
- Prepaying ₹1 lakh in Month 3: Saves ₹34,500 in interest, reduces tenure by 10 months
- Prepaying ₹1 lakh in Month 18 (halfway): Saves ₹17,200 in interest, reduces tenure by 6 months
- Prepaying ₹1 lakh in Month 30: Saves only ₹5,800 — much less effective
Check for prepayment charges (2–5% of outstanding amount). If the penalty exceeds the interest saved, prepayment is not worthwhile.
Balance Transfer — How to Reduce Your Rate Mid-Loan
A personal loan balance transfer moves your outstanding principal to a new lender at a lower interest rate. It makes sense when: (1) the new rate is at least 2% lower, (2) you have significant tenure remaining, and (3) balance transfer fees + new processing fee are less than total interest savings.
Example: ₹3 lakh outstanding at 20% with 24 months remaining. Transfer to 14%: new EMI = ₹14,423 (vs. ₹15,286). Monthly saving = ₹863. Over 24 months: ₹20,712 saved. If transfer costs ₹5,000 (fees), net saving = ₹15,712.