Personal Loan EMI Calculator
Enter your loan amount, interest rate, and tenure to see your monthly EMI, total interest payable, and a full amortization schedule — calculated instantly in your browser.
A personal loan EMI is the fixed monthly payment that repays the loan amount plus interest over the tenure you choose. Personal loans are unsecured, meaning no collateral backs them, so rates are typically higher than on home loans. Three things set your EMI: the amount, the interest rate, and the tenure. Processing fees and other charges are not part of this calculation, so ask your lender what they are.
To use the calculator, enter the amount you want to borrow, the annual rate you have been quoted (or an estimate), and the tenure in months. The EMI, total interest, and a month-by-month schedule update as you type.
Loan Details
Personal loan tenures are typically 12–84 months.
Your EMI
This is an estimate, not an offer. The figures above are indicative calculations based on the numbers you entered and standard industry formulas/rules of thumb. They are not a loan/insurance quote, a pre-approval, or a guarantee of approval by any bank, NBFC, or insurer. Actual eligibility, interest rate, premium, and approval are decided solely by the lender/insurer after their own underwriting and verification.
Amortization Schedule
| Month | EMI | Principal | Interest | Balance |
|---|
What Moves Your EMI
Every row below is for a ₹5,00,000 loan.
| Interest rate | Tenure | Monthly EMI | Total interest |
|---|---|---|---|
| 12% | 36 months | ₹16,607 | ₹97,858 |
| 12% | 60 months | ₹11,122 | ₹1,67,333 |
| 12% | 84 months | ₹8,826 | ₹2,41,415 |
| 10% | 60 months | ₹10,624 | ₹1,37,411 |
| 14% | 60 months | ₹11,634 | ₹1,98,048 |
Stretching the tenure from 36 to 84 months roughly halves the EMI but more than doubles the interest you pay. A higher rate raises both.
Where to Go Next
- Personal Loan Eligibility Calculator — estimate how much you may be able to borrow before you apply.
- FOIR Calculator — check what share of your income the new EMI would take.
- Loan Prepayment Calculator — see how much interest a prepayment could save.
Frequently Asked Questions
How is personal loan EMI calculated?
EMI is calculated using the standard reducing-balance formula: EMI = [P × R × (1+R)^N] / [(1+R)^N − 1], where P is the loan amount, R is the monthly interest rate, and N is the number of monthly instalments.
Does a higher tenure always mean lower total cost?
No. A longer tenure lowers your monthly EMI but increases the total interest you pay over the life of the loan. Use the amortization schedule below to compare.
Is the EMI shown here exactly what my bank will offer?
No. This is an indicative estimate based on the numbers you enter. Your actual EMI depends on the lender’s approved rate, processing fees, and underwriting.