Personal Loan EMI Calculator
This free personal loan EMI calculator is built for unsecured lending in India. Personal loans carry the highest interest rates — typically 10.5% to 24% as of FY 2026-27 — and shorter tenures of 1 to 5 years. Enter the loan amount (usually ₹50,000 to ₹50 lakh), the annual rate your lender quoted and the tenure to instantly see your monthly EMI, total payment, total interest and a month-by-month amortization schedule. Everything runs on your device — no sign-up, no data leaving your browser.
How to use Personal Loan EMI Calculator
- 1
Enter the loan amount
Type the principal — for example 500000 for a ₹5,00,000 loan.
- 2
Set the annual interest rate
Use the rate quoted by your lender, e.g. 13%.
- 3
Choose the tenure
Enter 1 to 5 years, with extra months if needed.
- 4
Check affordability
Read the monthly EMI and total interest, then compare with a shorter tenure.
Calculate EMI for personal loans
Personal loans are unsecured, so lenders price them with higher rates and shorter tenures than home or car loans. The EMI still follows the standard formula: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1). Interest is charged on the outstanding balance, so early EMIs are interest-heavy and the principal is repaid faster in later months.
Short tenure vs total interest
On a ₹5,00,000 loan at 13%, a 3-year term costs about ₹1,06,700 in interest, while stretching to 5 years pushes total interest to roughly ₹1,84,100. The monthly EMI drops from about ₹16,853 to ₹11,380 — a temptation that costs nearly ₹77,400 extra. Run both here and decide consciously.
Higher interest rate warning
Because personal loans are unsecured, rates are 2 to 3 times a home loan rate. A small rate difference matters enormously at these levels: on a 3-year ₹5 lakh loan, moving from 12% to 16% raises the EMI by about ₹330 and adds roughly ₹11,900 in interest over the term.
Compare affordability before you borrow
Banks generally expect your total monthly obligations to stay below 50% of income. Use this calculator to check that the EMI fits your cash flow for the whole tenure — not just the first few months — before applying.
Examples
Typical 3-year personal loan
- Input
- ₹5,00,000 at 13% for 3 years
- Output
- Monthly EMI ≈ ₹16,853 · Total interest ≈ ₹1,06,700
Extended 5-year tenure
- Input
- ₹5,00,000 at 13% for 5 years
- Output
- Monthly EMI ≈ ₹11,380 · Total interest ≈ ₹1,82,800
Frequently asked questions
How is personal loan EMI calculated?
Using the standard formula EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly payments. The calculator also shows total interest and the amortization schedule.
Why is personal loan interest higher?
Personal loans are unsecured — there is no asset the lender can repossess — so lenders charge higher rates (typically 10.5% to 24%) to cover the added risk. Rates depend on your credit score, income and the lender.
Can I use this for salary loan EMI?
Yes. Salary loans and other unsecured personal loans are amortized the same way. Enter the amount, the rate from your bank or employer's scheme and the tenure.
What happens if I choose a longer tenure?
Your monthly EMI falls, but total interest rises substantially — on a ₹5 lakh loan at 13%, extending from 3 to 5 years adds roughly ₹76,000 in interest. Prefer the shortest tenure your budget allows.
Is this private?
Yes. The EMI calculation runs entirely in your browser and no loan data is uploaded or stored anywhere.
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Last updated 12 August 2026