Personal Loan EMI Calculator
Personal loans are typically borrowed for 1-5 years at 10-24% interest. Because the rate is high, even a short tenure produces meaningful total interest. Use this calculator to see how your EMI and total interest change with each variable.
By FinancePaisa Editorial Team · Research & editorialUpdated
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Compare lenders’ current rates on the loan rates page.
years
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Paid after every 12th EMI, with the EMI kept the same so the loan closes sooner.
What this means
Every ₹1 lakh you borrow costs ₹3,274 a month on these terms.
Your monthly EMI₹16,369
Principal 85%Interest 15%
Principal₹5.00 lakh
Total interest₹89,297
Total you repay₹5,89,297
Could you pay it off faster? Try the prepayment calculatorYear-by-year schedule
| Year | Principal paid | Interest paid | Split | Balance at year end |
|---|---|---|---|---|
| 1 | ₹1,48,785 | ₹47,647 | ₹3,51,215 | |
| 2 | ₹1,66,003 | ₹30,430 | ₹1,85,212 | |
| 3 | ₹1,85,212 | ₹11,220 | ₹0 |
- Year 1Balance ₹3,51,215Principal ₹1,48,785Interest ₹47,647
- Year 2Balance ₹1,85,212Principal ₹1,66,003Interest ₹30,430
- Year 3Balance ₹0Principal ₹1,85,212Interest ₹11,220
Figures use the standard reducing-balance method and are rounded to the nearest rupee. Your lender's schedule may differ slightly because of rounding and the date of your first EMI.
Personal loan reality check
A ₹5 lakh personal loan at 11% for 3 years has an EMI of ₹16,369 and total interest of ₹89,296. Stretching the tenure to 5 years drops the EMI to ₹10,871 but pushes total interest up to ₹1.52 lakh - almost ₹63,000 extra.
Tips for personal-loan borrowers
- Borrow only what you truly need, not what you're offered
- Prefer 24-36 month tenures over 5-year ones
- Negotiate processing fee - most banks flex 0.5-1%
- Check foreclosure conditions before signing
- Never take a personal loan to invest in equities or crypto
Frequently asked questions
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