Personal Loan Calculator
Planning a personal loan? Work out your monthly EMI, total interest and total payable before you apply — so there are no surprises later.
Personal Loan Calculator
Your monthly EMI, total interest and total payable.
Fixed monthly instalment for the whole loan term.
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How to use this calculator
Type in the loan amount, enter the annual interest rate and choose how many years you will take to repay, then press Calculate. You will see your monthly EMI, the total interest and the total amount payable, with a bar showing the split between principal and interest.
Formula
Equated Monthly Instalment, where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12) and n is the number of monthly payments (years × 12).
Frequently asked questions
What is the difference between a personal loan and a mortgage?
A personal loan is unsecured — you borrow without putting up a property as security, so the rate is usually higher and the term shorter. A mortgage is secured against a property and usually runs for 15–30 years.
Does a longer tenure reduce my EMI?
Yes, a longer tenure lowers the monthly EMI, but you pay much more interest in total. A shorter tenure costs more each month but saves interest.
Are there other costs besides the EMI?
Sometimes. Lenders may charge a processing fee, and late payments can attract penalties. Always check the total cost of the loan, not just the EMI.