Personal Loan EMI Calculator

Personal loans are unsecured, so rates are higher and tenures shorter than secured borrowing. Enter the amount, rate and tenure to see the EMI and what the loan costs you over its life.

A ₹4,00,000 loan at 14% over 4 years has an EMI of ₹10,931, and costs ₹1,24,662 in total interest.

Personal loan amount

₹

Interest rate (per year)

Personal loan rates depend heavily on your credit score and income.

Loan tenure

Monthly EMI

₹10,931

for 4 years

Principal

₹4,00,000

Total interest

₹1,24,662

Total payment

₹5,24,662

Principal vs interest

Principal: ₹4,00,000 (76.2%)
Total interest: ₹1,24,662 (23.8%)

Compare tenures

EMI and total interest at different tenures
Tenure	EMI	Total interest	Total payment
1 year	₹35,915	₹30,978	₹4,30,978
2 years	₹19,205	₹60,924	₹4,60,924
3 years	₹13,671	₹92,158	₹4,92,158
4 years	₹10,931	₹1,24,662	₹5,24,662
5 years	₹9,307	₹1,58,446	₹5,58,446

Amortisation schedule

How each instalment splits between interest and principal.

Monthly EMI

₹10,931

4 years

What it is:: An EMI calculator for unsecured personal loans.
What it calculates:: Monthly EMI, total interest and total repayment across common tenures.

Assumptions

The EMI is computed on the sanctioned amount, not the amount credited after fees.
Rates depend heavily on credit score and employer profile.
Foreclosure charges are excluded.

How it works

The EMI uses the same reducing-balance formula as any other loan. What differs is the rate, which reflects the absence of collateral and depends heavily on your credit score and income.

Lenders typically deduct a processing fee from the disbursal, so the amount credited to your account can be lower than the sanctioned amount even though the EMI is calculated on the full sanction.

Formula

EMI = P x r x (1 + r)^n / ((1 + r)^n - 1)

P: = loan amount (principal)
r: = monthly interest rate = annual rate / 12 / 100
n: = tenure in months

At 0% interest the formula collapses to EMI = P / n, which is what no-cost EMI offers use.

Example calculation

A ₹4,00,000 personal loan at 14% for 4 years

Loan amount: ₹4,00,000
Interest rate: 14% a year
Tenure: 4 years
Monthly EMI: ₹10,931
Total interest: ₹1,24,662
Total payment: ₹5,24,662

Frequently asked questions

What rate will I be offered?

It depends mainly on your credit score, income and employer profile. Published rates are the best case; the rate in your sanction letter is the one to put into this calculator.

Is the processing fee included in the EMI?

No. It is usually deducted from the disbursal or charged separately, while the EMI is calculated on the sanctioned amount.

Can I prepay a personal loan?

Most lenders allow it after a lock-in of a few EMIs, often with a foreclosure charge on the outstanding principal. Check the charge before prepaying.

Personal loan or credit card EMI?

For larger amounts a personal loan is usually cheaper. For small purchases with a genuine no-cost offer, card EMI can work out better. Compare the total cost from both calculators.