Personal Loan EMI Calculator
Calculate EMI and total cost of any personal loan in India.
Last updated: Aug 3, 2026
Disclaimer: Results here are estimates for general understanding only and are not financial, tax, investment or legal advice. Figures assume constant rates and inputs, and may differ from your bank, lender or tax department calculations. Always verify with official sources or a qualified professional before making any financial decision.
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Personal Loan EMI
$$ EMI = P \times \frac{r(1+r)^n}{(1+r)^n - 1} $$
Step 1
$$ P = \text{loan amount} $$
Principal amount you plan to borrow.
Step 2
$$ r = \text{monthly interest rate} $$
Annual rate divided by 12 and converted to decimal.
Step 3
$$ n = \text{number of months} $$
Tenure in months (usually 12 to 60).
Step 4
$$ EMI = P \times r(1+r)^n / ((1+r)^n-1) $$
Fixed monthly payment required.
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About Personal Loan EMI Calculator
Personal loans in India are unsecured and widely used for medical emergencies, weddings, travel, debt consolidation and home renovation. Interest rates typically range from 10.5% to 24% depending on credit score, income and lender. This calculator gives you the exact monthly EMI and total interest so you can compare offers from banks and NBFCs before applying.
Keep EMI under 40–50% of your monthly take-home income for comfortable repayment. Results update live as you change amount, rate or tenure.
Practical Tips (India)
Tip 1: Keep the EMI under 40–50% of take-home pay — lenders check your FOIR before sanctioning a personal loan.
Tip 2: Check the processing fee and foreclosure charges; they change the true cost of the loan.
Tip 3: Personal loan rates in India (2026) typically range from 10.5% to 24%; a CIBIL score above 750 gets the better end of the range.
Frequently Asked Questions
What is the average personal loan interest rate in India?
For salaried applicants with CIBIL above 750, rates often start from 10.5–13%. Self-employed and lower scores face higher rates up to 20–24%.
How long can I take a personal loan for?
Most lenders offer 12 to 60 months. Some NBFCs go up to 72–84 months for larger amounts.
Is there a prepayment penalty?
Many banks now allow foreclosure after 6–12 EMIs with low or zero charges. Always confirm the foreclosure clause before signing.
Does this calculator work for all lenders?
Yes. The EMI formula is standard. Processing fees and insurance (if added) are not included and should be checked separately.
How much personal loan can I get?
Usually 10–20 times monthly salary for salaried individuals, subject to FOIR and credit score. Use the EMI result to reverse-check affordability.