Personal Loan · India · ₹ INR

Personal Loan EMI Calculator

Work out the EMI on an unsecured personal loan in seconds and check how much the higher interest rate adds to your total repayment — all in ₹ INR.

Instant, no sign-up Reducing-balance formula Works on any phone

Home Loan EMI

Estimate the EMI on your home loan and see how much interest you'll pay over the tenure.

Loan amount

₹

Interest rate (p.a.)

Loan tenure

Add a prepayment optional

Pay extra to clear the loan early and cut total interest.

Monthly EMI

₹0

Principal amount ₹0

Total interest payable ₹0

Total amount payable ₹0

Principal vs interest

principal

Principal

₹0

Interest

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Repayment by year

Blue = principal repaid · Amber = interest paid, per year

See the trade-off

EMI across different tenures

A longer tenure lowers your monthly EMI but raises the total interest you pay. Here's the same loan at different durations.

Tenure	Monthly EMI	Total interest	Total payable

Based on your current loan amount and interest rate.

Full breakdown

Amortisation schedule

See how each instalment splits between principal and interest, and how your outstanding balance falls over time.

Year	Principal paid	Interest paid	Balance left

Understand your loan

How a Personal Loan EMI is calculated

Personal loans are unsecured, so they carry the highest interest rates — usually 10% to 24% per annum — and shorter tenures of 1 to 5 years. The EMI maths is identical, but the higher rate makes total interest add up quickly.

What is an EMI?

EMI stands for Equated Monthly Instalment — the fixed amount you repay to your lender every month until the loan is fully cleared. Each EMI has two parts: a portion that goes towards the principal (the money you borrowed) and a portion that goes towards the interest (the lender's charge for the loan).

The EMI formula

Banks and NBFCs in India use the reducing-balance method. The standard formula is:

EMI = P × r × (1 + r)ⁿ ÷ [ (1 + r)ⁿ − 1 ]

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

In the early years, a larger share of every EMI goes towards interest. As the outstanding principal shrinks, more of each instalment chips away at the principal — which is exactly what the yearly repayment chart above shows.

Example EMI calculations (India)

Worked examples using the reducing-balance formula above. Your actual EMI depends on the amount, rate and tenure your lender offers — adjust the calculator at the top to match.

Loan type	Amount	Rate (p.a.)	Tenure	Monthly EMI	Total interest	Total payable
Home Loan	₹50,00,000	8.5%	20 years	₹43,391	₹54,13,840	₹1,04,13,840
Home Loan	₹30,00,000	8.75%	15 years	₹29,983	₹23,96,940	₹53,96,940
Car Loan	₹8,00,000	9.5%	7 years	₹13,075	₹2,98,300	₹10,98,300
Personal Loan	₹5,00,000	14%	5 years	₹11,634	₹1,98,040	₹6,98,040

Tips to keep your EMI affordable

Borrow only what you need — the rate is high, so every extra rupee costs more.
Prefer the shortest tenure your budget allows to minimise total interest.
Check the APR including processing fees, not just the headline rate.
A strong credit score and stable income can unlock noticeably lower rates.

Note: This calculator gives an estimate using a fixed interest rate. Actual EMIs may vary with processing fees, GST on charges, floating-rate revisions and your lender's specific terms.

Common questions

EMI FAQs for India

How is loan EMI calculated in India?

Indian lenders use the reducing-balance formula: EMI = P × r × (1+r)ⁿ ÷ [(1+r)ⁿ − 1], where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the tenure in months. The EMI stays fixed, but the interest-to-principal split inside it changes every month.

Does a longer tenure reduce my EMI?

Yes. A longer tenure spreads the principal over more months, so your monthly EMI drops and becomes easier on your budget. The catch is that you pay interest for longer, so the total interest — and the total amount repaid — goes up. Use the comparison table above to see the exact trade-off for your loan.

What is the difference between fixed and floating interest rates?

A fixed rate stays the same for the whole tenure (or a set period), so your EMI is predictable. A floating rate is linked to an external benchmark like the RBI repo rate and can move up or down — when it changes, lenders usually adjust your tenure or your EMI. Home loans in India are most often floating; car and personal loans are usually fixed.

Can I reduce my total interest by prepaying the loan?

Absolutely. Any prepayment goes straight towards the outstanding principal, which lowers the interest charged on every future EMI. As per RBI rules, floating-rate home loans carry no prepayment penalty for individual borrowers. Even one extra EMI a year can shorten your tenure meaningfully.

What is a good CIBIL score to get a low EMI?

A CIBIL score of 750 and above is generally considered good and helps you qualify for the lowest advertised interest rates, which directly lowers your EMI. A lower score may still get you a loan, but usually at a higher rate. Check your score before applying and compare offers from at least three lenders.