Personal Loan EMI Calculator

Your details

The total amount you are borrowing from the lender.
The annual percentage rate (APR) quoted by your lender. Typical personal loan rates in India range from 10% to 24%.
% p.a.
Choose whether you want to enter the loan tenure in months or in years.
How long you have to repay the loan. Common personal loan tenures are 12 to 60 months (1 to 5 years).
months
One-time upfront fee charged by most lenders, typically 1% to 3% of the loan amount. It is deducted from the disbursed amount and increases the effective cost of borrowing.
% of loan
Currency
Monthly EMIModerate cost
₹16,607.15

Fixed amount payable each month

Total interest payable₹97,857.58
Total amount payable₹597,857.58
Processing fee amount₹0.00
Effective annual cost12%
Principal borrowed₹500,000.00
Tenure in months36
Principal₹500,000.00
Total interest₹97,857.58

Your monthly EMI is based on 12% p.a. over 36 months.

  • You will pay 19.6% of the borrowed amount as interest over the 36-month tenure.
  • Total interest of your loan amounts to more than the principal itself if the rate exceeds ~30%. At 12% p.a. your interest is 16.4% of total repayment.
  • Making even one extra payment per year toward the principal can significantly reduce total interest paid and shorten your tenure.

Next stepCheck whether your lender allows part-prepayments without penalty; a lump-sum payment in the early months reduces interest substantially because most interest is front-loaded.

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