Work out the monthly EMI for your personal loan. The values below are only an example, so enter the amount, rate and tenure from your lender's offer.
₹
₹3,00,000 (3 lakh)
%
Monthly EMI
₹9,964
Principal
₹3,00,000
Total interest
₹58,715
Total amount payable
₹3,58,715
How to use
Enter your personal loan amount.
Enter the yearly interest rate from your lender's offer.
Set the tenure in years or months.
See your EMI, total interest and the year-by-year schedule.
About personal loan EMIs
Personal loans are unsecured, so their interest rates are usually higher than home or car loans. Compare the rate and processing fee across lenders.
How much does the interest rate matter?
For a ₹3,00,000 personal loan over 3 years, here is how the EMI and total interest change with the rate. These rates are only examples, not current offers.
Interest rate
Monthly EMI
Total interest
11%
₹9,822
₹53,578
11.5%
₹9,893
₹56,141
12%
₹9,964
₹58,715
12.5%
₹10,036
₹61,299
13%
₹10,108
₹63,895
Before you take a personal loan
Compare the interest rate and the processing fee from at least two or three lenders.
Check whether the rate is fixed or floating, since a floating rate can change during the loan.
Read the prepayment and foreclosure terms.
Keep your EMI comfortably within your monthly budget.
Want to try any other loan? Use the general EMI calculator.
This calculator gives an estimate for planning. Your lender's figures may differ slightly due to rounding, start date, fees or insurance. It is not financial advice.
Frequently asked questions
How do I reduce my personal loan EMI?
You can choose a longer tenure, borrow a smaller amount by paying more upfront, or negotiate a lower interest rate. A longer tenure lowers the EMI but increases the total interest.
Does prepaying the loan help?
Usually yes. A part-prepayment lowers the outstanding balance, so you pay less interest overall. Check your loan agreement for any prepayment charges first.
How is the EMI calculated?
It uses the standard reducing-balance formula used by Indian banks: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), with r as the monthly rate and n as the number of months.