Find out exactly what a personal loan will cost you each month. Enter the loan amount, interest rate and tenure to see your EMI, the total interest, and what you'll repay in all.
Example: A ₹5,00,000 loan at 12.5% for 3 years (36 months) gives an EMI of about ₹16,725 — total interest ≈ ₹1,02,100.
Monthly EMI on a ₹1,00,000 personal loan. Multiply for your loan size (e.g. a ₹5 lakh loan = EMI below × 5).
| Interest Rate | 1 Year | 3 Years | 5 Years |
|---|---|---|---|
| 10.0% | ₹8,792 | ₹3,227 | ₹2,125 |
| 12.0% | ₹8,885 | ₹3,321 | ₹2,224 |
| 14.0% | ₹8,979 | ₹3,418 | ₹2,327 |
| 16.0% | ₹9,073 | ₹3,516 | ₹2,432 |
| 18.0% | ₹9,168 | ₹3,615 | ₹2,539 |
| 20.0% | ₹9,263 | ₹3,716 | ₹2,649 |
Personal loans carry higher rates than home or car loans because they're unsecured — no collateral backs them.
A personal loan is an unsecured loan — you don't pledge any asset. Banks lend based on your income and credit score, and you repay in fixed monthly instalments.
In India, personal loan rates typically run from about 10% to 24% per year. Your rate depends on your credit score, income, employer and the lender.
Most lenders offer 10 to 24 times your monthly salary, subject to your existing EMIs. A common rule is that all your EMIs together shouldn't exceed 50% of your monthly income.
A one-time charge, usually 1%–3% of the loan amount, deducted before the money reaches you. On a ₹5 lakh loan at 2%, you'd receive ₹4,90,000 but repay on the full ₹5,00,000.
Yes. Applying creates a hard enquiry which dips your score slightly. Paying EMIs on time builds it back up; missing payments damages it significantly.
Usually yes, often after 6–12 EMIs. Many lenders charge a foreclosure fee of 2%–5% on the outstanding amount, so check your agreement before prepaying.
A personal loan is almost always cheaper. Credit card interest runs 36%–48% per year, while personal loans stay in the 10%–24% range.
Typically ID proof, address proof, PAN card, salary slips for the last 3 months and bank statements for the last 6 months. Self-employed applicants need ITR and business proof.
This calculator is for estimates only. Actual EMI, fees and rates depend on your lender and profile. For financial decisions, confirm figures with your bank.