Free Personal Loan EMI Calculator
Personal loans have higher interest rates than home or car loans, so check the full cost before you borrow. Enter the details to see your EMI and total cost.
Note: Results are estimates for learning and planning. They are not financial, tax or investment advice, and actual figures from your bank or lender may differ. See our disclaimer.
How to use Personal Loan EMI Calculator
- Enter the loan amount.
- Enter the interest rate your lender offers.
- Enter the tenure in years and the processing fee.
- Click Calculate EMI.
About this tool
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1). For example, a ₹3,00,000 loan at 12% for 3 years has an EMI of about ₹9,964 and total interest of about ₹58,700. Personal loans are unsecured, so rates are usually higher and the processing fee adds to the cost. Compare lenders on the total cost, not only the EMI. Taxes on the fee, insurance and other charges are not included.
Frequently asked questions
Why are personal loan rates higher?
Personal loans are unsecured, so lenders take more risk and usually charge more.
What is a processing fee?
A one-time charge by the lender, often a percentage of the loan. It adds to your total cost.
Can I use months?
Use decimals in years, such as 1.5 for 18 months.
How can I lower the interest I pay?
Choose a shorter tenure, borrow less, compare lenders, or prepay when you can.
Is my data stored?
No. Everything runs in your browser.