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Personal Loan EMI Calculator

Calculate your monthly personal loan EMI, total interest and total repayment amount instantly.

Formula

How Personal Loan EMI is Calculated

The Equated Monthly Installment (EMI) for a personal loan is calculated using the same standard formula banks and NBFCs use, based on your loan amount, interest rate, and repayment tenure.

EMI Formula

EMI = P × R × (1 + R)N

(1 + R)N − 1

Principal (P)

₹5,00,000.00

Monthly Rate (R)

1.0000%

Tenure (N)

36 Months

Monthly EMI

₹16,607.15

Where: P represents the personal loan amount, R is the monthly interest rate, and N is the total number of monthly installments.

Example

Personal Loan EMI Calculation Example

See how the EMI formula works with a practical example using the values you've entered.

Worked Example

Suppose you take a personal loan of ₹5,00,000.00 at an annual interest rate of 12% for 3 years.

Based on these values, your estimated monthly EMI is ₹16,607.15.

Every monthly EMI consists of two parts:

  • During the initial months, a larger portion of your EMI goes toward paying interest, while only a small portion reduces the principal amount.

  • As your loan progresses, more of each monthly EMI is applied toward reducing the principal, while the interest portion gradually decreases. Since personal loans carry no collateral, lenders often price in a higher rate up front, which makes the early-months interest share noticeably larger than on a secured loan.

Before You Apply

What Lenders Look at for Personal Loans

Personal loans are unsecured, so approval and pricing depend heavily on factors that don't matter as much for secured loans like home or car loans.

Debt-to-Income Ratio

Most lenders want your total EMI obligations, including this new loan, to stay under 40-50% of your monthly income. Keeping it below 30% is considered ideal and generally improves your chances of approval at a better rate.

Credit Score

Since there's no collateral backing the loan, your credit score is the biggest lever on the interest rate you're offered. A score above 750 typically unlocks the lowest available rates.

Shorter Tenure, Less Interest

Personal loan rates are already higher than secured loans, so tenure matters more here. Choosing the shortest tenure you can comfortably afford, rather than the one with the lowest EMI, can meaningfully cut what you pay in interest overall.

Quick check: to keep your total EMI outflow (including this loan) within a healthy 40% debt-to-income ratio, your net monthly income should ideally be at least 2.5 times this EMI amount.

Repayment Schedule

Amortization Schedule

View a month-by-month breakdown of your personal loan repayment, including EMI, principal paid, interest paid, and the remaining loan balance.

Swipe horizontally to view the complete repayment schedule.

MonthEMIPrincipalInterestBalance
1₹16,607.15₹11,607.15₹5,000.00₹4,88,392.85
2₹16,607.15₹11,723.23₹4,883.93₹4,76,669.62
3₹16,607.15₹11,840.46₹4,766.70₹4,64,829.16
4₹16,607.15₹11,958.86₹4,648.29₹4,52,870.30
5₹16,607.15₹12,078.45₹4,528.70₹4,40,791.84
6₹16,607.15₹12,199.24₹4,407.92₹4,28,592.61
7₹16,607.15₹12,321.23₹4,285.93₹4,16,271.38
8₹16,607.15₹12,444.44₹4,162.71₹4,03,826.94
9₹16,607.15₹12,568.89₹4,038.27₹3,91,258.05
10₹16,607.15₹12,694.57₹3,912.58₹3,78,563.48
11₹16,607.15₹12,821.52₹3,785.63₹3,65,741.96
12₹16,607.15₹12,949.74₹3,657.42₹3,52,792.22
13₹16,607.15₹13,079.23₹3,527.92₹3,39,712.99
14₹16,607.15₹13,210.03₹3,397.13₹3,26,502.97
15₹16,607.15₹13,342.13₹3,265.03₹3,13,160.84
16₹16,607.15₹13,475.55₹3,131.61₹2,99,685.29
17₹16,607.15₹13,610.30₹2,996.85₹2,86,074.99
18₹16,607.15₹13,746.40₹2,860.75₹2,72,328.59
19₹16,607.15₹13,883.87₹2,723.29₹2,58,444.72
20₹16,607.15₹14,022.71₹2,584.45₹2,44,422.01
21₹16,607.15₹14,162.93₹2,444.22₹2,30,259.07
22₹16,607.15₹14,304.56₹2,302.59₹2,15,954.51
23₹16,607.15₹14,447.61₹2,159.55₹2,01,506.90
24₹16,607.15₹14,592.09₹2,015.07₹1,86,914.82
25₹16,607.15₹14,738.01₹1,869.15₹1,72,176.81
26₹16,607.15₹14,885.39₹1,721.77₹1,57,291.42
27₹16,607.15₹15,034.24₹1,572.91₹1,42,257.18
28₹16,607.15₹15,184.58₹1,422.57₹1,27,072.60
29₹16,607.15₹15,336.43₹1,270.73₹1,11,736.17
30₹16,607.15₹15,489.79₹1,117.36₹96,246.38
31₹16,607.15₹15,644.69₹962.46₹80,601.68
32₹16,607.15₹15,801.14₹806.02₹64,800.55
33₹16,607.15₹15,959.15₹648.01₹48,841.40
34₹16,607.15₹16,118.74₹488.41₹32,722.66
35₹16,607.15₹16,279.93₹327.23₹16,442.73
36₹16,607.15₹16,442.73₹164.43₹0.00
Frequently Asked Questions

Personal Loan EMI Calculator FAQs

Find answers to the most common questions about personal loan EMI, interest rates, eligibility, and repayment.

Disclaimer

This calculator provides estimates for educational and informational purposes only. Results are based on the values you enter and may differ from actual figures due to lender policies, taxes, fees, market conditions, or other factors.

The information on this page should not be considered financial, investment, tax, or legal advice. Before making any financial decision, consult a qualified Chartered Accountant (CA), financial advisor, or tax professional.

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