Personal Loan Calculator
Free personal loan EMI calculator: enter the amount, interest rate and tenure to see your monthly EMI, total interest, total payable and a yearly schedule.
Personal Loan EMI Calculator — Calculate Your Personal Loan Repayment
Personal loans are unsecured, instantly approved, and convenient — but they usually cost more than secured loans such as home or car loans. Before you accept an offer, calculate the true cost. Our Personal Loan EMI Calculator shows the exact monthly payment, total interest, and repayment schedule.
Enter the loan amount, interest rate, and tenure in years. Get the EMI, total interest, and a year-wise amortisation schedule instantly. No signup, no cost.
How to Calculate Personal Loan EMI
1. Enter Loan Amount
Enter the amount you want to borrow. How much a lender offers depends on your income and credit score.
2. Interest Rate
Enter the rate offered to you; it depends on the lender and your credit profile.
3. Set Tenure
Enter the tenure in years; personal loans usually run 1 to 5 years. Choose what fits your budget.
4. View Result
See monthly EMI, total interest, total payable, and a year-wise schedule.
Personal Loan Calculator Features
Visual Breakdown
A chart shows how much of everything you repay is the loan amount and how much is interest.
Year-by-Year Schedule
See how much principal and interest you pay each year, and the balance left, over the whole loan.
Compare Lenders
Run multiple scenarios — bank vs NBFC, 36 months vs 48 months — to find the cheapest total repayment.
Multiple Currencies
Show amounts in any of 20 currency symbols, from the rupee and US dollar to the euro, pound and yen. Only the symbol changes; nothing is converted.
Type or Slide
Drag a slider, or type an exact figure into the box beside it — typed amounts can go past the end of the slider.
Free and Private
No signup, no tracking. Runs entirely in your browser.
How the Personal Loan EMI Is Calculated
The calculator uses the standard reducing-balance formula: EMI = P × r × (1 + r)n ÷ [(1 + r)n − 1], where P is the loan amount, r is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments (years × 12). Total payment is EMI × n, and total interest is the total payment minus P.
For the schedule, each month’s interest is the balance still owed × r, and the rest of the instalment repays principal. The table adds up the twelve months of each year.
Worked example: a personal loan of ₹5,00,000 at 12% a year for 3 years (the calculator’s starting values).
- r = 12 ÷ 12 ÷ 100 = 0.01 a month, and n = 36 instalments.
- EMI = ₹16,607 a month.
- Total payment = ₹5,97,858, so the total interest is ₹97,858.
- In year 1 you pay ₹52,078 of interest and ₹1,47,208 of principal, leaving ₹3,52,792 to repay.
Amounts are rounded to the nearest rupee on screen; the calculation itself is not rounded, so multiplying the rounded figures can differ by a few rupees.