Personal Loan Calculator
Calculate your personal loan EMI, total cost, and compare across different tenures.
Tenure Comparison
| Tenure | EMI | Total |
|---|---|---|
| 12mo (1.0yr) | ₹44,424.39 | ₹533,092.73 |
| 24mo (2.0yr) | ₹23,536.74 | ₹564,881.67 |
| 36mo (3.0yr) | ₹16,607.15 | ₹597,857.58 |
| 48mo (4.0yr) | ₹13,166.92 | ₹632,012.05 |
| 60mo (5.0yr) | ₹11,122.22 | ₹667,333.43 |
Repayment Schedule (First 12 Months)
| Month | EMI | Balance |
|---|---|---|
| 1 | ₹16,607.15 | ₹488,392.85 |
| 2 | ₹16,607.15 | ₹476,669.62 |
| 3 | ₹16,607.15 | ₹464,829.16 |
| 4 | ₹16,607.15 | ₹452,870.30 |
| 5 | ₹16,607.15 | ₹440,791.84 |
| 6 | ₹16,607.15 | ₹428,592.61 |
| 7 | ₹16,607.15 | ₹416,271.38 |
| 8 | ₹16,607.15 | ₹403,826.94 |
| 9 | ₹16,607.15 | ₹391,258.05 |
| 10 | ₹16,607.15 | ₹378,563.48 |
| 11 | ₹16,607.15 | ₹365,741.96 |
| 12 | ₹16,607.15 | ₹352,792.22 |
EMI in Other Currencies
Personal Loan Guide
A personal loan is an unsecured loan that doesn't require collateral. It can be used for any purpose including medical emergencies, weddings, travel, debt consolidation, or home renovation. Due to the unsecured nature, interest rates are typically higher than secured loans like home or car loans.
Key Factors Affecting Interest Rate
Your credit score is the most important factor. A score above 750 can get you rates as low as 10-11%. Other factors include your income, employment type (salaried vs self-employed), existing debt obligations, and relationship with the bank. Always compare rates across multiple lenders.
Choose the Right Tenure
Shorter tenures mean higher EMIs but significantly lower total interest. A 5-year personal loan can cost nearly double the interest compared to a 2-year loan. Choose the shortest tenure where the EMI comfortably fits within 30-40% of your monthly income.