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Finance Calculators

Personal Loan EMI Calculator

Verified formula Updated Jun 2026 Private — runs on your device

Enter details
₹
%
5 years
1 years7 years
Verified formula Private

Monthly EMI

₹11,634

Principal amount
₹5,00,000
Total interest
₹1,98,048
Total payment
₹6,98,048
View chart data
Principal amount500000
Total interest198048

For general information only — not financial, tax, legal or medical advice. Verify before you rely on it.

How to use the Personal Loan EMI Calculator

The Personal Loan EMI Calculator works out your monthly emi, along with 3 related figures in an instant. Enter loan amount, interest rate (p.a.) and loan tenure and the result updates as you type — it is free, needs no sign-up, and runs entirely in your browser so your figures stay private.

  1. Enter the loan amount.
  2. Enter the interest rate (p.a.).
  3. Set the loan tenure.
  4. Read off your monthly emi, together with principal amount, total interest and total payment — the calculator updates automatically, with no button to press.

Worked example

For example, with loan amount of ₹500,000, interest rate (p.a.) of 14% and loan tenure of 5 years, the monthly emi is ₹11,634.

Inputs used
Loan amount ₹500,000
Interest rate (p.a.) 14%
Loan tenure 5 years
Results
Monthly EMI ₹11,634
Principal amount ₹5,00,000
Total interest ₹1,98,048
Total payment ₹6,98,048

Results are estimates for educational use, not professional advice.

Key terms explained

EMI
Equated Monthly Instalment — the fixed monthly payment on a loan covering both interest and principal.
Interest rate
The percentage charged on a loan or paid on savings, usually quoted per year (per annum).
Principal
The original sum of money borrowed or invested, before any interest is added.
Tenure
The length of time over which a loan is repaid or an investment is held.

Frequently asked questions

It uses EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the loan, r the monthly interest rate and n the number of months. Personal loans usually carry higher rates than secured loans.

Personal loans are unsecured — there is no collateral — so lenders charge a higher rate to offset the added risk compared with home or car loans.

Most lenders allow prepayment or foreclosure, sometimes with a small fee. Prepaying reduces the outstanding principal and the total interest you pay.

Indirectly — a higher credit score can get you a lower interest rate, which reduces your EMI for the same loan amount and tenure.

Enter the loan amount. Enter the interest rate (p.a.). Set the loan tenure. Read off your monthly emi, together with principal amount, total interest and total payment — the calculator updates automatically, with no button to press.

How Loan EMIs Work: A Complete Guide

Understand exactly how your loan EMI is calculated, why early payments are mostly interest, how tenure and rate change the total cost, and how prepayment saves you money — with worked examples.

4 min read

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