Personal Loan EMI Calculator
Calculate EMI, total interest payable, and repayment schedule for your personal loan.
Loan Details
Processing fee: ₹5,000 (one-time charge)
Monthly EMI
₹17,089
₹5,00,000
₹1,15,196
Total Payable
₹6,15,204
Total Cost (incl. fee) ₹6,20,204
Year-wise Repayment Breakdown
Amortization Schedule
Enter part-payments to see their impact on remaining balance
| Year | Opening | Principal | Interest | Part-Payment | Closing |
|---|---|---|---|---|---|
| Yr 1 | ₹5,00,000 | ₹1,44,079 | ₹60,987 | ₹3,55,921 | |
| Yr 2 | ₹3,55,921 | ₹1,65,595 | ₹39,469 | ₹1,90,326 | |
| Yr 3 | ₹1,90,326 | ₹1,90,325 | ₹14,740 | ₹0 |
Personal Loan Rates — Top Banks (2025)
Click any row to apply that bank's starting rate to the calculator
| Bank | Interest Rate (p.a.) | Max Loan | Max Tenure | |
|---|---|---|---|---|
| SBI | 11.00–14.00% | ₹20L | 6 yrs | |
| HDFC Bank | 10.75–24.00% | ₹40L | 5 yrs | |
| ICICI Bank | 10.85–16.25% | ₹50L | 6 yrs | |
| Axis Bank | 11.25–21.50% | ₹40L | 5 yrs | |
| Bajaj Finserv | 13.00–26.00% | ₹35L | 5 yrs | |
| Kotak Mahindra | 10.99–24.00% | ₹35L | 5 yrs |
* Rates are indicative and subject to change. Final rate depends on credit score, income, and bank policy.
Results are indicative. Part-payment assumes reduce-tenure approach (EMI stays constant).
Personal Loan EMI Calculator — India 2025
A personal loan is an unsecured loan you can use for any purpose — medical expenses, home renovation, wedding, travel, or debt consolidation. Before applying, it is essential to calculate your EMI to ensure it fits within your monthly budget. The JanSevaPlus Personal Loan EMI Calculator instantly computes your monthly EMI, total interest outgo, and shows the full repayment schedule.
You can also add part-payments to see how making extra payments reduces your loan tenure and saves interest. The bank rate comparison table below helps you choose the lender with the lowest rate — clicking any bank row auto-fills the interest rate for quick comparison.
How to Calculate Personal Loan EMI
Where P = Principal, r = Monthly rate (annual% ÷ 1200), n = Tenure in months.
Example: ₹5 lakh at 14% for 3 years → EMI = ₹17,090/month, Total interest = ₹1,15,240, Total payable = ₹6,15,240.
Factors That Affect Personal Loan EMI
Credit Score
A CIBIL score above 750 gets you the lowest rates. Below 650 may lead to rejection.
Loan Amount
Higher loan amounts mean higher EMIs. Borrow only what you need.
Tenure
Longer tenure = lower EMI but more total interest. Shorter tenure = higher EMI but less interest.
Interest Rate
Even a 1% difference in rate significantly changes total interest on longer tenures.
Frequently Asked Questions — Personal Loan
What is a personal loan EMI?
A personal loan EMI (Equated Monthly Instalment) is the fixed monthly amount you repay to your bank or NBFC. It includes both the principal and interest components. Since personal loans are unsecured (no collateral), lenders charge higher interest rates than home or car loans.
What is the typical personal loan interest rate in India in 2025?
Personal loan interest rates in India range from 10.75% to 26% p.a. depending on your lender, credit score, income, and employment type. Public sector banks like SBI offer rates starting from 11%, while private banks (HDFC, ICICI) start around 10.75–10.85%. NBFCs like Bajaj Finserv charge 13% or more.
How is personal loan EMI calculated?
EMI = P × r × (1+r)ⁿ / [(1+r)ⁿ - 1], where P = loan amount, r = monthly interest rate (annual rate ÷ 12 ÷ 100), n = tenure in months. For a ₹5 lakh loan at 14% for 3 years: EMI = ₹17,090/month, total interest = ₹1.15 lakh.
What is a processing fee on a personal loan?
Processing fee is a one-time charge deducted upfront from the loan amount, typically 1–3% of the principal. For a ₹5 lakh loan with 2% processing fee, you pay ₹10,000 upfront. Our calculator shows the true total cost including processing fee.
What is the minimum salary required for a personal loan?
Most banks require a minimum net monthly salary of ₹15,000–₹25,000 for salaried applicants. Self-employed individuals typically need an annual income of ₹2–3 lakhs. Lenders also consider your FOIR (Fixed Obligation to Income Ratio) — your total EMI obligations should not exceed 40–50% of income.
Can I prepay or foreclose a personal loan early?
Yes. For floating-rate personal loans, RBI guidelines prohibit prepayment penalties. For fixed-rate loans, banks may charge 2–5% of the outstanding amount as a foreclosure charge. Check your loan agreement before prepaying. Our calculator shows exactly how much you save with part-payments.
Does a personal loan affect my CIBIL score?
Taking a personal loan temporarily reduces your credit score by a few points due to the hard inquiry. However, timely repayment of EMIs consistently over time improves your credit score significantly. Missing even one EMI can drop your score by 50–100 points.
Disclaimer: All calculations are indicative. Actual EMI and eligibility depend on your lender's policies and your credit profile.
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