Personal Loan EMI Calculator

Plan your personal loan repayments with our EMI calculator and amortization schedule.

Accurate EMI calculations
Detailed amortization schedule
Visual repayment breakdown
Personal Loan Planning
₹
Enter loan amount (₹50,000–₹50,00,000).
Principal amount of the personal loan.
%
Enter interest rate (10–20%).
Annual interest rate for the loan.
Years
Enter tenure (1–7 years).
Duration of the loan repayment.

Loan Repayment Summary

Monthly EMI
₹0
Total Interest
₹0
Total Payment
₹0
Loan Tenure
0 Years
How Personal Loans Work
Borrow Funds

Take a loan for personal needs like travel or medical expenses.

Pay EMI

Repay through fixed monthly installments.

Reduce Interest

Prepayments lower interest and tenure.

YearOpening Balance (₹)EMI (₹)Interest Paid (₹)Principal Paid (₹)Prepayment (₹)Closing Balance (₹)

What is a Personal Loan?

A personal loan is an unsecured loan offered by banks or financial institutions for personal expenses like travel, medical emergencies, or debt consolidation, repaid through Equated Monthly Installments (EMIs).

Interest rates typically range from 10–20%, and tenures extend up to 7 years. Prepayments can reduce interest costs and shorten the loan tenure.

Did You Know?

A ₹10 lakh loan at 12% for 5 years has an EMI of ~₹22,244!

Benefits of Personal Loans

Unsecured loans require no assets as security.

Fast processing and disbursal for urgent needs.

Use funds for any purpose without restrictions.

Frequently Asked Questions

EMI is calculated using the formula: EMI = P * r * (1 + r)^n / ((1 + r)^n - 1), where P is the loan amount, r is the monthly interest rate, and n is the number of months.

Yes, prepayments reduce the principal, lowering interest costs and potentially shortening the tenure.

Generally, personal loan interest is not tax-deductible unless used for specific purposes like business or home improvement.