Estimate your monthly installment before you apply.
Your Estimated Monthly EMI
₹16,110
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This calculator is for illustration only. Actual EMI, interest rate, and tenure depend on the lender's assessment of your profile.
Year-by-year breakdown of your personal loan repayment.
| Year | Principal (₹) | Interest (₹) | Total Payment (₹) | Balance (₹) | Loan Paid To Date |
|---|---|---|---|---|---|
| 2026 | 48,537 | 15,903 | 64,440 | 4,51,463 | 9.71% |
| 2027 | 1,55,560 | 37,761 | 1,93,320 | 2,95,903 | 40.82% |
| 2028 | 1,71,679 | 21,643 | 1,93,320 | 1,24,225 | 75.16% |
| 2029 | 1,24,225 | 4,656 | 1,28,880 | 0 | 100% |
Download your full month-by-month repayment schedule
EMI (Equated Monthly Instalment) is the fixed amount you repay each month until your personal loan is fully paid off. It consists of the principal amount and interest incurred. For fixed-rate personal loans, the EMI amount stays constant throughout the loan tenure.
Personal loan EMI consists of the principal component and the interest component. During the early phase, the interest component is high, whereas the principal component is considerably low.
Under the reducing-balance method, interest is calculated on the remaining principal after each payment. With time, the interest component keeps on decreasing, and the principal component keeps on increasing.
In addition to your salary, your debt-to-income ratio is considered while calculating your loan eligibility. For a Rs. 10 lakh loan and keeping total EMIs under 55% of your monthly income, you typically need a net monthly income of ₹40,000-₹50,000, provided your DTI is zero.
No, a lower EMI signals a longer tenure and significantly higher total interest paid over the loan tenure. Choosing the longest tenure reduces the monthly burden but maximises the total interest.
You should select the loan amount and tenure that balances your affordability without severely impacting your cash flow.
A longer loan tenure will help you manage your immediate cash crunch but will make you pay a substantially higher total interest during the loan period.
The table mentioned below shows EMI examples at 12% annual interest and 3-year tenure. Use the calculator above to customise the loan amount, rate, and tenure to arrive at an optimum result.
| Loan Amount | Rate | Tenure | Monthly EMI | Total Interest | Total Repayment |
|---|---|---|---|---|---|
| ₹2 Lakh Loan EMI | 12% p.a. | 3 yr | ₹ 6,643 | ₹ 39,143 | ₹ 2,39,143 |
| ₹5 Lakh Loan EMI | 12% p.a. | 3 yr | ₹ 16,607 | ₹ 97,858 | ₹ 5,97,858 |
| ₹10 Lakh Loan EMI | 12% p.a. | 3 yr | ₹ 33,214 | ₹ 1,95,715 | ₹ 11,95,715 |
| ₹15 Lakh Loan EMI | 12% p.a. | 3 yr | ₹ 49,821 | ₹ 2,93,573 | ₹ 17,93,573 |
| ₹20 Lakh Loan EMI | 12% p.a. | 3 yr | ₹ 66,429 | ₹ 3,91,430 | ₹ 23,91,430 |
Last updated: 2026-08-14
Find answers to common questions about calculating EMIs, interest rates, and loan foreclosure.
You need three primary details: the principal loan amount, the applicable interest rate (per annum), and the loan tenure (in months or years).
Yes, for fixed-rate personal loans, the EMI remains constant throughout the tenure. However, for floating-rate loans, the EMI may change if the lender revises the base interest rate.
No, EMI only covers the principal repayment and the interest. Processing fees, GST, and other charges are usually deducted upfront from the disbursed loan amount.
Yes, you can use our calculator for any loan amount, whether it's a small personal loan of ₹50,000 or a large home loan up to ₹5 Crores.
Personal loan interest rates typically range from 10.5% to 24% per annum, depending on your credit score, income, employer, and the lending institution.
A higher interest rate increases your monthly EMI and the total interest payable. Even a 1% difference in the interest rate can significantly impact your overall repayment amount.
Yes, most banks and NBFCs in India calculate personal loan interest on a reducing balance method, meaning interest is charged only on the outstanding principal, not the original loan amount.
Foreclosure means paying off your entire outstanding personal loan balance in a single payment before the end of your chosen tenure.
Yes, many lenders charge a foreclosure fee ranging from 2% to 5% of the outstanding principal amount, plus applicable taxes.
It is generally beneficial to foreclose early in the loan tenure when the interest component is highest. Foreclosing towards the end of the tenure yields minimal interest savings.
We work exclusively with RBI-regulated banks & NBFCs to secure the best rates and terms for you.
