Personal Loan EMI Calculator
Calculate monthly EMI, total interest, and repayment schedule for personal loans
Unit: ₹
Unit: %
Unit: months
Monthly EMI
₹16,488
Total Interest
₹93,568
Total Repayment
₹5,93,568
How this calculator works
Free personal loan EMI calculator for India — monthly EMI, total interest payable, and total repayment amount.
Quick tips
- •Personal loan interest is not tax-deductible in India, so borrow only what you need.
- •A shorter tenure means higher EMI but significantly lower total interest.
- •Maintain a CIBIL score above 750 to get the best rates from banks.
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Personal Loan EMI Calculator
Use this personal loan EMI calculator to estimate your monthly installment, total interest outgo, and total repayment for unsecured personal loans in India.
Formula: EMI = [P × R × (1+R)^N] / [(1+R)^N – 1]
- Personal loan interest is not tax-deductible in India, so borrow only what you need.
- A shorter tenure means higher EMI but significantly lower total interest.
- Maintain a CIBIL score above 750 to get the best rates from banks.
Frequently Asked Questions
What is a personal loan EMI?
EMI is a fixed monthly payment that covers both principal repayment and interest on a personal loan until the loan is fully repaid.
Can I prepay a personal loan in India?
Yes. RBI permits prepayment on floating-rate loans without penalty after 6 months. Fixed-rate loans may have a 2-4% foreclosure charge.