Personal Loan EMI Calculator
Calculate EMI, total interest, and amortization schedule for personal loans
Loan Details
₹
%
Typical range: 10% - 24% p.a.
years
Lower Your EMI:
• Opt for longer tenure (but you'll pay more interest)
• Negotiate for lower interest rate
• Increase down payment amount
Monthly EMI
₹11,122
Principal Amount
₹5,00,000
Total Interest
₹1,67,333
Loan Summary
Loan Amount₹5,00,000
Monthly EMI₹11,122
Interest Rate12% p.a.
Loan Tenure5 years (60 months)
Total Interest₹1,67,333
Total Amount Payable₹6,67,333
Payment Breakdown
Principal74.9%
Interest25.1%
EMI Comparison:
3 years tenure:₹16,607
5 years tenure:₹11,122
7 years tenure:₹8,826
What is a Personal Loan?
A personal loan is an unsecured loan that doesn't require collateral. You can use it for any purpose like medical emergencies, home renovation, wedding expenses, or debt consolidation.
Since it's unsecured, interest rates are typically higher than secured loans like home loans or car loans. EMI (Equated Monthly Installment) remains fixed throughout the tenure.
Tips for Personal Loans
- •Compare interest rates from multiple lenders
- •Check for processing fees and prepayment charges
- •Maintain good credit score (750+) for better rates
- •Borrow only what you need, avoid over-borrowing
- •Consider prepayment to reduce interest burden