Personal Loan EMI Calculator

Enter your loan amount, annual interest rate and repayment tenure to instantly see your monthly EMI, total interest payable and the total amount repayable.

Loan Details

Loan Inputs

Loan Amount

Annual Interest Rate

Nominal annual rate divided by 12 to derive the monthly rate.

Loan Tenure

= 3 years

First Payment Date

Each subsequent payment falls one month later, using the last valid day of short months.

Results

Monthly EMI

—

Outstanding balance over time

Payment composition

Principal: — Interest: —

Total amount paid over the loan = principal + interest.

Monthly Amortization Schedule

Month-by-month view of the loan. The final row shows the closing balance after the last scheduled payment.

Monthly amortization schedule showing payment number, payment date, opening balance, interest, payment, principal repaid, closing balance, cumulative interest, and cumulative payments
#	Date	Opening	Interest	Payment	Principal	Closing	Cum. Int.	Cum. Pay

Calculation Assumptions

Interest accrues monthly at the annual rate divided by 12 and is paid as part of each scheduled EMI.

Each EMI is applied first to interest, then to principal repayment.

The EMI is calculated using the standard reducing-balance formula, so interest is charged only on the outstanding balance.

Payment dates follow a calendar-month convention, using the last valid day of short months.

Real lenders may apply processing fees, insurance, daily interest, business-day adjustments, or different maturity conventions; actual results may differ.

EMI projections are estimates based on the loan amount, interest rate, tenure and other assumptions entered. Actual payments, interest charges and maturity obligations may differ because of lender-specific terms, fees, day-count conventions and market conditions. This calculator is for informational purposes only and is not financial advice.

Quotelyo Calculators

Explore more free calculators

Loans, savings, investing, retirement, real estate and business calculators. Free to use, no signup required.

Search calculators

Investing SIP Project the value of regular monthly mutual fund investments. Loans Home Loan EMI Calculate your monthly EMI on a home loan. Investing Star SIP Project the value of your monthly Star SIP investments. Investing Union Bank SIP Estimate returns on a Union Bank SIP. Investing NJ SIP Calculate the future value of your NJ SIP. Investing SIP Agent Commission Work out the commission an agent earns on SIPs. Investing Tata Ethical Fund SIP Project growth of a monthly SIP in Tata Ethical Fund. Investing SIP Calculator Excel Sheet Download a ready-to-use SIP calculator spreadsheet. Investing SIP Commission Estimate the commission earned on SIP investments. Investing SBI Bluechip Fund SIP Project returns on a monthly SIP in SBI Bluechip Fund. Tax & Salary Gratuity Estimate the gratuity payable when you leave an employer. Tax & Salary GST Add or remove GST from any price. Loans Personal Loan EMI Find the monthly EMI on a personal loan. Tax & Salary Salary Break down your salary into monthly and yearly figures. Tax & Salary Salary Hike See your new salary after a percentage raise. Tax & Salary HRA Estimate your House Rent Allowance. Investing CAGR Find the compound annual growth rate of an investment. Tax & Salary Income Tax (India) Estimate your income tax liability in India. Loans Gold Loan EMI Calculate monthly EMI on a loan against gold. Real Estate Property Tax Estimate the annual tax on a property. Tax & Salary Take-Home Salary See your net pay after deductions. Loans Education Loan EMI Plan repayments on a student education loan. Investing Position Size Size a trade based on your risk per trade. Tax & Salary GST Reverse Find the base price from a GST-inclusive amount. Tax & Salary TDS Calculate tax deducted at source. Loans Credit Card EMI Convert a card purchase into monthly EMIs. Business Gross Margin Find the share of revenue left after cost of goods. Investing Mutual Fund Project mutual fund growth over time. Savings Annual Percentage Yield Convert a rate into the yield you really earn. Tax & Salary Old vs. New Tax Regime Compare tax under the old and new regimes. Loans Two-Wheeler Loan EMI Estimate EMI on a bike or scooter loan. Investing Forex Profit Work out profit or loss on a currency trade. Real Estate Rental Property Analyze income and costs of a rental property. Tax & Salary HRA Exemption Find the tax-exempt part of your HRA. Tax & Salary VAT Add or remove value-added tax from a price. Retirement Retirement Age Find the age you can afford to retire. Business Gross Profit Subtract cost of goods from revenue. Savings Fixed Deposit Estimate maturity value of a fixed deposit. Retirement Retirement Corpus Find the nest egg you need to retire. Business Operating Cash Flow Measure cash generated by core operations. Investing Dividend Growth Project dividends growing year after year. Bonds Treasury Bill Estimate the return on a T-bill. Investing Crypto Profit Work out profit or loss on a crypto trade. Real Estate Airbnb Profit Estimate net income from a short-term rental. Real Estate First-Time Home Buyer Plan the costs of buying your first home. Investing Lumpsum Project the growth of a one-time investment. Tax & Salary Sales Tax Add or remove sales tax from a price. Real Estate Rental Property ROI Measure the return on a rental investment. Investing Dividend Income Estimate income from your dividend holdings. Real Estate Mortgage Refinance See if refinancing your mortgage pays off. Business EBITDA Earnings before interest, taxes, depreciation and amortization. Tax & Salary CTC to In-Hand Salary Convert annual CTC into monthly take-home pay. Investing Risk-Reward Ratio Compare potential profit to potential loss. Investing Step-Up SIP Project a SIP that increases every year. Business Net Profit Find profit after all expenses and taxes. Real Estate Rental Cash Flow See monthly cash flow from a rental. Savings Sukanya Samriddhi Yojana Project maturity value of an SSY account. Loans Home Loan Balance Transfer Check savings from moving your home loan. Retirement Retirement Savings Project your savings by retirement day. Investing Futures Profit Calculate profit or loss on a futures trade. Investing Stop Loss Set a stop-loss level based on risk. Business SaaS Valuation Estimate a SaaS company's value from revenue. Investing Pip Value Find the value of one pip in a forex trade. Business Free Cash Flow Cash left after operating costs and capex. Business Return on Assets Measure profit earned from total assets. Business ARR Annual recurring revenue from your subscriptions. Business Return on Equity Measure profit earned on shareholder equity. Investing Mutual Fund Overlap Spot duplicate holdings across funds. Loans Education Loan Eligibility Estimate how much education loan you can get. Real Estate Rent Affordability Find the rent that fits your income. Investing Portfolio Risk Estimate the volatility of your portfolio. Retirement Retirement Income Project the income your savings can provide. Business Operating Margin Share of revenue left after operating costs. Savings Post Office MIS Estimate monthly income from the Post Office MIS. Investing Required Rate of Return Find the minimum return an investment must earn. Investing STP Plan a systematic transfer between funds. Savings Monthly Budget Plan your income and spending each month. Investing P/E Ratio Compare share price with earnings per share. Investing DCF Valuation Value a business from discounted cash flows. Investing PEG Ratio Adjust the P/E ratio for earnings growth. Tax & Salary Mutual Fund Tax Estimate tax on mutual fund gains. Loans Debt Consolidation See if combining debts lowers your cost. Investing Mutual Fund Returns Measure returns on your mutual fund investment. Business EBITDA Margin EBITDA as a share of revenue. Investing Price-to-Book Ratio Compare market price with book value. Retirement Atal Pension Yojana Find your contribution and pension under APY. Savings FD vs. RD Compare fixed and recurring deposit returns. Investing Goal SIP Find the SIP needed to reach a goal. Investing SIP vs. Lumpsum Compare investing monthly with investing at once. Retirement Senior Citizen Savings Scheme Estimate SCSS interest and maturity value. Real Estate Mortgage Points Weigh the cost of points against a lower rate. Savings 50/30/20 Budget Split income into needs, wants and savings. Business Operating Profit Profit from core operations before interest and tax. Business ROCE Return on capital employed. Business Unit Economics See profit per customer or unit sold.

PERSONAL FINANCE GUIDE

Personal Loan EMI Calculator: Calculate Your Monthly Payments

A Personal Loan EMI Calculator helps you estimate how much you may need to pay every month towards a personal loan. Enter your loan amount, annual interest rate and repayment tenure to understand your estimated monthly instalment, total interest payable and overall repayment amount before applying for a loan.

Whether you need money for a medical expense, home renovation, education, travel or an unexpected financial requirement, understanding your repayment commitment is an important part of borrowing responsibly. This calculator lets you compare different loan amounts, interest rates and repayment periods so you can choose a combination that fits your monthly budget.

What Can You Calculate?

Review the main figures associated with a personal loan in one place instead of calculating each amount manually.

Monthly Loan EMI

Estimate the fixed monthly instalment required to repay your loan over the selected tenure, based on your entered interest rate.

Total Interest Payable

Understand the estimated interest cost over the entire repayment period and see how different loan terms affect the borrowing cost.

Total Repayment Amount

Calculate the combined principal and interest repayments to understand the estimated total cost of your loan, excluding additional charges.

How to Use the Personal Loan EMI Calculator

Follow these simple steps to estimate your personal loan repayments and compare different borrowing scenarios.

Enter the Loan Amount

Enter the principal amount you plan to borrow or the amount offered by your lender. Borrow only what you reasonably need.

Enter the Interest Rate

Use the annual interest rate quoted by your bank or lender. If you are comparing offers, update this value for each offer.

Select the Loan Tenure

Enter the repayment period in the units requested by the calculator. A tenure of 3 years, for example, equals 36 monthly instalments.

Review Your EMI and Interest

Check your estimated EMI, total interest and total repayment. Change your inputs to compare a shorter or longer tenure before making a decision.

Personal Loan EMI Calculation Formula

Under the standard reducing-balance method, the monthly EMI is calculated using the principal amount, monthly interest rate and total number of monthly instalments. The EMI generally remains constant when the rate and repayment terms remain unchanged, while the split between principal and interest changes over time.

Standard EMI Formula

EMI = P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ − 1]

Use the following definitions to understand the formula and how the calculator estimates your monthly payment.

P — Principal The loan amount on which interest and repayments are calculated.

r — Monthly Rate Annual interest rate divided by 12 and then by 100. For 12% per year, r = 0.01.

n — Instalments The total number of monthly payments over the selected loan tenure.

If the interest rate is zero, the EMI is simply the principal divided by the number of monthly instalments. Actual lender calculations may vary according to the agreed loan terms and interest calculation method.

Personal Loan EMI Calculation Example

Suppose you borrow ₹5,00,000 at an annual interest rate of 12% for a repayment period of 3 years. With a monthly reducing interest rate of 1% and 36 instalments, the estimated EMI can be calculated using the formula above.

Illustrative Loan Breakdown

Loan amount: ₹5,00,000 Interest rate: 12% p.a. Tenure: 36 months

Estimated Monthly EMI ₹16,607.15

Total Interest Payable ₹97,857.58

Total Repayment ₹5,97,857.58

These figures are illustrative calculations rounded to two decimal places. They assume a constant 12% annual rate, monthly reducing-balance interest and 36 equal instalments. Processing fees, insurance and other additional charges are excluded.

Factors That Affect Your Personal Loan EMI

Your personal loan EMI is mainly influenced by the amount borrowed, the applicable interest rate and the repayment tenure. Understanding how each factor works can help you compare loan offers more effectively.

Factor	Effect on Monthly EMI	Effect on Total Interest
Loan amount	A higher principal generally increases the EMI when the rate and tenure remain the same.	A higher principal generally increases the total interest paid over the same period.
Interest rate	A higher interest rate generally results in a higher monthly instalment.	A higher rate generally increases the total interest cost.
Loan tenure	A longer tenure generally reduces the monthly EMI by spreading repayments over more months.	A longer tenure generally increases the total interest paid when other factors remain equal.
Credit profile	A lender may offer a different interest rate depending on its assessment of your credit profile and repayment capacity.	The offered rate can affect the overall interest cost, even when the principal and tenure are unchanged.

How Does Loan Tenure Affect Your EMI?

Choosing a loan tenure involves balancing the monthly instalment against the overall borrowing cost. A longer repayment period can make monthly payments smaller, but you generally pay interest for more months. A shorter period usually reduces the total interest cost but requires a higher monthly EMI.

For example, when comparing a 3-year personal loan with a 5-year loan of the same amount at the same interest rate, the 5-year option will generally have a lower EMI but a higher total interest cost. Use the calculator to compare the actual estimates for your loan amount and proposed interest rate.

Select a repayment period that fits your income, existing EMIs, essential expenses and savings goals. Do not choose the longest tenure solely because it offers the smallest monthly payment.

Tips for Planning Your Personal Loan Repayment

Borrow only what you need. A smaller principal generally means a smaller EMI and lower total interest when other terms remain unchanged.
Compare interest rates from different lenders. Calculate each offer using the same loan amount and tenure to make the comparison meaningful.
Check the total repayment, not just the EMI. A low monthly payment does not necessarily mean a less expensive loan overall.
Review all fees and charges. Processing fees, optional insurance and other applicable costs may affect the overall amount you pay or the net amount you receive.
Read the Key Facts Statement (KFS). Review the annual percentage rate (APR), disclosed charges and repayment schedule provided by your lender before accepting the offer.
Leave room for unexpected expenses. Make sure the EMI fits your budget after regular household costs, existing debt payments and essential savings.
Check prepayment and foreclosure conditions. If you may repay early, review your lender's applicable terms and charges before making a decision.

Frequently Asked Questions

What is a personal loan EMI?

EMI stands for Equated Monthly Instalment. It is the scheduled amount you pay towards repaying a loan every month. Under a standard fixed-rate EMI arrangement, the payment includes both principal and interest. The portion allocated to interest is generally higher in the earlier instalments, while the principal portion increases as the outstanding balance decreases.

How can I calculate my personal loan EMI?

Enter your loan principal, annual interest rate and repayment tenure into the calculator. The monthly rate is obtained by dividing the annual rate by 12 and 100, and the number of instalments is the tenure in months. The standard reducing-balance EMI formula is then used to estimate your monthly repayment.

Does a longer loan tenure reduce the EMI?

Generally, yes. Extending the tenure spreads repayment across more months and reduces the monthly instalment for the same principal and interest rate. However, the loan usually costs more in total interest because the outstanding amount is repaid over a longer period.

Does the EMI include processing fees?

The standard EMI formula calculates principal and interest; it does not automatically include separate processing fees, insurance premiums or other charges. Such charges may be payable upfront or deducted from the disbursed amount, depending on the loan terms. Check the lender's KFS and APR to understand the disclosed overall cost of borrowing.

Can this calculator guarantee loan approval?

No. A personal loan EMI calculator estimates repayments from the information entered. It does not approve an application or confirm your eligibility. A lender makes its own assessment of income, employment, credit history, existing obligations and other applicable eligibility criteria.

Does my actual EMI ever change?

Your actual payment depends on your loan agreement. For a fixed-rate loan with unchanged terms, the scheduled EMI normally remains constant. If your loan has a floating interest rate, a rate change may affect your EMI or repayment tenure according to your lender's policy and agreement.

Can I reduce my total personal loan interest?

You can compare lower-rate offers, borrow only the necessary amount and choose the shortest tenure whose EMI you can comfortably afford. Depending on your loan agreement, eligible part-prepayments or early repayment may also reduce future interest. Review applicable charges and conditions before acting.

Is the personal loan EMI result exact?

The result is an estimate based on the inputs and assumptions used by the calculator. The lender's actual repayment schedule may differ because of rounding, disbursement dates, interest calculation conventions, rate changes or other loan-specific terms. Confirm the final EMI and repayment schedule in your lender's offer documents.