Personal Loan EMI Calculator
Calculate the EMI, total interest and repayment schedule for a personal loan at any rate and tenure — and see how much the loan really costs.
Monthly EMI
₹13,414
over 48 months at 13% p.a.
Principal amount
₹5,00,000
Total interest
₹1,43,860
Total repayment
₹6,43,860
Interest as % of loan
29%
- Principal
- Total Interest
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Principal vs interest over time
Each year, the interest portion of your EMIs falls while the principal portion rises.
- Interest
- Principal
Amortization schedule
| Year | Principal Paid | Interest Paid | Balance |
|---|---|---|---|
| 1 | ₹1,01,894 | ₹59,070 | ₹3,98,106 |
| 2 | ₹1,15,959 | ₹45,006 | ₹2,82,146 |
| 3 | ₹1,31,965 | ₹29,000 | ₹1,50,181 |
| 4 | ₹1,50,181 | ₹10,784 | ₹0 |
Example calculation
For a ₹5,00,000 loan at 13% over 4 years, the EMI works out to ₹13,414. Over the full term you repay ₹6,43,860, of which ₹1,43,860 is interest.
How personal loan EMIs work
Personal loans are unsecured, so lenders price in more risk and rates are typically higher than home or car loans. They usually have short tenures (a few years) and fixed rates, so the EMI stays constant. Interest is still charged on the reducing balance.
Flat rate vs reducing balance
Some lenders quote a 'flat' rate, which is charged on the original amount for the whole tenure and is not comparable to a reducing-balance rate. A flat rate always costs more than the same number quoted as a reducing rate. This calculator uses the reducing-balance method; ask your lender which one they quote.
EMI formula
EMI = P × r × (1 + r)n / [ (1 + r)n − 1 ] with r the monthly rate and n the tenure in months.
Assumptions & Limitations
- •Reducing-balance interest at a constant rate.
- •Processing fees, insurance and foreclosure charges are not included.
- •Prepayment penalties, common on personal loans, are not modelled.
Frequently asked questions
Methodology last reviewed: 1 June 2026