Loans & interest
Personal Loan EMI Calculator
పర్సనల్ లోన్ ఈఎంఐ కాలిక్యులేటర్
EMI and total interest of a personal loan, with the year-wise repayment schedule.
Your result ఫలితం
Monthly EMI నెలవారీ వాయిదా
9.96 thousand rupees a month
- Principalఅసలు
- ₹3,00,000
- Total interestమొత్తం వడ్డీ
- ₹58,715
- Total paymentమొత్తం చెల్లింపు
- ₹3,58,715
Year by year ఏడాదివారీగా
- Principal
- Interest
Use the left and right arrow keys to read each year; the table below lists every value.
Show the year-by-year table
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹88,325 | ₹31,247 | ₹2,11,675 |
| 2 | ₹99,526 | ₹20,045 | ₹1,12,149 |
| 3 | ₹1,12,149 | ₹7,423 | ₹0 |
How the personal loan EMI is calculated
Lenders charge interest each month on the balance still owed (reducing balance). With a loan amount P, a monthly rate r (yearly rate ÷ 12 ÷ 100) and n monthly instalments:
EMI = P × r × (1 + r) n ÷ ((1 + r) n − 1)
Example: a personal loan of ₹3,00,000 at 12% for 3 years is an EMI of ₹9,964. You pay ₹58,715 in interest, ₹3,58,715 in all. The rate is an example: yours depends on the lender and your credit score.
Good to know
- Personal loans need no security, so rates are higher, roughly 10.5% to 24% a year, depending on your credit score, income and employer.
- A fixed-rate personal loan may carry a charge for paying it off early; ask before you sign, and compare the processing fee too.
- It is usually much cheaper than revolving a credit card bill at 42% to 45% a year: see the credit card payoff calculator.
Questions
Does a longer tenure save money?
No. A longer tenure lowers the EMI but raises the total interest. Pick the shortest tenure whose EMI you can pay comfortably.
Can I pay the loan off early?
On floating-rate loans to individuals, RBI does not allow prepayment charges in most cases (some business loans are exceptions). Fixed-rate loans may carry them: check your loan agreement.
What next? తర్వాత ఏం చూడాలి
See all calculators →Results are estimates for planning, at the rates you enter. Check exact figures with your bank, fund house or tax adviser before you decide.
