Personal Loan EMI Calculator
Instantly calculate your monthly EMI, total interest, and full repayment schedule for any personal loan.
The iToolVerse Personal Loan EMI Calculator gives you instant, accurate results for any loan amount, interest rate, and tenure — no sign-up required. See your monthly EMI, total interest payable, a year-by-year amortization schedule in Indian Financial Year format, and even model prepayments to find out how much interest you can save. Built for Indian borrowers, with live rate references for SBI, HDFC, ICICI, Axis, and other major lenders.
Monthly EMI
₹16,369
₹5 L over 36 months → ₹89.3K total interest
₹5 L
36 months
Quick presets
Monthly EMI
₹16,369
Total interest
₹89,297
Total amount payable
₹5,89,297
EMI per ₹1 lakh
₹3,274
at 11% for 36 mo
Principal vs. interest
Payment breakdown (by year)
Amortization schedule
| Month | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹11,786 | ₹4,583 | ₹4,88,214 |
| 2 | ₹11,894 | ₹4,475 | ₹4,76,320 |
| 3 | ₹12,003 | ₹4,366 | ₹4,64,317 |
| 4 | ₹12,113 | ₹4,256 | ₹4,52,204 |
| 5 | ₹12,224 | ₹4,145 | ₹4,39,980 |
| 6 | ₹12,336 | ₹4,033 | ₹4,27,643 |
| 7 | ₹12,449 | ₹3,920 | ₹4,15,194 |
| 8 | ₹12,563 | ₹3,806 | ₹4,02,631 |
| 9 | ₹12,679 | ₹3,691 | ₹3,89,952 |
| 10 | ₹12,795 | ₹3,575 | ₹3,77,157 |
| 11 | ₹12,912 | ₹3,457 | ₹3,64,245 |
| 12 | ₹13,030 | ₹3,339 | ₹3,51,215 |
| 13 | ₹13,150 | ₹3,219 | ₹3,38,065 |
| 14 | ₹13,270 | ₹3,099 | ₹3,24,794 |
| 15 | ₹13,392 | ₹2,977 | ₹3,11,402 |
| 16 | ₹13,515 | ₹2,855 | ₹2,97,887 |
| 17 | ₹13,639 | ₹2,731 | ₹2,84,249 |
| 18 | ₹13,764 | ₹2,606 | ₹2,70,485 |
| 19 | ₹13,890 | ₹2,479 | ₹2,56,595 |
| 20 | ₹14,017 | ₹2,352 | ₹2,42,578 |
| 21 | ₹14,146 | ₹2,224 | ₹2,28,432 |
| 22 | ₹14,275 | ₹2,094 | ₹2,14,157 |
| 23 | ₹14,406 | ₹1,963 | ₹1,99,750 |
| 24 | ₹14,538 | ₹1,831 | ₹1,85,212 |
| 25 | ₹14,672 | ₹1,698 | ₹1,70,541 |
| 26 | ₹14,806 | ₹1,563 | ₹1,55,735 |
| 27 | ₹14,942 | ₹1,428 | ₹1,40,793 |
| 28 | ₹15,079 | ₹1,291 | ₹1,25,714 |
| 29 | ₹15,217 | ₹1,152 | ₹1,10,497 |
| 30 | ₹15,356 | ₹1,013 | ₹95,141 |
| 31 | ₹15,497 | ₹872 | ₹79,643 |
| 32 | ₹15,639 | ₹730 | ₹64,004 |
| 33 | ₹15,783 | ₹587 | ₹48,221 |
| 34 | ₹15,927 | ₹442 | ₹32,294 |
| 35 | ₹16,073 | ₹296 | ₹16,221 |
| 36 | ₹16,221 | ₹149 | ₹0 |
Monthly EMI
₹16,369
Estimates assume a reducing-balance loan with a fixed EMI and interest compounded monthly. Lender rates, processing fees, GST, and prepayment/foreclosure charges vary — figures here are indicative and not a loan offer or financial advice. Always confirm the exact terms with your lender.
EMI per ₹1 lakh borrowed
A quick ready-reckoner: the monthly EMI for every ₹1 lakh of a reducing-balance loan. Multiply by your loan amount in lakhs to estimate your EMI. Computed live from the same engine as the calculator above.
| Interest rate | 1 year | 2 years | 3 years | 5 years |
|---|---|---|---|---|
| 10% | ₹8,792 | ₹4,614 | ₹3,227 | ₹2,125 |
| 11% | ₹8,838 | ₹4,661 | ₹3,274 | ₹2,174 |
| 12% | ₹8,885 | ₹4,707 | ₹3,321 | ₹2,224 |
| 14% | ₹8,979 | ₹4,801 | ₹3,418 | ₹2,327 |
Example: a ₹10 lakh loan at 11% for 5 years ≈ ₹21,742 per month (₹2,174 per lakh × 10).
How tenure changes the cost
A ₹5 L loan at 11%. A longer tenure lowers the EMI but raises the total interest — exactly the trade-off this calculator helps you weigh.
| Tenure | Monthly EMI | Total interest | Total payable |
|---|---|---|---|
| 1 year | ₹44,191 | ₹30,290 | ₹5,30,290 |
| 2 years | ₹23,304 | ₹59,294 | ₹5,59,294 |
| 3 years | ₹16,369 | ₹89,297 | ₹5,89,297 |
| 4 years | ₹12,923 | ₹1,20,293 | ₹6,20,293 |
| 5 years | ₹10,871 | ₹1,52,273 | ₹6,52,273 |
Indicative lender rates
Illustrative starting rates for major Indian lenders, with the resulting EMI on a ₹5 L loan over 3 years. These are indicative only — verify the exact rate, processing fee, and eligibility with the lender. Your offered rate depends on your credit score, income, and existing relationship.
| Lender | Rate from | EMI (₹5 L, 3 yr) |
|---|---|---|
| SBI | 11% | ₹16,369 |
| HDFC Bank | 10.5% | ₹16,251 |
| ICICI Bank | 10.75% | ₹16,310 |
| Axis Bank | 11.25% | ₹16,429 |
| Kotak Mahindra | 10.99% | ₹16,367 |
| IDFC First Bank | 10.99% | ₹16,367 |
| Bajaj Finserv | 11% | ₹16,369 |
| Tata Capital | 11.99% | ₹16,605 |
Related calculators
Personal loan EMI guide
What an EMI actually pays for, how the interest is split month by month, and how to use the schedule, prepayment simulator, and affordability signal in this calculator to borrow on your own terms.
What is an EMI?
An Equated Monthly Instalment (EMI) is the fixed amount you repay every month until a loan is cleared. It bundles two things: the interest charged on what you still owe, and a chunk of principal that reduces the outstanding balance. The total stays the same each month, but the split shifts — early EMIs are mostly interest, while later EMIs are mostly principal.
Reducing balance vs. flat rate
This calculator uses the reducing-balance method, the standard for Indian personal loans: interest is charged only on the amount you still owe, which shrinks every month. A flat ratecharges interest on the full original amount for the entire tenure, so a "flat 11%" loan is far costlier than it sounds — roughly equivalent to a 19-20% reducing rate. Always confirm which method a lender quotes.
The three levers that change your EMI
Loan amount
A bigger principal raises both your EMI and the total interest proportionally. Borrow only what you actually need.
Interest rate
Even a 1% lower rate can save tens of thousands over the tenure. Your rate depends on your credit score, income, and lender relationship.
Tenure
A longer tenure lowers the monthly EMI but increases the total interest you pay. Shorter tenures cost less overall but strain monthly cash flow.
Why prepaying early saves the most
Because interest is charged on the outstanding balance, a prepayment knocks down the very amount that future interest is calculated on. Pay extra in the first year and you avoid interest on that money for the entire remaining tenure — so the same lump sum saves far more early than it does near the end. Turn on the prepayment simulator in Advanced options to see your revised tenure and exact interest saved. Check your loan agreement for any prepayment or foreclosure charges first.
Is the EMI affordable?
A widely used rule of thumb is to keep total EMIs under 30-40% of your monthly net income, and well below 50% once all loans are added together. Enter your take-home pay in the affordability check to see your EMI-to-income ratio with a green / amber / red signal. A red reading means the loan is genuinely over-leveraged and may also hurt your approval odds.
How to use this calculator
- Set your loan amount, interest rate, and tenure — the EMI updates instantly.
- Open Advanced options to add a prepayment, a monthly extra, a processing fee, or an affordability check.
- Read the amortization schedule and switch between Monthly, Yearly, and Financial-Year views.
- Use Compare mode to weigh two lender offers side by side before you decide.
- Copy the share link or download the schedule as CSV or an image to revisit or send.
Frequently Asked Questions
How EMI is computed, reducing-balance interest, prepayment savings, processing fees, the Financial-Year view, and EMI-to-income guidance.