About the Personal Loan EMI Calculator
What is the Personal Loan EMI Calculator?
Personal loans are unsecured, so rates are higher (usually 10–24%) and lenders charge a processing fee of 1–3% plus GST, deducted from the amount you receive. That makes the real cost higher than the quoted rate.
Enter the loan amount, rate, tenure in months and processing fee. This personal loan EMI calculator shows the EMI, total interest, upfront fees and the effective annual cost (APR) based on the money you actually receive.
How to use the Personal Loan EMI Calculator
- Loan Amount (₹) (sample: 5,00,000)
- Interest Rate (% per year) (sample: 12)
- Tenure (months) (sample: 36)
- Processing Fee (% of loan, GST added at 18%) (sample: 2)
- Press Calculate Personal Loan EMI (results also refresh as you type). The result card shows the Monthly EMI, along with Total interest, Total amount payable, Upfront fees incl. GST and Effective annual cost (APR) incl. fees.
Formula used
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
- APR = the annual rate at which (P − fees) equals the present value of all EMIs
Because fees reduce what you receive while the EMI stays the same, the APR is always above the quoted rate.
Worked example
These are the sample values already filled in the calculator above, and the result it returns for them:
| Input | Sample value |
|---|---|
| Loan Amount (₹) | 5,00,000 |
| Interest Rate (% per year) | 12 |
| Tenure (months) | 36 |
| Processing Fee (% of loan, GST added at 18%) | 2 |
| Result | Value |
|---|---|
| Monthly EMI | ₹16,607 |
| Total interest | ₹97,858 |
| Total amount payable | ₹5,97,858 |
| Upfront fees incl. GST | ₹11,800 |
| Effective annual cost (APR) incl. fees | 14.56% |
Tips for using the Personal Loan EMI Calculator
- Check the Key Fact Statement, which lenders must provide with the APR under RBI rules.
- Avoid using personal loans for investing or discretionary spending at these rates.
- Pre-approved offers from your own bank often have lower fees.