Personal Loan EMI Calculator
Personal loans are unsecured, so they carry the highest rates of any mainstream borrowing. Work out the EMI and the true cost before you sign.
Monthly EMI
₹16,847
Total interest
₹1,06,491
Total payment
₹6,06,491
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Frequently Asked Questions
What rate do personal loans carry?
Typically 11 to 18% a year, depending on your credit score, employer and income. Anything above 20% is worth refusing — a gold loan or a top-up on an existing secured loan will almost always be cheaper.
What other charges should I check?
Processing fees of 1 to 3% of the loan amount, prepayment charges of 2 to 5% on the outstanding balance, and sometimes an insurance premium bundled in. These can add a percentage point or more to the effective rate.
How does my credit score affect the EMI?
Substantially. A CIBIL score above 750 typically gets the lowest advertised rate; below 700 you may be offered 4 to 6 percentage points more, or declined. On a ₹5 lakh three-year loan that difference is roughly ₹50,000 in extra interest.
Can I prepay a personal loan?
Usually after 6 to 12 EMIs, and generally with a foreclosure charge of 2 to 5% of the outstanding principal. Check whether the saving in interest exceeds that charge before prepaying.