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Personal Loan EMI Calculator
Estimate the monthly EMI on a personal loan and the total interest over its tenure.
Calculate personal loan EMI and total interest payable.
Free to run · to save projections to your live dashboard
Enter values and click Calculate to see results
Worked example
Calculated by the same engine as the calculator above.
- Inputs
- Loan Amount
- ₹5,00,000
- Interest Rate (% p.a.)
- 12
- Loan Tenure (Years)
- 5
- Result
- Monthly EMI
- ₹11,122
- Total Interest
- ₹1,67,333
- Total Payment
- ₹6,67,333
Formula
EMI = P × i × (1 + i)^n / ((1 + i)^n - 1)
- P = loan amount (principal)
- i = annual interest rate / 12 / 100 (monthly rate)
- n = tenure in years × 12 (number of monthly instalments)
- Total payment = EMI × n; total interest = total payment - P
Assumptions
- Uses the standard reducing-balance EMI formula with a fixed interest rate for the whole tenure.
- Interest is charged monthly at the annual rate divided by 12.
- Processing fees, GST on fees, foreclosure charges and insurance are not included.
- The rate is treated as a reducing-balance rate; a flat-rate quote would need to be converted first.
- Educational estimate only, not financial advice. Capitallytics does not execute transactions.
Personal Loan EMI Calculator FAQ
Answers about how this calculator works.
Is the rate reducing or flat?
The calculator treats it as a reducing-balance rate. If a lender quotes a flat rate, the effective reducing rate is higher, so the EMI here would understate the cost.
Does the EMI include the processing fee?
No. Processing fees are usually deducted upfront or charged separately and are not part of this EMI.
Should I choose a shorter tenure?
A shorter tenure means a higher EMI but less total interest. Pick one where the EMI fits comfortably in your monthly budget.
What if I foreclose the loan early?
Early closure reduces interest but may carry a charge. This calculator assumes the loan runs for the full tenure.