loans Calculator
Personal Loan Calculator
Calculate EMI for personal loans. Personal loans are unsecured loans with higher interest rates but quick disbursement.
₹5,00,000
₹
₹10,000₹50,00,000
%
830
months
684
Results
Monthly EMI
₹0
Total Interest
₹0
Total Payment
₹0
How to Use Personal Loan Calculator
- 1
Enter the loan amount you need
- 2
Input the interest rate offered
- 3
Choose your preferred tenure
- 4
View your monthly EMI and total cost
Personal Loan Calculator Formula
EMI = [P × R × (1+R)^N] / [(1+R)^N - 1]Example Calculation
Input Values
Loan Amount
₹5,00,000
Interest Rate (Annual)
12 %
Loan Tenure
36 months
Results
Monthly EMI
₹16,607
Total Interest
₹97,857
Total Payment
₹5,97,857
Frequently Asked Questions
What is the typical personal loan interest rate?
Personal loan rates range from 10.5% to 24% depending on your credit score, income, and the lender.
Can I prepay a personal loan?
Yes, most banks allow prepayment after 6-12 months. Some charge a prepayment penalty of 2-5%.
What documents are needed for personal loan?
ID proof, address proof, income proof (salary slips/ITR), bank statements, and photographs are typically required.