Personal Loan EMI Calculator
Work out the instalment on an unsecured loan, and see plainly what the higher rate costs you over the term.
Personal Loan EMI Calculator
Monthly EMI
₹10,253.29
- Total interest₹69,118.40
- Total amount payable₹3,69,118.40
Works out in your browser. Nothing you type is sent anywhere.
In short: Personal Loan EMI Calculator
A ₹3,00,000 personal loan at 14% a year for 36 months costs ₹10,253.29 a month. The interest comes to ₹69,118.40, taking the total repaid to ₹3,69,118.40. Unsecured rates sit well above home loan rates, so a short tenure usually saves more here than anywhere else.
What is Personal Loan EMI?
A personal loan EMI is the fixed monthly payment that clears an unsecured loan and its interest over the agreed term.
How is Personal Loan EMI calculated?
Multiply the loan by the monthly rate, then by one plus the monthly rate raised to the number of instalments, and divide by that power minus one. The monthly rate is the yearly rate divided by twelve and then by a hundred.
- EMIthe equal amount you pay every month
- Pthe loan amount credited to your account
- ithe interest rate for one month, as a decimal
- nthe number of monthly instalments
A worked example
| Personal loan amount | ₹3,00,000 |
|---|---|
| Interest rate (% a year) | 14% |
| Tenure (months) | 36 months |
| Result | |
| Monthly EMI | ₹10,253.29 |
| Total interest | ₹69,118.40 |
| Total amount payable | ₹3,69,118.40 |
Every figure in this table is produced by the same calculation the tool above runs.
How to use this personal loan EMI calculator
- Enter the amount you want credited, not the amount after the processing fee.
- Enter the rate on the offer letter, as a yearly percentage.
- Set the tenure in months.
- Read the total interest, and try a shorter tenure to see what it saves.
Questions people ask
Why are personal loan rates so much higher?
Nothing secures the loan, so the lender carries the whole risk if you stop paying. That risk is priced into the rate, which is why unsecured rates run well above a home or car loan. Your credit score and your income decide where in the band you land.
What does the processing fee do to the real cost?
The fee is usually deducted before the money reaches you, so you receive less than the sanctioned amount while paying interest on all of it. That makes the effective rate higher than the quoted one. Ask for the fee in rupees and subtract it from what you actually get.
Is a personal loan cheaper than a credit card?
Almost always, because card interest is charged monthly at a rate that works out far higher across a year. Moving a card balance onto a personal loan often cuts the cost of clearing it. The credit card payoff tool shows the comparison in figures.
Can I prepay a personal loan?
Most lenders allow it after a few instalments, often with a foreclosure charge of a few per cent of the outstanding amount. Even with that charge, closing early usually saves money on a high-rate loan. Check the exact terms in your loan agreement.
Accuracy and sources
Estimate only. Not financial or tax advice.
Checked by the Daytoolz team on 16 October 2026. How we check our tools.
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