Personal Loan Calculator — Calculate Loan EMI
Calculate personal loan EMI instantly. Free online personal loan calculator — enter loan amount, interest rate and tenure.
How to Use
- Enter the personal loan amount you wish to borrow.
- Set the annual interest rate (personal loan rates range from 10–24% p.a.).
- Adjust tenure in years — see your EMI, total interest and total repayment update instantly.
Formula
EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1)
Where: P = Loan Principal | r = Monthly Rate (Annual ÷ 12 ÷ 100) | n = Months
Example Calculation
Example: ₹2,00,000 personal loan at 12% p.a. for 24 months
| Parameter | Value |
|---|---|
| Loan Amount | ₹2,00,000 |
| Interest Rate | 12% p.a. |
| Tenure | 24 months |
| Monthly EMI | ₹9,412 |
| Total Interest | ₹25,888 |
| Total Repayment | ₹2,25,888 |
Frequently Asked Questions
Personal loan interest rates in India typically range from 10% to 24% p.a. depending on your credit score, income, and the lender.
Banks typically offer personal loans from ₹50,000 up to ₹40 lakh. The amount depends on your income, credit score, and repayment capacity.
Yes. Personal loans are unsecured — no collateral or security is required. This is why interest rates are higher than secured loans like home loans.
A CIBIL score of 700+ is generally required. A score of 750+ qualifies you for the best interest rates. Scores below 650 may result in rejection.
Most banks disburse personal loans within 24–48 hours of document verification. Many fintech lenders offer instant disbursement within minutes.
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