Personal Loan Calculator
Calculate your Personal Loan EMI and understand total interest payable.
Personal loans typically range from 1 to 5 years.
Monthly EMI
₹6,691
Principal Amount
₹2,00,000
Total Interest
₹40,866
Total Payment
₹2,40,866
How the Personal Loan Calculator works
This calculator computes the EMI and total interest for a personal loan. Personal loans are unsecured, so they carry higher interest rates than home or car loans — making tenure and rate especially important.
It uses the standard reducing-balance EMI formula from the loan amount, rate and tenure.
EMI formula
EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1)
P = principal, r = monthly rate, n = months.
Frequently asked questions
Why are personal loan interest rates high?+
Personal loans are unsecured (no collateral), so lenders charge more to cover risk — often 10–24% p.a. depending on your credit profile.
How can I get a lower personal loan rate?+
A higher credit score, stable income and existing relationship with the lender help. Compare offers before choosing.
Is a personal loan better than a credit card?+
For larger amounts repaid over time, a personal loan's rate is usually much lower than a credit card's, making it cheaper.