# Personal Loan EMI Calculator

URL: https://speedycalculator.com/calculators/finance/personal-loan-emi/
Last updated: 2026-10-25

> The personal loan emi calculator works out the EMI (equated monthly instalment) on a personal loan from the loan amount, interest rate and tenure – with the total interest, total payment, processing fee and the effective rate including the fee.

## Inputs

- Loan amount
- Interest rate (p.a.) (%)
- Loan tenure (years, months)
- Processing fee (%)

## Results

- Monthly EMI
- Total interest payable
- Total payment (principal + interest)
- Processing fee (+18% GST)
- Interest as a share of the total payment
- Effective annual rate including the fee

## Formula

```
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), r = annual rate ÷ 12 ÷ 100, n = months
Total interest = EMI × n − P
```

## Explanation

Personal loans are unsecured, so rates are higher – typically 10.5–24% – and processing fees of 1–3% plus GST are common. Compare the effective rate including fees.

### How to use the Personal Loan EMI Calculator

- **Loan amount**
- **Interest rate (p.a.)**
- **Loan tenure**
- **Processing fee**

Results update as you type, and every field accepts the units shown in its menu.

### How it works

Enter the loan amount, interest rate, tenure (years or months) and processing fee.

### Tips

- Figures use the latest published rates; government scheme rates are revised every quarter.
- Choose between the old and new tax regimes carefully – deductions only count in the old regime.
- Keep proofs of investments and rent for your employer and the tax return.
- Use the official portal of each scheme for exact maturity values.

### Common mistakes to avoid

- Assuming scheme interest rates are fixed for the whole term.
- Forgetting tax on interest from fixed and recurring deposits.
- Missing the yearly minimum deposit on PPF or Sukanya Samriddhi accounts.

### Inputs explained

FieldWhat to enterLoan amountAmount in ₹Interest rate (p.a.)In %Loan tenureUnits: years, monthsProcessing feeIn %

### What each result means

- **Monthly EMI** = pmt([Interest rate (p.a.)]÷1200, [Loan tenure], [Loan amount])
- **Total interest payable** = [Monthly EMI]×[Loan tenure] - [Loan amount]
- **Total payment (principal + interest)** = [Monthly EMI]×[Loan tenure]
- **Processing fee (+18% GST)** = [Loan amount]×[Processing fee]÷100×1.18
- **Interest as a share of the total payment** = [Total interest payable]÷[Total payment (principal + interest)]×100
- **Effective annual rate including the fee** = rate([Loan tenure], 0 - [Monthly EMI], [Loan amount] - [Processing fee (+18% GST)])×1200

### Example values

How the main result changes when **Loan amount** changes and everything else stays at the example values above:

Loan amountMonthly EMI250,0006,583.46375,0009,875.19500,00013,166.92625,00016,458.65750,00019,750.381,000,00026,333.84

## Worked example

Inputs — Loan amount: ₹500,000; Interest rate (p.a.): 12 %; Loan tenure: 4 years; Processing fee: 2 %.

Results — **Monthly EMI = ₹13,166.92**; Total interest payable = ₹132,012.05; Total payment (principal + interest) = ₹632,012.05; Processing fee (+18% GST) = ₹11,800.00; Interest as a share of the total payment = 20.89 %; Effective annual rate including the fee = 13.29 %.

## FAQ

**What is the EMI for a ₹5 lakh personal loan?**
About ₹13,170 a month at 12% for 4 years.

**What is the maximum tenure?**
Usually up to 5–7 years.

**Do personal loans have foreclosure charges?**
Many lenders charge 2–5% on prepayment.

**What formula does the Personal Loan EMI Calculator use?**
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), r = annual rate ÷ 12 ÷ 100, n = months.


## Sources

- [Reserve Bank of India](https://www.rbi.org.in/)