Personal Loan EMI Calculator
Calculate personal loan EMI instantly and see the true cost of borrowing before you apply.
Monthly EMI
₹16,607.15
Total Payment
₹5.98 L
Total Interest
₹97,857.58
Principal
83.63%
Interest
16.37%
Total EMIs
36
Loan closes
Jul 2029
Break-even
Year 1
Interest : Principal
16.37% : 83.63%
Outstanding balance at any month
About Personal Loan EMI Calculator
Personal loans are unsecured and have the highest interest rates among retail loans - typically 10.5%–24% per annum. They are fast (disbursed in 24–48 hours) but expensive. Use them only for genuine emergencies or when the cost of the loan is less than the cost of the alternative (e.g., liquidating a long-term SIP).
Related Calculators
EMI Calculator
Calculate your Equated Monthly Instalment for home, car, or personal loans.
Credit Card
Find out how long it takes to pay off your credit card balance and how much interest you'll pay.
Budget Planner
Plan your monthly budget with the 50-30-20 rule and track spending.
Personal Loan EMI by loan amount
Monthly EMI and total interest at 12% for 3 years — the typical rate and tenure for a personal loan. Change any value in the calculator above to match your own loan.
| Loan amount | Monthly EMI | Total interest |
|---|---|---|
| ₹5 L (default) | ₹16,607 | ₹97,852 |
| ₹10 L | ₹33,214 | ₹1.96 L |
| ₹20 L | ₹66,429 | ₹3.91 L |
| ₹30 L | ₹99,643 | ₹5.87 L |
| ₹50 L | ₹1,66,072 | ₹9.79 L |
| ₹1 Cr | ₹3,32,143 | ₹19.57 L |
₹5 L Personal Loan EMI by tenure
| Tenure | Monthly EMI | Total interest |
|---|---|---|
| 1 years | ₹44,424 | ₹33,088 |
| 2 years | ₹23,537 | ₹64,888 |
| 3 years (default) | ₹16,607 | ₹97,852 |
| 4 years | ₹13,167 | ₹1.32 L |
| 5 years | ₹11,122 | ₹1.67 L |
Stretching a ₹5 L personal loan from 1 to 5 years lowers the EMI by ₹33,302/month but adds ₹1.34 L in extra interest. Pick the shortest tenure your budget comfortably allows.
Income needed for a ₹5 L personal loan
Minimum net monthly income
₹33,214
EMI at 50% of income (tight approval)
Comfortable net monthly income
₹41,518
EMI at 40% of income (room to spare)
Banks assess your Fixed Obligation to Income Ratio (FOIR) — your total EMIs as a share of net income. With an EMI of ₹16,607 on this ₹5 L personal loan, you generally need at least ₹33,214 net per month, and ₹41,518+ for a comfortable approval if you already have other EMIs or credit-card dues.
Frequently Asked Questions
What is the EMI on a ₹5 L personal loan at 12%?▾
At 12% for 3 years, the EMI on a ₹5 L personal loan is about ₹16,607 per month. Over the full term you repay ₹5.98 L — ₹5 L of principal plus ₹97,858 of interest, which is 20% of what you borrow. Adjust the amount, rate, and tenure above for your exact figures.
How much monthly income do I need for a ₹5 L personal loan?▾
Lenders usually want your total EMIs to stay within 40–50% of net monthly income (the FOIR rule). With an EMI of ₹16,607, you would typically need at least ₹33,214 net per month for approval, and ₹41,518 or more to stay comfortable if you already have other EMIs or credit-card dues.
What is the current personal loan interest rate in India?▾
Personal loan rates range from 10.5% to 24% depending on your income, credit score, employer category, and lender. Public sector bank employees and those with 750+ CIBIL scores get the lowest rates. Fintech lenders like Bajaj Finserv, KreditBee, and MoneyTap offer fast approvals but at higher rates (16–24%).
How much personal loan can I get on a 50,000 salary?▾
Most banks lend 10–15x your monthly salary for personal loans - 5 to 7.5 lakh for a 50,000 salary. Maximum eligibility also depends on your existing EMI obligations. Banks typically cap total EMIs (including the new loan) at 50% of net monthly income.
Is a 3-year or 5-year tenure better for a personal loan?▾
A 3-year tenure means higher EMI but significantly less interest paid. A 5 lakh loan at 14% for 3 years costs 1.12 lakh in interest vs 1.93 lakh for 5 years. Since personal loan rates are high (10.5–24%), always choose the shortest tenure you can afford.
Is there a prepayment penalty on personal loans?▾
Most banks charge 2–5% on the prepaid amount if you prepay within the first 12 months. After 12 months, many banks allow full or partial prepayment with little or no penalty. Always check the prepayment clause before signing, as saving on interest often outweighs the penalty.
What is the difference between flat rate and reducing balance rate?▾
A flat rate of 12% is roughly equivalent to a 21% effective annual rate on a reducing balance basis. Banks and NBFCs sometimes advertise flat rates to make loans seem cheaper. Always ask for the APR (Annual Percentage Rate) or reducing balance rate for a fair comparison.
When should I avoid taking a personal loan?▾
Avoid personal loans for discretionary spending (vacations, gadgets, weddings) when you cannot comfortably repay within 2–3 years. At 14–18% interest, a 2 lakh loan becomes 2.6 lakh by year 3. Better alternatives: use savings, liquidate low-yield FDs, or negotiate a salary advance. Use personal loans only for genuine emergencies or productive investments.