💳 Personal Loan Amortization Schedule
Interest rate range: 10.50% - 24.00% p.a. - Tenure: 1 - 5 years
Monthly EMI
Rs. 16,968
Rs. 5.00 lakh at 13.5%
Total Interest
Rs. 1.11 lakh
3 year term
Total Repayment
Rs. 6.11 lakh
Principal + Interest
Adjust to your loan details
Loan type
Monthly EMI
₹16,968
Total Interest
₹1.11 L
18.14% of total
Total Repayment
₹6.11 L
Break-even Year
Year 1
principal > interest
Amortization Schedule
36 EMIs total
Principal vs Interest paid each year
| Year | Opening Balance | Principal Paid | Interest Paid | Closing Balance | % Paid |
|---|---|---|---|---|---|
| 1break-even | ₹5 L | ₹1.45 L | ₹58,754 | ₹3.55 L | 29% |
| 2 | ₹3.55 L | ₹1.66 L | ₹37,942 | ₹1.89 L | 62% |
| 3 | ₹1.89 L | ₹1.89 L | ₹14,139 | ₹0 | 100% |
Inside a Rs. 5.00 lakh personal loan at 13.5%
Interest paid in Year 1
Rs. 58,754
29% of the year's EMIs
Principal repaid in Year 1
Rs. 1.45 lakh
71% of the year's EMIs
Principal overtakes interest
Month 1
from the start
This worked example uses the current typical market rate of 13.5% for a personal loan over 3 years, computed from the full amortization schedule. Total interest over the term is Rs. 1.11 lakh — about 22% of the Rs. 5.00 lakh borrowed. Because interest is front-loaded, the principal portion of your EMI only overtakes the interest portion from the very first EMI, so prepaying in the early years has an outsized effect.
Personal Loan EMI and total interest by loan amount
| Loan Amount | Monthly EMI | Total Interest | Total Repayment |
|---|---|---|---|
| Rs. 1.00 lakh | Rs. 3,394 | Rs. 22,184 | Rs. 1.22 lakh |
| Rs. 3.00 lakh | Rs. 10,181 | Rs. 66,516 | Rs. 3.67 lakh |
| Rs. 5.00 lakh (this page) | Rs. 16,968 | Rs. 1.11 lakh | Rs. 6.11 lakh |
| Rs. 10.00 lakh | Rs. 33,935 | Rs. 2.22 lakh | Rs. 12.22 lakh |
| Rs. 15.00 lakh | Rs. 50,903 | Rs. 3.33 lakh | Rs. 18.33 lakh |
All rows assume 13.5% for 3 years. EMI and interest scale in direct proportion to the loan amount — a Rs. 15.00 lakh personal loan costs about Rs. 50,903/month versus Rs. 3,394/month for Rs. 1.00 lakh. Enter your exact amount, rate, and tenure in the calculator above for a precise month-by-month schedule.
Typical personal loan rate & tenure
Personal Loan interest rates in India typically sit at 10.50% - 24.00% p.a., with a mid-market reference rate of about 13.5% used for the figures on this page. Tenures usually run 1 - 5 years. A longer tenure reduces the monthly EMI but increases the total interest, while a shorter tenure does the opposite — pick the shortest tenure your monthly budget comfortably supports.
Personal Loan - Key Facts
- -Unsecured loan - no collateral required
- -Highest interest rate among all retail loan types
- -Approval in hours with digital lenders
- -No restrictions on end use of funds
- -Prepayment penalty of 2-5% is common in first 12 months
Tax Benefit
No direct tax benefit, except if used for home renovation (partial Section 24(b)) or education in some cases.
Frequently Asked Questions
What is the EMI on a Rs. 5.00 lakh personal loan at 13.5%?▾
A Rs. 5.00 lakh personal loan at 13.5% p.a. for 3 years has a monthly EMI of Rs. 16,968. Over the full term you repay Rs. 6.11 lakh — the Rs. 5.00 lakh principal plus Rs. 1.11 lakh in interest.
How much of the first year goes to interest on a personal loan?▾
In year 1 of this Rs. 5.00 lakh personal loan, about Rs. 58,754 of your EMIs goes to interest and only Rs. 1.45 lakh reduces the principal — roughly 29% interest. This front-loading is why the outstanding balance falls slowly at the start and prepaying early saves the most.
When does the principal overtake interest on a personal loan?▾
For this Rs. 5.00 lakh personal loan at 13.5%, the principal portion of the EMI first exceeds the interest portion from the very first EMI. Before that crossover, more than half of every EMI is interest.
What is the total interest on a Rs. 5.00 lakh personal loan?▾
At 13.5% over 3 years, the total interest on a Rs. 5.00 lakh personal loan is about Rs. 1.11 lakh — roughly 22% of the amount borrowed. A shorter tenure or any prepayment cuts this figure sharply.
How does the EMI change with the loan amount for a personal loan?▾
EMI scales in direct proportion to the loan amount at a given rate and tenure. At 13.5% for 3 years, a Rs. 1.00 lakh personal loan costs about Rs. 3,394/month while a Rs. 15.00 lakh one costs about Rs. 50,903/month. See the by-amount table above for the full range.
What is the typical tenure for a personal loan?▾
Personal Loan tenures in India typically run 1 - 5 years. A longer tenure lowers the EMI but raises the total interest paid; the schedule and figures on this page assume 3 years.
What is the current personal loan interest rate?▾
Personal Loan interest rates currently range from 10.50% - 24.00% p.a. depending on the lender, loan amount, tenure, and your credit score. Major lenders include HDFC Bank, ICICI Bank, Axis Bank, Bajaj Finance, Fullerton India. Check the current rate directly with your lender before applying.
Is there a tax benefit on a personal loan?▾
No direct tax benefit, except if used for home renovation (partial Section 24(b)) or education in some cases.