Personal Loan EMI Calculator
Calculate personal loan EMI and total repayment amount instantly.
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Personal Loan EMI Calculator visual insights
Monthly EMI
₹21.70 K
Total Interest
₹27.07 L
How to Use This Calculator
Enter Amount
Set your loan amount or investment using the slider or input field.
Set Rate & Tenure
Adjust the interest rate and time period to match your scenario.
Get Results
See your EMI, total interest, and full payment breakdown instantly.
Share & Plan
Share the result link or download the amortization schedule as PDF.
About Personal Loan EMI Calculator
Personal Loan EMI Calculator helps you compare EMI, interest outgo, repayment amount, and loan affordability using India-focused assumptions and INR formatting. Calculate personal loan EMI and total repayment amount instantly.
This tool is useful for borrowers in India planning home loans, personal loans, vehicle loans, education loans, and credit-card repayments. It is designed for quick planning before comparing bank offers, investment options, tax choices, or scheme rules with a qualified professional.
The calculations are tailored for users in India and use Indian number formatting, rupee values, and locally relevant finance terms wherever applicable.
Results are estimates for education and planning. Final decisions should use official documents, lender statements, scheme rules, tax notices, or advice from a qualified professional.
Frequently Asked Questions
What is the interest rate on personal loans in India?
Personal loan rates typically range from 10.5% to 24% p.a. Banks like HDFC, ICICI, and SBI usually offer 10.5-16% to salaried customers with good CIBIL. NBFCs and fintech lenders charge 14-24% depending on profile.
What is the maximum tenure for a personal loan?
Most banks offer personal loans for 1 to 5 years (12-60 months). Some banks like HDFC and Axis extend up to 6 years, but longer tenure significantly raises total interest paid.
Do personal loans offer tax benefits?
Generally no. Personal loan interest is NOT tax-deductible for most uses. Exception: if you use the loan for business, home renovation/construction (as part of Section 24), or to acquire assets, the interest can sometimes be claimed as a business or property expense.
What is the minimum CIBIL score for a personal loan?
Most banks require a CIBIL score of 700+ for personal loans. Scores of 750+ get the best rates. Below 650 approval becomes difficult; NBFCs may still approve but at 18-24% rates.
Is it better to prepay a personal loan or invest?
Prepay if your loan rate is above 12% (most personal loans are). Equity might beat 12%, but with risk; guaranteed savings from prepaying 15%+ loans usually wins. RBI does not cap personal loan foreclosure charges — check 2-5% + GST typically.
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Methodology & Formulas
All formulas used here comply with RBI guidelines and standard Indian financial conventions. Calculators are updated for FY 2026–27.
Last updated: April 2026