Personal Loan EMI Calculator (India)
Quick answer Monthly EMI on a reducing-balance loan uses EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is principal, r is monthly rate (annual ÷ 12 ÷ 100), and n is tenure in months. Example: ₹5,00,000 at 14% for 36 months ≈ ₹17,089/month (use the calculator below for your inputs).
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Calculate your monthly EMI for a personal loan in India using the reducing-balance method. Adjust loan amount, interest rate, and tenure to compare scenarios before you apply. Results appear below the form — no login required.
Personal Loan EMI Calculator
Estimate your monthly EMI, total interest, and full repayment schedule — India reducing-balance method.
View month-by-month amortization schedule
| Month | Opening | Principal | Interest | EMI | Closing |
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How this calculator works
EMI = P × r × (1+r)n ÷ ((1+r)n − 1), where P = principal, r = monthly rate, n = months. Interest is calculated on reducing balance each month — the standard method for personal loans, home loans, and car loans in India.
Disclaimer: Educational estimate only. Not a loan offer. Actual EMI may differ due to rounding, processing fees, insurance, prepayment terms, or daily compounding. Read your lender’s Key Fact Statement before signing.
Frequently asked questions
How is personal loan EMI calculated?
Using the reducing-balance formula above. Each month, interest is charged on the outstanding principal; the rest of your EMI goes toward principal repayment.
Does EMI include processing fees?
Usually no — processing fees are charged upfront or deducted from disbursement. Use the optional processing fee field to see total cost including fees.
What interest rate should I use?
Use the rate from your lender’s sanction letter or KFS. Personal loan rates in India typically range from 10% to 24% p.a. depending on credit profile.
Longer tenure or shorter tenure?
Longer tenure = lower EMI but more total interest. Shorter tenure = higher EMI but less interest. Compare scenarios with the tenure presets above.
Reducing balance vs flat rate?
Always compare on reducing balance. Flat-rate loans can look cheaper on paper but cost significantly more over the loan term.
Risk disclosure: Approval is subject to the lender’s eligibility criteria and credit assessment. This content is for informational purposes only and does not constitute financial advice. Borrowing has cost and legal obligation. This is not a loan offer. Disclaimer · Report an error