Personal Loan Calculator
Estimate personal-loan EMI and interest.
About this tool
This personal-loan calculator estimates monthly repayment and total interest for a fixed-rate, reducing-balance loan. It can help you compare borrowing amounts and repayment terms before reviewing a lender’s formal offer.
How to use this calculator
- Enter the amount you plan to borrow.
- Enter the annual interest rate and tenure.
- Calculate EMI and total interest, then compare with the lender’s disclosed charges and repayment schedule.
Formula
Worked example
For a ₹2,00,000 personal loan, change the rate and term to compare possible monthly payments. The lender’s final amount may also include fees or insurance.
Frequently asked questions
Why can personal-loan EMIs be relatively high?
Personal loans may have higher interest rates than secured loans, depending on borrower profile, lender and product terms.
Does the calculator include processing fees?
No. It estimates principal-and-interest payments only. Add processing fees and any other charges when comparing total borrowing cost.
Will a longer term reduce the monthly EMI?
Generally, yes, but paying over more months can increase total interest.
Is the displayed rate what every borrower receives?
No. Actual offers depend on the lender, credit profile, eligibility and current underwriting terms.
SolveKit provides general calculations for information and planning. Results depend on the values and assumptions entered. For financial, investment, payroll or tax decisions, confirm the applicable product terms and current rules with an authoritative source or qualified professional.