Personal Loan EMI Calculator

EMI is your fixed monthly repayment for a loan. This calculator estimates personal loan EMI, total interest, and total repayment using your amount, rate, and tenure.

Tip: you can enter months directly (e.g., 60 months = 5 years).

How EMI is calculated

Monthly rate r = annual rate / 12 / 100. Number of payments n = tenure in months. EMI is: EMI = P × r × (1 + r)^n / ((1 + r)^n − 1)

Example

Loan ₹5,00,000 at 12% p.a. for 60 months gives a monthly EMI calculated using the formula above.

Amortization schedule

No data — calculate EMI to view schedule.

FAQs

How is EMI calculated for a personal loan?

The EMI formula uses loan principal, monthly rate, and total tenure in months.

Why does a shorter tenure increase the monthly EMI?

You repay the same principal faster, so monthly installments increase.

What affects the total interest payable?

Rate, principal, and tenure drive interest cost.

How can I reduce my EMI?

Choose a longer tenure, lower rate, or lower principal amount.

What should I compare across lenders before choosing a loan?

Compare total repayment, fees, foreclosure terms, and interest rate terms, not just EMI.