Personal Loan Calculator
Calculate your personal loan EMI, total interest and total repayment. Enter loan amount, rate and tenure to plan your unsecured loan repayment.
Formula last reviewed 4 August 2026 · How we verify our calculators
Monthly EMI
- Total interest
- ₹1,98,048
- Total payment
- ₹6,98,048
Updates live as you type
Frequently asked questions
Personal loans are unsecured — there is no collateral for the lender to recover. To offset that risk, interest rates are higher than for secured loans like home or car loans.
Personal loans usually run from one to five years, sometimes up to seven. Shorter tenures mean higher EMIs but much less total interest.
Most lenders allow prepayment after a lock-in of a few EMIs, sometimes with a small charge. Prepaying reduces your outstanding principal and total interest.
Your credit score, income, employer, existing debts and relationship with the lender all influence the rate offered. A higher credit score typically secures a lower rate.
No collateral, no security — and the rate reflects it
A ₹5,00,000 personal loan at 14% over 5 years comes to a monthly EMI of ₹11,634, and across 60 payments that totals ₹1,98,048 in interest — nearly 40% of what you actually borrowed. That's steep next to a secured loan of similar size and tenure, and it isn't an accident of pricing: because a personal loan has nothing backing it — no house, no vehicle, nothing the lender can repossess if you stop paying — the entire risk sits with the lender, and the interest rate is how they price that risk.
Why tenure choices bite harder here than on a car or home loan
Because the base rate is already high, stretching the tenure to lower the EMI has an outsized effect on total interest — every additional year compounds against a rate that's already working against you more than a secured loan's would. Where your budget allows, the shortest tenure you can comfortably sustain will almost always beat a longer one on total cost, even though the EMI looks larger month to month.
What actually moves the rate you're offered
Your credit score does more work here than on most other loans, since it's the lender's main substitute for collateral — a strong score can shave several percentage points off the rate quoted, which on a loan this size is a meaningful chunk of the total interest. Compare the total payment figure across lenders rather than the advertised EMI alone, since a lower monthly number built on a longer tenure often ends up the more expensive loan once you add it all up. Two costs rarely mentioned up front: processing fees, typically 1–3% of the loan amount charged at disbursal, and prepayment or foreclosure charges if you pay off the loan early — both real, both absent from the EMI figure itself.