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Personal Loan EMI Calculator

Calculate your personal loan EMI with processing fees. Get instant results and check your loan eligibility based on your income.

Personal Loan Details

₹5,00,000
₹50,000₹50,00,000
12.0%
10%24%
3 Years
1 Year7 Years
Monthly EMI
₹16,607
for 36 months
Principal Amount
₹5,00,000
Total Interest
₹97,858
Total Payment
₹5,97,858
Principal83.6%
Interest16.4%

Payment Schedule

Typical Interest Rates by Credit Score

Excellent (750+)
10-12%

Best rates available

Good (650-750)
14-18%

Moderate rates

Fair (<650)
18-24%

Higher rates

How to Use This Calculator

1

Enter Loan Amount

Input the personal loan amount you need (typically ₹50,000 to ₹50 lakhs).

2

Set Interest Rate

Adjust based on your credit score and lender's offer (typically 10-24%).

3

Choose Loan Tenure

Select repayment period (1-7 years). Shorter tenure = higher EMI but lower total cost.

4

Review Results

See your monthly EMI, total interest, and complete payment breakdown instantly.

💡 Pro Tips for Personal Loans

  • ✓Maintain credit score above 750 for best interest rates
  • ✓Borrow only what you need - don't max out your eligibility
  • ✓Choose shorter tenure to save on total interest (if EMI is affordable)
  • ✓Compare offers from at least 3-4 lenders before finalizing
  • ✓Check for processing fee waivers during promotional periods
  • ✓Prepay when possible to reduce interest burden

Frequently Asked Questions

What is the interest rate for personal loans in India?

Personal loan rates range from 10-24% p.a. in 2026. Borrowers with 750+ credit score get 10-12%, while lower scores face 18-24%. Rate depends on credit score, income, and lender.

What is the processing fee for personal loans?

Most banks charge 1-3% of loan amount as processing fee. On a ₹5 lakh loan, expect ₹5,000-₹15,000. Some lenders waive this during promotions.

How much personal loan can I get on my salary?

Lenders typically offer 10-20x your monthly salary. If you earn ₹50,000/month, you may get ₹5-10 lakhs. Final amount depends on credit score and existing obligations.

Can I prepay my personal loan?

Yes, but most lenders charge 2-5% prepayment penalty. Some offer zero penalty after 6-12 months. Check your loan agreement for specific terms.

What is the maximum tenure for personal loans?

Maximum tenure is typically 5-7 years (60-84 months). However, most borrowers choose 2-3 years to minimize interest costs.