Your Monthly EMI
A Personal Loan is an unsecured loan that helps you meet immediate financial needs, such as medical emergencies, home renovation, wedding expenses, or debt consolidation. Since no collateral is required, interest rates are generally higher than secured loans. Our Personal Loan EMI Calculator helps you plan your repayment strategy effectively. By entering your desired loan amount, interest rate, and tenure, you can instantly see your monthly outflow. This helps you choose a loan tenure that keeps your EMI affordable without stretching your monthly budget.
No need for complex manual math. Get results instantly in milliseconds.
Know your EMI beforehand to ensure it fits within your salary and expenses.
Visualize how a shorter tenure can save you thousands in total interest.
Experiment with different tenures (1 to 5 years) to find the sweet spot.
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The calculation formula is the same, but the parameters differ. Personal loans have higher interest rates (10.5% to 24%) and shorter tenures (usually up to 5 years), whereas home loans have lower rates and longer tenures (up to 30 years).
Indirectly, yes. If you have a low CIBIL score, banks may charge you a higher interest rate. A higher interest rate results in a higher EMI amount for the same loan amount.
Yes, most banks allow part-payment or foreclosure after a lock-in period (usually 6-12 months). Prepaying reduces your principal amount, which can either lower your EMI or reduce your loan tenure. Note that foreclosure charges may apply.
Standard personal loan tenures range from 1 to 5 years (12 to 60 months). However, some banks and specific loan schemes for government employees may offer tenures up to 7 years.
