Personal Loan EMI Calculator
Personal loan EMIs are driven far more by the interest rate than home loan EMIs are, because the rate band is much wider - roughly 10% to 22% depending on your profile. The calculator below shows what each rate does to your instalment and to the total you repay.
Monthly EMI
₹10,621
₹5 Lakh at 9.99% for 5 years
Interest is 27% of the amount borrowed over this tenure.
Year-by-year repayment schedule
How each year splits between interest and principal. Early years are mostly interest, which is why prepaying early saves so much more than prepaying late.
| Year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| 1 | ₹81,152 | ₹46,301 | ₹4,18,848 |
| 2 | ₹89,640 | ₹37,812 | ₹3,29,208 |
| 3 | ₹99,017 | ₹28,436 | ₹2,30,191 |
| 4 | ₹1,09,375 | ₹18,078 | ₹1,20,816 |
| 5 | ₹1,20,816 | ₹6,637 | ₹0 |
This calculator returns arithmetic on the figures you enter. It is not an offer, does not check your eligibility, and cannot predict the rate a lender will sanction. Loans Got Easy is an authorised Direct Selling Agent - we do not sanction, approve or disburse loans.
The rate band is the whole story
A 5 lakh personal loan over 5 years costs about 10,747 a month at 10.5% and about 13,247 a month at 20%. That is roughly 1.5 lakh of extra interest across the loan for the same borrowing. Unlike a home loan, where there is collateral, an unsecured lender prices almost entirely off your credit profile, income stability and employer. This is why checking your credit report before applying matters more here than anywhere else.
Tenure is capped, which limits the EMI relief
Most personal loans run 12 to 60 months, with a few lenders going to 72 or 84 for salaried borrowers at well-rated employers. There is no 20-year option to shrink the instalment into, so a personal loan EMI is inherently a large monthly commitment relative to the amount borrowed. If the EMI at 60 months is uncomfortable, the honest conclusion is usually that the loan amount is too high rather than that a longer tenure is needed.
Processing fees are a real part of the cost
Personal loan processing fees typically run 0.5% to 2.5% of the sanctioned amount, and are often deducted from the disbursal rather than billed separately. On a 5 lakh loan a 2% fee means 10,000 never reaches your account while you repay interest on the full 5 lakh. When comparing two offers, compare the effective cost including the fee, not the headline rate alone.
Prepayment rules vary and matter
Unlike floating-rate home loans, personal loans may carry foreclosure charges, commonly 2% to 5% of the outstanding principal, and some lenders bar prepayment entirely for the first 6 to 12 months. If you expect a bonus or a windfall that could close the loan early, the foreclosure policy deserves as much attention as the rate. Ask for it in writing before you sign.
Rates sourced from partner lender published rate schedules, last verified August 2026. Figures produced by this calculator are indicative and depend entirely on the inputs you provide. The rate you are offered is set by the lender based on your credit profile, income, employer, loan amount and tenure.
Frequently Asked Questions
At 10.5% p.a. over 5 years the EMI is approximately 10,747, with total interest of about 1.45 lakh. At 15% the same loan costs about 11,895 a month and roughly 2.14 lakh in interest. The rate you are offered depends on your credit score, income, employer and existing obligations.
Want this checked against real lender criteria?
Share your details and a senior advisor will call you back within 24 hours.
Rates last verified August 2026. Loans Got Easy is a loan advisory and Direct Selling Agent. We do not sanction, approve or disburse loans - the lender does, based on its own credit assessment.