Personal Loan EMI Calculator
See the payment. Understand the cost. Plan your way out.
Your loan
01Prepayment plan
Extra payments follow each EMI; one-time prepayment follows the selected EMI. Fee applies only to the extra principal actually paid. Check your lender's terms for permitted prepayments and charges.
Upfront charges
Include applicable taxes. Assumes fees are paid upfront, not added to the loan.
Your repayment outlook
Calculated locallyBefore extra payments / 36 scheduled months
A longer tenure lowers the EMI but usually increases total interest. Add a prepayment to compare the trade-off.
Make the loan work for you
Original plan: ₹2,13,553 / Your plan: ₹2,13,553
Repayment schedule
| Year | Principal paid | Interest | Extra principal | Total paid | Balance |
|---|---|---|---|---|---|
| 1 | ₹86,447.13 | ₹36,592.35 | ₹0.00 | ₹1,23,039.48 | ₹2,13,552.87 |
| 2 | ₹99,357.34 | ₹23,682.14 | ₹0.00 | ₹1,23,039.48 | ₹1,14,195.53 |
| 3 | ₹1,14,195.53 | ₹8,843.91 | ₹0.00 | ₹1,23,039.44 | ₹0.00 |
Principal paid includes extra principal. Total paid includes prepayment fees, but excludes upfront fees.
Look at the cash received and the total repaid
Personal-loan processing charges and optional insurance can affect how much cash reaches you and what you repay overall. This calculator treats the fee input as an upfront cash cost, leaving a net initial benefit equal to the principal less fees. It does not assume that every lender permits immediate or unlimited part-prepayment.
A practical example
A Rs 3 lakh loan with Rs 6,000 of upfront charges has a net initial cash benefit of Rs 2.94 lakh, even though interest and instalments are based on Rs 3 lakh. Comparing effective annual borrowing costs can expose differences that are not obvious from the quoted rate alone.
How the EMI calculation works
EMI = P × r ÷ [1 − (1 + r)^(−n)]P is the principal, r is the annual nominal rate divided by 1,200, and n is the number of months. At zero interest, EMI = P ÷ n. The schedule rounds payments and monthly interest to paise, applies prepayments after the EMI, and adjusts the final instalment to clear the balance. It assumes a constant rate, monthly intervals and no moratorium. Daily accrual, disbursement timing and lender rounding can cause differences.
Fees and the effective annual rate
The effective annual rate discounts baseline instalments against the principal less upfront fees, then annualizes the monthly result by compounding. It excludes prepayments because those are optional future cash flows. Consult your lender's Key Facts Statement for its disclosed APR and charges. RBI overview of Key Facts Statement requirements.
Common questions
Are fees deducted from the loan or paid separately?
The model treats them as an upfront cost. Either payment route gives the same net initial cash benefit for this calculation. If fees are financed, include them in the principal and avoid entering them again as an upfront cost.
Will my lender accept the prepayment plan?
Not necessarily. Lock-in periods, minimum amounts and other conditions can apply. Enter charges and timing that match the loan contract; the calculator does not determine eligibility.
Does the affordability result guarantee approval?
No. It applies your chosen EMI-to-income assumption. Lenders also consider credit history, income stability, existing obligations and their own underwriting rules.