Personal Loan EMI Calculator
Plan your unsecured personal loan installments. Analyze how 1 to 5 year tenures and bank interest rates influence your monthly budget and overall debt interest.
Adjust Parameters
Enter the total loan amount sanctioned or needed.
Floating or fixed annual interest rate quoted by your bank.
Total duration over which you intend to repay the loan.
Monthly payment for 3 Years (36 Months)
Principal vs Total Interest Breakdown
Total: ₹5,89,297| Category | Amount | Percentage |
|---|---|---|
| Principal Loan Amount | ₹5,00,000 | 84.8% |
| Total Interest Payable | ₹89,297 | 15.2% |
Interest Rate Sensitivity (±1% to ±2%)
See how floating rate fluctuations by the RBI or your lender affect your monthly EMI and overall interest cost.
| Interest Rate | Monthly EMI | EMI Difference | Total Interest | Total Cost |
|---|---|---|---|---|
| 9% | ₹15,900 | -₹469 | ₹72,400 | ₹5,72,400 |
| 10% | ₹16,134 | -₹235 | ₹80,824 | ₹5,80,824 |
| 11% (Current) | ₹16,369 | - | ₹89,284 | ₹5,89,284 |
| 12% | ₹16,607 | +₹238 | ₹97,852 | ₹5,97,852 |
| 13% | ₹16,847 | +₹478 | ₹1,06,492 | ₹6,06,492 |
Tenure Comparison Analysis
Longer tenures reduce your monthly EMI burden but significantly increase total interest paid to the lender.
| Tenure | Monthly EMI | Total Interest | Total Repayment | Interest / Loan % |
|---|---|---|---|---|
| 1 Years | ₹44,191 | ₹30,292 | ₹5,30,292 | 6.1% |
| 2 Years | ₹23,304 | ₹59,296 | ₹5,59,296 | 11.9% |
| 3 Years (Current) | ₹16,369 | ₹89,284 | ₹5,89,284 | 17.9% |
| 4 Years | ₹12,923 | ₹1,20,304 | ₹6,20,304 | 24.1% |
| 5 Years | ₹10,871 | ₹1,52,260 | ₹6,52,260 | 30.5% |
| 6 Years | ₹9,517 | ₹1,85,224 | ₹6,85,224 | 37.0% |
| 7 Years | ₹8,561 | ₹2,19,124 | ₹7,19,124 | 43.8% |
Loan Amortization & Repayment Schedule
Year-by-year distribution of principal repayment and total interest paid.
| Year | Opening Balance | Principal Paid | Interest Paid | Total Payment | Closing Balance |
|---|---|---|---|---|---|
| Year 1 | ₹5,00,000 | ₹1,48,784 | ₹47,646 | ₹1,96,428 | ₹3,51,215 |
| Year 2 | ₹3,51,215 | ₹1,66,002 | ₹30,430 | ₹1,96,428 | ₹1,85,212 |
| Year 3 | ₹1,85,212 | ₹1,85,212 | ₹11,221 | ₹1,96,428 | ₹0 |
How EMI Is Calculated (Reducing Balance Method)
Transparent mathematical formulas and assumptions used across our financial engines.
Variables & Legend
₹5,00,000 entered above
Annual rate (11%) ÷ 12 ÷ 100
36 total installments
Step-by-Step Calculation
- Step 1: Monthly Interest Rate (r):
r = (11% / 12) / 100 = 0.009167The annual interest rate is divided by 12 months and normalized as a decimal fraction.
- Step 2: Total Repayment Months (n):
n = 3 Years × 12 + 0 Months = 36 MonthsLoan tenure is converted to the total number of monthly installment cycles.
- Step 3: Equated Monthly Installment (EMI):
EMI = [₹5,00,000 × r × (1 + r)^36] / [(1 + r)^36 - 1] = ₹16,369Applying the standard reducing-balance amortization formula ensures equal payments each month while interest gradually declines as principal is paid down.
Conventions & Assumptions
- Compounded monthly using the reducing balance method standard across Indian commercial banks.
- Monthly EMI is rounded to the nearest integer rupee for practical payment execution.
- The final installment automatically adjusts for fractional paise differences to settle principal to exactly zero.