Compare total interest, not only the EMI.
Personal Loan Calculator
Estimate unsecured-loan EMI, fees and total interest. Adjust the assumptions, inspect the chart and read the complete guide below.
02 Your projection
Estimated monthly EMI₹18,202Updates instantly as you edit
Loan principal₹8.00 L
Interest and fees₹3.12 L
Total repayment including fees₹11.12 L
Full amortisation schedule60 monthly instalments
Projection journeyHover to inspect a year
Uses a reducing monthly balance and includes the entered upfront costs. Verify the lender’s APR and Key Fact Statement.
Take the next step
Want help exploring Personal Loan?
Leave your details and consent to be contacted about this product. We never ask for PAN, Aadhaar or banking credentials here.
Five smart nudges
Use the result with context.
Check the lender’s APR and key fact statement before signing.
A longer tenure lowers EMI but usually increases total interest.
Keep room in the monthly budget for rate resets and emergencies.
Include processing, legal, insurance and closure charges in the comparison.
Understanding Personal Loan in India
Editorially reviewed 12 July 2026 · Rules and assumptions can change
Unsecured borrowing and all-in cost
A personal loan usually has no specific collateral, so rates can be materially higher than secured credit. The calculator uses required cash, annual reducing-balance rate, tenure and fees. If a ₹5 lakh sanction deducts ₹20,000 fees before disbursal, the borrower receives ₹4.8 lakh but may repay interest on ₹5 lakh—raising the effective APR.
Compare Key Facts Statements, APR, net disbursal, total repayment, late charges, bounce charges, insurance and foreclosure terms. A flat-rate advertisement is not comparable with a reducing-balance rate without conversion.
Tenure and debt-service test
On a high-rate loan, extending from three to five years can cut EMI but add substantial interest. Add the new EMI to every existing obligation and test it against take-home income after essentials, not the lender’s maximum eligibility.
Avoid using a personal loan for recurring living deficits or speculative investment. If the expense is optional, delay and save; if it consolidates debt, close old facilities and prevent balances from rebuilding.
Credit and prepayment consequences
Multiple applications can create hard enquiries. Review the credit report, apply selectively and verify the regulated lender and digital lending disclosures. Never pay an unverified agent to guarantee approval.
Prepayment may save interest but can have a lock-in or charge. Compare net saving and obtain a closure letter/NOC; a zero balance in the app is not always proof of formal closure.
Personal-loan checklist
Confirm purpose, exact net amount needed, EMI date, APR, total repayment, fees, insurance, late charge, foreclosure rule and grievance channel. Keep repayment buffer before disbursal.
Read the KFS and sanction agreement, verify bank account and mandate, and monitor credit reporting after closure. The calculator cannot assess approval or lender conduct.
Official sources used for this guide
Rates, thresholds and rules can change after the review date. Check the linked authority and the provider’s current documents before acting.
Personal Loan calculator FAQs
Why is net disbursal lower than the loan amount?
Processing fee, tax or insurance may be deducted upfront while repayment is based on sanctioned principal.
What is more useful than the advertised rate?
The KFS APR and total repayment, because they incorporate relevant disclosed costs.
Is a flat rate equal to a reducing rate?
No. Flat interest is calculated on original principal and can look deceptively low.
Should I borrow to invest?
That introduces certain borrowing cost against uncertain return and is generally a high-risk mismatch.
What proves closure?
Obtain the lender’s NOC or closure certificate and later verify credit reporting.