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Personal Loan EMI Calculator
Example: a ₹5,00,000 personal loan at 12% interest for 3 years has a monthly EMI of ₹16,607. You pay ₹97,858 in interest — 20% of the amount borrowed.
Personal Loan EMI Calculator
₹
%
yrs
Monthly EMI
36 months
Principal
₹5,00,000
Total interest
₹97,858
Total payment
₹5,97,858
PrincipalInterest
Estimates for information only — not financial, tax or investment advice. Rates and rules change; confirm with an official source or a qualified professional. Disclaimer
How EMI is calculated
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1), where P is the loan amount, r the monthly rate (12% ÷ 12 = 1.0000%) and n the number of months (36). Banks in India use this reducing-balance method, so interest is charged only on the outstanding principal.
How to lower your EMI or total interest
- Longer tenure lowers the EMI but raises total interest.
- Prepay when you can — early prepayments cut interest the most because the balance is highest at the start.
- Compare rates: on ₹5,00,000, every 0.5% lower rate saves about ₹4,289 over 3 years.
Yearly repayment schedule — ₹5,00,000 at 12% for 3 years
| Year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| Year 1 | ₹1,47,208 | ₹52,078 | ₹3,52,792 |
| Year 2 | ₹1,65,877 | ₹33,408 | ₹1,86,915 |
| Year 3 | ₹1,86,915 | ₹12,371 | ₹0 |
Frequently asked questions
What is the EMI for ₹5,00,000 at 12% for 3 years?
₹16,607 per month, for 36 months.
How much total interest will I pay?
₹97,858 in interest, so ₹5,97,858 in total.
Does the EMI include processing fees or insurance?
No. EMI covers principal and interest only; processing fees, GST on fees and insurance are charged separately by the lender.