Personal Loan EMI Calculator
Unsecured personal-loan EMI. Indian banks charge 10–18% depending on credit score, income, and existing obligations. Shortest-tenure option among major loans.
🇮🇳All amounts in ₹ INR · India tax law · FY 2025–26
Loan inputs
Monthly EMI
₹16,847
Total interest
₹1,06,491
Total payment
₹6,06,491
Personal loan basics in India
- Unsecured — no collateral; rate set by credit score (CIBIL).
- Tenure: 1–5 years (rarely up to 7).
- No tax benefit unless used for self-occupied home renovation / business.
- Processing fee 1–3% + GST.
- Foreclosure charge 2–4% for fixed-rate; nil for floating per RBI.
Cheaper alternatives to consider first
- Top-up on existing home loan — typically 1.5% cheaper.
- Loan against FD, gold, or shares.
- Credit-card balance transfer with 0% promo.
Risk-based pricing. CIBIL 750+ gets 10–12%; 700–750 gets 13–15%; below 700 may be denied or pushed to 18–22%.
Floating-rate PLs: no foreclosure charge (RBI). Fixed-rate PLs: typically 2–4% on outstanding principal.