Estimate personal-loan EMI, total interest and payout with a year-wise amortization schedule. Compare tenures instantly.
You will pay ₹16,607 every month for 36 months. Total interest cost: ₹97,858 (19.57% of principal).
| Year | Principal Paid | Interest Paid | Balance |
|---|---|---|---|
| 1 | ₹1,47,208 | ₹52,078 | ₹3,52,792 |
| 2 | ₹1,65,877 | ₹33,408 | ₹1,86,915 |
| 3 | ₹1,86,915 | ₹12,371 | ₹0 |
A personal loan is an unsecured, end-use-agnostic credit product priced between 10.5% and 24% depending on your CIBIL score, income and employer segment. Because there is no collateral, banks price in the credit risk — a 750+ CIBIL score can bring rates to ~11%, while sub-700 borrowers pay 18%+. This calculator returns the EMI, total interest and amortization schedule for any personal-loan amount and tenure.
Personal loans are best used for genuine short-tenure needs — medical emergencies, weddings, home renovation, credit-card consolidation. Because rates are far above home-loan or gold-loan rates, keep tenure short (24–36 months preferred, 60 months max) and avoid rolling from one PL to another. Use this calculator to compare offers across banks and NBFCs before signing.
Note: RBI has capped foreclosure charges at zero for floating-rate PLs to individual borrowers from Jan 2024. Fixed-rate PLs may carry 2–4% prepayment fee — factor that into total cost.
Combining three cards into a single personal loan to cut effective rate from 36% to 13.5%.
| CIBIL band | Bank rate | NBFC rate | Notes |
|---|---|---|---|
| 800+ | 10.5–11.5% | 12–14% | Best rates, minimal docs |
| 750–799 | 11.5–13% | 13–16% | Pre-approved offers common |
| 700–749 | 13–16% | 15–20% | Employer category matters |
| <700 | 16–24% | 18–28% | Consider secured options first |
Chasing lowest advertised rate without checking processing fee (0.5–3%).
Taking a 60-month PL for a 24-month need — extra interest is huge.
Missing EMIs on a PL — hits CIBIL harder than any other product.
Need a CA to review your numbers? Book a free consult — we'll double-check within 24 hours.
Ask for the amortization schedule and APR (all-inclusive), not just headline rate.
Prepay in year 1 — most banks now allow zero-charge foreclosure on floating PLs.
EMI is computed using the standard reducing-balance formula: EMI = P × r × (1+r)^N / ((1+r)^N − 1), where P is the principal, r the monthly interest rate and N the tenure in months.
No. Processing fees, insurance, GST on fees and stamp duty are excluded and vary per lender. Add them separately to arrive at the true cost of the loan.
Yes. Any principal prepayment reduces the outstanding balance and therefore future interest. Prepaying earlier in the tenure saves the most interest.
EMI is computed using the standard reducing-balance formula: EMI = P × r × (1+r)^N / ((1+r)^N − 1), where P is the principal, r the monthly interest rate and N the tenure in months.
via Personal Loan CalculatorEMI is computed using the standard reducing-balance formula: EMI = P × r × (1+r)^N / ((1+r)^N − 1), where P is the principal, r the monthly interest rate and N the tenure in months.
via EMI CalculatorNo. Processing fees, insurance, GST on fees and stamp duty are excluded and vary per lender. Add them separately to arrive at the true cost of the loan.
via EMI CalculatorNo. Processing fees, insurance, GST on fees and stamp duty are excluded and vary per lender. Add them separately to arrive at the true cost of the loan.
via Personal Loan CalculatorEMI is computed using the standard reducing-balance formula: EMI = P × r × (1+r)^N / ((1+r)^N − 1), where P is the principal, r the monthly interest rate and N the tenure in months.
via Home Loan CalculatorThis dataset is free to reference in articles, research and reports. Attribution to Taxpex Consultancy is all we ask. Data last verified 31 July 2026.
Taxpex Consultancy. (2026). Personal Loan Calculator — Taxpex. Retrieved from https://taxpex.com/tools/loans-emi/personal-loan-calculator<a href="https://taxpex.com/tools/loans-emi/personal-loan-calculator">Personal Loan Calculator — Taxpex</a> — Taxpex Consultancy