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Personal Loan EMI Calculator

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HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee6,500
ICICI Bank
100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest11% - 13%
Tenure upto1-5 Years
Processing FeeUpto 2%
Axis Bank
Low Processing fee
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
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How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

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What is Personal Loan EMI?

EMI stands for “Equated Monthly Installment”. It is the amount you pay every month to repay your loan. It consists of both the principal and the interest charged by the lender.

What is a Personal Loan EMI Calculator?

A personal loan EMI calculator is a free online tool that is used for calculating the EMI of a loan. Along with the EMI, the calculator also shows total principal and interest payable. The calculator requires you to provide the loan amount, tenure of loan and the interest rate being offered by a lender.

What is the Amortization Schedule?

An amortization schedule is a detailed table showing a clear breakdown of each installment into principal and interest. It also shows the remaining outstanding balance after each installment.

Example: If a borrower borrows a loan of Rs. 10,00,000 at an interest rate of 10% p.a. and a tenure of 5 years, the following will his/her amortization schedule:

Month Principal (Rs.) Interest (Rs.) Principal + Interest (Rs.) Balance to be Paid (Rs.)
1 12914 8333 21247 987086
2 13021 8226 21247 974065
3 13130 8117 21247 960935
4 13239 8008 21247 947696
5 13350 7897 21247 934346
6 13461 7786 21247 920886
7 13573 7674 21247 907313
8 13686 7561 21247 893626
9 13800 7447 21247 879826
10 13915 7332 21247 865911
11 14031 7216 21247 851880
12 14148 7099 21247 837732

Note: The schedule provided is of the first 12 months of the total 60 months. For the remaining months, the principal and interest will continue to adjust accordingly.

Why Use Personal Loan EMI Calculator by Paisabazaar?

  • Helps you estimate your EMIs from multiple lenders.
  • It's free and provides quick and accurate results.
  • Helps your plan your EMIs beforehand for a smoother repayment journey.
  • Available 24*7 to be used from anywhere
  • Simple and easy to use

How to Use the Personal Loan EMI Calculator

Using a personal loan EMI calculator is simple and straightforward.

Follow these steps:

  • Select your bank
  • Enter the loan amount
  • Enter the interest rate
  • Enter the loan tenure

Once all details are entered, the calculator will display your estimated EMI.

Note: The actual EMI may vary based on the final interest rate offered by your lender.

Compare Personal Loan EMIs Across Top Banks/NBFCs

Latest personal loan interest rates by top banks and NBFCs are mentioned in the table below:

Bank/NBFCInterest Rates (% p.a.)
Aditya Birla Finance10.99 onwards
Axis Bank9.99 onwards*
Bank of Baroda10.15-18.00
Bajaj Finance Limited10.00-30.00
Bank of India10.85-16.15
Bank of Maharashtra8.75-13.55
Canara Bank9.70-15.15
Central Bank of India9.85-11.65
Cholamandalam IFC10.00-28.00
Dhani Loans & Services Ltd.13.99 onwards
Federal Bank12.00 - 22.50*
HDB Financial Services10.00 - 35.00
HDFC Bank9.99 onwards
Hero FincorpUp to 30*
HSBC Bank9.75 onwards
ICICI Bank9.99 onwards
IDFC FIRST Bank9.99 onwards
IIFL Finance12.00 - 28.00
Indian Overseas Bank10.25 onwards
IndusInd Bank10.35 onwards*
Kotak Mahindra Bank9.98 onwards*
L&T Finance11.00 onwards
Mahindra Finance8.00 - 25.00
Mannapuram Finance18.00 - 24.00
Moneyview14.00 onwards
Muthoot Finance13.50 onwards
Piramal Finance12.14 onwards
Poonawalla Fincorp9.99 onwards
Punjab & Sind Bank9.60-13.85
Punjab National Bank10.25-16.80
Shriram Finance11.00 onwards
Tata Capital10.99 onwards
UCO Bank9.95 - 13.20
Union Bank of India8.75 - 12.55
Note: Rates as of 17th April 2026

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Why Should You Use a Personal Loan EMI Calculator?

Check your affordability

  • Knowing your EMI before you borrow helps you borrow as per your repayment capacity.
  • It helps you decide how much EMI you can comfortably pay.
  • This helps reduce default chances and maintain a healthy credit profile.

    Compare tenure options

    • Loan tenure directly affects your EMI.
    • Choose a tenure that suits your repayment capacity and financial needs.
    • A longer tenure results in lower EMIs but higher total interest, while a shorter tenure means higher EMIs but lower overall interest.

    Plan for prepayments/transfer

    • Use calculator to simulate effect of part-payment or balance transfer.
    • This helps you understand potential savings on interest and adjust your repayment strategy accordingly.

    What Impacts Your Personal Loan EMIs?

    Understanding the factors that impact your loan EMIs can help reduce your cost of credit. Let us understand some key factors affecting your personal loan EMIs:

    • Loan Amount: Higher the amount borrowed, higher will be your EMI (as long as the tenure and interest rate remain the same).
    • Interest Rate: Higher personal loan interest rates lead to higher EMIs and a costlier loan repayment.
    • Tenure: Opting for a longer tenure will reduce your EMI burden, but will increase the overall interest cost on your personal loan.

    Ways to Reduce Your Personal Loan EMI or Total Cost

    • Select an extended tenure: An extended tenure decreases your EMI while raising the total interest cost.
    • Make part prepayments whenever feasible: Contributing extra towards the principal reduces your loan amount and interest obligation.
    • Evaluate before applying: Always assess personal loan offers from various lenders to secure the most favorable one with the lowest interest rate.
    • Opt for balance transfer: Transitioning to a lender with a reduced interest rate can lower both EMI and total cost of loan.

    Can Your Personal Loan EMI Change During the Loan?

    • For fixed-rate loans, the EMI generally remains the same throughout the tenure.
    • For floating-rate loans, EMIs can change if the bank revises the interest rate due to market fluctuations.
    • Prepayments or changes in loan tenure may also affect your EMI amount.

    What Happens If You Miss a Personal Loan EMI?

    • Missing an EMI may attract late payment fees from the lender.
    • It can impact your credit score, making future loans more expensive or difficult to get.
    • Prolonged non-payment may lead to legal action or loan recovery proceedings by the lender.

    How to Use the Calculator to Compare Offers Across Lenders

    Paisabazaar’s EMI calculator helps you calculate personal loan EMIs across multiple lenders. Visit the personal loan EMI calculator page, select your bank in the “Select Your Bank” section, enter the required details, and get instant results. On selecting a bank, the calculator automatically fetches the current starting interest rate and calculates your EMI. You can make modifications as needed.

    Personal Loan EMI Based on Tenure

    EMI for 1 Year

    Interest Rate Monthly EMI
    10% Rs. 87,916
    12% Rs. 88,849
    14% Rs. 89,787
    16% Rs. 90,731

    EMI for 3 Years

    Interest Rate Monthly EMI
    10% Rs. 32,267
    12% Rs. 33,214
    14% Rs. 34,178
    16% Rs. 35,159

    EMI for 5 Years

    Interest Rate Monthly EMI
    10% Rs. 21,247
    12% Rs. 22,244
    14% Rs. 23,268
    16% Rs. 24,304

    Why Early EMIs Have Higher Interest?

    To understand why early EMIs have higher interest, we have to first understand the difference between flat interest loan and reducing interest loan.

    • Flat Interest Loan: The interest is calculated on the entire loan amount throughout the tenure. The interest part of the EMI remains the same throughout the repayment period.
    • Reducing Interest Loan: The interest is calculated on the outstanding loan balance. The interest rate reduces every time you repay the loan in the form of EMI.

    Hence, if you have opted for a reducing interest loan, the interest remains higher in the EMI in the early months. With each repayment, the interest continues to decrease and the principal amount continues to increase in the EMI.

    How to Apply for Personal Loans through Paisabazaar App

    Step 1: Download the Instant Personal Loan App in your mobile phone

    Step 2: Sign in by entering the required information and verify your phone number and email address

    Step 3: Head to the Personal Loan section

    Step 4: Select income range and employment type (e.g. salaried, self employed)

    Step 5: Choose from the displayed list of curated personal loan offers

    How to calculate EMI manually for a personal loan?

    You can calculate EMI using this formula: EMI = [P x R x (1+R)^N] / [(1+R)^N – 1], where:

    P = Loan Amount;
    R = Monthly Interest Rate (Annual rate/12/100);
    N = Loan Tenure (in months)

    As manual calculations can be tedious and prone to errors, using an online personal loan EMI calculator would be a much easier and faster way to get accurate results.

    Why Choose Paisabazaar?
    image of Compare & Choose the <strong>Best Offer</strong>

    Compare & Choose the Best Offer

    image of Pre-approved Offers with <strong>Instant Disbursals</strong>

    Pre-approved Offers with Instant Disbursals

    image of Know Your <strong>Chances of Approval</strong>

    Know Your Chances of Approval

    image of End-to-End <strong>Digital Process</strong>

    End-to-End Digital Process

    How Can I Apply for a Personal Loan Online?

    Get up to 40 Lakh in 5 Simple Steps

    Step 1: Enter your mobile number in the application form

    Step 2: Provide your personal details

    Step 3: Enter OTP to verify your mobile number

    Step 4: Select the loan purpose and loan amount

    Step 5: Compare offers and apply for the best-suited loan

    Apply Now

    Avail Personal Loan for
    All Your Needs

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    All Your Needs

    FAQs

    What details are required to calculate personal loan EMI?

    You will need the amount, rate of interest and tenure of your loan to calculate your personal loan EMI.

    Can I calculate EMI for different tenures or interest rates?

    Yes, you can calculate EMIs for different tenures or interest rates by simply entering the designated space with your desired tenure and expected interest rate.

    Is the result from a Personal Loan EMI Calculator accurate?

    Yes, the result of a Personal Loan EMI Calculator is accurate based on the value you enter.

    Does using the EMI calculator affect my credit score?

    No, using a personal loan calculator does not affect your credit score. In turn, using an EMI calculator can help you stay on track with your repayments and consequently boost your credit score.

    Can I calculate EMI for prepayment or part payment using this tool?

    Yes, the tool helps you estimate EMI changes after prepayment or part payment.

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    I want to express my gratitude for your exceptional support & guidance throughout my loan application process to Aman (EW17239). Your professionalism & clear communication made the journey smooth and manageable. I appreciate how you helped during loan approval & fast-tracked the documentation. It is rare to find someone so committed to their clients. I truly value the effort you put into ensuring a successful outcome. Thanks again for your invaluable help.

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    I’d like to express my sincere appreciation for Mr. Aman Kumar (EW32023) for the excellent assistance provided. His professionalism & willingness to help made the experience smooth & pleasant. Aman Kumar demonstrated patience & clarity while addressing queries and ensured that everything was handled efficiently. Such dedication & customer-focused service truly deserve recognition. Please convey my thanks and appreciation to him for his outstanding support.

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    Very helpful and easy to reach

    I really wants to appreciate Mohankumar Dhandapani for closing my loan requirement in such a short time and nice manner. He is very much approachable helped me based on my requirements. He explained me all the options in very short time even one option failed immediately helped me to get other options worked. Excellent job done by Mohankumar Dhandapani all the best keep you same way approachable you will get more customers. Thanks to Paisabazar too.

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    I am writing this email to express my sincere thanks for your excellent support and guidance on Paisabazaar. My experience was very smooth and satisfying because of your help. You explained everything clearly and made the whole process easy and comfortable for me. I truly appreciate your professionalism, patience, and quick response. I am very happy with the service and would definitely recommend to others because of the great support I received from you. Thank you once again

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    DharmeshFeb 22, 2026

    Committed support that made everything easy

    I’d like to appreciate the Paisabazar team for the excellent loan service. I especially want to recognize one of your agents, Mr. Prince Kumar, for his outstanding support. For more than a month, he continuously followed up with me and assisted me. His commitment & professionalism made the experience smooth & hassle-free. I appreciate his efforts and dedication. Kindly acknowledge his performance and consider rewarding such a sincere employee.

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    My Trust in Paisabazaar has Increased

    I would like to take a moment to share my sincere feedback regarding the support I received from your team. The executive who assisted me was extremely professional, polite, and knowledgeable. They patiently understood my concern, explained the process clearly, and guided me step by step toward the right solution. I truly appreciate the transparency, timely responses, and genuine effort shown to help me.

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    Lalit MaviFeb 12, 2026

    Best Place for Taking Loans

    I contacted customer care with a few queries, and I am very satisfied with the support I received. The representative was polite, patient, and explained everything clearly. My questions were resolved properly, and the overall experience was smooth and helpful. Thank you for the excellent customer service

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    Kokil BarnwalFeb 12, 2026

    Easy loan approval with good guidance

    Thank you for the support provided for getting personal loan approval. During this process I worked with Mr. Aman Bajpai (EW17239) who was co-ordinator for this entire process of Personal loan, I was incredibly impressed by his efficiency and problem-solving skills. He went out of their way to ensure all my questions were answered and that the disbursement timeline stayed on track. His coordination was really appreciable.

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    Riyaj AtarFeb 9, 2026

    Apne higher education ke liye loan liya tha

    Muhje higher education ke liye loan chahiye tha. Paisabazaar pe apply kiya. Got it at the right time. Quite helpful.

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    Puja DanuJan 22, 2026

    Sabse jada helpful log the yaha

    Maine bht jagah try kiya tha personal loan ka, yaha try kiya toh helpful log mille. Har steps mai aram se samjhaya or usse muhje loan lene mai jda dikkat nhi aayi.

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    Anuradha GuptaJan 21, 2026
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