Personal Loan EMI Calculator
Calculate your monthly EMI, total interest & full repayment schedule. Compare rates from 40+ banks.
Year-by-Year Repayment Breakdown
| Year | Principal Paid | Interest Paid | Remaining Balance |
|---|---|---|---|
| Year 1 | ₹1,47,207 | ₹52,079 | ₹3,52,792 |
| Year 2 | ₹1,65,878 | ₹33,409 | ₹1,86,915 |
| Year 3 | ₹1,86,915 | ₹12,370 | ₹0 |
| Total | ₹5,00,000 | ₹97,858 | ₹0 |
Personal Loan Interest Rates — Top Banks (2026)
Click any rate to auto-fill the calculator above
SBI
Personal Loan
11.00% – 14.00%
p.a.
HDFC Bank
Personal Loan
10.75% – 14.50%
p.a.
ICICI Bank
Personal Loan
10.85% – 16.00%
p.a.
Axis Bank
Personal Loan
10.49% – 18.00%
p.a.
Kotak Mahindra
Personal Loan
10.99% – 16.00%
p.a.
Bank of Baroda
Personal Loan
11.40% – 17.60%
p.a.
Punjab National Bank
Personal Loan
11.49% – 14.49%
p.a.
Bajaj Finserv
Personal Loan
13.00% – 28.00%
p.a.
Tata Capital
Personal Loan
10.99% – 18.00%
p.a.
IndusInd Bank
Personal Loan
10.49% – 26.00%
p.a.
Smart Tips to Reduce Your EMI
Save lakhs on interest with these strategies
Choose Shorter Tenure
A 3-year loan instead of 5-year on ₹5L at 12% saves ₹₹69,476 in interest.
Make Prepayments
Even small prepayments of ₹10-20K per year significantly reduce your total interest. No prepayment penalty on floating rate loans.
How Personal Loan EMI is Calculated
Understanding the math behind your monthly payment
EMI Formula
EMI = P × r × (1+r)n / ((1+r)n – 1)
Principal Amount
The total loan amount you borrow from the bank
Monthly Rate
Annual rate ÷ 12 ÷ 100 (e.g., 12% → 0.01)
Total Months
Loan tenure in months (e.g., 3 years = 36)
Example: For a ₹5,00,000 loan at 12% for 3 years: r = 0.01, n = 36. EMI = 5,00,000 × 0.01 × (1.01)36 / ((1.01)36 – 1) = ₹16,607/month. Total interest paid: ₹97,858.
Frequently Asked Questions
What is EMI?
How is personal loan EMI calculated?
What factors affect my personal loan EMI?
What is the minimum CIBIL score for a personal loan?
Should I choose a longer or shorter loan tenure?
Can I prepay my personal loan early?
What is the maximum personal loan amount I can get?
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Accurate Calculations
Uses the standard reducing balance EMI formula used by all Indian banks.
40+ Bank Rates
Compare interest rates from SBI, HDFC, ICICI, Axis & all major lenders.