Personal Loan Calculator
Calculate your personal loan EMI, total interest, and get complete cost breakdown. Plan your loan with processing fees included.
Loan Details
₹
Fee: ₹10.00 K (deducted from loan)
Loan Amount
₹5.00 L
Processing Fee
-₹10.00 K
You Receive
₹4.90 L
Monthly EMI
₹16.61 K
Note: Personal loans are unsecured and have higher interest rates (10-24%). Processing fee is typically deducted upfront. Consider your repayment capacity before borrowing.
Loan Summary
₹16.61 KMonthly EMI
Principal₹5.00 L
Total Interest₹97.86 K
Processing Fee₹10.00 K
Total Cost₹1.08 L
Total Payment₹5.98 L
₹16.61 K
Monthly EMI
₹4.90 L
You Receive
₹1.08 L
Total Cost
7.19%
Effective Rate
Year-wise Amortization Schedule
| Year | Principal | Interest | Total Paid | Balance |
|---|---|---|---|---|
| Year 1 | ₹1.47 L | ₹52.08 K | ₹1.99 L | ₹3.53 L |
| Year 2 | ₹1.66 L | ₹33.41 K | ₹1.99 L | ₹1.87 L |
| Year 3 | ₹1.87 L | ₹12.37 K | ₹1.99 L | ₹0 |
Frequently Asked Questions
Personal Loan Guide
A personal loan is an unsecured loan that can be used for any purpose - wedding, medical emergency, travel, home renovation, or debt consolidation. Since it's unsecured, interest rates are higher than secured loans.
When to Take a Personal Loan
- Medical Emergency: When you need funds urgently for treatment
- Debt Consolidation: Combine multiple high-interest debts into one
- Wedding/Events: Fund life events without depleting savings
- Home Renovation: When you can't get a home improvement loan
Tips to Get Better Rates
- Maintain credit score above 750
- Compare offers from multiple lenders
- Negotiate processing fee waiver
- Opt for shorter tenure if affordable