Unsecured Finance
Personal Loan EMI Calculator
Calculate your monthly personal loan EMI, total interest cost, upfront bank processing fees, and overall cost of borrowing across tenures of 1 to 5 years.
Loan Particulars Unsecured Loan
Typical bank rates range from 10.5% to 16% depending on CIBIL score.
Borrowing Summary
Monthly EMI Payable
₹ 10,035
Total Interest Outflow:
₹ 61,245
Processing Fee Deducted:
₹ 4,500
Total Cash Outflow:
₹ 3,65,745
Financial Tip:
Because personal loans are collateral-free, interest rates are higher than secured loans. Prepaying or making part-payments whenever surplus funds are available can save substantial interest.
Personal Loan EMI Computation
Personal loans are calculated using reducing balance amortization. Unlike flat rate loans where interest is charged on the full principal throughout, reducing balance calculates interest only on the outstanding loan balance each month.
Total Cost = Principal + Total Interest + Processing Fee