Work out your personal loan EMI
Personal loans are unsecured, so interest rates are higher than secured loans — typically 10.5–24% per year over 1–5 years. Because the rate matters so much, even a 1–2% difference between lenders is worth chasing. Enter your loan amount, the interest rate and the tenure to see your EMI, the total interest over the loan, and a full repayment schedule. Everything runs in your browser.
Who uses this tool
Borrowers comparing offers from different lenders, people checking the cost of consolidating other debts into one loan, and anyone deciding between a shorter tenure (higher EMI, less interest) and a longer one.
How to use it
- Enter your personal loan amount, the interest rate and the tenure.
- Optionally set the month the loan starts so the schedule shows real dates.
- Click Calculate EMI to see your EMI, total interest, and the year-by-year schedule. Tap any year to expand its months.
Frequently asked questions
Why are personal loan rates higher?
They're unsecured — there's no collateral — so lenders charge more for the added risk, usually 10.5–24% per year.
What tenure can I take?
Usually 1–5 years. A shorter tenure means a higher EMI but much less total interest.
Are there prepayment charges?
Many lenders charge a foreclosure/prepayment fee — check the terms before assuming you can prepay for free.
Does a higher credit score help?
Usually yes — a better score often earns a lower rate, which directly cuts your EMI and total interest.