Personal Loan EMI Calculator
Calculate EMI for personal loans. Adjust loan amount, interest rate, and tenure to find the best EMI for your needs.
Loan Details
Personal Loan EMI Results
Monthly EMI
Total Interest
₹ 1,23,844
Total Amount
₹ 6,23,844
Principal Amount
₹ 5,00,000
Payment Breakdown
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Calculate NowAbout Personal Loan EMI Calculator
Personal loans are unsecured loans that can be used for various purposes like medical emergencies, weddings, travel, home renovation, or debt consolidation. Our Personal Loan EMI Calculator helps you understand the financial commitment involved before applying for a loan.
Personal loans typically have higher interest rates compared to secured loans like home or car loans, ranging from 10% to 24% per annum. The tenure is usually shorter, from 1 to 5 years. Since these are unsecured loans, lenders heavily rely on your credit score and income stability for approval.
When using this calculator, consider that personal loans often come with processing fees (1-3% of the loan amount), prepayment charges, and other hidden costs. Some lenders offer lower interest rates for existing customers or those with high credit scores.
It's important to borrow only what you need and can afford to repay. Use this calculator to find an EMI that fits your monthly budget without straining your finances.
FAQs
Most lenders require a minimum credit score of 650-750 for personal loan approval. Higher scores get better interest rates.
Personal loan tenures typically range from 1 to 5 years, though some lenders may offer up to 7 years for larger amounts.
Yes, but most lenders charge a prepayment penalty of 2-5% if you repay before the tenure ends. Some waive this after 1-2 years.
Processing fees typically range from 1% to 3% of the loan amount, plus GST. Some lenders offer fee waivers during promotional periods.