Personal Loan EMI Calculator

Calculate the exact mathematical outgo of your personal loan and uncover the hidden fees that inflate your borrowing cost.

＋Equis / Liability Analytics
Loan Amount
₹
Interest Rate
%
Tenure
Mo
LIABILITY

Cost of Debt Ledger

Base EMI (Without GST)₹11,249/mo
Total Bank Interest+₹1,74,938
Processing Fee (w/ GST)+₹11,800
Total Repayment₹6,86,738

Asli Sach (The Brutal Truth)

GST aur processing fees ki wajah se, aapka 12.5% ka loan asal mein aapko:

~7.47% Effective Annual Rate (EAR) par pad raha hai.
EQUIS VERIFIED MATHEMATICAL AUDIT • 0% BANK COMMISSIONS
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The Math Behind Personal Loan EMI Calculator

When you take a loan, banks calculate your Equated Monthly Installment (EMI) using the reducing balance method. Understanding the exact breakdown of your principal and interest over the tenure helps you make informed financial decisions.

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1. Unsecured Risk Premium

Because there is no collateral, personal loans charge a high 'risk premium' (11-18%). Never use a personal loan for investing in the stock market.

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2. The Prepayment Penalty

Private banks hate when you prepay a personal loan. They lock you in for 6-12 months and charge a 4-5% foreclosure penalty to protect their interest income.

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3. High Processing Fees

Banks charge 1-3% processing fee upfront, plus 18% GST. This is deducted from your disbursement, meaning you pay interest on money you never received.

Frequently Asked Questions

Personal Loan vs Credit Card EMI — Which is Cheaper?expand_more
A personal loan is almost always cheaper. Personal loans charge 11% to 15% on a reducing balance. Credit Card EMIs often charge 15% to 18% PLUS a hidden 18% GST on the interest component, making them significantly more expensive.
Which bank gives personal loans at the lowest interest in 2026?expand_more
Public sector banks like SBI and PNB generally offer the lowest rates (around 10.5% to 11.5%) for salary account holders. Private banks like HDFC and ICICI offer fast disbursement but at slightly higher rates (11% to 15%).
Personal loan kitne salary par milta hai?expand_more
₹25,000 salary par bhi personal loan mil sakta hai. Most banks minimum ₹20,000-25,000 net salary maangte hain. FOIR rule ke hisab se aap maximum ₹12,500/month EMI afford kar sakte hain, jisse 3 saal mein approximately ₹3-3.5 Lakh ka loan eligible hote hain.
Personal loan ke liye CIBIL score kitna hona chahiye?expand_more
750+ CIBIL score ideal hai best rates ke liye. 700-750 pe loan milta hai lekin 1-2% extra interest ke saath. 650 se niche pe rejection chances bahut high hote hain ya phir NBFC se high rate par loan milta hai.
Kya personal loan foreclosure free hai?expand_more
Most banks 12 months ke baad zero foreclosure charge lete hain floating rate loans par. But fixed-rate personal loans may carry a 2-4% prepayment penalty. Always check the loan agreement for pre-closure terms before signing.
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Base EMI₹11,249
Total Repayment₹6,86,738

Frequently Asked Questions

Personal Loan vs Credit Card EMI — Which is Cheaper?expand_more
A personal loan is almost always cheaper. Personal loans charge 11% to 15% on a reducing balance. Credit Card EMIs often charge 15% to 18% PLUS a hidden 18% GST on the interest component, making them significantly more expensive.
Which bank gives personal loans at the lowest interest in 2026?expand_more
Public sector banks like SBI and PNB generally offer the lowest rates (around 10.5% to 11.5%) for salary account holders. Private banks like HDFC and ICICI offer fast disbursement but at slightly higher rates (11% to 15%).
Personal loan kitne salary par milta hai?expand_more
₹25,000 salary par bhi personal loan mil sakta hai. Most banks minimum ₹20,000-25,000 net salary maangte hain. FOIR rule ke hisab se aap maximum ₹12,500/month EMI afford kar sakte hain, jisse 3 saal mein approximately ₹3-3.5 Lakh ka loan eligible hote hain.
Personal loan ke liye CIBIL score kitna hona chahiye?expand_more
750+ CIBIL score ideal hai best rates ke liye. 700-750 pe loan milta hai lekin 1-2% extra interest ke saath. 650 se niche pe rejection chances bahut high hote hain ya phir NBFC se high rate par loan milta hai.
Kya personal loan foreclosure free hai?expand_more
Most banks 12 months ke baad zero foreclosure charge lete hain floating rate loans par. But fixed-rate personal loans may carry a 2-4% prepayment penalty. Always check the loan agreement for pre-closure terms before signing.