EMI Calculator

Compute exact monthly instalments for any loan type. Instant results, zero sign-up.

👤Personal Loan EMI Calculator

Loan Amount
₹10K₹40.00L
Interest Rate (% p.a.)
9.00%36.00%
Loan Tenure
1 yr7 yr

Monthly EMI

₹16,607

for 3 years at 12.00% p.a.

Principal

₹5.00L

Interest

₹98K

Total

₹5.98L

Principal 84%
Interest 16%
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Monthly EMI

₹16,607

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💡Personal Loan Tips

A CIBIL score above 750 unlocks rates as low as 10.5% — check yours free before applying.

Opt for the shortest affordable tenure to minimize total interest outgo.

Compare the APR (Annual Percentage Rate), not just the stated interest rate — it includes fees.

Salary-account holders often get pre-approved offers at 0.5–1% lower rates.

Avoid multiple loan applications simultaneously; each hard inquiry dips your score by 5–10 points.

📊Lender Rate ComparisonRates as of Aug 2026

LenderInterest RateMax AmountMax TenureProcessing Fee
HDFC Bank10.50–21.00%No Limit5 yrUp to 2.5%
ICICI Bank10.75–19.00%No Limit7 yrUp to 2.5%
SBI Xpress Credit11.15–14.30%No Limit6 yr1% + GST
Axis Bank10.99–22.00%No Limit5 yrUp to 2%
Bajaj Finserv11.00–35.00%No Limit8 yrUp to 3.93%
Kotak Mahindra10.99–24.00%No Limit5 yrUp to 2.5%

Swipe to see more table data

Rates are indicative and subject to change. Contact lenders for exact rates based on your profile.

🧮How is EMI calculated?

EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1)
P

Principal

The loan amount you borrow from the lender

r

Monthly Rate

Annual interest rate divided by 12 × 100

n

Tenure (months)

Total number of monthly instalments

Disclaimer: EMI figures are indicative only, computed using the standard reducing-balance formula. Actual EMI, interest rates, and loan terms are subject to lender approval, your credit profile, and prevailing RBI guidelines. Contact our Grievance Officer for any disputes.

FAQs

EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is principal, r is monthly rate (annual rate ÷ 12 ÷ 100), and n is tenure in months. This is the standard reducing-balance formula used by all scheduled banks in India.

A CIBIL score of 750+ is ideal. Scores 700–749 qualify but at higher rates. Below 650, most lenders decline. Some NBFCs accept 600+ for smaller amounts with higher rates.

Processing fees (1–3%) are typically deducted upfront from the disbursed amount, not rolled into EMI. However, they increase your effective APR. Always compare APR, not just the stated interest rate.