Personal Loan EMI Calculator
Calculate EMI for personal loans. Includes processing fee, prepayment scenarios, and total cost analysis.
Loan Details
Banks: 10-14% | NBFCs: 14-24% | Fintech apps: 16-36%
Deducted upfront. You receive ₹4.90 L in hand.
Monthly EMI
₹16,607
Total Interest
₹97,852
Total Cost (Interest + Fee)
₹1.08 L
Amount Received in Hand
₹4.90 L
But you repay full ₹5.00 L + interest
Principal vs Interest vs Processing Fee
See the real cost breakdown of your personal loan
Personal Loan Tips
- Always compare effective rate: A loan with 12% interest + 2% processing fee costs more than 13% with 0% fee
- Prefer bank loans over apps: Fintech apps (KreditBee, MoneyTap) charge 24-36%
- Prepay when possible: Most banks allow partial prepayment after 6 months with 2-4% charges
- Check foreclosure charges: Some banks charge 5% + GST for early closure
- Don't take personal loan for investment: At 12%+ rate, very few investments beat it