Personal Loan EMI Calculator
See the EMI, processing fee and true total cost of a personal loan from the amount, rate, months and fee per cent.
- Processing fee
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- Total interest
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- Total cost of borrowing
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An estimate only; confirm all charges with your lender.
What is the Personal Loan EMI Calculator?
This personal loan EMI calculator shows the monthly instalment, the processing fee in rupees and the total cost of borrowing, including interest and fee, from the loan amount, yearly rate, tenure in months and the fee percentage you enter. It helps you compare offers on their full cost.
How it works
The EMI is P x r x (1 + r)^n divided by ((1 + r)^n - 1), with r as the yearly rate divided by 1200 and n as the months. The processing fee is the loan amount multiplied by the fee per cent. Total cost of borrowing is the interest plus the fee.
How to use it
- Enter the loan amount and the tenure in months.
- Type the yearly interest rate.
- Enter the processing fee as a per cent of the loan.
- Read the EMI, fee and the total cost of borrowing.
Personal Loan EMI Calculator — FAQ
Is the processing fee added to the EMI?
Usually it is deducted from the disbursal or paid upfront, not spread across the EMIs. Check how your lender collects it.
Why look at total cost, not just the EMI?
Two loans can have the same EMI but different fees and tenures. Total cost adds the fee to the interest so offers are comparable.
Are taxes on the fee included?
No. Any tax on the fee, insurance or other charges are not included. Add them yourself from the lender's offer document.