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Calculate monthly EMI, total interest, processing fee & total cost for your personal loan
Enter loan details and click Calculate EMI
EMI stands for Equated Monthly Installment — the fixed amount you pay to the bank or NBFC every month to repay your personal loan. Unlike home loans or car loans, personal loans are unsecured — meaning no collateral is required — which is why they carry higher interest rates, typically ranging from 10% to 24% per annum in India. Each EMI payment consists of two parts: principal repayment and interest payment. In the early months of the loan, a larger portion of your EMI goes towards interest, and the principal component gradually increases over time.
For example, on a Rs 3 lakh personal loan at 14% for 3 years, your monthly EMI would be approximately Rs 10,253. Over the 3-year tenure, you would pay Rs 69,092 as total interest — about 23% of the loan amount. Additionally, banks charge a processing fee of 1-3% (Rs 3,000-9,000 on a Rs 3L loan), which is deducted from the disbursed amount. This makes the effective cost of borrowing higher than just the interest rate suggests. Understanding these numbers before borrowing helps you plan your monthly budget and avoid financial stress.
The EMI formula is: EMI = P × r × (1+r)n / ((1+r)n - 1), where P is the principal loan amount, r is the monthly interest rate (annual rate divided by 12 and then by 100), and n is the total number of monthly installments. This is the standard reducing balance formula used by all Indian banks and NBFCs including HDFC Bank, SBI, ICICI Bank, Axis Bank, Bajaj Finserv, and Tata Capital.
For instance, a Rs 5 lakh loan at 14% annual interest for 3 years: r = 14 / 12 / 100 = 0.01167, n = 3 × 12 = 36 months. Plugging into the formula gives an EMI of Rs 17,088. Over 3 years, you would pay Rs 6,15,168 in total — that is Rs 1,15,168 in interest alone, which is 23% of the original loan amount. Choosing a shorter 2-year tenure increases the EMI to Rs 24,147 but reduces total interest to Rs 79,528 — saving you Rs 35,640.
Personal loan interest rates in India vary significantly based on the lender, your credit score (CIBIL score), income, and employment type. As of 2025-26, SBI offers personal loans starting from 11% p.a., HDFC Bank from 10.75%, ICICI Bank from 10.85%, and Axis Bank from 10.49%. NBFCs like Bajaj Finserv start from 11% and Tata Capital from 10.99%. However, these are the lowest advertised rates for salaried individuals with excellent credit scores (750+). For self-employed borrowers or those with lower credit scores, rates can go up to 20-24%.
The processing fee is another important cost to consider. Most banks charge 1-3% of the loan amount as a one-time processing fee, which is either deducted from the loan amount at disbursement or charged separately. On a Rs 5 lakh loan with a 2% processing fee, you effectively receive only Rs 4,90,000 but pay EMI on the full Rs 5 lakh. Some lenders also charge prepayment or foreclosure penalties (typically 2-5% of the outstanding amount) if you want to close the loan early. Always read the fine print and compare the total cost of borrowing, not just the interest rate.
| Feature | JumpTools | HDFC Bank | PaisaBazaar | Axis Bank | BankBazaar |
|---|---|---|---|---|---|
| Price | Free | Free (leads) | Free (ads) | Free (leads) | Free (ads) |
| Registration Required | No | No | Yes (for offers) | No | Yes (for details) |
| Processing Fee Calculator | Yes - adjustable 0-5% | No | No | No | Basic mention |
| Amortization Schedule | Year-by-year chart + table | No | Basic table | No | PDF download |
| Pre-computed EMI Table | 150 amounts x 4 tenures | No | No | No | No |
| Mobile Friendly | Fully responsive | Yes | Yes | Yes | Yes |
| Privacy | 100% client-side | Server-based | Server-based | Server-based | Server-based |
Get your monthly EMI, total interest, processing fee impact, and total cost instantly with real-time sliders.
Year-by-year breakdown showing principal paid, interest paid, opening and closing balance for your personal loan.
Adjust processing fee from 0% to 5% to see its real impact on total borrowing cost — most banks charge 1-3%.
Interactive stacked area chart showing how principal vs interest components change over the loan tenure.
Quickly compare EMIs at different interest rates (10-24%) to evaluate offers from multiple banks and NBFCs.
Pre-computed EMI table for Rs 1L to Rs 1.5Cr across 1-5 year tenures at 5 different interest rates.
Enter Loan Amount Use the slider or presets to set your personal loan amount (Rs 50,000 to Rs 20,00,000).
Set Interest Rate & Tenure Adjust the interest rate (10-24%) and tenure (1-5 years) to match the offer from your bank or NBFC.
Set Processing Fee Adjust the processing fee percentage (0-5%) to factor in the upfront cost charged by the lender.
Click Calculate View monthly EMI, total interest, processing fee, amortization schedule, and total cost instantly.
Calculate personal loan EMI, total interest, processing fee impact, and year-by-year amortization schedule. Supports loan amounts Rs 50K-20L, rates 10-24%, tenures 1-5 years. 100% client-side — your financial data never leaves your browser.