Personal Loan Calculator - Instant Loan EMI Calculator
Calculate personal loan EMI, total interest, and monthly payments instantly. Find affordable loan amount based on your budget. Compare offers with our free personal loan calculator.
Loan Breakdown
Loan Eligibility Check
How Personal Loan Calculator Works
Calculate personal loan EMI in 3 simple steps:
Enter Loan Amount
Enter the personal loan amount you need (₹50K to ₹50L). Most banks offer instant approval for amounts up to ₹5 lakhs.
Set Interest Rate & Tenure
Enter interest rate (9-24%). Choose tenure from 1-30 years. Shorter tenure = higher EMI but lower total interest.
View EMI & Eligibility
See monthly EMI, total interest, and minimum income required. Plan your finances accordingly.
Types of Personal Loans
Instant Personal Loan
Quick approval in minutes, up to ₹5L. Minimal documentation. Higher interest (14-18%). Best for emergencies.
Salaried Personal Loan
For employed individuals. Lower rates (10.5-14%). Higher amounts (up to ₹40L). Requires salary slips and ITR.
Self-Employed Loan
For business owners. Rates 12-16%. Need business proof, GST, ITR. Up to ₹25L based on income.
Education Loan
For studies in India/abroad. Lower rates (9-12%). Moratorium period available. Up to ₹1.5Cr for foreign education.
Wedding Loan
Special loan for marriages. Rates 11-15%. Quick disbursal. Tenure up to 5 years. Covers venue, catering, jewelry.
Medical Emergency Loan
For health emergencies. Instant approval. Rates 12-16%. Up to ₹10L. No collateral needed.
Why Use Our Personal Loan Calculator?
Instant EMI Calculation
Calculate monthly EMI instantly. Know exact payment before applying for loan.
Eligibility Check
See minimum income required. Check if you qualify before applying.
100% Accurate
Uses standard EMI formula. Results match bank calculations exactly.
Multi-Currency
Calculate in INR, USD, EUR, GBP, AED. Works for personal loans worldwide.
Compare Offers
Compare EMI for different rates and tenures. Choose best loan offer.
Mobile Ready
Calculate loan EMI on any device. Plan finances on the go.
Frequently Asked Questions
What is a personal loan?
Personal loan is unsecured credit provided by banks/NBFCs for any purpose - medical, wedding, travel, debt consolidation. No collateral needed. Amount: ₹50K-₹40L. Tenure: 1-30 years. Interest: 9-24% depending on credit score.
What is current personal loan interest rate?
Current rates (2025): 10.5-14% for good credit (750+ score), 14-18% for average credit (650-750), 18-24% for low credit (<650). PSU banks: 10.5-12%, Private banks: 11-15%, NBFCs: 13-24%.
How much personal loan can I get on ₹50,000 salary?
Banks approve loans where EMI is max 50% of salary. ₹50K salary = max ₹25K EMI = ~₹8L loan at 12% for 3 years. Actual eligibility depends on existing EMIs, credit score, and bank policy.
What documents needed for personal loan?
Salaried: Aadhaar, PAN, 3 months salary slips, 6 months bank statement. Self-employed: Aadhaar, PAN, 2 years ITR, business proof, bank statements. Additional: Employment letter, Form 16, credit report.
Can I prepay personal loan?
Yes, prepayment allowed but charges vary. PSU banks: No charges. Private banks: 2-5% prepayment fee. NBFCs: 3-6% penalty. Check loan agreement. Prepay early to save maximum interest.
What is processing fee for personal loan?
Processing fee: 1-3% of loan amount + GST. Example: ₹5L loan = ₹10K-₹15K processing fee. Charged upfront before disbursal. Non-refundable even if loan rejected. Some banks waive during festive offers.
How to improve personal loan eligibility?
Tips: Improve credit score (>750), reduce existing EMIs, add co-applicant, choose longer tenure, show stable income, clear old dues, maintain good banking relationship, provide complete documents.
Personal loan vs credit card: which is better?
Personal Loan: Lower interest (11-14%), fixed EMI, lumpsum amount, planned expenses. Credit Card: Higher interest (36-42% annualized), flexible use, revolving credit. Use personal loan for large planned expenses, credit card for daily spending.