Personal Loan EMI Calculator India — FY 2025-26
Calculate your personal loan EMI instantly. See how your CIBIL score impacts the interest rate, compare the true cost across credit score tiers, and check if a balance transfer to a lower rate saves money after processing fees. Updated with March 2026 bank rates and RBI rules.
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How to Use This Calculator
Personal Loan EMI tab
Enter the loan amount you need, the interest rate offered by your bank, and the loan tenure in years. The calculator instantly shows your monthly EMI, total interest payable, total repayment amount, and estimated processing fee with GST. Use this to compare offers from different banks before applying.
Credit Score Impact tab
Enter the loan amount and tenure, then select your CIBIL score tier. The calculator shows the EMI and total interest at each credit score level side-by-side, so you can see exactly how much a better CIBIL score saves you. If your score is below 750, it shows the potential savings from improving it.
Balance Transfer tab
Enter your outstanding loan amount, current interest rate, remaining tenure, and the new rate offered by another bank. The calculator computes your interest savings, deducts estimated transfer costs (processing fee + GST), and tells you whether the balance transfer is worth it.
Share your result
Every input is encoded in the URL. Click Share to send your exact scenario to a friend, colleague, or financial advisor for review.
The Formula
Personal loan EMI is calculated using the standard reducing-balance (amortisation) formula:
EMI = P × r × (1 + r)n / [(1 + r)n − 1]
Where:
P = Principal loan amount
r = Monthly interest rate (annual rate / 12 / 100)
n = Total number of months (tenure in years × 12)
Total Interest:
Total Interest = (EMI × n) − P
Total Payment:
Total Payment = EMI × n
True Cost of Loan:
True Cost = Total Interest + Processing Fee + GST on Processing Fee
Processing fee is typically 1–3% of loan amount, plus 18% GST on the fee
This formula uses the reducing-balance method, where interest is charged on the outstanding principal. Each EMI payment consists of an interest component and a principal component. In the early months, a larger portion goes to interest; as the loan matures, more goes towards principal repayment.
Example
Rahul — Mumbai IT professional, &rupee;5,00,000 personal loan for 3 years
Rahul is 30, works in IT in Mumbai, and needs a &rupee;5,00,000 personal loan for his sister's wedding. His CIBIL score is 762, so he qualifies for a 12% rate from SBI. He also has a friend Amit with CIBIL 680 who gets offered 16%.
Step 1: Rahul's EMI at 12%
Step 2: Rahul's result
Step 3: Amit's cost at 16% (CIBIL 680)
Step 4: Balance transfer scenario
Rahul pays &rupee;16,607/month for his &rupee;5 lakh loan. His friend Amit, with a lower CIBIL score, pays &rupee;975 more per month — that is &rupee;35,086 extra over 3 years. A 70-point CIBIL improvement would save Amit over &rupee;35,000.