Personal Loan Calculator
Calculate your personal loan EMI and affordability
5,00010,00,00,000
Standard personal loan rates
0.9240
Typical range: 10.5% - 24% based on credit profile and purpose
0.170
010,00,000
Usually 1-3% of loan amount (₹10,000 @ 2%)
2,5001,00,00,000
010,00,000
Total of all existing loan EMIs
Personal Loan Details
Monthly EMI:₹0
Principal Amount:₹500,000
Total Interest:₹0
Total Amount:₹0
FOIR:0% ❌
Cost Analysis
Principal Amount₹500,000
Interest Amount₹0
Processing Fee₹10,000
Effective Interest Rate:0%
Affordability Analysis
Monthly Income:₹75,000
New EMI:₹0
Existing EMIs:₹0
Total EMIs:₹0
FOIR (Recommended ≤ 50%):0%
Warning: FOIR exceeds 50%. Consider reducing loan amount or increasing income.
Repayment Schedule
Year 1:
Outstanding: ₹352,792
Paid: ₹0 (Principal: ₹147,208)
Year 2:
Outstanding: ₹186,915
Paid: ₹0 (Principal: ₹313,085)
Year 3:
Outstanding: ₹0
Paid: ₹0 (Principal: ₹500,000)
Personal Loan Tips
- • Compare rates from multiple lenders
- • Good credit score (750+) gets better rates
- • Avoid borrowing for non-essential expenses
- • Consider prepayment to reduce interest burden
- • Use only for emergencies or high-priority needs
Interest Rates by Loan Purpose
Medical Emergency
10.5-12%
Lowest rates for health needs
Education
11-13%
Special education loan rates
Debt Consolidation
11.5-14%
Consolidate high-interest debt
Home Renovation
12-15%
Home improvement financing
Wedding
12.5-16%
Wedding celebration loans
Travel/Vacation
13-18%
Higher rates for discretionary
Business Purpose
14-20%
Business use restrictions
General Purpose
12-18%
Standard personal loan
Tenure Impact Analysis
| Tenure | Monthly EMI | Total Interest | Total Payment | FOIR |
|---|---|---|---|---|
| 1 Year | ₹44,424 | ₹33,093 | ₹533,093 | 59.2% |
| 2 Years | ₹23,537 | ₹64,882 | ₹564,882 | 31.4% |
| 3 Years | ₹16,607 | ₹97,858 | ₹597,858 | 22.1% |
| 4 Years | ₹13,167 | ₹132,012 | ₹632,012 | 17.6% |
| 5 Years | ₹11,122 | ₹167,333 | ₹667,333 | 14.8% |
| 6 Years | ₹9,775 | ₹203,807 | ₹703,807 | 13.0% |
| 7 Years | ₹8,826 | ₹241,415 | ₹741,415 | 11.8% |
When to Consider Personal Loans?
Good Reasons:
- • Medical emergencies and healthcare
- • Debt consolidation at lower rates
- • Home renovation and repairs
- • Education and skill development
- • Wedding expenses (planned)
- • Business opportunities with ROI
Avoid For:
- • Luxury purchases and shopping
- • Stock market investments
- • Vacation and entertainment
- • Paying other loan EMIs
- • Impulse purchases
- • Gambling or risky investments