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About this tool
Personal loan EMI, total interest and true cost including processing fee, GST and the effective annual rate.
This Personal Loan EMI Calculator works out your monthly instalment on a reducing-balance personal loan, the total interest across the tenure, and the amount that actually lands in your bank account after the processing fee and 18% GST are deducted. Because unsecured personal loans in India typically carry 10.5%–24% interest plus a 1%–3% processing fee, the headline rate rarely reflects the true cost. The tool also solves for the effective annual cost, so two offers with different fees can be compared honestly.
Open Personal Loan EMI Calculator on AltFTool — it loads instantly in your browser.
Enter the values you already know.
Fine-tune the options to match your scenario.
Read the result and use it in your planning or reporting.
Adds processing fee, GST and insurance so you see the full outgo.
Solves the real cost of the EMI stream against the cash you receive.
Year-by-year principal, interest and closing balance for the whole tenure.
EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r the monthly rate (annual rate divided by 12 and by 100) and n the number of months. Interest is charged on the reducing balance, so the interest portion of each EMI falls over time.
Most lenders deduct the processing fee plus 18% GST from the disbursal. On a INR 5,00,000 loan with a 2% fee, that is INR 10,000 plus INR 1,800 GST, so about INR 4,88,200 is credited while EMIs are still calculated on the full INR 5,00,000.
It lowers the EMI but raises total interest, because you owe the balance for longer. Use the tenure presets to compare the EMI drop against the extra interest before deciding.
Usually yes, since interest accrues on the outstanding balance. Lenders may charge a foreclosure fee of roughly 2%–5% on fixed-rate personal loans, and RBI rules on prepayment charges vary by borrower and loan type, so check your loan agreement first. This tool is informational and not financial advice.
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