What will my personal loan cost me?
Personal loans carry higher rates than secured borrowing because there is no collateral behind them. Enter what you need and see what it actually costs before you apply.
Monthly EMI
₹13,538
Indicative only. Your lender’s figures may differ. Nothing you enter here is sent anywhere or stored.
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
P is the loan amount, r the monthly rate (the yearly rate ÷ 12 ÷ 100) and n the number of months. Each month's interest is charged on what is still owed, so early EMIs are mostly interest and later ones mostly principal.
A processing fee does not change the EMI, but it is money you pay, so count it in the loan's real cost.
If you enter
You get
These are the calculator's starting values. Change them above to see your own.
Compare rates, processing fees and eligibility, then apply on the lender's own site.
HDFC Bank
Bajaj Finserv
Personal loan rates in India typically run from about 10.5% to 24% and depend on your credit score, income and employer. The rate advertised is the best case, offered to the strongest applicants.
No. It is usually deducted from the amount disbursed, so your EMI stays the same but you receive less than you borrowed. A 2% fee on ₹5,00,000 means ₹4,90,000 in your account while you repay the full ₹5,00,000.
Most lenders allow it, often after a lock-in period, and many charge a foreclosure fee on the amount still owed. Both are in the loan agreement, so check them before you plan to prepay.
Short reads that explain how it works before you decide.
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