Mymoneymantra Personal Loan EMI Calculator
Estimate the monthly EMI and the total repayable for a Mymoneymantra personal loan, including the processing fee and GST. Move the sliders — the result updates instantly and nothing is sent to any lender.
Assumptions: Reducing-balance interest with fixed monthly instalments; Processing fee assumed at 2% of the amount, charged upfront; 18% GST applies on the fee; Results are estimates for comparison — your lender’s Key Facts Statement is the binding figure.
Where every rupee goes
On short tenures the annualised rate can look high because one-time fees are spread over a few months. Compare the total repayable in rupees.
Example only. Your rate, fees and repayment amount depend on the lender's offer and Key Facts Statement.
Repayment schedule
| Month | EMI | Principal | Interest | Balance |
|---|---|---|---|---|
| 01 | ₹9,073 | ₹7,740 | ₹1,333 | ₹92,260 |
| 02 | ₹9,073 | ₹7,843 | ₹1,230 | ₹84,417 |
| 03 | ₹9,073 | ₹7,948 | ₹1,126 | ₹76,470 |
| 04 | ₹9,073 | ₹8,053 | ₹1,020 | ₹68,416 |
| 05 | ₹9,073 | ₹8,161 | ₹912 | ₹60,255 |
| 06 | ₹9,073 | ₹8,270 | ₹803 | ₹51,986 |
| 07 | ₹9,073 | ₹8,380 | ₹693 | ₹43,606 |
| 08 | ₹9,073 | ₹8,492 | ₹581 | ₹35,114 |
| 09 | ₹9,073 | ₹8,605 | ₹468 | ₹26,509 |
| 10 | ₹9,073 | ₹8,720 | ₹353 | ₹17,790 |
| 11 | ₹9,073 | ₹8,836 | ₹237 | ₹8,954 |
| 12 | ₹9,073 | ₹8,954 | ₹119 | ₹0 |
EMI calculator FAQ
The standard reducing-balance formula is used: EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P is the amount, r the monthly rate and n the tenure in months. Interest is charged only on the outstanding balance, so each EMI shifts gradually from interest to principal.
At an illustrative 16% p.a. reducing rate, the EMI is about ₹9,073. With a 2% processing fee (₹2,000) plus ₹360 GST, the total repayable comes to roughly ₹1,11,237. Your lender's exact figures will differ with the offered rate.
One-time fees are annualised over just a few months, which inflates the percentage even when the rupee cost is modest. On short tenures, compare offers on the total repayable in rupees rather than the APR alone.
A longer tenure lowers the EMI but increases total interest, because interest accrues for longer. Use the calculator to find the shortest tenure whose EMI fits comfortably in your monthly budget.