Personal Loan 1 5 Lakh EMI Calculator
Estimate the monthly EMI and the total repayable for a personal loan 1 5 lakh, 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 | ₹7,344 | ₹5,344 | ₹2,000 | ₹1,44,656 |
| 02 | ₹7,344 | ₹5,416 | ₹1,929 | ₹1,39,240 |
| 03 | ₹7,344 | ₹5,488 | ₹1,857 | ₹1,33,752 |
| 04 | ₹7,344 | ₹5,561 | ₹1,783 | ₹1,28,191 |
| 05 | ₹7,344 | ₹5,635 | ₹1,709 | ₹1,22,556 |
| 06 | ₹7,344 | ₹5,710 | ₹1,634 | ₹1,16,845 |
| 07 | ₹7,344 | ₹5,787 | ₹1,558 | ₹1,11,059 |
| 08 | ₹7,344 | ₹5,864 | ₹1,481 | ₹1,05,195 |
| 09 | ₹7,344 | ₹5,942 | ₹1,403 | ₹99,253 |
| 10 | ₹7,344 | ₹6,021 | ₹1,323 | ₹93,232 |
| 11 | ₹7,344 | ₹6,101 | ₹1,243 | ₹87,131 |
| 12 | ₹7,344 | ₹6,183 | ₹1,162 | ₹80,948 |
| 13 | ₹7,344 | ₹6,265 | ₹1,079 | ₹74,683 |
| 14 | ₹7,344 | ₹6,349 | ₹996 | ₹68,334 |
| 15 | ₹7,344 | ₹6,433 | ₹911 | ₹61,901 |
| 16 | ₹7,344 | ₹6,519 | ₹825 | ₹55,382 |
| 17 | ₹7,344 | ₹6,606 | ₹738 | ₹48,775 |
| 18 | ₹7,344 | ₹6,694 | ₹650 | ₹42,081 |
| 19 | ₹7,344 | ₹6,783 | ₹561 | ₹35,298 |
| 20 | ₹7,344 | ₹6,874 | ₹471 | ₹28,424 |
| 21 | ₹7,344 | ₹6,965 | ₹379 | ₹21,459 |
| 22 | ₹7,344 | ₹7,058 | ₹286 | ₹14,400 |
| 23 | ₹7,344 | ₹7,152 | ₹192 | ₹7,248 |
| 24 | ₹7,344 | ₹7,248 | ₹97 | ₹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 ₹7,344. With a 2% processing fee (₹3,000) plus ₹540 GST, the total repayable comes to roughly ₹1,79,807. 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.