Personal Loan 15000 EMI Calculator
Estimate the monthly EMI and the total repayable for a personal loan 15000, 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 | ₹1,361 | ₹1,161 | ₹200 | ₹13,839 |
| 02 | ₹1,361 | ₹1,176 | ₹185 | ₹12,663 |
| 03 | ₹1,361 | ₹1,192 | ₹169 | ₹11,470 |
| 04 | ₹1,361 | ₹1,208 | ₹153 | ₹10,262 |
| 05 | ₹1,361 | ₹1,224 | ₹137 | ₹9,038 |
| 06 | ₹1,361 | ₹1,240 | ₹121 | ₹7,798 |
| 07 | ₹1,361 | ₹1,257 | ₹104 | ₹6,541 |
| 08 | ₹1,361 | ₹1,274 | ₹87 | ₹5,267 |
| 09 | ₹1,361 | ₹1,291 | ₹70 | ₹3,976 |
| 10 | ₹1,361 | ₹1,308 | ₹53 | ₹2,668 |
| 11 | ₹1,361 | ₹1,325 | ₹36 | ₹1,343 |
| 12 | ₹1,361 | ₹1,343 | ₹18 | ₹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 ₹1,361. With a 2% processing fee (₹300) plus ₹54 GST, the total repayable comes to roughly ₹16,686. 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.