Personal Loan Calculator: Plan Your Unsecured Loan
Our Personal Loan Calculator computes EMI, total interest, processing fees, and eligibility. Compare offers, add prepayments, check affordability. Ideal for weddings, travel, medical, or debt consolidation.
What is a Personal Loan?
Unsecured loan for personal use. No collateral. Quick approval. Rates: 10–24% p.a. Tenure: 1–5 years. Use for any purpose.
Key Features
- EMI Calculation: Fixed monthly payment
- Processing Fee: 0.5–3% of loan amount
- Prepayment: Reduce interest with lump-sum
- Eligibility: Based on income, credit score
- Affordability: EMI ≤ 40% of income
How to Use
- Enter loan amount, rate, tenure
- Add processing fee %
- Input prepayment (if any)
- Enter monthly income
- Get EMI, cost, eligibility
Processing Fee Impact
2% fee on $50K = $1,000. Net disbursed: $49,000. But EMI on full $50K.
Prepayment Savings
$10K prepayment in year 2 on $50K, 12%, 5-yr loan → saves ~$3,200 interest.
Eligibility Check
- Min income: $2,000/month
- Credit score: 700+
- EMI ≤ 40% of income
Affordability Meter
Green: Safe | Yellow: Caution | Red: High risk
Compare Offers
Lower rate or longer tenure? Use Loan Comparison.
Tips
- Improve CIBIL score
- Negotiate processing fee
- Prepay to save interest
- Avoid multiple applications
Conclusion
Plan smart with our Personal Loan Calculator. Know your EMI, eligibility, and savings before applying. Explore more in Finance Calculators.