Personal Loan EMI Calculator
Calculate personal loan EMI for SBI, HDFC, ICICI, Axis, Kotak and other banks. Compare tenure options instantly. Free, no sign-up, results update as you type.
Loan Details
Results
Your Monthly EMI
₹16,488
Principal
₹5,00,000
Total Interest
₹93,568
Total Payment
₹5,93,568
Yearly Amortization Schedule
| Year | Principal Paid | Interest Paid | Balance |
|---|---|---|---|
| 1 | ₹1,47,995 | ₹49,861 | ₹3,52,005 |
| 2 | ₹1,65,941 | ₹31,915 | ₹1,86,063 |
| 3 | ₹1,86,063 | ₹11,793 | ₹0 |
Personal loan rates — all 20 major lenders
| Bank | Rate (p.a.) | Open |
|---|---|---|
| 01HSBC IndiaLowest | 9.99% | |
| 02IDFC First Bank | 10.49% | |
| 03IndusInd Bank | 10.49% | |
| 04HDFC Bank | 10.50% | |
| 05DBS Bank India | 10.50% | |
| 06ICICI Bank | 10.75% | |
| 07Axis Bank | 10.99% | |
| 08Kotak Mahindra Bank | 10.99% | |
| 09Yes Bank | 10.99% | |
| 10Citibank India | 10.99% | |
| 11State Bank of India | 11.00% | |
| 12Bank of Baroda | 11.15% | |
| 13Punjab National Bank | 11.40% | |
| 14Union Bank of India | 11.40% | |
| 15Federal Bank | 11.49% | |
| 16AU Small Finance Bank | 11.99% | |
| 17RBL Bank | 12.00% | |
| 18Canara Bank | 12.15% | |
| 19Karnataka Bank | 12.49% | |
| 20South Indian Bank | 12.79% |
Rates are indicative starting rates based on publicly available information. Final rate depends on your credit score, income, and loan tenure.
For estimation only. Not professional financial, tax, or legal advice. Consult a qualified advisor before making decisions. Full disclaimer.
Personal loan interest rates (2026)
Personal loan rates in India range from 10.49% to 24% depending on your credit score, employer category (listed corporate vs SME), and relationship with the bank. Top-tier borrowers at IDFC First, HDFC, and Axis get rates as low as 10.49-11%.
Tenure is typically 12 to 60 months. Processing fee is 1-3% of loan amount. Prepayment charges apply for the first 6-12 months at most banks. All retail lending in India is regulated by the RBI Master Directions on lending.
Common questions about Personal Loan
What is the interest rate for a personal loan in India?+
Personal loan rates range from 10.5% to 24% p.a. depending on your credit score, employer, and lender. Prime customers get lower rates.
What is the max personal loan tenure?+
Most Indian banks offer personal loan tenures of 12 to 60 months (1 to 5 years). A few lenders extend up to 7 years.
What processing fees and charges should I expect?+
Banks charge a one-time processing fee of 1%-3% of the loan amount plus 18% GST. Some lenders add documentation charges of ₹500-₹2,000. Prepayment/foreclosure fees range from 2%-5% on fixed-rate loans; RBI prohibits them on floating-rate personal loans. Always ask for the total APR, not just the headline rate, to compare offers fairly.
What credit score do I need to qualify?+
A CIBIL score of 750+ gets you the best rates (10.5%-12%). Scores between 700-749 qualify but at 13%-16%. Below 700, lenders either reject or charge 18%-24%. Check your score free on CIBIL, Experian, or the RBI-mandated annual report before applying — each hard inquiry drops your score by 5-10 points for 6 months.
Are personal loan EMIs tax-deductible?+
Generally no. The one exception: if you use the loan for home renovation, business, or higher education, interest paid qualifies for deduction under Section 24(b), 37, or 80E respectively. Keep documented proof of end-use. Personal loans used for weddings, travel, or consumer durables have no tax benefit under either tax regime.
Should I prepay a personal loan?+
Yes, almost always. Personal loans at 12%-18% are the most expensive debt after credit cards. Every ₹1 lakh prepaid in the first year of a 5-year loan at 14% saves roughly ₹40,000 in interest. Check prepayment terms — floating-rate loans are fee-free, fixed-rate ones may charge 2%-4%. Prioritize personal loan prepayment over SIP top-ups if the loan rate exceeds your expected post-tax investment return.