# Personal Loan EMI Calculator with Fee and APR > Personal loan EMI calculator: see your EMI, total interest, how much reaches your account after the fee and GST, and the true APR on a 1-5 year loan. Source: https://trykosh.com/tools/personal-loan-emi-calculator Free tool - Loans and credit cards # Personal loan EMI calculator Personal loans are unsecured, so rates and fees are higher than on home or car loans. See the EMI, the fee that comes off your disbursal, and what the loan really costs each year. Rules checked 25 October 2026Free - no sign-upRuns in your browser Monthly EMI INR 16,847 for 3 years at 13% a year Total interest**INR 1,06,491** Total of all EMIs**INR 6,06,491** Cost incl. fee (APR)**14.68%** Principal **INR 5,00,000**Interest **INR 1,06,491**Fee + GST **INR 11,800** Loan amount INR 5,00,000 Total interest INR 1,06,491 Processing fee INR 10,000 GST on fee (18%) INR 1,800 Amount reaching you if the fee is deducted INR 4,88,200 Total you pay back INR 6,18,291 Repayment schedule, year by year Loan year Principal paid Interest paid Balance left Year 1 INR 1,45,639 INR 56,525 INR 3,54,361 Year 2 INR 1,65,742 INR 36,422 INR 1,88,619 Year 3 INR 1,88,619 INR 13,544 INR 0 Interest adds 21.3% to what you borrow. Early EMIs are mostly interest; the principal share grows every month. ## Upload your statement and Kosh does this for you. Upload a bank or card statement and Kosh finds every EMI and card charge, then builds the fastest way out of debt that still fits your month. [Start free](/signup?via=tool-personal-loan-emi-calculator) ## How the personal loan EMI calculator works A personal loan is a reducing-balance loan with no collateral, typically for 1 to 5 years. Because the lender has nothing to fall back on, the rate depends heavily on your credit score, income and employer, and can range widely. The 13% default is illustrative only. Processing fees on personal loans are often 1 to 3% of the amount, plus 18% GST, and are usually deducted from what you receive. So a INR 5 lakh loan with a 2% fee puts only about INR 4.88 lakh in your account, while you repay EMIs on the full INR 5 lakh. Enter the fee to see the amount that reaches you. The APR shown counts that fee: it is the yearly rate at which the cash you actually receive equals the EMIs you pay. On short personal loans a fee can add several percentage points to the effective cost, which is why the APR in the Key Fact Statement matters more than the headline rate. Switch the tenure to months if your offer is quoted that way. The schedule shows the balance month by month for loans of up to two years and year by year for longer ones, so you can see what you'd owe if you wanted to close early. APR = 12 x monthly IRR of (loan − fee − GST on fee) received, EMIs paid EMI P x r x (1 + r)ⁿ / ((1 + r)ⁿ − 1) on the full loan Fee processing fee + 18% GST, usually deducted at disbursal ## Worked example: Neha consolidates a medical bill Neha, a teacher in Bhopal, takes a INR 2 lakh personal loan at 14.5% for 24 months to pay a hospital bill. Her EMI is INR 9,650 and the interest totals INR 31,597. The 2.5% fee of INR 5,000 plus INR 900 GST is cut from the disbursal, so INR 1,94,100 reaches her account. Counting that, the loan's APR is 17.57%, three points above the quoted rate. Monthly EMI INR 9,650 for 2 years at 14.5% a year Total interest**INR 31,597** Total of all EMIs**INR 2,31,597** Cost incl. fee (APR)**17.57%** Principal **INR 2,00,000**Interest **INR 31,597**Fee + GST **INR 5,900** Loan amount INR 2,00,000 Total interest INR 31,597 Processing fee INR 5,000 GST on fee (18%) INR 900 Amount reaching you if the fee is deducted INR 1,94,100 Total you pay back INR 2,37,497 Interest adds 15.8% to what you borrow. Early EMIs are mostly interest; the principal share grows every month. [Load this example into the calculator ->](?amount=200000&rate=14.5&tenure=24&unit=months&feePct=2.5#calculator) ## Good to know - Check your credit report before applying. A score in the high 700s or above usually gets noticeably better offers, and every hard enquiry is visible to the next lender. - Personal loan interest is not tax-deductible in general. If you use the money to buy, build or repair a house, the interest can be claimed under 24(b) with proof of how it was used. - Foreclosure charges vary. Floating-rate loans to individuals carry none, but most personal loans are fixed-rate and may charge 2 to 5% if you close early. - Avoid loans pushed with insurance you didn't ask for. The premium is often added to the loan and raises the APR. - Use only regulated lenders. RBI publishes lists of banks and registered NBFCs; a lending app should name the regulated lender behind it in the Key Fact Statement. ## Frequently asked questions What is the EMI on a INR 5 lakh personal loan? At 13% for 3 years, the EMI on INR 5 lakh is about INR 16,847, and you pay around INR 1.07 lakh in interest. With a 2% processing fee plus GST, about INR 4.88 lakh reaches your account. Why is the APR higher than the interest rate? Because the processing fee and GST reduce the money you actually receive while your EMIs stay the same. The APR spreads that cost over the loan, so a 2-3% fee on a two-year loan can add two to three percentage points to the yearly cost. Is a shorter or longer tenure better for a personal loan? A shorter tenure means a higher EMI but much less interest. Since personal loan rates are high, each extra year adds a lot. Pick the shortest tenure whose EMI keeps your total EMIs comfortably under about 40% of take-home pay. Can I prepay a personal loan? Most lenders allow it after a lock-in of 6 to 12 EMIs, with a foreclosure charge on fixed-rate loans. Compare the charge with the interest you'd save on the remaining tenure before you decide. Does a personal loan affect my credit score? The application creates a hard enquiry and the new loan adds to your debt, which can dip your score briefly. Paying every EMI on time builds your history and usually improves the score over the life of the loan. ## Sources and assumptions - [Reserve Bank of India](https://www.rbi.org.in/) Rules and rates last checked on 25 October 2026. Results are estimates for planning and education, not tax, legal or investment advice. Kosh is an educational financial planning tool by Primedepth Labs. It is not a SEBI-registered investment adviser and does not offer personalised investment advice, hold your money or execute trades. Markets carry risk; read scheme documents carefully and consult a registered adviser before acting.