Personal loan EMI calculator
Know your EMI before you borrow. This personal loan EMI calculator shows your monthly payment, the total interest and what you'll repay in all.
Loans through Rinn range from ₹10,000 to ₹2,00,000 over 3 to 24 months. Interest starts from 16% p.a.; use the rate from your offer if you have one.
It's free, it doesn't touch your credit score, and the numbers you enter stay in your browser.
Work out your EMI
Adjust the amount, rate and tenure. Your estimate updates as you go.
Your estimated EMI
₹4,537 a month
- Total interest
- ₹4,444
- Total you'd repay
- ₹54,444
₹50,000 principal · ₹4,444 interest
Illustration at the starting rate of 16% p.a., excluding any charges. Your rate, EMI and APR are in your Key Fact Statement.
Get the Rinn appView repayment schedule
| Month | EMI | Principal | Interest | Balance left |
|---|---|---|---|---|
| 1 | ₹4,537 | ₹3,870 | ₹667 | ₹46,130 |
| 2 | ₹4,537 | ₹3,921 | ₹615 | ₹42,209 |
| 3 | ₹4,537 | ₹3,974 | ₹563 | ₹38,235 |
| 4 | ₹4,537 | ₹4,027 | ₹510 | ₹34,208 |
| 5 | ₹4,537 | ₹4,080 | ₹456 | ₹30,128 |
| 6 | ₹4,537 | ₹4,135 | ₹402 | ₹25,993 |
| 7 | ₹4,537 | ₹4,190 | ₹347 | ₹21,803 |
| 8 | ₹4,537 | ₹4,246 | ₹291 | ₹17,557 |
| 9 | ₹4,537 | ₹4,302 | ₹234 | ₹13,255 |
| 10 | ₹4,537 | ₹4,360 | ₹177 | ₹8,895 |
| 11 | ₹4,537 | ₹4,418 | ₹119 | ₹4,477 |
| 12 | ₹4,537 | ₹4,477 | ₹60 | ₹0 |
Figures are rounded to the nearest rupee, so rows may not add up exactly and your lender's schedule may differ by a few rupees.
How is personal loan EMI calculated?
An EMI (equated monthly instalment) is the fixed amount you repay each month. Part of it pays interest and the rest pays down the loan. Personal loan EMIs on a reducing balance use this formula:
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1)
- P is the loan amount (the principal)
- r is the monthly interest rate: the annual rate ÷ 12 ÷ 100
- n is the tenure in months
Worked example: ₹1,00,000 at 16% p.a. for 24 months. The monthly rate is r = 16 ÷ 12 ÷ 100 = 0.013333. Put that into the formula and the EMI is ₹4,896. Over 24 months you repay ₹1,17,511 in all, of which ₹17,511 is interest.
A longer tenure lowers each EMI but means more interest in total. A shorter one costs more each month and less overall.
Personal loan EMI table at 16% p.a.
| Loan amount | 3 months | 6 months | 12 months | 18 months | 24 months |
|---|---|---|---|---|---|
| ₹10,000 | ₹3,423 | ₹1,745 | ₹907 | ₹629 | ₹490 |
| ₹25,000 | ₹8,557 | ₹4,363 | ₹2,268 | ₹1,571 | ₹1,224 |
| ₹50,000 | ₹17,113 | ₹8,727 | ₹4,537 | ₹3,143 | ₹2,448 |
| ₹1,00,000 | ₹34,226 | ₹17,453 | ₹9,073 | ₹6,286 | ₹4,896 |
| ₹1,50,000 | ₹51,339 | ₹26,180 | ₹13,610 | ₹9,428 | ₹7,344 |
| ₹2,00,000 | ₹68,452 | ₹34,906 | ₹18,146 | ₹12,571 | ₹9,793 |
EMI on a ₹1 lakh loan for 2 years
₹4,896 a month at 16% p.a., with ₹17,511 in total interest over 24 months.
EMI on a ₹2 lakh personal loan
₹9,793 a month over 24 months (₹35,023 in total interest), or ₹18,146 a month over 12 months, at 16% p.a.
EMI on a ₹1.5 lakh loan
₹7,344 a month over 24 months (₹26,267 in total interest), or ₹13,610 a month over 12 months, at 16% p.a.
Found an EMI that fits? Check your eligibility for free, then apply in the Rinn app and see your exact rate, EMI and every charge before you say yes.
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Frequently asked questions
Is the EMI calculator free, and does it affect my credit score?
Yes, it’s free, needs no sign-up and has no effect on your credit score. It doesn’t ask for your name or number, makes no credit-bureau enquiry and doesn’t start an application. The figures you enter stay on the page.
Why does the calculator start at 16%?
Because interest on loans through Rinn starts from 16% p.a. Your own rate is decided by the lender and may be higher, so treat 16% as the low end and try higher rates too.
What is the EMI on a ₹1,00,000 loan?
At the starting rate of 16% p.a., it’s about ₹9,073 a month over 12 months or ₹4,896 a month over 24 months, excluding any charges. Your actual EMI is in your Key Fact Statement.
What is the EMI on a ₹2,00,000 loan for 24 months?
At the starting rate of 16% p.a., it’s about ₹9,793 a month, with ₹35,023 in total interest, excluding any charges. Your actual figures are in your Key Fact Statement.
Does a longer tenure lower my EMI?
Yes, a longer tenure lowers each EMI, but you pay more interest overall. On ₹1,00,000 at 16% p.a., 12 months costs ₹8,877 in interest and 24 months costs ₹17,511. Loans through Rinn run for 3 to 24 months, so the calculator stays within that range.
Does the calculator include the processing fee?
No, it shows principal and interest only. Any applicable charges, such as a processing fee, are shown in your Key Fact Statement before you accept.
Why might my final EMI be different from this estimate?
Because the lender decides your amount, rate and tenure after assessing your application. The final EMI, APR and total payable are in your Key Fact Statement, which you see before you accept.
I’m already finding my EMIs hard. Should I borrow to cover them?
We’d encourage you not to, as borrowing to repay other loans usually makes things harder. Talk to your existing lenders early, as they may have options, and read what to do if you’re struggling with an EMI.