5 Lakh Instant Personal Loan EMI Calculator
Estimate the monthly EMI and the total repayable for a 5 lakh instant personal loan, 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 | ₹26,436 | ₹16,436 | ₹10,000 | ₹4,83,564 |
| 02 | ₹26,436 | ₹16,764 | ₹9,671 | ₹4,66,800 |
| 03 | ₹26,436 | ₹17,100 | ₹9,336 | ₹4,49,701 |
| 04 | ₹26,436 | ₹17,442 | ₹8,994 | ₹4,32,259 |
| 05 | ₹26,436 | ₹17,790 | ₹8,645 | ₹4,14,469 |
| 06 | ₹26,436 | ₹18,146 | ₹8,289 | ₹3,96,323 |
| 07 | ₹26,436 | ₹18,509 | ₹7,926 | ₹3,77,813 |
| 08 | ₹26,436 | ₹18,879 | ₹7,556 | ₹3,58,934 |
| 09 | ₹26,436 | ₹19,257 | ₹7,179 | ₹3,39,677 |
| 10 | ₹26,436 | ₹19,642 | ₹6,794 | ₹3,20,035 |
| 11 | ₹26,436 | ₹20,035 | ₹6,401 | ₹3,00,000 |
| 12 | ₹26,436 | ₹20,436 | ₹6,000 | ₹2,79,565 |
| 13 | ₹26,436 | ₹20,844 | ₹5,591 | ₹2,58,721 |
| 14 | ₹26,436 | ₹21,261 | ₹5,174 | ₹2,37,460 |
| 15 | ₹26,436 | ₹21,686 | ₹4,749 | ₹2,15,773 |
| 16 | ₹26,436 | ₹22,120 | ₹4,315 | ₹1,93,653 |
| 17 | ₹26,436 | ₹22,562 | ₹3,873 | ₹1,71,091 |
| 18 | ₹26,436 | ₹23,014 | ₹3,422 | ₹1,48,077 |
| 19 | ₹26,436 | ₹23,474 | ₹2,962 | ₹1,24,603 |
| 20 | ₹26,436 | ₹23,943 | ₹2,492 | ₹1,00,659 |
| 21 | ₹26,436 | ₹24,422 | ₹2,013 | ₹76,237 |
| 22 | ₹26,436 | ₹24,911 | ₹1,525 | ₹51,326 |
| 23 | ₹26,436 | ₹25,409 | ₹1,027 | ₹25,917 |
| 24 | ₹26,436 | ₹25,917 | ₹518 | ₹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 24% p.a. reducing rate, the EMI is about ₹26,436. With a 2% processing fee (₹10,000) plus ₹1,800 GST, the total repayable comes to roughly ₹6,46,253. 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.