Personal Loan 15 Lakh EMI Calculator
Estimate the monthly EMI and the total repayable for a personal loan 15 lakh, 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 | ₹73,445 | ₹53,445 | ₹20,000 | ₹14,46,555 |
| 02 | ₹73,445 | ₹54,157 | ₹19,287 | ₹13,92,398 |
| 03 | ₹73,445 | ₹54,879 | ₹18,565 | ₹13,37,519 |
| 04 | ₹73,445 | ₹55,611 | ₹17,834 | ₹12,81,908 |
| 05 | ₹73,445 | ₹56,353 | ₹17,092 | ₹12,25,555 |
| 06 | ₹73,445 | ₹57,104 | ₹16,341 | ₹11,68,451 |
| 07 | ₹73,445 | ₹57,865 | ₹15,579 | ₹11,10,586 |
| 08 | ₹73,445 | ₹58,637 | ₹14,808 | ₹10,51,949 |
| 09 | ₹73,445 | ₹59,419 | ₹14,026 | ₹9,92,530 |
| 10 | ₹73,445 | ₹60,211 | ₹13,234 | ₹9,32,319 |
| 11 | ₹73,445 | ₹61,014 | ₹12,431 | ₹8,71,306 |
| 12 | ₹73,445 | ₹61,827 | ₹11,617 | ₹8,09,478 |
| 13 | ₹73,445 | ₹62,652 | ₹10,793 | ₹7,46,827 |
| 14 | ₹73,445 | ₹63,487 | ₹9,958 | ₹6,83,340 |
| 15 | ₹73,445 | ₹64,333 | ₹9,111 | ₹6,19,006 |
| 16 | ₹73,445 | ₹65,191 | ₹8,253 | ₹5,53,815 |
| 17 | ₹73,445 | ₹66,060 | ₹7,384 | ₹4,87,755 |
| 18 | ₹73,445 | ₹66,941 | ₹6,503 | ₹4,20,813 |
| 19 | ₹73,445 | ₹67,834 | ₹5,611 | ₹3,52,979 |
| 20 | ₹73,445 | ₹68,738 | ₹4,706 | ₹2,84,241 |
| 21 | ₹73,445 | ₹69,655 | ₹3,790 | ₹2,14,586 |
| 22 | ₹73,445 | ₹70,584 | ₹2,861 | ₹1,44,003 |
| 23 | ₹73,445 | ₹71,525 | ₹1,920 | ₹72,478 |
| 24 | ₹73,445 | ₹72,478 | ₹966 | ₹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 16% p.a. reducing rate, the EMI is about ₹73,445. With a 2% processing fee (₹30,000) plus ₹5,400 GST, the total repayable comes to roughly ₹17,98,072. 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.