Personal Loan 20 Lakh EMI Calculator
Estimate the monthly EMI and the total repayable for a personal loan 20 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 | ₹97,926 | ₹71,260 | ₹26,667 | ₹19,28,740 |
| 02 | ₹97,926 | ₹72,210 | ₹25,717 | ₹18,56,531 |
| 03 | ₹97,926 | ₹73,172 | ₹24,754 | ₹17,83,358 |
| 04 | ₹97,926 | ₹74,148 | ₹23,778 | ₹17,09,210 |
| 05 | ₹97,926 | ₹75,137 | ₹22,789 | ₹16,34,073 |
| 06 | ₹97,926 | ₹76,139 | ₹21,788 | ₹15,57,935 |
| 07 | ₹97,926 | ₹77,154 | ₹20,772 | ₹14,80,781 |
| 08 | ₹97,926 | ₹78,182 | ₹19,744 | ₹14,02,599 |
| 09 | ₹97,926 | ₹79,225 | ₹18,701 | ₹13,23,374 |
| 10 | ₹97,926 | ₹80,281 | ₹17,645 | ₹12,43,092 |
| 11 | ₹97,926 | ₹81,352 | ₹16,575 | ₹11,61,741 |
| 12 | ₹97,926 | ₹82,436 | ₹15,490 | ₹10,79,304 |
| 13 | ₹97,926 | ₹83,535 | ₹14,391 | ₹9,95,769 |
| 14 | ₹97,926 | ₹84,649 | ₹13,277 | ₹9,11,120 |
| 15 | ₹97,926 | ₹85,778 | ₹12,148 | ₹8,25,342 |
| 16 | ₹97,926 | ₹86,922 | ₹11,005 | ₹7,38,420 |
| 17 | ₹97,926 | ₹88,081 | ₹9,846 | ₹6,50,339 |
| 18 | ₹97,926 | ₹89,255 | ₹8,671 | ₹5,61,084 |
| 19 | ₹97,926 | ₹90,445 | ₹7,481 | ₹4,70,639 |
| 20 | ₹97,926 | ₹91,651 | ₹6,275 | ₹3,78,988 |
| 21 | ₹97,926 | ₹92,873 | ₹5,053 | ₹2,86,115 |
| 22 | ₹97,926 | ₹94,111 | ₹3,815 | ₹1,92,004 |
| 23 | ₹97,926 | ₹95,366 | ₹2,560 | ₹96,638 |
| 24 | ₹97,926 | ₹96,638 | ₹1,289 | ₹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 ₹97,926. With a 2% processing fee (₹40,000) plus ₹7,200 GST, the total repayable comes to roughly ₹23,97,429. 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.