Personal Loan 3 Lakh EMI Calculator
Estimate the monthly EMI and the total repayable for a personal loan 3 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 | ₹14,689 | ₹10,689 | ₹4,000 | ₹2,89,311 |
| 02 | ₹14,689 | ₹10,831 | ₹3,857 | ₹2,78,480 |
| 03 | ₹14,689 | ₹10,976 | ₹3,713 | ₹2,67,504 |
| 04 | ₹14,689 | ₹11,122 | ₹3,567 | ₹2,56,382 |
| 05 | ₹14,689 | ₹11,271 | ₹3,418 | ₹2,45,111 |
| 06 | ₹14,689 | ₹11,421 | ₹3,268 | ₹2,33,690 |
| 07 | ₹14,689 | ₹11,573 | ₹3,116 | ₹2,22,117 |
| 08 | ₹14,689 | ₹11,727 | ₹2,962 | ₹2,10,390 |
| 09 | ₹14,689 | ₹11,884 | ₹2,805 | ₹1,98,506 |
| 10 | ₹14,689 | ₹12,042 | ₹2,647 | ₹1,86,464 |
| 11 | ₹14,689 | ₹12,203 | ₹2,486 | ₹1,74,261 |
| 12 | ₹14,689 | ₹12,365 | ₹2,323 | ₹1,61,896 |
| 13 | ₹14,689 | ₹12,530 | ₹2,159 | ₹1,49,365 |
| 14 | ₹14,689 | ₹12,697 | ₹1,992 | ₹1,36,668 |
| 15 | ₹14,689 | ₹12,867 | ₹1,822 | ₹1,23,801 |
| 16 | ₹14,689 | ₹13,038 | ₹1,651 | ₹1,10,763 |
| 17 | ₹14,689 | ₹13,212 | ₹1,477 | ₹97,551 |
| 18 | ₹14,689 | ₹13,388 | ₹1,301 | ₹84,163 |
| 19 | ₹14,689 | ₹13,567 | ₹1,122 | ₹70,596 |
| 20 | ₹14,689 | ₹13,748 | ₹941 | ₹56,848 |
| 21 | ₹14,689 | ₹13,931 | ₹758 | ₹42,917 |
| 22 | ₹14,689 | ₹14,117 | ₹572 | ₹28,801 |
| 23 | ₹14,689 | ₹14,305 | ₹384 | ₹14,496 |
| 24 | ₹14,689 | ₹14,496 | ₹193 | ₹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 ₹14,689. With a 2% processing fee (₹6,000) plus ₹1,080 GST, the total repayable comes to roughly ₹3,59,614. 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.