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Personal Loan Interest Calculator India 2026 – APR & Cost

Use this free Personal Loan Interest Calculator in India to reveal the true APR and compare flat-rate vs reducing-balance loan offers before you commit.

Calculate monthly payments, total interest, and true APR for any personal loan.

Loan Amount

Annual Interest Rate (%)

Loan Term (Years)

Origination Fee (%)

Currency

Monthly Payment

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Total Interest

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Origination Fee

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True APR

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Total Cost

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Net Disbursed

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Interest %

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What is a Personal Loan Interest Calculator?

A personal loan interest calculator helps you determine the true cost of borrowing, including monthly payments, total interest paid, origination fees, and the effective APR. Personal loans are typically unsecured, so rates are higher than mortgages.

Formula Used

EMI = P × r(1+r)^n / [(1+r)^n − 1] True APR accounts for origination fees on net disbursed amount

Example Calculation

Example — US — $15,000 at 12.5% for 3 years, 1% origination fee

Monthly = $502 | Total Interest = $3,072 | Fee = $150 | True APR ≈ 13.2%

Example — India — ₹5L at 14% for 2 years

Monthly EMI = ₹24,013 | Total Interest = ₹76,312 | Total = ₹5,76,312

Example — United Kingdom

£10,000 at 8% APR over 48 months. Monthly payment: £244 | Total interest: £1,712 | Total repaid: £11,712

Why Use This Calculator?

Personal loans are useful for debt consolidation, home improvements, and large purchases. However, rates vary widely by credit score. This calculator helps you understand the true cost before committing, especially when fees are involved.

What credit score do I need for a personal loan?▾

Most lenders require 640+ for approval. Rates of 6–12% typically require 720+. Below 640, expect rates of 18–36% or denials.

Fixed vs variable personal loan rates?▾

Fixed rates stay constant throughout the term — better for budgeting. Variable rates can rise, but may start lower. Most personal loans are fixed rate.

How fast can I get a personal loan?▾

Online lenders often fund within 1–3 business days. Banks may take 1–2 weeks. Some fintechs offer same-day funding.

💡 Tip: Improving your credit score by just 50 points can drop your personal loan rate by 2–4%, saving hundreds.