Personal Loan Calculator
EMI and total interest on an unsecured personal loan.
The most expensive common loan
Personal loans are unsecured, so lenders charge high rates (12–24%). Because tenures are short and rates high, the interest burden is steep — borrow only what you need and repay fast.
Tip
Compare the flat vs reducing-balance rate quoted by lenders. A "flat" rate looks lower but costs far more; always compare the effective reducing-balance rate.
Frequently asked questions
Can I prepay?
Usually yes, sometimes with a small charge after a lock-in. Prepaying early saves the most interest.