About the Personal Loan Calculator
A personal loan is unsecured, which is why it usually carries a higher rate than a home or car loan, the lender has nothing but your income and credit record to rely on. This calculator works out your EMI, total interest and total repayment so you know exactly what a personal loan will cost before you borrow.
Who should use this calculator
Anyone borrowing for a one-off expense, a medical bill, a wedding, travel, home renovation or consolidating more expensive debt like credit card dues, and wants to see the real monthly cost before applying.
Personal loan interest rates in India
Personal loan rates in India typically range from about 11% to 24% per year, among the widest ranges of any loan type, because pricing depends heavily on your credit score, income stability and existing obligations. A strong credit score and a steady salaried income usually get you the lower end of that range; a thin credit file or high existing EMIs push it towards the upper end.
Documents required for a personal loan
- PAN card and a valid identity and address proof
- Latest salary slips or income proof
- Bank statements for the last three to six months
- Form 16 or ITR where applicable
Tips to get your personal loan approved faster
- Check your credit score before applying. Multiple rejected applications can hurt it further.
- Borrow only what you need. A personal loan carries no collateral discount, so every extra rupee borrowed costs you at the higher unsecured rate.
- Compare the reducing-balance rate across lenders, not just the advertised "starting from" rate, which is usually reserved for the best credit profiles.
- Ask about processing fees and prepayment charges upfront, they vary a lot between lenders and can change which offer is actually cheapest.
If you are weighing a personal loan against other options, a Kaithi Finance loan expert can talk you through what genuinely fits your situation, message us on WhatsApp for free guidance.
Personal loan interest rates in India (September 2026)
A personal loan is unsecured (nothing backs it but your credit profile) so the rate is set almost entirely by your credit score, employer category and existing obligations. The gap between the best and worst rate on offer is wider here than on any other loan type.
| Lender type | Typical rate (p.a.) | Typical max tenure | Best suited to |
|---|---|---|---|
| Public sector banks | 10.50% – 15.00% | 5–7 years | Salaried, especially government employees |
| Private banks | 10.75% – 21.00% | 5–6 years | Salaried with a 750+ score |
| NBFCs | 13.00% – 24.00% | 5 years | Thin credit files, self-employed |
| App-based / digital lenders | 16.00% – 36.00% | 1–3 years | Small, short-tenure borrowing only |
Indicative ranges as of September 2026, compiled from publicly advertised lender pricing. Rates are personalised to your credit score, income and loan-to-value, and change without notice. Always confirm the current rate, spread and reset frequency in your lender's Key Fact Statement before signing.
Personal loan EMI per ₹1 lakh
Multiply the figure below by your loan amount in lakhs to get a quick EMI estimate, a ₹25 lakh loan is simply 25 × the per-lakh EMI. Use the calculator above for the exact figure including processing fees.
| Rate (p.a.) | 1 yr | 2 yr | 3 yr | 4 yr | 5 yr |
|---|---|---|---|---|---|
| 11% | ₹8,838 | ₹4,661 | ₹3,274 | ₹2,585 | ₹2,174 |
| 13% | ₹8,932 | ₹4,754 | ₹3,369 | ₹2,683 | ₹2,275 |
| 15% | ₹9,026 | ₹4,849 | ₹3,467 | ₹2,783 | ₹2,379 |
| 18% | ₹9,168 | ₹4,992 | ₹3,615 | ₹2,937 | ₹2,539 |
| 21% | ₹9,311 | ₹5,139 | ₹3,768 | ₹3,097 | ₹2,705 |
Before you apply, worth checking
- check your borrowing capacity first, personal loan approval turns almost entirely on FOIR and credit score.
- our personal loan guide, why the rate you are offered differs from the rate advertised.
- a gold loan, usually several points cheaper if you hold jewellery.
- a loan against property, far cheaper for larger amounts if you own property.
Frequently asked questions
What is a good interest rate for a personal loan in India?
Personal loan rates in India typically range from about 11% to 24% per year, depending on your credit score, income and existing obligations. A score above 750 with a stable salaried income usually gets the lower end of that range.
Why are personal loan rates higher than home loan rates?
A personal loan is unsecured (there is no property or asset backing it) so the lender prices in more risk. A home or car loan is secured by the asset itself, which is why those rates are usually lower.
Can Kaithi Finance help me choose between a personal loan and other options?
Yes. Message us on WhatsApp with your requirement and we will help you compare a personal loan against alternatives like a loan against property or a top-up loan, based on your actual numbers.
What is the EMI for a ₹5 lakh personal loan?
At 13% per annum over 5 years, a ₹5,00,000 personal loan has an EMI of about ₹11,377 and total interest of roughly ₹1,82,600. At 3 years the EMI rises to about ₹16,848 but total interest drops sharply, the per-lakh table above shows the trade-off at every rate.
Why is my personal loan rate so much higher than advertised?
Advertised rates are the best case, offered to salaried applicants at large employers with 750+ scores and low existing obligations. Your actual quote reflects your score, employer category, income stability and FOIR. The gap between the advertised and offered rate is wider on personal loans than any other product.
Can I prepay or foreclose a personal loan early?
Usually yes, but unlike floating-rate home loans, personal loans commonly carry foreclosure charges of 2–5% of the outstanding principal, and many lenders impose a lock-in of 6–12 EMIs. Check the exact clause in your sanction letter before planning a prepayment.
Is a personal loan better than a credit card EMI?
Almost always, on cost. Credit card EMI conversions and revolving balances typically run 18–42% per annum, against 11–21% for a personal loan. If you are carrying a card balance, a personal loan used to clear it usually reduces both the rate and the total interest.
How much personal loan can I get on a ₹50,000 salary?
As a rough guide, lenders sanction 10–24 times net monthly income depending on profile, and cap total EMIs near 50% of it. On ₹50,000 net with no other EMIs, that typically means a loan of about ₹5–10 lakh. The eligibility calculator gives a figure using your actual obligations.
Does applying to several lenders hurt my credit score?
Each formal application triggers a hard enquiry, and several within a short window read as credit-hungry behaviour and can cost you a few points. Compare offers using soft quotes or through an advisor first, then apply formally to one or two.