Personal Loan EMI Calculator
See the EMI and total cost of a personal loan at current bank rates.
What you pay each year
Repayment schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹1,47,208 | ₹52,078 | ₹3,52,792 |
| 2 | ₹1,65,877 | ₹33,408 | ₹1,86,915 |
| 3 | ₹1,86,915 | ₹12,371 | ₹0 |
Assumes a fixed rate for the whole personal loan tenure. Floating-rate loans change when the repo rate changes.
Personal Loan rates as of 5 November 2026
| Lender | Rate a year | Notes |
|---|---|---|
| ICICI Bank | 9.99% – 16.50% | Mean 11.60%, Jul–Sep 2026 |
| SBI | 11.00% – 14.00% | Per Wishfin, Oct 2026 |
| HDFC Bank | 10.50% – 21.00% | Rack rate, salaried |
ICICI charges up to 2% + tax; HDFC up to 2.5% (max ₹25,000).
RBI policy rates
- Repo rate
- 5.50%
- SDF
- 5.25%
- MSF
- 5.75%
- Bank rate
- 5.75%
- CRR
- 3.00%
- SLR
- 18.00%
Last change 7 October 2026 (25 bp hike from 5.25%, stance: calibrated tightening). Next meeting 2–4 December 2026.
Source: rbi.org.inFrequently asked questions
How is personal loan EMI calculated?
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments. Early EMIs are mostly interest; the principal share grows every month.
Why did loan rates go up in October 2026?
RBI raised the repo rate by 25 basis points to 5.5% on 7 October 2026. Most floating-rate loans are linked to the repo rate (EBLR or RLLR), so banks repriced them from mid-October.