Personal Loan Calculator

Calculate your personal loan EMI, total cost, and check eligibility based on income. Includes processing fees and EMI-to-income ratio analysis.

About This Calculator

Personal loans are unsecured loans that can be used for various purposes like medical emergencies, home renovation, debt consolidation, or any personal financial need. Our calculator helps you understand the EMI and total cost involved.

The calculator also includes an eligibility check based on your income and existing EMIs to help you determine if you qualify for the desired loan amount.

Personal Loan Features:

  • Loan Amount: ₹50,000 to ₹40 lakh
  • Interest Rate: 10.5% to 24% per annum
  • Tenure: 1 to 7 years
  • Processing Fee: 1% to 3% of loan amount
  • No Collateral: Unsecured loan

Eligibility Criteria:

  • Age: 21 to 60 years
  • Income: Minimum ₹25,000 per month
  • Employment: Salaried or self-employed
  • Credit Score: 750+ for best rates
  • EMI Ratio: Total EMIs should not exceed 50% of income

Interest Rate Factors:

  • Credit Score: Higher score = lower interest rate
  • Income Level: Higher income = better rates
  • Employment Type: Salaried vs self-employed
  • Existing Relationship: Bank customers get preferential rates

Features:

  • EMI calculation with processing fees
  • Eligibility assessment based on income
  • EMI-to-income ratio analysis
  • Maximum eligible amount calculation
  • Total cost breakdown