Personal Loan Calculator
Updated July 2026
Personal loans are unsecured, which is why rates typically sit well above home or car loans. Check the total-interest figure before borrowing — over a short tenure the EMI looks manageable while the interest quietly adds up.
Personal Loan
Frequently Asked Questions
What interest rate should I expect?
Personal loan rates are typically in the low-to-high teens depending on your credit score, income and lender. Compare the APR, not just the headline rate.
Does a personal loan give tax benefit?
Generally no. If the funds are demonstrably used for house construction, business, or an asset purchase, interest may be claimable — keep documentation.
Can I prepay a personal loan?
Usually after a lock-in of a few EMIs, often with a foreclosure charge. Check the terms before signing.