APR is the true yearly cost of the loan including fees and GST. Compare loans by APR, never by advertised rate.

Personal Loan EMI + True APR

Q: Why GST on the processing fee?

The processing fee is a service, so 18% GST applies, usually deducted from disbursal.

Last updated: September 2026.

Loan amount

₹

Advertised rate (% p.a.)

Tenure (years)

Tenure (months)

Processing fee (%)

Monthly EMI

₹16,369

× 36 months · interest ₹89,297

True APR

13.42%

vs advertised 11.0%

Upfront + total cost

₹1,01,097

Fee ₹10,000 + GST ₹1,800 · in hand ₹4,88,200

Partial prepayment

You can pay a lump sum over your EMIs. On floating-rate loans sanctioned or renewed on or after 1 Jan 2026 there is no lock-in and no charge; on fixed-rate or older loans your lender may set a lock-in (often 6–12 months), a minimum amount (often 1–2 EMIs) and 1–5% charges — all must be written in your KFS.

One-time partial payment (₹)

₹

At month

Pays off in 33 months · saves ₹14,274 interest

Try the exact numbers in our prepayment comparison →

This table provides a year-by-year breakdown of your loan amortization schedule over the loan tenure.

How to use this calculator

Enter loan amount, rate, tenure and processing fee % — or tap any number box and type.
Card 1 shows EMI. Card 2 shows the true yearly rate (APR) including fee + GST.
Compare total cost below — advertised rate vs true APR.

What is this tool?

A personal loan gives you cash without collateral, but the advertised rate hides processing fees and GST. This calculator shows your EMI plus the true yearly cost (APR) so you can compare offers fairly. Use it before signing any personal loan.

What banks don't tell you (personal loans)

The advertised rate isn't lying, but it isn't the full story. A 2% processing fee plus 18% GST turns an 11% loan into roughly 11.6% APR — worse on short tenures.

Ask for the Key Fact Statement — it carries the APR, every fee and the prepayment terms. Not in the KFS means no promise.

No prepayment penalty on floating-rate personal loans since January 2026. For fixed-rate loans, get the terms in writing first.

Read the full Real Loan & EMI Guide →

This tool gives an estimate for guidance only. It is not financial advice. Confirm rates with your bank or RBI before deciding.

Common personal-loan questions

What is APR?

APR is the true yearly cost of the loan including fees and GST. Always compare two loans by APR, never by advertised rate.

Why GST on the processing fee?

The processing fee is a service, so 18% GST applies. It is usually deducted from your disbursal — you receive less in hand.

Can I prepay a personal loan early?

Floating-rate loans: yes, since January 2026 with no penalty and no lock-in. Fixed-rate loans: check the sanction letter terms.