₹10 Lakh Personal Loan EMI: 12% for 5 Years
A ₹10 lakh personal loan at 12% over 5 years has an EMI of ₹22,244. You repay ₹13.35 lakh in total, so the interest cost is ₹3.35 lakh.
Before comparing offers, check one thing: whether the quoted 12% is a reducing-balance rate or a flat rate. The difference is large.
Updated October 2026
- Monthly EMI ₹22,244
- Total interest ₹3.35 lakh 33% of the loan
- Total repaid ₹13.35 lakh
- Loan amount ₹10 lakh
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Loan Details
₹10 Lakh
Monthly EMI
₹22,244
per month · 5 yr · 12% p.a.
Principal
₹10,00,000
Total Interest
₹3,34,667
Total Payment
₹13,34,667
Principal vs Interest — per year
Amortization Schedule
| Year | Opening Balance | Principal Paid | Interest Paid | Closing Balance |
|---|---|---|---|---|
| Year 1 | ₹10,00,000 | ₹1,55,290 | ₹1,11,643 | ₹8,44,710 |
| Year 2 | ₹8,44,710 | ₹1,74,985 | ₹91,948 | ₹6,69,725 |
| Year 3 | ₹6,69,725 | ₹1,97,177 | ₹69,756 | ₹4,72,547 |
| Year 4 | ₹4,72,547 | ₹2,22,184 | ₹44,749 | ₹2,50,363 |
| Year 5 | ₹2,50,363 | ₹2,50,363 | ₹16,570 | ₹0 |
Flat rate versus reducing rate
On a reducing-balance loan, interest is charged only on what you still owe, which is how the ₹22,244 EMI above is worked out. On a flat-rate loan, interest is charged on the full ₹10 lakh for the whole 5 years, even though you are paying the loan down.
A 12% flat quote on this loan would mean an EMI of ₹26,667 and ₹6 lakh of interest. That is the same cost as a reducing-balance rate of about 20.3%. Ask for the rate on a reducing basis, or for the annual percentage rate (APR), before you compare lenders.
3, 5 or 7 years
Shorter is cheaper in total but heavier each month. Over 3 years the EMI is ₹33,214 with ₹1.96 lakh interest; over 7 years it is ₹17,653 with ₹4.83 lakh. Because personal loans are unsecured and priced higher than home loans, the interest added by a longer tenure is steep.
| Interest rate | 3 years | 5 years | 7 years |
|---|---|---|---|
| 11% | ₹32,739 (₹1.79 lakh interest) | ₹21,742 (₹3.05 lakh interest) | ₹17,122 (₹4.38 lakh interest) |
| 12% | ₹33,214 (₹1.96 lakh interest) | ₹22,244 (₹3.35 lakh interest) | ₹17,653 (₹4.83 lakh interest) |
| 13% | ₹33,694 (₹2.13 lakh interest) | ₹22,753 (₹3.65 lakh interest) | ₹18,192 (₹5.28 lakh interest) |
EMI per month, with total interest in brackets.
Early repayment and costs
Adding ₹2,000 a month to the EMI would clear the loan in 4 years 6 months and save ₹38,832. Before you plan on that, read the loan terms: many lenders charge a fee for closing a personal loan early, especially on fixed-rate loans.
Also look beyond the rate. Processing fees on personal loans are often a percentage of the amount plus GST, and they are usually deducted from what you receive.
How quickly the loan shrinks
Short loans repay quickly. In year 1, ₹1,55,290 of your payments goes to principal and ₹1,11,643 to interest. By month 35 (2 years 11 months) half the loan is cleared.
Common questions
What is the EMI for a ₹10 lakh personal loan for 5 years?
₹22,244 a month at 12% reducing. At 11% it is ₹21,742 and at 13% ₹22,753.
How much interest will I pay?
₹3.35 lakh over 5 years at 12% reducing balance, about 33% of the amount borrowed.
What EMI-to-income ratio is sensible?
Many lenders cap total EMIs at 40% to 50% of take-home pay. On that basis, ₹22,244 suggests a take-home of about ₹44,489 to ₹55,611 a month, before counting any other loans.
Is a lower EMI from a longer tenure worth it?
It costs more overall: moving from 5 to 7 years lowers the EMI by ₹4,592 but adds ₹1.48 lakh of interest.