Most banks offer a maximum tenure of 5 years, but it varies by lender.
Personal Loan calculators
Calculate EMIs and interest payable for personal loans.
How to Use?
- Enter loan amount, tenure, and interest rate.
- Calculate EMI and total payable interest.
Formula
EMI = [P × r × (1 + r)^n] / [(1 + r)^n – 1]
| EMI (Equated Monthly Installment) | The fixed monthly repayment amount. |
| P | Principal amount of the home loan. |
| r | Monthly interest rate (annual interest rate divided by 12). |
| n | Total number of monthly installments (loan tenure in months) |
Advantages
- Accurate EMI planning
- Transparent interest calculation
- Helps budgeting
- Easy comparison of loan offers
FAQ's
What is the maximum loan tenure for a personal loan?
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Can I repay early?
Yes, but some lenders may charge a prepayment penalty.