EMI on a ₹3 lakh personal loan for 1 year at 11% interest
EMI ₹26,514 per month for 1 year on ₹3,00,000 at 11% — total interest ₹18,174, total payment ₹3,18,174.
- Monthly EMI
- ₹26,514
- Total interest
- ₹18,174
- Total repayment
- ₹3,18,174
| Tenure / rate | EMI | Total interest | Total paid |
|---|---|---|---|
| 1 year | ₹26,514 | ₹18,174 | ₹3,18,174 |
| 6 years | ₹5,710 | ₹1,11,136 | ₹4,11,136 |
| 11 years | ₹3,928 | ₹2,18,457 | ₹5,18,457 |
| 10% | ₹26,375 | ₹16,497 | ₹3,16,497 |
| 10.5% | ₹26,445 | ₹17,335 | ₹3,17,335 |
| 11% | ₹26,514 | ₹18,174 | ₹3,18,174 |
| 11.5% | ₹26,585 | ₹19,014 | ₹3,19,014 |
| 12% | ₹26,655 | ₹19,856 | ₹3,19,856 |
How this is calculated
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where r is the monthly rate (annual ÷ 12 ÷ 100) and n is the number of months.
EMI कैलकुलेटर: किसी भी लोन की सही मासिक किस्त (EMI), कुल ब्याज और कुल भुगतान जानें — वही reducing-balance फ़ॉर्मूला जो हर भारतीय बैंक इस्तेमाल करता है।
Frequently asked
What is the EMI on a ₹3 lakh personal loan for 1 year at 11%?
₹26,514 per month. Over 1 year you repay ₹3,18,174 in total, of which ₹18,174 is interest.
How much interest will I pay on ₹3 lakh at 11% over 1 year?
₹18,174 — roughly 6% of the amount borrowed.
How is EMI calculated in India?
Banks use the reducing-balance method: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1). P is the principal, r the monthly interest rate and n the number of monthly instalments. Early EMIs are mostly interest; later ones mostly principal.
Does a longer tenure reduce my EMI?
Yes, but total interest rises sharply. Doubling a home-loan tenure from 10 to 20 years typically cuts the EMI by around 30% while roughly doubling the interest paid.
Is prepayment worth it?
On floating-rate home loans RBI rules prohibit prepayment penalties for individuals, so a lump-sum prepayment early in the tenure saves the most interest. Ask Simpledot with your exact loan details for a prepayment schedule.
Figures are computed exactly from the stated inputs. Bank rates, processing fees, insurance and taxes vary — treat this as the arithmetic, not an offer. Last computed October 2026.