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A personal loan advertised at a low rate with a high processing fee often costs more than the reverse. This works out the effective rate after the fee and GST are taken off the disbursal.
Move a slider or type a number. Everything updates instantly, and the link above carries your values so you can share or save them.
Five lakh
Deducted from your disbursal, plus 18% GST on the fee itself.
Your monthly EMI
₹13,167
every month for 4 yr
₹4,88,200
You borrow ₹5,00,000 and pay EMIs on the full amount, but ₹11,800 is deducted upfront as fee plus GST.
The fee adds about 1.29% a year to what this loan really costs. Compare offers on this number, not the advertised one.
Early years are mostly interest. That is why prepaying early saves the most.
EMI on the full amount, but the effective rate is solved against the net disbursed.
Nothing is hidden. The same formula runs in a shared, unit-tested library used by every calculator on this site.
Shows what the processing fee really costs
These numbers are indicative. Your actual offer depends on the lender.
This calculator assumes the rate stays the same for the whole tenure. Most loans in India are floating rate, so your EMI can move when the RBI changes rates. Tell us your real situation and we will give you a figure you can plan around.
Questions
What people ask us most about this calculation.
We will tell you which lenders are likely to say yes to your file, and at roughly what rate, before you apply anywhere.
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