Personal Loan Calculator
Calculate monthly EMI and total cost for a personal loan
Loan Details
Loan Amount
The total amount you wish to borrow
Loan Term
2 years · maximum 5 years
Annual Interest Rate
Typical personal loan rates range from 12% – 22%
Monthly Payment
Rs. 24,481.56
for 2 years
Total Payable
Rs. 587,557.33
Total Interest
Rs. 87,557.33
cost of borrowing
Loan Amount
Rs. 500,000.00
principal
Interest Share
14.9%
of total payable
Breakdown
EMI is calculated using the reducing balance method. Actual repayments may vary by lender. Personal loans are capped at a maximum term of 5 years.
Calculated using reducing balance method · fixed equal monthly payment
Estimate equal monthly instalments on a reducing balance basis—the common structure for many Sri Lankan personal loans. Adjust amount, term, and annual rate to match your bank offer.
Frequently asked questions
- What is reducing balance?
- Interest is charged on the outstanding principal each month. As you pay down principal, interest portion typically decreases over time.
- Does this match commercial bank or NTB calculators?
- Banks may use slightly different rounding, fees, or insurance add-ons. Use this as an independent check of core EMI maths.
- What is a typical tenure for a personal loan?
- Many products run one to five years. Longer tenures lower monthly payment but increase total interest.