A personal loan is an option that helps to fulfill big financial needs – be it education, a medical emergency, or a dream vacation. But the most important thing before taking a loan is to understand the amount of EMI (Equated Monthly Installment). In this article, we will look at the EMI of a ₹10 lakh personal loan at different interest rates, and understand how you can make a better decision by using the 10 Lakhs Personal Loan EMI Calculator. If you are in the Madurai region of Tamil Nadu, then we will also discuss the options of local lenders there.
What is EMI?
EMI is a fixed monthly payment that the borrower makes to the lender to repay the principal and interest of their loan, whether it is for a national bank or a regional option like a personal loan madurai.
EMI has 2 parts:
Principal – Original loan amount (here ₹10 lakhs)
Interest – The charge levied on the loan, which is based on the interest rate.
Use of 10 Lakhs Personal Loan EMI Calculator
This is an online tool in which you enter the loan amount, interest rate, and tenure, and get the EMI result immediately.
Benefits:
Instant results
Easy to compare different interest rates
Got the idea of repayment capacity
EMI Table Example
1-Year Tenure
8% – ₹87,013
10% – ₹88,084
12% – ₹89,169
15% – ₹91,614
3-Year Tenure
8% – ₹31,336
10% – ₹32,267
12% – ₹33,219
15% – ₹34,632
5-Year Tenure
8% – ₹20,276
10% – ₹21,247
12% – ₹22,247
15% – ₹23,533
Higher 10 Lakhs Personal Loan EMI Calculator. If the tenure is short, the EMI increases, and if the tenure is longer, the EMI is less, but the total interest is more.
Tips to Choose the Best Loan Option
Check total interest – Short tenure reduces the interest.
Compare interest rate – Compare rates from multiple lenders.
Prepayment option – See if the lender allows early repayment or not.
Extra benefits – like zero processing fee or flexible repayment.
Loan options for the Madurai region
Local banks and NBFCs in Madurai provide personalized service:
- Easy accessibility
- Competitive interest rates
- Better customer support
Conclusion
A personal loan of ₹10 lakhs can be very helpful for emergency or big expenses. But a loan should be taken only after calculating the EMI. With the 10 Lakhs Personal Loan EMI Calculator, you can choose the best interest rate and tenure for yourself. If you are in Madurai, local lenders can also be a good option.
If you want, I can also make this Hinglish version shorter (around 400–500 words) so it’s easier to read for casual audiences, but still keeps all EMI table details. That would make it more engaging for blog readers. Would you like me to prepare that shorter version?
