Calculate your monthly EMI for ₹20 Lakh personal loan. Compare interest rates across all major Indian banks.
| Year | Principal | Interest | Balance |
|---|
Planning a ₹20 Lakh personal loan? The monthly EMI varies based on the interest rate and tenure. At an average rate of 11.57% for 3 years, your EMI would be approximately ₹66,019 per month.
For ₹20 Lakh · Tenure: 3 years
| Bank | Interest Rate | Monthly EMI | Total Interest |
|---|---|---|---|
| Indian Bank | 10.30 - 14.15% | ₹64,816 | ₹3,33,376 |
| PNB | 10.40 - 14.85% | ₹64,911 | ₹3,36,796 |
| Axis Bank | 10.49 - 22.00% | ₹64,995 | ₹3,39,820 |
| IndusInd Bank | 10.49 - 26.00% | ₹64,995 | ₹3,39,820 |
| Yes Bank | 10.49 - 20.00% | ₹64,995 | ₹3,39,820 |
| Federal Bank | 10.49 - 17.99% | ₹64,995 | ₹3,39,820 |
| IDFC First Bank | 10.49 - 23.99% | ₹64,995 | ₹3,39,820 |
| HDFC Bank | 10.50 - 21.00% | ₹65,005 | ₹3,40,180 |
| IDBI Bank | 10.50 - 14.50% | ₹65,005 | ₹3,40,180 |
| Canara Bank | 10.55 - 14.20% | ₹65,052 | ₹3,41,872 |
| Bank of Baroda | 10.60 - 14.50% | ₹65,099 | ₹3,43,564 |
| Central Bank | 10.70 - 14.70% | ₹65,194 | ₹3,46,984 |
| ICICI Bank | 10.75 - 19.00% | ₹65,241 | ₹3,48,676 |
| Union Bank | 10.80 - 14.50% | ₹65,288 | ₹3,50,368 |
| Bank of India | 10.85 - 14.85% | ₹65,335 | ₹3,52,060 |
The EMI for ₹20 Lakh Personal Loan depends on the interest rate and tenure. At 9% for 3 years, the EMI is approximately ₹63,599 per month. Use the calculator above for exact values.
Interest rates vary across banks. Public sector banks like SBI, Bank of Baroda, and PNB generally offer lower rates for Personal Loan. Compare EMIs across all banks using the comparison table on this page.
At 9% for 3 years, total interest on ₹20 Lakh Personal Loan would be approximately ₹2,89,564. A shorter tenure significantly reduces total interest paid.
The ideal tenure depends on your monthly budget. A shorter tenure means higher EMI but lower total interest. For ₹20 Lakh at 9%, EMI ranges from ₹63,599 (3 years) to ₹63,599 (3 years).
Most banks allow prepayment on floating rate Personal Loans without any penalty. For fixed rate loans, banks may charge 2-4% of the outstanding amount. Making partial prepayments can save you significant interest over the loan tenure.