At an illustrative 16% per annum, a Rs. 60,000 personal loan towards your Bangkok trip cost is repaid at Rs. 5,444 a month in equated monthly instalments (EMIs) over 12 months (1 year). A longer tenure lowers the EMI but raises the total interest.
Worked example: Aman in Kolkata
Aman is 26 and works as a salaried graphic designer in Kolkata. He earns Rs. 60,000 a month and has a CIBIL score of 730. His 5-day Bangkok trip cost is Rs. 71,800, and he has Rs. 11,800 in savings. He borrows Rs. 60,000 at an illustrative 16% per annum.
EMI = P × R × (1 + R)^N ÷ [(1 + R)^N − 1]. P is the loan amount in rupees, R is the annual rate divided by 12 and by 100, and N is the tenure in months. The formula spreads the principal and interest into equal monthly payments, so early EMIs carry more interest and later ones more principal. All figures are rounded to the nearest rupee.
| Tenure | Monthly EMI (Rs.) | Total interest (Rs.) | EMI as share of salary (%) |
|---|
| 12 months (1 year) | 5,444 | 5,326 | 9.1 |
| 24 months (2 years) | 2,938 | 10,507 | 4.9 |
Last updated: 15th October, 2026
The 24-month option lowers the EMI by Rs. 2,506 but nearly doubles the interest, adding Rs. 5,181. The processing fee on Rs. 60,000 is up to Rs. 2,478. Aman picks 12 months (1 year), so his Bangkok trip cost is repaid within the year.
What can delay approval: a CIBIL score below 650 or existing EMIs that take up a large share of your income. Names or addresses that do not match across documents, and more than one loan application in the same month, can also slow it down.
