Wedding on a personal loan: EMI and salary needed
- Take-home if the EMI is 40% of pay
- ₹55,610
- Interest over 5 years
- ₹3,34,640
Example: ₹10,00,000 loan at 12% for 5 years; take-home needed is where EMIs are half of pay. Example rates, not a quote.
Your take-home stays on this screen. It is not sent or saved.
A ₹10 lakh wedding loan at an example 12% over 5 years costs ₹22,244 a month. Over the five years you repay ₹13,34,640, of which ₹3,34,640 is interest. That EMI needs about ₹44,488 of take-home where total EMIs may reach 50% of income, or ₹55,610 at 40%. A wedding loan is a personal loan; use the rate your lender actually offers.
Wedding loan EMI and salary needed by amount
A “wedding loan” or “marriage loan” is a personal loan: unsecured, at a rate set by your credit score, employer and income, usually for one to five years. The table puts round loan amounts at an example 12% over 5 years.
The last column is double the EMI: the take-home at which this one instalment uses half of what reaches your bank account, the share lenders call FOIR. Both 12% and 50% are examples, and the column assumes no other loan is running.
| Loan amount | EMI | Total interest | Take-home at 50% FOIR |
|---|---|---|---|
| ₹3,00,000 | ₹6,673 | ₹1,00,380 | ₹13,346 |
| ₹5,00,000 | ₹11,122 | ₹1,67,320 | ₹22,244 |
| ₹10,00,000 | ₹22,244 | ₹3,34,640 | ₹44,488 |
| ₹15,00,000 | ₹33,367 | ₹5,02,020 | ₹66,734 |
| ₹20,00,000 | ₹44,489 | ₹6,69,340 | ₹88,978 |
The same ₹10 lakh over 2, 3, 4, 5 or 7 years
Still at 12%, only the term changes. Over 2 years the EMI is ₹47,073 and total interest ₹1,29,752. Over 3 years, ₹33,214 and ₹1,95,704. Over 4 years, ₹26,334 and ₹2,64,032. Over 5 years, ₹22,244 and ₹3,34,640. Over 7 years, where a lender allows it, ₹17,653 and ₹4,82,852.
Going from 3 years to 5 lowers the EMI by ₹10,970 a month and adds ₹1,38,936 of interest. Each ₹1 lakh borrowed adds about ₹2,224 to the 5-year EMI, so the size of the loan moves the monthly figure as much as the term does.
Where the first EMI goes
In the first month, ₹10,000 of the ₹22,244 is interest and ₹12,244 reduces the loan. Interest is charged on what is still owed, so the early EMIs are mostly interest. After one year of EMIs you still owe ₹8,44,693 of the ₹10 lakh.
Most personal loans allow a part-prepayment or foreclosure after a lock-in, often with a charge. Paying down early cuts the interest still to come; your loan agreement states the lock-in and the fee.
Processing fee, GST and tax
Lenders usually charge a processing fee, taken out of the amount paid to you, and 18% GST is added to that fee. So a ₹10 lakh loan may reach your account as a little less than ₹10 lakh while the EMI is worked out on the full amount. The loan offer states both.
Interest on a personal loan used for a wedding gives no income-tax deduction for a salaried borrower. The whole EMI comes out of take-home pay.
Saving first instead
Setting aside ₹10 lakh over 24 months takes ₹41,667 a month; over 36 months, ₹27,778, before any interest the savings earn. A 3-year loan of the same ₹10 lakh is ₹33,214 a month and costs ₹1,95,704 of interest.
Whether to borrow, save, or spend less is your own decision. The figures above are the cost on each path, at the example rate.
EMI
Questions people ask
What is the EMI on a ₹10 lakh wedding loan?
About ₹22,244 a month at an example 12% over 5 years, with ₹3,34,640 of interest. Over 3 years it is ₹33,214 a month and ₹1,95,704 of interest.
What salary do I need for a ₹10 lakh personal loan?
Roughly ₹44,488 a month in hand if this EMI may take half your pay, or ₹55,610 at a 40% limit, at an example 12% over 5 years. Other running EMIs raise both figures.
What is the EMI on a ₹5 lakh marriage loan?
About ₹11,122 a month at an example 12% for 5 years, with ₹1,67,320 of interest in total. It needs about ₹22,244 of take-home at a 50% limit.
Is wedding loan interest tax deductible?
No. Interest on a personal loan taken for a wedding gives a salaried borrower no income-tax deduction, so the full EMI comes out of take-home pay.
Related
Keep reading
See how long your money would last →
Muktify shows how long your savings would keep you going if the income stopped — from three numbers.
Try it nowLast updated 13 November 2026. Figures reflect FY 2026-27 and are educational estimates, not advice. Muktify is not SEBI-registered and never recommends or ranks any instrument. How we write and check guides.