PhonePe Loan: These days, digital apps are not just for payments they are also offering loans. PhonePe has joined this list, making it possible to get a small loan within minutes. For many people, this is easier than visiting a bank and going through long paperwork. But the real question is if you take a ₹50,000 loan from PhonePe, how much EMI will you actually pay? Let’s break it down in simple numbers.
Interest Rate on PhonePe Loan
In 2025, PhonePe offers small-ticket personal loans in partnership with NBFCs and banks. The interest rate generally ranges between 16% and 24% annually, depending on your credit score and eligibility. The tenure is usually short between 3 months to 24 months.
EMI Calculation on ₹50,000 Loan
Let’s assume you take ₹50,000 for 1 year at an average 18% interest rate.
| Loan Amount | Interest Rate | Tenure | EMI (Approx) | Total Interest | Total Payment |
| ₹50,000 | 18% | 12 Months | ₹4,584 | ₹5,008 | ₹55,008 |
So, you will pay about ₹4,584 every month for one year. By the end of 12 months, you repay ₹55,008 out of which ₹5,008 is interest.
Now let’s also see the 2-year option at the same rate:
| Loan Amount | Interest Rate | Tenure | EMI (Approx) | Total Interest | Total Payment |
| ₹50,000 | 18% | 24 Months | ₹2,494 | ₹9,856 | ₹59,856 |
Here, your EMI reduces to ₹2,494 per month, but the total interest almost doubles.
Should You Take a PhonePe Loan?
If your need is urgent and you can repay quickly, then a short-term PhonePe loan can be useful. But if you stretch it for longer tenure, the interest cost gets heavier. For small loans like ₹50,000, always compare with bank personal loans or even credit card EMIs, because sometimes those can turn out to be cheaper.
Conclusion
A ₹50,000 PhonePe loan at 18% interest will cost you about ₹4,584 EMI for 12 months, with total repayment of ₹55,008. If you choose 2 years, the EMI becomes lighter but you pay nearly ₹10,000 extra as interest. So, quick loans are convenient, but they also come at a higher cost compared to traditional bank loans.
Disclaimer:This article is only for educational and general knowledge purposes. Interest rates, loan terms, and eligibility depend on PhonePe’s partner banks/NBFCs and may vary from person to person. Please check official details before applying for any loan.
