Loan EMI Calculator


Loan EMI

Total Interest Payable

Total Payment
(Principal + Interest)

What is EMI?

An Equated Monthly Installment (EMI) is the monthly payment made to a bank or financial institution until the full loan amount is repaid. It comprises both the interest on the loan and a portion of the principal amount. The total of the principal and interest is divided by the loan tenure in months, and this fixed amount must be paid monthly. Initially, the interest component of the EMI is higher and gradually decreases with each payment. The percentage allocated to the principal and interest components changes over time, even though the monthly EMI remains constant.

Here is the formula to calculate EMI:


  • E is the EMI
  • P is the Principal Loan Amount
  • r is the rate of interest calculated on a monthly basis (i.e., r = Rate of Annual interest/12/100)
  • n is the loan term in number of months

For example, if you borrow ₹10,00,000 from the bank at an annual interest rate of 10.5% for 10 years (i.e., 120 months), then the EMI would be ₹13,493. Over the entire loan tenure, you would pay a total of ₹16,19,220, which includes ₹6,19,220 as interest on the loan.

Calculating EMI manually or using MS Excel for different loan scenarios can be time-consuming and prone to errors. Our EMI calculator automates this process, providing quick results along with visual charts displaying the payment schedule and the breakdown of total payments.

How can an online EMI calculator help you?

An online EMI calculator can be a valuable tool for anyone considering a loan, whether secured or unsecured. It plays a crucial role in estimating your monthly installment before you decide to take on the loan. This is important for effective financial planning. Maintaining a debt-to-income ratio below 50% increases the likelihood of loan approval.

Here's how an EMI calculator can help you:

  1. Accurate Estimates: It provides a precise estimate of your EMI amount, enabling you to plan your finances effectively.
  2. Time-Saving: Using an EMI calculator saves time by eliminating the need for manual and complex calculations.
  3. Error-Free: There is no room for miscalculations, ensuring that you receive accurate estimates every time.
  4. Loan Specific: Tailored for different types of loans, such as home loans or personal loans, the EMI breakup is specific to each loan category.

As the number of credit accounts continues to grow, having an EMI calculator at your disposal is a smart move for informed financial decision-making.

Types Of EMI Calculator

Taaza Khabre provides a range of EMI calculators catering to different loan types, simplifying the calculation of equated monthly installments. Here’s a brief overview:

1 Home Loan EMI Calculator:

  • Tailored for substantial home loan amounts with long tenures.
  • User-friendly website for instant EMI calculations.
  • Enter loan amount, tenure, and interest rate to assess home loan EMIs.

2 Car Loan EMI Calculator:

  • Ideal for calculating EMIs for significant car investments.
  • Ensures precise monthly EMI calculations.
  • Input loan amount, interest rate, and tenure for instant results.

3 Personal Loan EMI Calculator:

  • Designed for unsecured personal loans with higher interest rates.
  • Helps assess manageable EMI amounts for various purposes.
  • Enter loan amount, interest rate, and tenure for quick calculations.

4 Education Loan EMI Calculator:

  • Addresses the rising costs of education.
  • Calculates EMIs for education loans post a moratorium period.
  • Input loan amount, interest rate, and tenure to estimate EMI repayments.

5 Loan against Property EMI Calculator:

  • Tailored for secured loans against residential, commercial, or land properties.
  • Assists in determining affordable EMI amounts.
  • Input loan details to calculate repayments without financial strain.

These calculators offer a convenient way to plan your finances, providing accurate EMI estimates instantly based on your specific loan details.

Advantages of using Taaza Khabre EMI Calculator

1 . Free of Charge:
  • Access the calculator without any cost.
  • Enjoy unlimited usage at any time.
2 . 100% Accuracy:
  • Rely on the calculator’s precision.
  • Provides accurate estimates consistently.
3 Instant and Fast:
  • Experience swift and instantaneous results.
  • Obtain an accurate estimate promptly.

In addition to the loan EMI calculator, Taaza Khabre offers a range of other calculators, all free for unlimited use. Explore these tools to enhance your financial planning effortlessly.


The EMI calculator can be used for various types of loans, such as personal loans, home loans, car loans, education loans, and business loans. It helps you determine the monthly installment amount based on the loan amount, tenure, and interest rate.

The debt-to-income ratio is an important factor considered by lenders when deciding whether to approve a loan application. It measures the proportion of your monthly income that goes towards debt repayment. A lower debt-to-income ratio indicates a healthier financial situation and can increase your chances of getting approved for a loan, as it shows you have sufficient income to manage your debt obligations.

EMI stands for Equated Monthly Installment. It consists of two components: principal and interest. The principal amount is the portion of the loan that you borrowed and need to repay. The interest is the cost charged by the lender for borrowing the money. The EMI remains constant throughout the loan tenure, but the proportion of principal and interest in each EMI changes over time, with the principal amount gradually increasing and the interest amount decreasing.

Failing to pay your EMIs can have several consequences. Initially, the lender may impose late payment charges or penalties. The missed payment can also negatively impact your credit score, making it difficult for you to obtain credit in the future. If you continue to default on your loan, the lender may initiate legal action, seize collateral (if applicable), or engage in debt recovery processes. It is crucial to communicate with the lender if you’re facing financial difficulties to explore alternative options like restructuring the loan or discussing a repayment plan.