This is an approximate monthly repayment amount for your mortgage based on the given inputs.
This is the total interest you would pay over the entire loan period.
Get in touch with our mortgage advisors for personalized advice!
These calculators are provided only as general self-help Planning Tools. Results depend on many factors, including the assumptions you provide. We do not guarantee their accuracy, or applicability to your circumstances.
NRIs should input net income.
The home loan EMI calculator helps you calculate your Home Loan EMI with ease. This EMI calculator can assist you in making an informed decision about buying a new property. The EMI calculator is useful in planning your cashflows for servicing your home loan. Home loans are available with EMIs starting from ₹787 per lac and interest rates starting from 8.75%* p.a. with additional fea tures such as flexible repayment options and top-up loans. With a low-interest rate and long repayment tenure, this loan ensures a comfortable home loan EMI for you. Calculate the EMI that you will be required to pay for your home loan with our easy-to-understand home loan EMI calculator.
The Home Loan EMI Calculator helps in calculating the loan installment, i.e., EMI towards your home loan. It is an easy-to-use tool and acts as a financial planning tool for a home buyer.
EMI stands for Equated Monthly Installment. It includes repayment of the principal amount and payment of the interest on the outstanding amount of your home loan. A longer loan tenure (up to a maximum of 30 years) helps in reducing the EMI.
Formula for EMI Calculation is -
P x R x (1+R)^N / [(1+R)^N-1] where-
The rate of interest (R) on your loan is calculated per month.
R = Annual Rate of interest / 12 / 100
If the rate of interest is 7.2% p.a., then R = 7.2 / 12 / 100 = 0.006
For example, if a person avails a loan of ₹10,00,000 at an annual interest rate of 7.2% for a tenure of 120 months (10 years), then their EMI will be calculated as:
EMI = ₹10,00,000 * 0.006 * (1 + 0.006)^120 / (1 + 0.006)^120 - 1) = ₹11,714.
The total amount payable will be ₹11,714 * 120 = ₹14,05,703. Principal loan amount is ₹10,00,000, and the interest amount will be ₹4,05,703
Calculating the EMI manually using the formula can be tedious.
The EMI Calculator can help you calculate your loan EMI with ease.
The Home Loan EMI calculator gives a clearer understanding of the amount that needs to be paid towards the EMIs and helps make an informed decision about the outflow towards the housing loan every month. This helps estimate the loan amount that can be availed and helps in assessing the own contribution requirements and cost of the property. Therefore, knowing the EMI is crucial for calculating home loan eligibility and planning your home buying journey better.
Our tailor-made home loans cater to customers of all age groups and employment categories. We provide longer tenure loans of up to 30 years, telescopic repayment options, under adjustable rate options that specifically cater to younger customers to become home owners at an early stage of their life.
With our experience in providing home finance, we are able to understand the diverse needs of our customers and fulfill their dream of owning a home.
All you need to do is input the following details to arrive at your EMI:
Click Here to Know the Prevailing Home Loan Interest Rates
Loan amortization is the process of reducing the debt with regular payments over the loan period. A home loan amortization schedule is a table providing the details of the repayment amount, principal, and interest component.
The EMI calculators provide a fair understanding of the ratio of the principal amount to the interest due, based on the loan tenure and interest rates. EMI calculators also provide an amortization table elucidating the repayment schedule. The home loan calculator provides a complete breakdown of the interest and principal amount.
Various repayment plans are available to maximize home loan eligibility to suit diverse needs.
SURF offers an option where the repayment schedule is linked to the expected growth in your income. You can avail a higher loan amount and pay lower EMIs in the initial years. Subsequently, the repayment is accelerated proportionately with the assumed increase in your income.
FLIP offers a customized solution to suit your repayment capacity, which is likely to alter during the term of the loan. The loan is structured such that the EMI is higher during the initial years and subsequently decreases in proportion to income.
If you purchase an under-construction property, you are generally required to service only the interest on the loan amount drawn till the final disbursement of the loan and pay EMIs thereafter. In case you wish to start principal repayment immediately, you may opt to tranche the loan and start paying EMIs on the cumulative amounts disbursed.
This option provides you the flexibility to increase the EMIs every year in proportion to the increase in your income, which will result in you repaying the loan much faster.
With this option, you get a longer repayment tenure of up to 30 years. This means enhanced loan amount eligibility and smaller EMIs.
Estimate EMIs of your housing loan by using our feature-rich EMI calculator now!
After getting an estimate of EMI using the calculator, you can apply for a home loan online from the comfort of your home.
We also offer a facility for a pre-approved home loan even before you have identified your dream home. A pre-approved home loan is an in-principal approval for a loan based on your income, creditworthiness, and financial position.
Apply for a home loan online, Apply Online
If you would like us to get in touch with you, kindly leave your details with us.
Click here to know more about home loans.