Home Loan EMI Calculator

A Home Loan EMI Calculator helps you estimate the monthly installment amount payable towards your housing loan. Whether you’re borrowing from HDFC, ICICI, SBI, Axis Bank, or any other lender, this tool gives you a quick and accurate calculation of your EMI, total interest, and total repayment amount based on the loan amount, tenure, and interest rate.

What is Home Loan EMI?

EMI (Equated Monthly Installment) is the amount a borrower pays monthly to repay the home loan. It includes the principal and the interest. Calculating your EMI in advance helps you plan your finances better and choose a suitable loan amount and tenure.

EMI Calculation Formula

The standard formula used for EMI calculation is:

EMI = [P × R × (1 + R)^N] / [(1 + R)^N – 1]

P = Loan Amount (Principal)
R = Monthly Interest Rate (Annual Rate / 12 / 100)
N = Tenure (in months)

How to Use the Home Loan EMI Calculator?

Enter the home loan amount you plan to borrow
Select the applicable annual interest rate
Choose the loan tenure (in years or months)
Click on “Calculate” to view EMI and payment breakdown

Benefits of Using a Home Loan EMI Calculator

Helps you plan monthly budget and affordability
Compare EMIs for different tenures and banks
Saves time by providing instant results
Breaks down EMI into principal and interest components

Home Loan EMI Examples (Approximate)

Loan Amount	Interest Rate	Tenure	Monthly EMI
₹30,00,000	8.50% p.a.	20 years	₹26,035
₹50,00,000	9.00% p.a.	25 years	₹41,949

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FAQs

Q: Can I prepay my home loan?

Yes, most banks allow partial or full prepayment of home loans. Check if any prepayment charges apply.

Q: Is the EMI fixed for the entire tenure?

In case of fixed-rate loans, the EMI remains constant. For floating-rate loans, EMI may change based on interest rate revisions.

Q: Does the calculator show exact EMI?

The calculator gives an estimated EMI. Final EMI depends on actual disbursement, rate of interest, and lender policies.