Home Loan EMI calculator

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Use Home Loan EMI Calculator below or Get a Customized Home Loan Quote Now

 

Get Lowest Rate Instantly With Our Home Loan EMI Calculator

Equated Monthly Installments (EMIs) are the monthly payments you make in order to pay off your home loan. On a specific date every month, you will need to pay your home loan EMI. Your home loan EMI depends upon your loan amount, interest rate and loan tenure. Use the home loan EMI calculator below to instantly get the lowest home loan EMI quotes from HDFC, Axis Bank, ICICI Bank & other leading banks.

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  •       Self Employed?
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  • This is your gross monthly salary as per your monthly payslip prior to deductions (include only payments via direct deposit or cheque i.e. exclude payments in hard cash and in-kind components)
  • Include only the following components of cost: Basic Cost, car parking (if being sold), Firefighting charges, electricity/water charges,Electrification charges, Power Back Up, Internal Development Charges (IDC), External Development Charges (EDC), Preferential Location Charges (PLC), Interest Free Maintenance Security Deposit ( IFMS), Club Membership, VAT & Service Tax, Stamp duty and registration charges.
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Looking for a Home Loan and thinking that much will your dream home cost you every month? Use our Home Loan EMI calculator and know your Equated monthly installments you need to pay every month to repay your loan. Home Loan Interest Rates generally start as low as 10.15% and you can take a Home loan for upto 20 years.

Use our Housing loan calculator to calculate your EMI and also get best home loan offers from top banks in India and Apply Online.

How it works?
  • Loan Amount: Enter the Home Loan amount using the slider or the edit box you wish to borrow. For better financial planning our monthly outgoings (EMI’s) should not be more than 40% of your monthly income.
  • Interest Rate: This is the Interest rate that is charged on the money borrowed. This rate is monthly reducing balance.
  • Tenure: Select the period for which you wish to take the Home Loan. Generally Home loan tenures are upto 20 years.
  • Processing Fees: Bank charges a processing fee at the time of disbursing a Home loan. Processing fees typically vary between 0.5% to 1% of the loan amount.

Results Overview:
  • EMI: By entering the four fields you can see your monthly EMI which you have to pay to the lender to pay off your home loan. Based on your loan EMI output you can check your home loan eligibility in real time at BankBazaar.com. Based on your eligibility BankBazaar will show you customized home loan offers from various banks. You can then select the best offer and apply online.
  • Break-up of your total amount payable: The EMI Calculator tool gives you the total Home loan amount payable to the lender. Your total loan amount payable is the sum of your loan amount (Principal), Interest payable and processing fees.

Amortization Table: Gives you a monthly break-up of your Home loan payment. You can see the following columns under the Amortization Table:
  • Starting Balance: The starting balance of any given period corresponds to the principal amount that is owed to the bank at the beginning of that period.
  • Interest Paid: This is the portion of your monthly payment that is applied towards interest. This portion will keep reducing each successive month as the Home loan matures. The rest of your monthly payment is applied towards the Home loan principal.
  • Principal Paid: This is the portion of your monthly payment that is applied towards the loan principal. This portion will keep increasing each month as the loan matures. The rest of your monthly payment is applied towards interest.
  • Ending Balance: The ending balance of any given period corresponds to the principal amount that is owed to the Bank at the end of that period.
  • You can switch to Annual view of your Home loan amortization.