A "low interest" loan shouldn't mean you have very little interest in paying it back!

Home Loan EMI Calculator

Recalculate your Home Loan EMI and Total Interest Due in a snap!

Your Home Loan Details

Use the slider to alter your Home Loan details.

Loan Amount
Loan Amount:
Interest Rate in %:
Processing Fee: (% of loan amount)
Would you like to make Pre-payments?
Pre-payment Frequency
Pre-payment starts in
Pre-payment amount
Loan Completion Month
Pre-payment Fee %
Pre-payment Applies to

Your Monthly Home Loan EMI: Rupee image 4,292

Monthly amount paid to your Home Loan provider

Break-up of all total amount payable
Loan Amount
25000Rupee image
Total Interest Due
756Rupee image
Processing Fee
500Rupee image
Loan Amount Via EMI
500Rupee image
Loan Amount Prepaid
500Rupee image
Total Interest
500Rupee image
Processing Fee
500Rupee image
Pre-payment Fee
500Rupee image
Total Amount Payable
26252Rupee image
Your loan details as specified by you
Loan Amount
25000Rupee image
6 Months
Interest Rate
Processing Fee
25000Rupee image

Your Amortization Details (Yearly/Monthly)

Your debt repayment schedule in regular instalments over a period of time.

Tab amortization
Principal Paid Interest Paid Outstanding Loan BalanceO/S Balance(Without Pre-payment) O/S Balance(With Pre-payment)
Year Principal Paid(A) Interest Paid(B) Total Payment (A+B) Outstanding Loan Balance Pre-payment
Pre-payment Analysis

(We've broken it down for you!)

SummaryTotal AmountTenure
Without Pre-payment Rupee image 47,87,42610 yrs
With Pre-payment Rupee image 45,33,7238years 4months
YOU SAVE rupee0 YOUR TENURE REDUCED BY 1 years 8 months
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How to use BankBazaar.com's Home Loan EMI calculator to understand your Home Loan Repayment

An Equated Monthly Installment (EMI) calculator, as the name suggests, helps you understand the regular EMIs applicable on your subscribed for loan. In the case of the Home Loan EMI Calculator on BankBazaar.com, the usually tedious and time consuming task of manually calculating the EMI applicable on your home loan is simplified and loaded with all the essential data, including amortization details and ability to alter components such as interest rate and tenure to test different permutations and combinations.

Loan Parameters Required to Use the Home Loan EMI Calculator:

When using the housing loan calculator on BankBazaar.com, the following parameters need to be kept handy. The simplicity of this online tool is directly related to the minimal inputs and ability to personally customize the results.

  1. Loan Amount: Input the subscribed for loan amount on the slider tool.
  2. Tenure: Input the loan tenure by pinning the duration on the associated slider.
  3. Interest Rate: This value must be entered in the designated field. The entered number is earmarked in terms of the percentage value and thus the user isn’t required to manually enter the ‘%’ marker.
  4. Processing Fee: This value, assigned in terms of the percentage of loan amount, is the agreed upon processing fee applicable to the loan product. If you aren’t sure about this value, kindly consult your loan related documents or consult the appropriate resource at your loan lender.
  5. Pre payments: Usually, many home loan subscribers prefer to make pre-payments on their loan. This point is given due consideration in the EMI calculator for home loans as available on BankBazaar.com. Make your choice by opting for the yes/no toggle that is provided as the final input in the tool.

The obvious perks are massive savings of time, energy and your fragile patience. Aside from these, the following advantages are in order,

  1. Speed: Massively ‘boring’ calculations are crunched in mere seconds.
  2. Simple: As uncomplicated as operating a normal calculator.
  3. Experiment: Test various interest rate and tenure combinations, find the right home loan.
  4. Free: Using this friendly tool is 100% free, now and forever.

These are busy times and anything that isn’t nailed down by a timer is too much of an indulgence or not worth the bother. The immensely friendly housing loan calculator as available on BankBazaar.com is designed and deployed to simplify a tedious task, in the shortest time possible. Managing your loan EMIs has never been easier, thanks to this user friendly and aesthetically deployed home loan repayment calculator. Plus, BankBazaar’s experienced customer support team is always at hand if you encounter a problem or need clarification for a particular query. Go ahead- crunch your numbers today!!

It is the monthly repayment amount the borrower is required to pay the lender every month as a part of the repayment arrangement over a specified term. The amortization schedule acts as the reference for details on the home loan repayment. EMI stands for Equated Monthly Installment, an amount derived from the principal amount borrowed along with the applicable interest charges at fixed or floating rate.

EMI is one of the most important components of a home loan which should be given due consideration before signing up for a home loan as it has the potential effect on your monthly budget. Since paying off a housing loan is relatively a long term commitment, understanding the EMI value and its impact on your finances is paramount. A amortization schedule is what you need, to dig into the nitty gritty of EMIs.

Formula to Calculate House Loan EMI:

For those of you wondering about the calculations in the background, the formula for calculating EMI for home loan has been given below. Not as complicated as its looks, you can use this formula to manually arrive at the EMI amount.

Formula to Calculate House Loan EMI:

E = P x r x (1+r)^n/((1+r)^n – 1)


P is the principal amount to be borrowed
r is the rate of interest, provided on a monthly basis. The interest rate is generally provided annually. To input the rate on a monthly basis, use the formula, r= (annual interest/12) x 100.

The formula above is a basic formula used to calculate the monthly installment of a home loan. It does not take into account, other components such as processing fee, a small percentage of the disbursed loan amount. For further clarity and to ensure accuracy, use the automated tool available on this site.

Example Home Loan EMI Calculation:

If your loan amount is ? 20,00,000 from the bank, at an interest rate of 9.50% per annum, for a period of 20 years (or 240 months), then monthly loan installment or EMI = ? 20,00,000* 0.007916 * (1 + 0.007916)240 / ((1 + 0.007916)240 – 1) = ? 18,643. i.e., you will have to pay ? 18,643 per month for 240 months (20 years) to repay your entire loan amount. The total amount payable will be ? 18,643 * 240 = ? 44, 74,320 which includes an interest amount of ? 2474320 towards the loan.

Complex calculations meet eye-pleasing user interface. This is the USP for the housing loan EMI calculator as offered by BankBazaar.com. As listed in a segment above, the essential inputs required are- Loan amount, Loan tenure, Applicable interest rate, Applicable processing fee and the choice between a ‘yes’ for the pre-payment option or the alternative ‘no’ for the same. All these points must be marked on the very simple ‘slider’ based interface of the home loan calculator, followed by the click on the ‘Calculate’ button. And just like that, it’s done.

The resultant page will list the EMI applicable to you, based on the specific inputs provided. Aside from this, amortization details are also offered as part of the result. Tedious calculations that would have taken a sizable chunk off your patience, has now been accomplished in mere minutes. Cheers to technology.

It is a statement like schedule which offers elaborate details based around the future payments of the loan. It provides comprehensive information such as balance before payment of the EMI, the EMI value, breakup of the EMI into principal and interest repayment until the end of the term. The amortization schedule can be obtained by using the EMI calculator available on this website.

Helps in ascertaining the EMI amount:

The primary benefit of using an Home Loan EMI calculator is that it helps in arriving at the EMI amount. By simply providing basic inputs such as loan amount, rate of interest and the loan term, you will be presented with an elaborate output which includes the EMI amount payable.

Offers breakup of various finance charges:

Using the calculator also helps in understanding various financial charges such as total interest paid & processing fee value. Since banks and financial institutes present them as a percentage of the principal amount, knowing the actual value helps immensely in deciding the terms of the loan.

Comparing Loan Offers:

You can use the home loan calculator to compare the financials involved in loan offers from various banks. Provide the required inputs on the basis of offer made from different banks, get the results, jot them down and compare. You can decide to sign up for the most feasible one which offers the lowest rates and charges.

Helps in Choosing the Terms:

Knowing the EMI value also helps in choosing the terms of the loan such as tenure of the loan. If a shorter term means a higher EMI, you can try various combinations of available tenures and work out suitable terms that match your monthly income and budget.

Helps in Loan Management:

If you’re in the middle of repaying a home loan and would like to revisit the financials with a specific motive such as paying off the loan before the term ends, using the EMI calculator helps in making decisions in this regard.

Helps in Validating Information:

If you’re negotiating a home loan deal with the bank, you can cross verify the schedule provided by the bank by using the EMI calculator to get the amortization table. If the numbers mismatch, you can contact the bank and get them clarified.

One of the more useful features of this EMI calculator for home loans is that it can be customized in line with your individual requirements and limitations, even before you have applied for the home loan. Thereby, substitute various combinations of interest rates and tenures to work out a schedule that works best for you. Again, amortization details for various combinations plus the applicable EMI in each case can help you be more prepared with regards to your specific requirements before you approach the chosen bank/financial institution for the home loan.

The following pointers are essential to understand the various factors that make up your home loan’s amortization details,

  1. Starting Balance : This is basically the principal amount that is owed to the bank.
  2. Interest Paid : The portion of your monthly EMI payments that is counted as the applicable interest for the period. As the home loan matures, this number is bound to progressively get smaller and smaller. Other than the interest component, the remainder of the EMI is counted per the repayment for the principal loan amount.
  3. Principal Paid : This is the major component of your monthly EMI (minus the interest part) that is considered as repayment for the principal loan amount. Alternative to the interest paid, this number will keep incrementing each month as the home loan matures.
  4. Ending Balance : This is the balance owed to the bank/financial institution in terms of the principal amount at the end of a specified time frame (usually a month).
  1. Must I signup on BankBazaar.com or have a home loan procured using said website in order to utilise this home loan calculator?

    No. This home loan repayment calculator is 100% free to use and no specified conditions exist to qualify for its usage. As a visitor to BankBazaar.com, you can access the page directly and compute your home loan EMIs.

  2. I am not sure I’am doing this right. I need help.

    Not a worry. If you have any queries concerning the workings of this home loan calculator in India, kindly consult our customer support team. We will be happy to help you with all your queries and concerns.

  3. I don’t know the processing fee applicable to my home loan. What must I do?

    You should be able to get this information from the loan related documents issued by your bank. Alternatively, you can search for this detail on the bank’s official website, or by personally contacting the bank’s customer support department.

  4. What are some of the tips and tricks associated with this home loan calculator?

    Immediately below the EMI calculation, you can see a pronounced ‘+’. Click on this to find additional details pertaining to your home loan EMI breakup. There are even options to share this EMI wizardry on your social media channels.

    Similarly, under the title marked ‘Your Amortization Details (Yearly/Monthly)’, the pronounced ‘+’ can be clicked to reveal a graphical representation of the amortization details associated with your home loan. This chart format is immensely user friendly and divulges a treasure trove of related information.

  5. Impressive. Can I know more about the technologies involved?

    Surely, touch bases with us and we will be happy to talk. Btw, this EMI calculator for home loans is based on a unique in-house technology that is tuned towards making the whole process of calculating your home loan EMIs, faster, hassle free and immensely user friendly.

  6. Do I need to verify the results of of my calculations with the bank for accuracy?

    Well, it makes sense to do so even though our calculator is accurate. There may be slight changes, owing to the way your bank calculates the EMI. Also, your installment may include other monetary components which you were probably not aware of, while using the tool. Therefore, make sure to cross check before making critical decisions.

  7. I used the calculator to get the EMI amount for a proposed home loan. I see that the distribution of interest charges and principal (breakup) is not even. Please advise.

    The calculation is done on the basis of reducing balance principle, which implies the interest charges are applied on the outstanding balance only. Therefore, as you pay off the loan, the balance owed reduces, affecting the interest charged.

  8. There is a question at the end of the tool which talks about pre-payments. It's a close ended question. Please provide further details.

    If you would like to make prepayments during the loan tenure, say “Yes” against this question and provide inputs in the fields that follow, to take into account, the pre-payments in the amortization schedule.

  9. I am new to this concept of EMI calculators for home loans. Please summarize the details I can obtain using this tool.

    With this tool, you can obtain information under three different components. They are EMI amount, breakup of charges & amortization tables.

  10. Is the EMI calculator available on your mobile app?

    Yes, you can use find this calculator available on our apps. Tap the left hand top navigation and choose “Finance Tools” to locate the EMI calculator. Bankbazaar mobile apps are available on both Android and iOS platforms.

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Further Reading

Top picks from our Financial Expert

News About Home Loan EMI Calculator

  • More lenders may soon offer better home loan terms

    Several lenders across the country are tying up agreements with India Mortgage Guarantee Corporation. Mortgage guarantee will allow down payments to be lowered and also extend tenure of loans so that the equated monthly installments (EMIs) is brought down.

    In the long run buying a home will be made more affordable, thereby lowering monthly installments. Amitava O Mehra, Chief Executive Officer, India Mortgage Guarantee Corporation (IMGC) said that they are between discussions with 7-8 home loan providers for the guarantee product. The end result will mean better terms for home buyers. Currently, IMGC has arrangements with ICICI Bank for new loan originations. They have also had transactions with Dewan Housing Finance Corporation, Reliance Home Finance and Home First Finance Company.

    18th May 2016

  • The new interest rate formula have made loans cheaper.

    The Reserve Bank of India’s new rules announced in December 2015 which took away banks’ freedom to revise rates at their will, mean that home loans have started to become cheaper. Banks throughout India has begun to calculate lending rates according to this new rule. Home buyers can rejoice. This means that Home Loan EMIs will decrease by more than Rs 300 for borrowers who avail a loan of Rs 50 lakh over 15 years. State Bank of India, India’s largest lender has reduced their home loan rate to 9.4% from 9.5%. This came into effect on April 1st 2016.

    26th April 2016

  • Fall in Repo Rate to Result in Reduced Home Loan EMI

    In an apparent attempt to bring down home loan rates further, the Reserve Bank of India reduced the repo rate to 6.50%, bringing it down by 25bps. This in turn has brought about a drop in the minimum daily cash reserve ratio (CRR) of the banks.

    RBI has not made any change to the CRR at 4% of NDTL (Net Demand and Time Liabilities), however the policy rate corridor has been narrowed from +/-100 bps to +/-50 bps. In order to achieve this, the MSF rate was decreased by 75 bps and reverse repo rate was increased by 25 bps. According to experts, the most positive aspect of the financial year’s policy is the boost in liquidity, owing to the central bank.

    18th April 2016

  • Thanks to RBI’s 25 bps repo rate cut, auto and home loan EMIs will reduce, making them cheaper

    Reserve Bank of India Governor Raghuram Rajan reduced repo rate by 25 basis on Tuesday in its monetary policy review. The percentage has been cut to 6.50%, the lowest it has been in over five years.

    The central bank gave a hint that there may be more rate cuts in future. The bank wants to stay accommodative in its policy stance. This will be a deciding factor of interest rate reduction.

    Raghuram Rajan said that ever since banks have been reducing their interest rate by 25-50 bps, borrowing had already become more affordable. This is even before the monetary policy review.

    7th April 2016

  • Home loan rate cuts lower the EMI burden

    A sharp reduction in the lending rates by India’s biggest public bank, SBI, has started a trend for other banks. The proposal to deliver house loans at reduced rates could be a setting stone for sheer rivalry among banks, which is sure to benefit the consumer in the end – a win-win situation. SBI has publicized its 40 bps cut the very next day after the RBI has made the policy change to 50-bps-less repo rates. An astonishing sales extravaganza followed from then on, making it quite easier to rope in more customers. This proves that SBI’s move will soon pressure other banks and financiers to declare a rate cut as well. But chances of beating SBI seems bleak. At a time when the demand for housing has dipped drastically even with reduced process, abating interest rates is one of the few steps to rescue the market. And it looks like the tactic is already working.

    14th January 2016

  • EMIs to low on home loans

    Home loans and vehicle loan debtors now have every cause to celebrate at the onset of festive time. This is because the standard EMIs for these loans are anticipated to reduce. This was expected after the RBI cut the repo rate by a whopping 50 bps. Since many marketer were betting on a 25 bps reduction, this was a huge shocker. The repo rate is now 6.75 percent from the previous 7.25 percent. The Cash Reserve Ratio (CRR), which presently touches the 4 percent mark and the reverse repo rate at 5.75 percent are still the same. Ensuing this step, retail banks will be forced bring down their own loan rates for individual, vehicle, home and commercial loans, which translates into lesser EMIs. Yet, the RBI Governor Mr. Raghuram Rajan says that not many banks have followed suit and those banks that have complied, did it only to a certain extent.

    7th October 2015

  • Home loan EMIs all set to dip as RBI announced rate cuts by 50 bps

    In a bold step that will be like a breath of fresh air to thousands of housing loan borrowers throughout the nation, the RBI has slashed its standard repo rate by 50 bps. And now the repo rate is 6.75 percent compared to the previous 7.25 percent. This is the lowest in this decade. Even the most learned financial analysts admitted this news to be a shocker.

    While the RBI’s standpoint will remain to be flexible, the emphasis of fiscal action for the near future will change to functioning with the government to make sure that hitches to banks passing on the greater part of the accumulative 125 bps cut in the rates are taken back. This was mentioned by RBI Governor, Mr. Raghuram Rajan while declaring the rate cut. This has been the most vital financial policy decision taken by him during his term.

    1st October 2015

  • Developers and Banks Offering Attractive Housing Deals to Woo Customers

    Anyone who has been seriously hunting properties and has been hoping for a drop in property prices can breathe a sigh of relief – the real estate slowdown is official and the construction companies are offering up to 20% discounts to negotiate better deals with buyers. Over the past two quarters, buyers with acute eyes have noticed the process decline by about 5% in Bangalore and over 8% in Noida, the two most preferred places to buy property currently. Property experts claim that the property market has become buyer-focused and that the price corrections has happened in sub-markets depending on supply-demand, leading to a drop in prices.

    This might also be the best time to avail a home loan. With SBI offering home loans to women at 9.7% and at 9.75% to other applicants and ICICI reducing its interest rates to 9.85% for women and 9.9% for others, customers can easily buy their dream property.

    Do not miss the opportunity to grab a property because of the lack of finance. Browse BankBazaar to find out attractive deals on home loans and also plan your future with BankBazaar’s proprietary home loan EMI calculator.

    28th September 2015

  • Home Loan EMI & Interest Rates to remain intact, RBI

    The Reserve Bank of India’s step to retain the same interest rates as the previous year has come as a blow to those mortgagors who were hoping for a fall in Home Loan EMIs. After RBI’s order in the previous financial policy, almost all Indian banks had cut down their base rates by a 1/4th percentage point. Banks and financiers are dealing with increased pressures on their non-viable products and total interest margins. Hence it would be challenging if they go for another round of slashes in rates.

    11th August 2015

  • Smaller SBI Home Loan EMIs Post 15 Points Rate Cut

    Hours after the Reserve Bank of India (RBI) announced a 25 basis points cut in the current repo rate, SBI has followed suit with its own slashing of 15 basis points from its base interest rate. RBI’s move comes in light of the lowering rate of inflation, and the need to promote growth rather than control prices, and puts the repo rate at 7.25%. The updated rate from SBI will come into effect from June 8, and will likely result in the reduction of Equated Monthly Installments (EMI) figures as concerning the SBI auto and home loan products. SBI’s domestic competitors including ICICI, HDFC and others are expected to announce their own rate cuts soon.

    9th June 2015

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