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: Sprite 4,292

Monthly amount paid to your Home Loan provider

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

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 47,87,42610 yrs
With Pre-payment Rupee 45,33,7238years 4months
YOU SAVE Sprite 0 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.

Home Loan EMI Calculator

Equated Monthly Instalments, or EMIs as they are known in their abbreviated form, are crucial components of a home loan as they comprise of your repayment of the principal amount along with a rate of interest charged on the outstanding balance of the home loan. While longer tenures mean smaller EMIs, shorter tenures translate to higher EMIs. It is essential for borrowers to gain a clear understanding of the amount they will be required to pay as EMIs in order to ensure that an informed decision has been made. However, the best way through which potential home buyers can calculate the approximate amount they will have to pay as EMIs is an EMI calculator.

EMI calculators, as the term suggests, is a tool that helps in calculating the amount of money an individual will have to repay on a monthly basis. All you have to do is find an EMI calculator online and enter details such as your home loan tenure, the loan amount, and the rate of interest, and you will receive an estimate of the EMI due each month.

A home loan EMI calculator can also be used to access amortisation tables that can help in strategizing your repayment schedule so that there are no problems later.

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 Home Loan EMI:

E = P x r x (1+r)^n/((1+r)^n – 1)

R = [Annual Interest /(12 x 100)] or [Annual Interest /12/100)]


P Principal home loan amount
R Rate of Interest provided on a monthly basis
N Home loan tenure in months
Home Loan EMI Calculator

The above formula is used to calculate the monthly installment that is to be paid for a home loan. It does not consider the processing fee that only contributes a small percentage of the loan amount. For more clarity and accuracy, it is advisable to use the automated tool available on this site.

Example Home Loan EMI Calculation:

Consider that your home loan is Rs.25 lakh at an interest rate of 8.50% per annum, for a period of 360 months.

P = ₹ 25,00,000

R = [8.50/(12*100)] or [8.50/12/100]

= 0.007083

N = 360 (30 years into months)

EMI = ₹ 25,00,000* 0.007083 * (1 + 0.007083)360 / ((1 + 0.007083)360 – 1) = 19,223. i.e.,

The monthly installment that you would have to pay is Rs.19,223 for 360 months. Hence, the total amount payable is ,Rs.19,223 * 360 = Rs.69,20,280. This includes an interest of Rs.44,20,280 that you would be paying towards the home 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

  • EMIs of home loans set to decline

    State Bank of India, one of the largest banks in India brought down their benchmark lending rate to 9.10%. This means there was a reduction of 0.15% in the benchmark lending rate. By doing it, they reduced the EMIs for all the borrowers.

    The minimum lending rate or base rate was 9.25% before. The base rate has been reduced by 0.05%. The BPLR or benchmark prime lending rate has also been reduced from 14% to 13.85%.

    10th April 2017

  • Save Rs.2,000 on every EMI towards home loans booked under the PM Awas Yojna (PMAY)

    The 'Housing for All' initiative announced by Prime Minister Narendra Modi has brought interest events in the realty sector of the Indian market. Since the announcement, people have been eager to know the benefits. The outcome of the initiative at this stage has been revealed that offers home loan interest subsidy to the middle-class taxpayers. Individuals applying for a home loan of Rs.9 lakh up to Rs.12 lakh will be eligible to apply for a home loan subsidy under the PM Awas Yojna (PMAY) scheme. An interest subsidy of 3% for loan amount up to Rs.9 lakh and 4% for a loan amount of Rs. 12 lakh or higher will be applicable for borrowers buying their first house. This subsidy can turn out to be a saving of Rs2,000 on EMIs every month towards the repayment of the loan.

    31st March 2017

  • Pay Off Your Home Loan EMI’s From EPF Account Soon?

    The government is planning an amendment to the Employees’ Provident Fund which will enable EPFO members to withdraw up to 90% of their funds towards down payments for homes.

    With over 4 crore Indians members of the EPFO at present, the amendment would benefit a large number of prospective home owners.

    The amendment will also allow subscribers to make EMI (Equated Monthly Instalments) towards their home loans from their EPF balance.

    To avail this scheme, however, the EPFO subscribers would need to form a co-operative society with a minimum of 10 members.

    The Union Law Minister informed Parliament of the decision and further stated that the EPFO member would be able to utilise their EPF balance to fund the purchase or construction of a dwelling house or towards the acquisition of a site.

    He further stated that withdrawal towards home loans would be enabled only for EPFO members who fulfil certain criteria, which would be made public shortly.

    21st March 2017

  • India Home Loan’s Credit Ratings Upgraded by Credit Analysis and Research Limited (CARE)

    n a recent announcement, India Home Loan revealed that its credit ratings were upgraded by Credit Analysis and Research Limited (CARE). Long-term bank facilities saw their credit rating improve from Care BB+ to Care BBB-. The upgrade was considered by CARE following the recent progress made by India Home Loan with regards to its financial and operational performance. As a result, India Home Loan has moved up by almost 1% on the National Stock Exchange, and in just one year, 157% returns have been achieved by stocks.

    13th March 2017

  • SBI may see lower EMIs for new home loan borrowers

    From 1st April, banks began pricing their lending rates based on MCLR. Since RBI holds the interest rates by maintaining the repo rate at 6.25%, banks may see lower EMIs for borrowers. In a temporary measure, RBI had raised the CRR for banks to 100% of their deposits to absorb excess liquidity post demonetisation. Rajnish Kumar, MD of SBI, has said that with the withdrawal of incremental CRR requirement from 10th December, banks can bring down MCLR.

    SBI loan borrowers are locked into the MCLR for a year. Borrowers can switch their loans to lenders to avail lower EMIs. Soumya Kanti Ghosh, Chief Economic Adviser at SBI, has said that even if withdrawal restrictions are lifted, banking sector could see a gain of Rs.1.5 lakh crores through new deposits. In November, SBI cut its home loan rate for new borrowers to a 6-month low to 9.15%.

    22nd December 2016

  • RBI holds policy rates but excess liquidity in banking system may help home loan borrowers

    Although RBI hasn’t reduced policy rates (6.25%), excess liquidity in the banking system may help new home loan borrowers (who take loans post demonetisation) with lower EMIs. After demonetisation, banks have been flooded with deposits of nearly Rs.5.12 lakh crores, while the withdrawals have been Rs.1.3 lakh crores only. There has been a delay in rate cut because the return on the savings account will remain an outflow for banks, impacting their cost of funds. Another reason RBI holds rates may be because the US Fed rate is expected to be hiked, triggering dollar outflows, and resulting in the weakening of the rupee.

    All home loans taken after 1st April, are now linked to the bank's MCLR. Lower MCLR rates can be expected. Currently, the 12-month MCLR for most banks is in the 9.05 to 9.45 % range. After the mark-up, the actual home loan rate is around 9.35%. Even after the expected rate cut by RBI in February 2017, borrowers can expect a waiting period of 1 year before they see an impact on their EMIs.

    19th December 2016

  • RBI relaxes loan payment norms

    Due to the demonetization of the Rs.500 and Rs.1,000 currency notes borrowers are finding it hard to repay their loans. Keeping this in mind the Reserve Bank of India (RBI), in an effort to assist borrowers, banks and financiers has given an additional 60 days to declare certain loans of up to Rs.100 lakh as bad loans. The revised norms will also be applicable to running working capital accounts with a limit of Rs.1 crore, term loans with a limit of Rs.1 crore, housing loans, agricultural loans, loans sanctioned by Non-banking Financial Companies (NBFCs), loans extended by District Central Cooperative Banks (DCCBs). The relaxed dispensation will be applicable to loans payable between November 1st and December 31stt.

    5th December 2016

  • Home Loan EMI’s to fall, Lead by Repo Rate cut by 0.25%

    Loan rates for ordinary citizens will drop which includes car and housing loans with the RBI declaring 25 basis points 6.25% repo rate cut. This means the lending companies have to revise their rates based on the new repo rates as the repo rate is directly linked to Marginal cost of funds based lending rates (MCLR) therefore making the changes clear instantly. The lending rates of the bank are also affected by the repo rate as well as the Monthly reporting for MCLR.

    19th October 2016

  • Home Loan EMI’s likely to Become Cheaper with RBI Rate Cuts

    With RBI cutting the repo rates by 25 basis points, real estate developers are ecstatic about a potential increase in demand in the real estate market. With the first round of repo cuts coming in April followed by the most recent rate cut, experts are positive that the banks will transfer the benefit to the customers. With the slash in rates, people will be keen to buy property and banks can offer home loans at cheaper EMI’s. Using the new rates offered, prospective home loan applicants can use the revised rates and calculate their EMI’s using an EMI calculator. Rajeev Talwar, the CEO of DLF Ltd feels that the time of the rate cuts couldn’t have been better and the revised rates can offer attractive home loan interest rates during the upcoming festival season.

    4th October 2016

  • Cut in Lending Rates means smaller Home Loan EMI’s

    With the RBI slashing repo rates by 50 basis points and SBI following suit with a cut in their lending rates by almost 40 basis points, the bank has seen a spur of sales. With interest on home loans down to 9.30 to 9.35% from its earlier 9.70%, many customers are rethinking their decision to acquire a home loan through other financing companies. With other banks now coming under the crosshairs, many will be looking to follow suit and cut their lending rates. While they may not match up to what SBI could offer, they still will reduce lending rates for fear of losing out on customers.

    This is welcome news for buyers and will also lead t an increase in the demand for residential housing.

    2nd October 2016

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