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Home Loan EMI Calculator

Calculate your home loan EMI and plan your dream home purchase.

Monthly EMI

₹0

Total Interest

₹0

Total Payment

₹0

Interest Saved

₹0

Amortization Schedule

Year Principal Paid Interest Paid Remaining Loan

Home Loan EMI Formula

EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ - 1)

Where:

  • P = Principal loan amount
  • r = Monthly interest rate (Annual rate ÷ 12 ÷ 100)
  • n = Total number of months (Years × 12)

Important Factors

  • Loan Amount: The total amount you wish to borrow
  • Interest Rate: Annual interest rate charged by the lender
  • Loan Tenure: Duration of the loan in years
  • Prepayment: Additional monthly payment to reduce principal

Tips for Lower EMI

  • Make a larger down payment to reduce loan amount
  • Choose a longer tenure to reduce monthly EMI
  • Compare interest rates from different lenders
  • Make prepayments whenever possible
  • Maintain a good credit score for better rates

Frequently Asked Questions

How to calculate my home loan EMI?

Follow these steps to calculate your home loan EMI:

  1. Enter the loan amount, interest rate, and loan tenure in the input fields.
  2. Adjust the prepayment amount if desired.
  3. automatically you will see the monthly EMI, total interest, and total payment. Click the "Calculate EMI" button to see the results.
  4. Review the monthly EMI, total interest, and total payment.
What is the difference between EMI and monthly payments?

EMI is the amount that is paid back to the lender monthly, while monthly payments include both EMI and interest.

What is the difference between EMI and interest?

EMI is the amount that is paid back to the lender monthly, while interest is the additional amount that is added to the principal amount each month.

What is the difference between EMI and principal?

Principal is the amount that is borrowed, while EMI is the amount that is paid back to the lender monthly.