Home Loan EMI Calculator


The Home Loan EMI calculator is an online calculator that helps you calculate the EMI, monthly interest, and monthly reducing balance based on the principal amount, loan tenure and interest rate. A home loan EMI calculator is a financial planning tool that assists you in making an informed decision by helping you to estimate EMIs payable towards your home loan before applying.

What is a home loan EMI?

A home loan is an amount a person borrows from a financial company such as a housing finance company to buy a new or resale home, construct a house or renovate or extend an existing one. An Equated Monthly Instalment or EMI is the fixed sum you pay each month whilst repaying your Home Loan.

How can a home loan EMI calculator help you?

  • Such complex EMI calculations for a home loan can be time-consuming and inaccurate. A home loan monthly EMI calculator saves prospective home buyers time.
  • It provides a precise estimate, which is critical for financial planning. There is no chance of inaccuracy or ambiguity.
  • The EMI calculation procedure differs depending on the type of loan. Home loan EMI, for example, is calculated differently than personal loan EMI. The housing loan EMI calculator is only applicable to home loans.
  • The online calculator is available for free and unlimited use. You can compare the EMIs for various loan amounts to see which part best fits your financial situation.

Home loan EMI amount formula

The online home loan EMI calculator formula to get the exact EMI amount is as follows,

E = [P x R x (1+R) ^N] / [(1+R) ^N-1]

where the variables are

E:: EMI (Equated Monthly Instalment) amount

P: Principal amount

R: Rate of interest

N: Loan tenure.


A person benefits from a home loan with Rs 1 Crore for 15 tenure years at a 12% interest rate.

E = [1, 00, 00,000 x 12 x (1+12) ^ 15] / [)1+12) ^ 20-1]

Online home loan EMI calculator will instantly help you compute the exact result, which should be Rs. 1, 10,108.

Each loan EMI has two components – principal and interest components.

The interest component is high at the start of the tenure, while the principal part is relatively low. The equation changes every month as the total interest has paid faster. As a result, the interest component decreases while the central element increases with each EMI spent.

How can we use an online home loan EMI calculator?

Just enter the interest rate, loan amount and the loan tenure in years. And within seconds, you will see the estimated EMI value.

How does a home loan EMI help to purchase a home?/p>

The home loan EMI is essential when deciding on a home loan.

  • Identify the amount to borrow as per your monthly budget.
  • Plan home loan repayment to ensure timely EMI payment.
  • It can plan your prepayment.

Home loan calculator Advantages

These are the advantages of using the calculator.

  • It's easy to use. You must insert a few necessary details, and the calculator will do the rest.
  • It's free for everyone. You don't even have to register on the website.
  • No limit. We can use the number of times.


What is the benefit of a home loan calculator?

A customer can use the loan calculator to compare the loan offers from different banks. Results show the total cost of the loan along with respective EMIs. It helps narrow down the best option for the customer and choose the loan that suits their specific requirements.

What is EMI?

EMI stands for Equated Monthly Instalment. In simple terms, it is the amount a borrower needs to pay the lender every month till their tenure ends.

How does a home loan EMI calculator work?

A home loan EMI calculator can be a handy guide before applying for a home loan. The calculator helps you estimate the loan amount you are eligible for and your EMI or equated monthly instalments. A home loan EMI calculator has three variables. That is, loan amount, interest rate and tenure.