Loan EMI
Home Loan EMI Calculator
Calculate EMIs for home loans with options to compare interest rates across banks.
Formula
EMI = P × [r(1+r)^n] / [(1+r)^n - 1]
Principal, Rate %, Tenure (months)
Results
Enter values above to see results
EMI = P × [r(1+r)^n] / [(1+r)^n - 1]
The home loan EMI formula uses the reducing balance method. Each EMI payment first goes towards interest, with the remainder reducing your principal. Over time, the interest portion decreases and the principal portion increases. Banks calculate this daily on your outstanding balance.
A home loan of ₹50,00,000 at 8.65% p.a. for 15 years
Input Values
Calculation
Applying the formula with the input values above:
Results
Monthly EMI
₹49,647.00
Total Payment
₹89,36,460.00
Total Interest
₹39,36,460.00
- 1Enter the home loan principal amount (typically ₹10 lakh to ₹5 crore for most buyers).
- 2Input the interest rate offered by your lender (check current rates at 8-9% p.a. for HDFC, SBI, ICICI).
- 3Select your preferred loan tenure (usually 5-30 years). Longer tenure means lower EMI but more interest.
- 4Consider making part-prepayments to reduce tenure and interest burden.
- 5Factor in additional costs like registration, stamp duty, and processing fees separately.
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