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Entered Car Price : ₹ 7,20,000
Your loan Amount : ₹ 0
Years
21 years
Interest
13 %
Buying a home in India is a dream for many, but with rising real estate prices, it often becomes difficult to purchase property without financial assistance. This is where home loans come in. Today, thousands of home buyers are opting for housing finance, which is why housing credit in India has been growing steadily (over 16% in FY18).
Before applying, every borrower must know their EMI (Equated Monthly Instalment) in advance to plan finances smartly. The easiest way to do this is by using a Home Loan EMI Calculator Online.
A Home Loan EMI is the fixed monthly amount that you, as a borrower, need to pay to the lender. It includes both:
At the beginning of the loan tenure, the interest component is higher, while the principal component is lower. With every EMI you pay, the interest portion reduces, and the principal portion increases.
E = [P × R × (1+R)^N] ÷ [(1+R)^N – 1]
Where:
E = EMI amount
P = Principal loan amount
R = Rate of interest (monthly)
N = Loan tenure (in months)
Example: Suppose you take a ₹1 Crore home loan for 15 years at 12% interest. Using the formula, your EMI will be ₹1,10,108 per month.
The calculator will display your exact EMI within seconds.
Q1. What is EMI in a home loan?
EMI is the fixed monthly repayment including principal & interest.
Q2. How is home loan EMI calculated?
Using the standard EMI formula or a free online calculator.
Q3. Why should I use an EMI calculator?
It saves time, avoids errors, and helps with financial planning.
Q4. How many times can I use the EMI calculator?
Unlimited times!
Q5. Is the EMI fixed throughout the tenure?
Yes, for fixed-rate loans. For floating-rate, EMI may vary with interest changes.
A Home Loan EMI Calculator is the smartest tool for anyone planning to buy a house with financing. It helps you calculate EMIs in seconds, plan your budget, and choose the right loan without errors.