Home Loan EMI Calculator
Calculate your monthly EMI payments and plan your home purchase better
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Your EMI Summary
Monthly EMI₹0
Principal Amount₹50,00,000
Total Interest₹0
Total Payment₹0
About Home Loan EMI
An Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are used to pay off both interest and principal each month, so that over a specified number of years, the loan is paid off in full.
How EMI is Calculated
The EMI calculation uses the following formula:
EMI = [P × R × (1+R)^N] / [(1+R)^N-1]
Where:
- P = Principal loan amount
- R = Monthly interest rate (annual rate divided by 12)
- N = Loan tenure in months
Tips for Home Loan Borrowers
- Try to make a down payment of at least 20% of the property value
- Opt for shorter tenures to reduce total interest payments
- Consider prepayment options to reduce your loan burden
- Compare interest rates from multiple lenders before finalizing
- Factor in additional costs like processing fees and insurance