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