Home Loan EMI Calculator - Calculate Home Loan EMI in India

Calculate your Home Loan Monthly Installment easily with the online Home Loan EMI Calculator in India


EMI Rs. 1658
Total Interest Rs. 10658
Total Payment(Principal + Interest) Rs. 10658
Principal Amount 40%
Interest Amount 60%

The Home Loan EMI Calculator makes it super simple to break down the costs for you. It helps to figure out the best tenure period. Eventually, you can use it to do financial planning and maintain a good credit score.


Home Loan Introduction EMI

A home loan EMI calculator online is simply the monthly payment to the creditor that you make for the repayment of a loan. You must continue doing so until the entire principal and interest amount is paid.


What does a home loan EMI calculator do?

The home loan EMI calculator is a simulation of your overall EMI calculation over a certain time period. It serves as a financial planning tool for home buyers.

If you want to know what tenure you should keep or what EMI you will be charged each month, an EMI calculator home loan can let you know easily.


Advantages of Using a Home Loan EMI Calculator

Calculation Becomes Easy

The Home Loan EMI Calculator makes the calculation easier for you. There will be no more burden or chaos of using a pen and paper to play with the difficult formula and large numbers. Instead, leave it on the EMI calculator to get the results within seconds.

Fund Management

For proper fund management, people invest plenty of time in financial planning. A home loan EMI calculator will help you save time. If you have some extra funds and want to get a better credit score, then you can make the repayment earlier than the tenure ends.


Become a smart decision-maker by comparing the loan offers from various lenders. You can use an EMI home loan calculator tool to do so.

Error-Free Result

It’s common for humans to make mistakes. So, when it comes to calculation, it’s impossible to get accurate results all the time. There are some chances of human error. With a home EMI calculator online, you can get error-free results instantly.


Factors that Influence Your Home Loan EMI


The location of our property determines its resale value. For instance, if your property lacks access to basic transportation and amenities, the lender may charge high-interest rates as your property’s resale value will be low.


Your credit score assists in measuring the risk that a bank has to bear by providing you with a loan. With a poor credit score, you will be charged a higher interest rate as there is a concern associated with your repayment potential.

Interest rate

You have the option of choosing between a floating and a fixed interest rate. In general, the rate of interest keeps changing every quarter in a floating interest rate, whereas it remains unchanged in a fixed one. So, when you are sure of repaying according to the time period, a fixed interest rate is best.


Whether your income is stable or fluctuating is another determinant behind your home loan EMI. Be prepared to deal with a high-interest rate if you have selected fixed-interest rate repayment.

Change of lender

Changing your lender can make a drastic change to your home loan EMI. The outstanding balance of the loan will be shifted to the new lender while you can enjoy the low-interest rate.


How does the Home Loan EMI Calculator Works?

The home loan EMI calculator is pretty simple to use. You simply have to enter the loan amount that you want to take, the desired tenure, and the interest rate.



1) What exactly is an EMI?

It’s an acronym for "equated monthly instalment." It refers to the fixed amount of payment made by the borrower to the creditor every month on a pre-decided day. The application of EMI is during the loan repayment, including principal as well as interest.


2) When does the home loan EMI start?

It begins just after the property has been constructed and possession is provided to the owner. In the case of pre-approved loans, the home loan EMI starts with the construction process.


3) What benefits do home loan EMI calculators offer?

The online EMI calculator will help you to decide and plan the loan repayments and the amount you can afford to borrow.


4) What does pre-EMI interest on a home loan symbolise?

Pre-EMI is the payment of interest on the offered loan amount. It’s paid during the period of the home's being constructed and ends with the completion of construction.


5) Can I change the home loan's EMI date? If so, then how?

Changing the EMI date with your lender is a difficult process because every lender has some strict policies related to it. Still, if you want to do that, then create a new payment mandate.


6) What is the procedure for repaying a home loan?

Home loan repayment is processed in the form of monthly EMIs that are further composed of principal amount and interest. They are divided on a monthly basis for the selected loan tenure.


7) How should a home loan be repaid quickly?

You can repay your home loan quickly by the following means:

  • More than 20% down payment and a high monthly instalment
  • Make a prepayment on your home loan tenure.
  • Choose a low tenure period.
  • Make a bigger EMI payment in a month if possible.


8) What is the maximum home loan amount that one can get?

For a salaried person, the maximum allowance for the home loan is 60 times the overall monthly income. And from the loan to value ratio, you can only get 80-85% of the total cost of your home.


9) What types of home loans are available in India?

Home loans are classified into several types, including the purchase of land, construction of a house, home expansion, home conversion, bridge loans, and so on.


10) Why should one use an EMI calculator?

There are multiple reasons behind using an EMI calculator. But the first and foremost one is helping you plan monthly expenses accordingly and save yourself from debt.


11) Is the EMI amount always fixed?

Actually, there are two kinds of interest rates on home loans: floating and fixed. A floating interest rate comes with a quarterly change in the interest rate.


12) How do I find out if I am eligible for a home loan?

You will be eligible for a home loan only after considering your monthly income, current age, retirement age, etc. Read your lender's agreement to find out more about home loan eligibility.


13) How to ease my home loan burden with home loan EMI?

By following certain tips, you can lower your home loan burden:

  • Choose a lender offering a low-interest rate or one that can extend your repayment period.
  • Do the initial payment of large amounts.
  • Keep the tenure period longer as it will reduce the payable EMI amount every month.
  • Spend time on smart financial planning.
  • Compare the rates online.
  • Shift to a loan having a lower interest rate.
  • Try to negotiate the service terms with your lender.
  • Pay your mortgage on time.


14) What is the right process for calculating the loan amount?

There are two ways to calculate the loan amount – using a housing loan EMI calculator or the basic formula. Using basic formulas will be a lengthy and time-consuming process. So, it’s better to use a loan EMI calculator and ease your job.


15) What does "pre-approved home loan" mean?

Pre-approved home loans are sanctioned to prospective home buyers even before the finalisation of the property. It is only given to those who have a clear credit history.


16) Is it possible to obtain a tax benefit?

Many financial products are eligible for a tax deduction. Home loans are also one of those that come under Section 80C of the Income Tax Act of 1961.

The government has launched several schemes, such as the Pradhan Mantri Jan Dhan Yojana, to encourage homeownership by making it more accessible and affordable.