Home Loan EMI Calculator

What is a Home Loan EMI Calculator?

A Home Loan EMI Calculator is a financial tool that helps you determine the monthly EMI instalment for the loan. Home loan calculator is a useful instrument that you can use to assess how much loan you can afford to take, what will be your monthly financial commitment, and how much interest liability you will incur. Using the calculator you can compare loan terms such as interest rate and its impact on your outflow.

How to Calculate Home Loan EMI?

You can calculate home loan EMI by providing the following inputs:

• Loan Amount: Total quantum of loan

• Tenure: Number of years the loan will run

• Interest Rate: Annual rate of interest on the loan

The home loan calculator uses the following formula to compute EMI:

• E = Monthly EMI

• P = Loan Principal Amount

• R = Loan Rate of Interest (Annual)

• N = Loan Tenure (Years)

For example, if you plan to take a Rs. 30 lakh home loan for 15 years at a 10% per annum interest rate,

EMI calculation will be

E = [30,00,000 x 10 x (1+10) ^ 15] / [(1+10) ^ 15-1]

• Monthly EMI = Rs. 32,238

• Total Interest Payable = Rs. 28,02,868

• Total Principal = Rs. 30,00,000

• Total Amount Payable = Rs. 58,02,868

How to Use Rupeezy's Home Loan Calculator?

Rupeezy Home Loan interest calculator is an easy-to-use tool that will give you the precise EMI for your desired loan:

• Step 1: Enter the Loan Amount (Principal)

• Step 2: Enter the Loan Tenure (in years)

• Step 3: Enter the Annual Interest Rate (%)

• Step 4: The result will display the monthly EMI amount, the loan amount borrowed, the total interest payable and the overall amount to be repaid.