Estimate your monthly home loan EMI, total interest payable and repayment amount instantly. Adjust the loan amount, interest rate and tenure to compare different scenarios.
| Year | Opening Balance | Principal Paid | Interest Paid | Total Payment | Closing Balance |
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EMI stands for Equated Monthly Instalment. It is the fixed amount you generally pay every month to repay a home loan over the selected tenure. Each EMI contains both principal repayment and interest.
Here, P is the principal loan amount, R is the monthly interest rate and N is the total number of monthly instalments.
Enter your expected loan amount, annual interest rate and repayment tenure. The calculator updates instantly and shows the estimated monthly EMI, total interest, total repayment and year-wise loan balance.
A longer tenure generally reduces the monthly EMI but can increase the total interest paid over the life of the loan. A shorter tenure can increase the monthly EMI while reducing the overall interest cost.
Yes. You can use the calculator as many times as needed to compare different loan amounts, rates and tenures.
For a fixed-rate loan it generally remains constant. For floating-rate loans, the EMI or tenure may change when the lender revises the interest rate.
No. This calculator estimates principal and interest repayment only. Bank fees, insurance, taxes and other charges are not included.
The same EMI formula can be used for many reducing-balance loans, although lender-specific terms and charges may differ.