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Home Loan EMI Calculator by Balloon Payment
EMI
Balloon Payment
Reducing Balance
Interest First
Deferred Payment
Loan Amount
Loan Tenure
Year
Month
Rate of Interest
%
Balloon Payment
Copy
Share
EMI
9878
Interest
878112
Principal
1000000
Total
1878112
878 K
(8 Lac)
15
Year
1,000,000
527 K
(5 Lac)
Year
Original
Reduced
𝒊
9878
will be
EMI
for
1000000
(1 m/10 Lac)
Loan Amount
for
15
Year
Loan Tenure
at
9.00%
Rate of Interest
.
How to Reduce Interest/ Tenure?
Pay
0
1
2
3
4
5
Extra EMI every year.
𝒊
Increase EMI by
0
2
3
5
7
10
15
20
% every year.
𝒊
Pay Lump-Sum
0
(10 K)
(20 K)
(30 K)
(40 K)
(50 K)
(60 K)
(70 K)
(80 K)
(90 K)
(100 K)
in
0
1
2
3
4
5
6
7
year.
𝒊
Recalculate
Share
Loan
Tenure
Interest
Original
15 year
878112
Reduced
8 year
11 months
527106
Saved
6 year
1 month
351006
Loan Payment Schedule
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
Original
Reduced
Balloon Payment
261 K
(2 Lac)
195 K
(1 Lac)
130 K
(1 Lac)
65 K
0
-
-
-
-
-
2024
2031
2038
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Home Loan EMI by Balloon Payment
A Home Loan EMI by Balloon Payment is a type of loan where you pay smaller monthly EMIs during the loan term, followed by a large, one-time payment at the end, known as the balloon payment. This structure allows for lower monthly payments initially, with a significant portion of the loan being repaid at once at the end. Use our Home Loan EMI Calculator by Balloon Payment to plan your loan repayments and stay on top of your finances. Find accurate breakdowns of your payments, interest, and principal to plan your home loan better.
Calculate Home Loan EMI by Balloon Payment
Enter home loan EMI details like loan amount, interest rate, tenure, and balloon payment amount to calculate your home loan EMI by balloon payment.
Click Calculate to view your EMI breakdown based on the inputs.
Customize payment options to optimize and calculate your home loan EMI by balloon payment.
Choose extra EMIs per year to reduce your tenure and calculate your home loan EMI more efficiently.
Increase EMIs by a percentage to manage and calculate your home loan EMI better.
Select a lump sum payment to reduce your interest and calculate your home loan EMI.
Adjust inputs and click Recalculate to dynamically update your home loan EMI tenure and interest.
Balloon Payment EMI formula
To calculate Home Loan EMI, use the Balloon Payment EMI formula for precise results. This calculation helps you understand your repayment obligations clearly.
E
M
I
=
(
P
-
B
(
1
+
r
)
n
)
×
r
1
-
(
1
+
r
)
-
n
EMI
= Equated Monthly Installments
P
= loan amount.
B
= balloon payment at the end of the tenure.
r
= monthly interest rate.
n
= total number of monthly installments.
Eligibility Criteria for Home Loan EMI by Balloon Payment
Stable Income:
Applicants should have a stable and verifiable source of income, either through salaried employment or self-employment, to demonstrate their ability to repay the home loan EMI, especially if it's structured as a home loan EMI by balloon payment.
Creditworthiness:
A good credit score is essential to qualify for a home loan EMI, reflecting a history of responsible credit behavior and repayment, particularly important for home loan EMI by balloon payment options.
Employment Stability:
Lenders typically require applicants to have a consistent employment history, ensuring a reliable income stream to support regular home loan EMI repayments and any final balloon payment if applicable.
Property Compliance:
The property being financed must meet the lender's criteria, including clear title deeds, acceptable valuation, and compliance with local regulations, which is crucial for securing a home loan EMI, including a home loan EMI by balloon payment structure.
Home Loan EMI Calculator by Balloon Payment FAQ
How does a Balloon Payment EMI differ from a Regular EMI?
A balloon payment EMI involves making smaller, regular payments during the loan term, with a large lump sum payment due at the end. Regular EMI types involve equal payments of principal and interest throughout the loan term, with no large final payment required.
How does a Home Loan EMI by Balloon Payment benefit borrowers?
A home loan EMI with balloon payment offers lower monthly payments focused mainly on interest, providing better cash flow for borrowers to invest in other financial goals.The final large payment at the end of the term clears the remaining principal, making it ideal for those expecting a future lump sum or increased income.
What are the risks or drawbacks of a Home Loan EMI by Balloon Payment?
The large final payment in a home loan EMI by balloon payment can be a financial strain if the borrower can not pay the principal in full. Refinancing or restructuring might be needed, often leading to higher costs or less favorable terms.
×
How extra EMI(s) help?
At the end of the year, you can pay extra EMIs out of your savings. This extra EMI payment will go towards your Loan Amount and save you on the interest as well as tenure of the loan.
Payment
Tenure
Interest
Current
15 year
878112
1 Extra EMI/ year
13 year
▶ 2 year
735387
▶ 142725
2 Extra EMI/ year
12 year
▶ 3 year
635616
▶ 242496
3 Extra EMI/ year
10 year
▶ 5 year
562997
▶ 315115
How increasing EMI helps?
As your income increases each year, you can get your EMI increased from the bank. This allows you to allocate more funds towards paying off the loan amount and save you on the interest as well as tenure of the loan.
Payment
Tenure
Interest
Current
15 year
878112
Increase EMI by 1%
14 year
▶ 1 year
799258
▶ 78854
Increase EMI by 3%
12 year
▶ 3 year
694138
▶ 183974
Increase EMI by 5%
11 year
▶ 4 year
625262
▶ 252850
How Paying Lumpsum Amount helps?
If you receive unexpected income, such as a bonus or tax refund, consider making a lump-sum payment on your loan. This can help reduce the outstanding loan amount and save you on the interest as well as tenure of the loan.
Payment
Tenure
Interest
Current
15 year
878112
Pay 10% in 2nd year
13 year
▶ 2 year
669069
▶ 209043
Pay 20% in 3rd year
11 year
▶ 4 year
558578
▶ 319534
Pay 30% in 4th year
10 year
▶ 5 year
508035
▶ 370077
How to Reduce Interest/ Tenure?
Making early payments towards Principal amount can reduce your Interest and/ or Tenure.
1. How extra EMI(s) help?
At the end of the year, you can pay extra EMIs out of your savings. This extra EMI payment will go towards your Loan Amount and save you on the interest as well as tenure of the loan.
2. How increasing EMI helps?
As your income increases each year, you can get your EMI increased from the bank. This allows you to allocate more funds towards paying off the loan amount and save you on the interest as well as tenure of the loan.
3. How Paying Lumpsum Amount helps?
If you receive unexpected income, such as a bonus or tax refund, consider making a lump-sum payment on your loan. This can help reduce the outstanding loan amount and save you on the interest as well as tenure of the loan.
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