Home Loan EMI Calculator

Loan		1 m/10 Lac
Tenure
Interest	%

Copy

EMI

10,143

Interest

825,680

Principal

1,000,000

Total

1,825,680

825 K
(8 Lac)

15 Year

1,000,000

509 K
(5 Lac)

Year

Original

Reduced 𝒊

How to Reduce Interest/ Tenure?

Pay Extra EMI every year. 𝒊
Increase EMI by % every year. 𝒊
Pay Lump-Sum in year. 𝒊

Loan Summary
Loan start year
Tenure reduced	5 year 11 months
Interest saved	316,182

Loan Summary

Loan start year

Tenure reduced

5 year 11 months

Interest saved

316,182

Loan Payment Schedule

Original Reduced

203 K
(2 Lac)

152 K
(1 Lac)

101 K
(1 Lac)

50 K

2024

2031

2038

Balloon Payment

Home Loan EMI

A Home Loan EMI Calculator is an easy-to-use tool that helps you estimate your monthly EMI (Equated Monthly Installment) based on the loan amount, interest rate, and tenure. It also helps you learn how to reduce the tenure and interest of your loan, allowing you to manage your home loan more effectively and save on overall costs. By simply entering these details, you can quickly calculate how much you'll need to pay each month, allowing you to plan your finances better. This calculator provides instant results, making it a valuable resource for anyone looking to apply for a home loan or manage their repayments efficiently.

Calculate Home Loan EMI

To calculate Home Loan EMI enter loan details including loan amount, interest rate, tenure and choose months or years.
Click Calculate to view your initial loan breakdown.
Customize payment options with three inputs.
Select a number of extra EMIs per year.
Increase EMIs by a percentage.
Select lump sum payment in a specific year.
Adjust inputs as needed and click Recalculate to update your tenure and interest dynamically.

Eligibility Criteria for Home Loan EMI

Stable Income: Applicants should have a stable and verifiable source of income, whether through salaried employment or self-employment, to ensure the ability to repay the home loan EMI.
Creditworthiness: A good credit score is crucial to qualify for a home loan. It reflects a history of responsible credit usage and timely repayments, increasing your chances of approval.
Employment Stability: Lenders generally require applicants to have a steady employment history, demonstrating a reliable income stream to comfortably handle home loan EMIs.
Property Compliance: The property being financed must meet the lender's conditions, including clear title deeds, proper valuation, and compliance with local regulations.

Home Loan EMI Calculator FAQ

How can I reduce my Home Loan tenure or interest?

You can reduce your home loan tenure or interest by making extra EMIs, lump-sum payments, and increasing your EMI amount each year. The home loan EMI calculator can help you explore these options.

Why should I use a Home Loan EMI Calculator?

Using a home loan EMI calculator helps you plan your finances better by giving you a clear picture of your monthly payments, interest savings, and tenure reduction options before taking a loan.

Can a Home Loan EMI Calculator help me plan my loan better?

Yes, a home loan EMI calculator helps you plan your loan effectively by showing your monthly payment breakdown. It also lets you experiment with different loan amounts, tenures, and interest rates to find the most affordable EMI option and strategies to reduce your overall interest and tenure.

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	825,680
1 Extra EMI/ year	13 year ▶ 2 year	697,394 ▶ 128,286
2 Extra EMI/ year	12 year ▶ 3 year	606,884 ▶ 218,796
3 Extra EMI/ year	11 year ▶ 4 year	539,424 ▶ 286,256

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	825,680
Increase EMI by 1%	14 year ▶ 1 year	757,695 ▶ 67,985
Increase EMI by 3%	12 year ▶ 3 year	664,656 ▶ 161,024
Increase EMI by 5%	11 year ▶ 4 year	601,871 ▶ 223,809

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	825,680
Pay 10% in 2nd year	13 year ▶ 2 year	636,748 ▶ 188,932
Pay 20% in 3rd year	11 year ▶ 4 year	536,628 ▶ 289,052
Pay 30% in 4th year	10 year ▶ 5 year	492,108 ▶ 333,572

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?

3. How Paying Lumpsum Amount helps?