Visual EMI Calculator
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Home Loan EMI Calculator
EMI
Reducing Balance
Interest First
Deferred Payment
Balloon Payment
Loan Amount
Loan Tenure
Year
Month
Rate of Interest
%
Copy
Share
EMI
10143
Interest
825680
Principal
1000000
Total
1825680
825 K
(8 Lac)
15
Year
1,000,000
509 K
(5 Lac)
Year
Original
Reduced
𝒊
10143
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
825680
Reduced
9 year
1 month
509498
Saved
5 year
11 months
316182
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
203 K
(2 Lac)
152 K
(1 Lac)
101 K
(1 Lac)
50 K
0
-
-
-
-
-
2024
2031
2038
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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
825680
1 Extra EMI/ year
13 year
▶ 2 year
697394
▶ 128286
2 Extra EMI/ year
12 year
▶ 3 year
606884
▶ 218796
3 Extra EMI/ year
11 year
▶ 4 year
539424
▶ 286256
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
825680
Increase EMI by 1%
14 year
▶ 1 year
757695
▶ 67985
Increase EMI by 3%
12 year
▶ 3 year
664656
▶ 161024
Increase EMI by 5%
11 year
▶ 4 year
601871
▶ 223809
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
825680
Pay 10% in 2nd year
13 year
▶ 2 year
636748
▶ 188932
Pay 20% in 3rd year
11 year
▶ 4 year
536628
▶ 289052
Pay 30% in 4th year
10 year
▶ 5 year
492108
▶ 333572
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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