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Property Loan EMI Calculator by Interest First
EMI
Interest First
Reducing Balance
Deferred Payment
Balloon Payment
Loan Amount
Loan Tenure
Year
Month
Rate of Interest
%
Interest Period
Year
Month
Copy
Share
EMI
14626
Interest
689593
Principal
1000000
Total
1689593
689 K
(6 Lac)
10
Year
1,000,000
520 K
(5 Lac)
Year
Original
Reduced
𝒊
14626
will be
EMI
for
1000000
(1 m/10 Lac)
Loan Amount
for
10
Year
Loan Tenure
at
11.00%
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
2
3
4
5
year.
𝒊
Recalculate
Share
Loan
Tenure
Interest
Original
10 year
689593
Reduced
7 year
4 months
520641
Saved
2 year
8 months
168952
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
250 K
(2 Lac)
187 K
(1 Lac)
125 K
(1 Lac)
62 K
0
-
-
-
-
-
2024
2029
2033
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Property Loan EMI by Interest First
A Property Loan EMI by Interest First requires borrowers to make payments that cover only the interest during an initial period, with the principal repayment starting later. This approach allows for lower payments at the beginning, which can ease financial pressure during the early years of the loan. Once the interest-only period ends, regular EMIs that include both principal and interest are scheduled for the remaining loan term. Once the interest-only period ends, borrowers transition to regular EMIs comprising both principal and interest components for the remaining loan tenure. Plan your property investments smartly with our Property Loan EMI Calculator by Interest First. Break down your monthly payments, interest, and principal to manage your loan and secure your dream property.
Calculate Property Loan EMI by Interest First
Enter loan details including loan amount, interest rate, tenure, choose months or years, and balloon payment amount to calculate property loan EMI by interest first.
Click Calculate to view your initial loan breakdown and understand your property loan EMI options better.
Customize payment options with three inputs.
Add number of extra EMIs per year for your property loan EMI.
Increase EMIs by a percentage.
Enter lump sum payment in a specific year.
Adjust inputs as needed and click Recalculate to update your tenure and interest dynamically for your property loan EMI.
Interest First EMI formula
To calculate Property Loan EMI, use the Interest First EMI formula for precise results. This calculation helps you understand your repayment obligations clearly.
I
O
E
M
I
=
P
×
r
12
E
M
I
=
P
×
r
(
1
+
r
)
n
(
1
+
r
)
n
−
1
EMI
= Equated Monthly Installments
P
= loan amount.
IOEMI
= Interest only period EMI.
r
= monthly interest rate.
n
= total number of monthly installments.
Eligibility Criteria for Property Loan EMI by Interest First
Property Ownership:
Applicants must legally own or co-own the property being mortgaged as collateral for the loan.
Income Stability:
Borrowers must demonstrate a stable income source, which may include salaried income, self-employment earnings, or rental income.
Creditworthiness:
A good credit history and score are crucial for loan approval, as lenders evaluate the ability to repay on time.
Loan-to-Value Ratio:
Lenders often set a maximum loan-to-value ratio, determining the percentage of the property's value that can be financed, ensuring sufficient collateral coverage. This is important for property loan EMI by interest first and property loan EMI.
Property Loan EMI Calculator by Interest First FAQ
How does Interest First EMI differ from a regular EMI?
In a regular EMI, both principal and interest are paid together from the start of the loan tenure, resulting in fixed payments that include both components. In an interest first EMI, you pay only the interest during an initial period, and principal repayment starts only after this interest-only phase ends. This structure initially reduces monthly payments but results in higher payments once the principal repayment phase begins.
What are the advantages of a Property Loan EMI by Interest First?
Property loan EMI by interest first offers reduced initial monthly payments, providing financial relief during construction or the early years of property ownership. This allows borrowers to allocate funds to other investments or financial priorities while managing lower monthly obligations.
What are the disadvantages of a Property Loan EMI by Interest First?
Property loan EMI by interest first can lead to higher overall interest costs, as the principal remains unpaid during the interest-only period. This deferred repayment may result in higher total costs over the loan term compared to loans with immediate principal repayments.
×
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
10 year
689593
1 Extra EMI/ year
9 year
▶ 1 year
619468
▶ 70125
2 Extra EMI/ year
9 year
▶ 1 year
566165
▶ 123428
3 Extra EMI/ year
8 year
▶ 2 year
524200
▶ 165393
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
10 year
689593
Increase EMI by 1%
10 year
▶ 0 year
666345
▶ 23248
Increase EMI by 3%
9 year
▶ 1 year
628595
▶ 60998
Increase EMI by 5%
9 year
▶ 1 year
598932
▶ 90661
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
10 year
689593
Pay 10% in 2nd year
9 year
▶ 1 year
564898
▶ 124695
Pay 20% in 3rd year
8 year
▶ 2 year
506777
▶ 182816
Pay 30% in 4th year
8 year
▶ 2 year
493575
▶ 196018
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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