Home Loan EMI Calculator: Plan Your Home Loan Better

Planning to buy your dream home? Start by knowing your monthly EMI.
Ujjivan Small Finance Bank's Home Loan EMI Calculator gives you an instant estimate of your monthly repayment. Enter your loan amount, preferred tenure, and interest rate. No sign-up required.
Use the calculator to compare different loan scenarios, plan your monthly budget, and make a confident, informed decision before you apply.

Loan Principal Amount

₹50K₹1Cr

Term for loan

Months

1 month240 months

Interest rate

per annum

5%30%

Disclaimer: The data generated herein is completely and solely based on the information/details provided by you and such information and the resultant data is provided only for user's convenience and information purposes. Ujjivan SFB does not guarantee accuracy, completeness or correct sequence of any the details provided therein and therefore no reliance should be placed by the user for any purpose whatsoever on the information contained / data generated herein or on its completeness / accuracy.

The use of any information set out is entirely at the User's own risk. User should exercise due care and caution (including if necessary, obtaining of advice of tax/ legal/ accounting/ financial/ other professionals) prior to taking of any decision, acting or omitting to act, on the basis of the information contained / data generated herein. Ujjivan SFB does not undertake any liability or responsibility to update any data. No claim (whether in contract, tort (including negligence) or otherwise) shall arise out of or in connection with the services against the bank. Neither Ujjivan SFB nor any of its agents or licensors or group companies shall be liable to user/ any third party, for any direct, indirect, incidental, special or consequential loss or damages (including, without limitation for loss of profit, business opportunity or loss of goodwill) whatsoever, whether in contract, tort, misrepresentation or otherwise arising from the use of these tools/ information contained / data generated herein.

Features and Benefits of our Home Loan EMI Calculator

Quick and instant results

Simple and user-friendly design

Minimal details required

Compare EMI and make informed decision

Completely online & free

How to Calculate Home Loan EMI

Your home loan EMI primarily consists of two components – the principal amount and the interest payable. Your EMI is affected (increases or decreases) based on the loan amount, tenure and interest rate.

The mathematical formula to calculate home loan EMI is - P x R x (1+R)^N / [(1+R)^N-1] where- ; P = Principal loan amount ; N = Loan tenure in months ; R = Monthly interest rate [(annual rate/12)/100].

But manual calculations can be taxing and may leave room for errors. To reduce effort and mitigate errors, use our Home Loan EMI Calculator.

How to Use our Home Loan EMI Calculator?

Calculate your home loan EMI effortlessly with our Home Loan EMI Calculator. Our EMI calculator is highly intuitive and features a user-friendly interface. All you need to do enter the loan amount, tenure and interest rate. The calculator will show the EMI payable along with a detailed break-up of your principal amount, interest amount and the total amount payable. This would help you get a clearer idea of the total cost of your loan. Here’s what you need to do to calculate your home loan EMI

Step 1: Enter the loan amount

Step 2: Select the loan tenure as per your preference

Step 3: Enter the applicable interest rate

That’s all you need to do to get an estimate of your EMI, repayment amount and the overall interest.

How to Reduce EMI on Home Loan?

Here’s how you can reduce your home loan EMI:

Choose a Longer Tenure

Although, opting for a longer tenure may reduce your monthly repayments, however, you would be paying more as interest. Selecting a longer tenure basically increases the overall cost of the loan. Use our home loan EMI calculator to compare EMIs with different tenures.

Make a Higher Down Payment

Your initial down payment impacts your home loan EMI. For example, let’s assume your house costs ₹50 lakh. If you make a down payment of ₹35 lakh and apply for a ₹15 lakh loan, the EMI would be lesser compared to a down payment of ₹20 lakh and a loan of ₹30 lakh.

FAQs

EMI stands for Equated Monthly Instalment. It is basically the amount you have to pay every month against your loan. Your loan EMI consists of two components – the principal amount and the interest. Your EMI increases or decreases based on the loan amount, tenure and the applicable interest rate.

Taking a home loan requires careful consideration. Before applying for a home loan, you need to factor in the amount you would be paying as EMI. This would help you plan your finances better. Using a home loan EMI calculator would give you a clearer picture of your EMI obligations.

An amortisation schedule outlines the repayment plan for a loan. It details each payment over the loan term, showing how much goes towards the interest and how much reduces the outstanding principal. This helps you understand the payment structure of your loan.

Your home loan EMI depends on the loan amount, tenure and interest rate. Use our home loan EMI calculator to compare EMIs by adjusting these components.

Missed EMIs can significantly hurt your credit score. And having a poor credit score may restrict your access to credit. Also, late payments may result in penalties. You can check the details of late payment penalty charges here.