Home Loan EMI Calculator

Calculate equated monthly instalments on home loans with 100% accuracy. You can also learn more about Home Loans and EMI with charts, Amortization Schedule table and loads of information.

woman buying house with home loan

The principal is the amount of money that you borrow from the bank when you take a loan.

The tenure is the time period which tells you in how many years you have to repay the loan.

The interest rate is the amount the lender will charge from you and is a percentage of the principal amount.

Principal Amount


Monthly EMI


Interest Amount


Total Payable (Principal + Interest)


Break-up of Total Payment Percentage Chart

Common questions about Home Loan and Equated Monthly Instalments

What does EMI stand for?

EMI stands for Equated Monthly Instalment, sometimes also known as Easy Monthly Instalments.

What is Home Loan?

When a person borrows money from banks or other financial institutions to buy/purchase a house, it is known as a home loan.

What is EMI?

Equated Monthly Instalments, also called EMI, is an amount of fixed payment paid by the borrower to the lender on a fixed date of every month.

How to calculate Home Loan EMI with example?

Home Loan EMI = P x R x [(1 + R)N ÷ ((1 + R)N - 1)]

Where P is the principal amount, R is the monthly interest rate, and N is the number of months of the loan. The value of EMI will change every time you change any of these three variables.

For example - Let's consider the principal, interest rate, and the tenure of the loan to be Rs.12,00,000, 8.75% and 20 yrs respectively.

First we calculate the monthly interest rate, R = 8.75/12/100 = 0.0072916

Then we calculate the number of months, N = 20 x 12 = 240

Finally, put all three values in the formula as follows -

EMI = 12,00,000 x 0.0072916 x [(1 + 0.0072916)240 ÷ ((1 + 0.0072916)240 - 1)]

EMI = Rs.10,405

Are Home Loan calculators accurate?

Yes, we can ensure that the Home Loan EMI calculator is perfectly accurate and will give you 100% error-free results every time as it was developed with complete precision and tested thoroughly before reaching you.

What is Principal Amount in loan?

The principal amount is the total amount of money that you borrow from the bank or other financial institutions whenever you take a loan.

For example, if you take a loan of Rs.1 crore from the bank, then Rs.1 crore is the principal amount. If you pay off Rs.30 Lakhs, then the principal balance now consists of the remaining Rs.70 Lakhs.

What is Interest Rate in loan?

The interest rate is the amount the lender will charge from you and is a percentage of the principal amount.

What is Tenure in loan?

It is a period that starts from the date of disbursement of the loan and ends on the date of the last payment of EMI. It is mostly calculated in years.

What is disbursement of loan?

When a person gets the agreed-upon loan amount transferred into his/her bank account, it is called disbursement of the loan. The person can then use this amount to purchase the house for which the loan was taken.

Is EMI monthly or yearly?

As the name Equated Monthly Instalment suggests, EMI is paid every month on a fixed date.

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