Plan your dream home purchase with our easy-to-use EMI calculator. Get instant estimates and compare bank rates.
Plan your home loan payments
Your Monthly EMI
₹34,713
Total Interest
₹43.31 Lac
Total Payment
₹83.31 Lac
Principal %
48%
Interest %
52%
Disclaimer: This calculator provides an estimate based on the inputs provided. Actual EMI may vary based on bank policies, processing fees, and other charges. Please consult with your bank for exact figures.
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EMI (Equated Monthly Installment) is the fixed amount you pay every month towards your home loan. It includes both principal repayment and interest charges.
EMI is calculated using the formula: EMI = P × r × (1 + r)^n / ((1 + r)^n - 1), where P is the principal amount, r is the monthly interest rate, and n is the loan tenure in months.
Your EMI depends on three main factors: loan amount, interest rate, and loan tenure. A higher loan amount or interest rate increases EMI, while a longer tenure reduces it.
Yes, most banks allow prepayment of home loans. According to RBI guidelines, there are no prepayment charges on floating rate home loans. However, some banks may charge for fixed-rate loans.
Most banks offer home loans with tenure up to 30 years. However, the maximum tenure may vary based on your age at the time of loan maturity (usually 60-70 years).
Typically, banks finance 75-90% of the property value. You need to arrange 10-25% as down payment from your own sources.
