Home loan EMI calculator
An EMI is the fixed monthly payment that repays your home loan. Early payments are mostly interest; later ones are mostly principal.
Monthly EMI
- Borrowed
- Total interest
- Total you repay
Loan left at the end of each year
How the EMI is worked out
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1), where P is the loan, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly payments. Most Indian home loans have floating rates, so your EMI or tenure can change when the bank's benchmark rate moves.
Read more in how much home loan can I get.