Home Loan EMI Calculator
Plan your home loan with our free EMI calculator. Enter loan amount, interest rate, and tenure to instantly see monthly payments and a complete repayment breakdown.
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How It Works
- Enter loan principal amount, annual interest rate, and tenure in years.
- View monthly EMI, total payment, and total interest instantly.
- Explore the full amortization schedule month by month.
Use Cases
- Compare home loan options from different banks
- Plan monthly budget before buying a house
- Calculate total interest over loan tenure
- Evaluate impact of prepayments on loan cost
Frequently Asked Questions
What is EMI?
EMI (Equated Monthly Installment) is a fixed monthly payment comprising principal and interest over the loan tenure.
How is home loan EMI calculated?
EMI = [P × R × (1+R)^N] / [(1+R)^N - 1], where P is principal, R is monthly interest rate, and N is number of months.
Does this calculator include taxes or insurance?
No, this calculator shows principal and interest only. Add property tax and insurance separately.
Can I export the amortization schedule?
Yes, you can download the schedule as a CSV file.