Home Loan EMI Calculator
Loan Amount
Rate of Interest (P.a)
%
Loan Tenure (Years)
Years
Monthly EMI
0
Total Interest
Total Amount
Home Loan Amortization
| Years | Opening Balance | EMI * 12 | Interest | Principal | Closing Balance |
|---|
What is a Home Loan EMI Calculator?
A home loan EMI calculator helps you calculate the amount of loan instalment or EMI (Equated Monthly Instalment) that you would have to pay towards repaying your home loan. This easy-to-use online EMI calculator also helps you plan and manage your finances better.
Navi’s home loan EMI calculator carries a user-friendly design and is extremely easy to use. All you have to do is enter the loan amount you wish to borrow, tenure, and interest rate. You shall have the EMI and total interest payable on the loan amount in a few seconds.
How to Calculate Home Loan EMI?
The home loan EMI calculator takes three aspects into consideration – the loan amount, interest rate, and tenure. The interest rate can either be fixed or floating. Though you can manually calculate the home loan EMI, it can take significant time to do so. Furthermore, calculating home loan EMI manually might not always guarantee its accuracy.
Alternatively, you can use the online calculator for home loan EMI from Navi in the following three simple steps:
Select the loan amount
Choose the amount you need with the help of slide bar
Select the loan tenure
Use the slide bar to choose the loan tenure
Select the interest rate
Use the slide bar to select the home loan interest rate
What is the home loan EMI formula?
You can use the following formula to calculate the home loan EMI:
EMI = P × r × (1 + r)n/((1 + r)n – 1) where,
P = loan amount
r = interest rate
n = tenure in number of months
The rate of interest on your home loan is calculated monthly.
For example, consider you have availed a home loan of ₹10 lakh at an annual interest rate of 7.2% for a period of 10 years. Upon using the above formula, your home loan EMI would come up to ₹11,714.
Advantages of Using Navi Home Loan EMI Calculator
User-friendly design
Our EMI calculator is easy-to-use and intuitive
Saves time
Calculate and check your loan EMI in seconds
Helps you plan better
Calculate your EMI beforehand to manage your finances in a better way
Frequently asked questions
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