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Make your home buying journey seamless with simple, quick, and accurate EMI calculations using the home loan EMI calculator.
Enter your home loan amount, loan tenure, and interest rate, and watch the home loan EMI calculator do its magic instantly.
Loan duration
Monthly EMI
Total Amount Payable
0*
Total Interest Payable
0*
Total Amount Payable
Total Interest Payable
Disclaimer: The aforementioned values, calculations and results are for illustrative and informational purposes only and may vary basis various parameters laid down by Tata Capital.
Planning to buy a home involves careful financial planning. A home loan is repaid through Equated Monthly Installments (EMIs), and understanding this commitment in advance can make decision-making easier.
A home loan EMI calculator helps estimate your monthly outgo even before you apply. Tata Capital’s house loan calculator is an easy-to-use tool. Simply enter the following:
Loan Amount
Loan Duration
Rate of Interest
Within seconds, it will calculate your:
Estimated monthly EMI
Total interest payable
Overall loan cost
The EMI is calculated using a standard formula by the online EMI calculator for home loan, which factors in the loan amount, interest rate, and tenure.
For instance, if you plan to take a home loan of ₹40 lakh at an interest rate of 7.5% for a tenure of 20 years, the EMI displayed by the housing loan installment calculator works out to approximately ₹35,000 per month. By changing the tenure to 25 years, the EMI reduces, but the total interest payable increases. Similarly, opting for a shorter tenure raises the EMI but lowers the overall interest cost.
Thus, an EMI calculator for home allows you to compare different scenarios, adjust repayment periods, and borrow responsibly, making financial planning more informed.
A home loan calculator helps you know the EMIs that you need to pay for your home loan within a few seconds. Several
lending institutions offer home loan EMI calculators online to make your home buying process easier. Here are a few
benefits of using a house loan EMI calculator:
Calculating home loan EMIs becomes hassle-free and error-free with a home loan EMI calculator. Here’s the step-by-step process to use Tata Capital’s home loan EMI calculator:
1. Open Tata Capital’s home loan EMI calculator.
2. Enter a loan amount between the range Rs. 5,00,000 and Rs. 5,00,00,000.
3. Add a loan duration between 1 year and 30 years.
4. Enter the rate of interest or move the slider to the correct rate. It can range between 7.50% p.a. and 12% p.a.
5. Within seconds, the EMI amount will be displayed on the right-hand side.
The formula to estimate the EMI is as follows:
EMI = [P x r x (1+r) ^n]/[(1+r) ^n-1], wherein
P = Principal amount
r = Rate of interest per month
n = Loan tenure or number of installments in months
You can also use the following mathematical formula to calculate your house loan EMI:
EMI = [P x r x (1+r) ^n]/[(1+r) ^n-1]
Wherein ‘P’ is the principal home loan amount, ‘r’ is the applicable home loan interest rate, and ‘n’ is the number of installments you need to pay or loan tenure in months.
Planning your home purchase starts with understanding how home loan is calculated so monthly obligations align with your budget. A home loan tenure calculator helps you experiment with different repayment periods. While longer tenures lower EMIs but raise total interest, and shorter tenures do the opposite.
To know how to calculate monthly EMI for home loan, use an online EMI calculator: enter the loan amount, interest rate, and tenure to see your monthly instalment instantly.
For example, a ₹40 lakh loan at around 8.75 % for 20 years results in a predictable monthly payout. Early planning with these tools ensures clearer budgeting and confident decision-making.
A house loan interest calculator gives you immediate clarity on how much interest you’ll pay over different tenures, helping you choose the right plan. With a home loan payment calculator, you can see exact monthly instalments by entering the loan amount, interest rate, and tenure.
Step 1: input your desired loan amount.
Step 2: add the rate of interest.
Step 3: select repayment tenure.
The calculator instantly shows your EMI, total interest, and overall cost. A home loan top up calculator lets existing borrowers estimate additional funds and EMIs. These tools bring ease, accuracy, and confident budgeting to homebuying.
The home loan EMI is inversely related to the home loan tenure, as per the home loan calculation formula. It means that the higher the home loan tenure, the lower will be the EMI amount, and vice versa, which can also be estimated using a home loan EMI increase calculator. Let us understand this with the help of an example - Consider three different principal amounts and three different tenures for the same interest rate of 7.5% per annum, as shown in the home loan EMI table.
The table below depicts that home loan EMI reduces as the tenure increases.
| Principal Amount | 10 years | 15 years | 20 years |
|---|---|---|---|
| Rs. 10,00,000 | Rs. 12,668 | Rs. 10,143 | Rs. 8,997 |
| Rs. 20,00,000 | Rs. 25,335 | Rs. 20,285 | Rs. 17,995 |
| Rs. 50,00,000 | Rs. 63,338 | Rs. 50,713 | Rs. 44,986 |
A home loan amortization schedule is a table containing all the details related to a home loan repayment. It begins with the details of the outstanding principal Home Loan amount, followed by the details of the scheduled payments or EMIs that the borrower will have to pay at fixed intervals.
Then, the total interest and the principal amount paid by the borrower are displayed. The last row of the amortization schedule shows the closing balance that will be carried forward to the next period.
Considering that you have taken a home loan for Rs. 50,00,000 for 20 years at a 10% interest rate, this is what your annual amortization schedule will look like:
| Year | Opening Balance | EMI*12 | Interest paid yearly | Principal paid yearly | Closing Balance |
|---|---|---|---|---|---|
| 1 | 50,00,000 | 5,79,013 | 4,96,276 | 82,737 | 49,17,263 |
| 2 | 49,17,263 | 5,79,013 | 4,87,612 | 91,401 | 48,25,863 |
| 3 | 48,25,863 | 5,79,013 | 4,78,042 | 1,00,971 | 47,24,891 |
| 4 | 47,24,891 | 5,79,013 | 4,67,469 | 1,11,544 | 46,13,347 |
| 5 | 46,13,347 | 5,79,013 | 4,55,788 | 1,23,225 | 44,90,122 |
| 6 | 44,90,122 | 5,79,013 | 4,42,885 | 1,36,128 | 43,53,994 |
| 7 | 43,53,994 | 5,79,013 | 4,28,631 | 1,50,382 | 42,03,612 |
| 8 | 42,03,612 | 5,79,013 | 4,12,884 | 1,66,129 | 40,37,483 |
| 9 | 40,37,483 | 5,79,013 | 3,95,488 | 1,83,525 | 38,53,958 |
| 10 | 38,53,958 | 5,79,013 | 3,76,270 | 2,02,742 | 36,51,216 |
| 11 | 36,51,216 | 5,79,013 | 3,55,041 | 2,23,972 | 34,27,243 |
| 12 | 34,27,243 | 5,79,013 | 3,31,588 | 2,47,425 | 31,79,818 |
| 13 | 31,79,818 | 5,79,013 | 3,05,679 | 2,73,334 | 29,06,484 |
| 14 | 29,06,484 | 5,79,013 | 2,77,058 | 3,01,955 | 26,04,529 |
| 15 | 26,04,529 | 5,79,013 | 2,45,439 | 3,33,574 | 22,70,955 |
| 16 | 22,70,955 | 5,79,013 | 2,10,509 | 3,68,504 | 19,02,451 |
| 17 | 19,02,451 | 5,79,013 | 1,71,922 | 4,07,091 | 14,95,361 |
| 18 | 14,95,361 | 5,79,013 | 1,29,215 | 4,49,718 | 10,45,642 |
| 19 | 10,45,642 | 5,79,013 | 82,203 | 4,96,810 | 5,48,832 |
| 20 | 5,48,832 | 5,79,013 | 30,181 | 5,48,832 | 0 |
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Know MoreA faster and easier way to pay off home loans is EMIs but choosing the right EMI option is vital as it will determine how fast you can repay your loan and aim at other financial goals. Though determining the right EMI amount is a subjective call and will differ for each borrower, you can always check your financial capacity by using a home loan emi calculator. Additionally, answering a couple of important questions can help you determine the right home loan EMI option for yourself. These questions are as follows -
The tenure within which you wish to pay off your home loan will play a huge role in deciding the EMI. Do you want to pay it off early or wish to extend the tenure? Here, it is important to consider the period you expect to live in the home you are about to purchase. If you wish to take a home loan for extremely long periods, say, 15 or 30 years, it is important to consider whether or not you plan on staying in the home for that long. If not, it is better to pay off your house loan EMI sooner and enjoy true homeownership. Moreover, you can enjoy lower interest cost.
Another major home loan EMI deciding factor will be your ability to repay in a month. You certainly have other fixed monthly obligations and statutory deductions to attend to. It is important to be certain that the house loan EMI will not cause great disturbances with your other monthly commitments.
Lower interest rates naturally convert to lower interest to be paid on the loan amount. Meaning, lower home loan EMIs. Different banks and financial institutions offer different interest rates. Tata Capital offers lower interest rates on Home Loan. Compare your options and opt for the interest rate where the EMI will be compatible with your ability to repay.
The interest component of your home loan EMI refers to the cost of the loan borrowed, which is calculated based on the interest rate and tenure. The principal component of the home loan EMI refers to the money you borrow from the lender. Initially, most of your EMI goes towards interest payments. Over time, the interest portion decreases, and the EMI goes towards repaying the principal amount.
EMI calculation helps in planning a home purchase by providing clarity on monthly payments in advance. It allows you to choose a suitable loan amount and tenure, ensuring your EMIs fit within your budget without impacting other expenses. This simplifies decision-making and makes home buying more manageable. Use Tata Capital’s free home loan EMI calculator to calculate your EMIs accurately.
Failing to pay the EMI for your home loan can result in a late payment fee of 1% to 2% of the due EMI amount. If you do not pay your EMI for up to 90 days, you may become a Non-Performing Asset (NPA) and receive a legal notice. In addition to this, your credit score may also be affected.
Remember to use the home loan EMI calculator online and pick an EMI amount you can comfortably pay to avoid penalties and hassles later.
Yes, you can pay your home loan EMI early. This is known as prepayment or foreclosure. However, you will have to pay the prepayment and foreclosure charges, as applicable.
You can choose any date for your home loan EMI. However, it can help to stick to a date close to when you receive your salary every month. This helps ensure that you pay your EMIs on time. For instance, if you receive your salary on the 1st, you can pick the EMI date for the 5th.
If you pay more than the fixed EMI for your home loan, the extra money will be considered a prepayment on the loan. The excess amount will be deducted from your principal amount, and your subsequent EMIs will be adjusted accordingly. You may also pay prepayment charges depending on the excess amount paid. It is advised to refer to the home loan amortization schedule or use a housing loan EMI calculator to understand your EMIs and avoid over- or underpaying.
The EMI can be altered if your credit score improves or if you prepay a part of the loan. You can also opt for a step-up/step-down EMI plan where you pay lower/higher EMIs in the initial stages of your tenure and gradually increase/decrease over time. A home loan EMI calculator can help you understand these options and their impact on your finances.
Yes, floating interest rates can impact the EMI every month. Floating interest rates can fluctuate based on market conditions. Floating interest rate home loans are linked to the Reserve Bank of India’s (RBI) repo rate hikes, which may change over time. Make sure to use a home loan EMI calculator when deciding on a fixed and floating-rate home loan to make an informed decision.
Yes, you can choose from part or full prepayment of your home loan to pay your home loan more quickly. However, you would have to pay the prepayment charges on your home loan. Make sure to use the home loan EMI calculator to understand the impact of these charges on your EMIs.
Home loans with longer terms consequently have lower EMIs as the amount gets divided into several years. If you wish to pay a lower EMI, you can choose a longer loan tenure. You can see the actual costs of your EMIs depending on your choice of home loan tenure on the home loan monthly EMI calculator.
Yes, you can make online payments for your home loan. You can link your bank account and set up automatic payments to ensure timely payment of your EMIs. You can also make payments through other payment modes, such as debit cards, Unified Payments Interface (UPI), etc.
If you are unable to pay the home loan EMI on time, you may be given a grace period, also known as the home loan moratorium period. You do not have to make any payments during this time. However, your repayment history, credit score, loan amount, tenure, and other similar factors determine whether or not you qualify for a grace period. It is advised to pick a loan amount and tenor that seamlessly fits into your budget to avoid such a situation in the future.
You may be able to change the frequency of your home loan EMIs, depending on the duration and amount of your loan. It is best to discuss this at the time of the loan application. It is also advised to use the home loan EMI calculator before selecting a payment frequency to understand its long-term impact on your finances.
To use Tata Capital’s home loan EMI calculator, follow the steps below:
Step 1: Slide the bar or enter your loan amount
Step 2: Slide the bar or enter your loan duration
Step 3: Slide the bar or enter your loan’s interest rate
Step 4: Based on the information you shared, the calculator will calculate your monthly EMI, total amount payable, and total interest payable.
The formula for calculating home loan EMI is P x r x (1+r)^n / [(1+r)^n-1]. Here,
P= Principal home loan amount
n= Loan tenure in months
r= Applicable home loan interest rate
Further, the interest rate (R) is calculated per month with the formula- Annual rate of interest/12/100.
For all applicants:
Filled application form with your photograph
Photo ID proof, such as PAN Card, Aadhaar, Passport, or Driving License
Address proof, like utility bills, Aadhaar, or Voter ID
Bank statements for the last 6–12 months
Form 16 or Income Tax Returns (ITR) for income verification
Processing fee cheque from your bank account
Additional documents depending on employment:
Salaried individuals: Recent salary slips and salary account statements
Self-employed individuals: Business profile, audited balance sheets, profit & loss statements, and ITRs
NRIs: Proof of overseas income and credit report
Other required documents:
Details of any existing loans
Property-related documents, including ownership papers and sale agreement
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