We're constantly crafting offers and deals for you. Get them delivered straight to your device through website notifications.

All You Have To Do Is Click On "Allow".

Home Loan EMI Calculator

Tools and Calculator

  • EMI Calculator
Loan Amount
2,00,000 10,00,000 25,00,000
Rate of Interest
11.25% p.a. 15% p.a. 19% p.a.
Loan Duration
12 Months 60 Months 120 Months
  • EMI Amount


  • EMI Amount

    Principal + Interest

  • Interest Payable
*Final amount may vary and it will depend on the final credit approval
Name (as per PAN Card) Please enter a valid Name
Email ID Please enter a valid Email
Mobile Number OTP will be sent after you click 'Quick Apply' Please enter a valid mobile number
City of Residence Please select a city
Date of Birth (dd/mm/yyyy) Please enter a valid Date of Birth
Please select an option
Monthly Liabilities Enter 0 if no liabilities. Please enter an amount
Existing relationship with SBI
Annual trip?
Existing credit card?
PIN Code Please enter a valid PIN Code
Company Name Please enter a valid Company Name
Salary (Monthly income) Please enter an amount
Property ValuePlease enter an amount
Portfolio ValuePlease enter an amount
Please select your Occupation
Please select an Entity
Please enter the Number of Years
Turnover Please enter an amount
Profit After Tax Please enter an amount
Required Loan Amount Please enter an amount
Please select a Product
Annual Income Please enter an amount
Please select a Plan
Please select a Medical Condition
Vehicle Manufacturer Please enter a valid Manufacturer Name
Vehicle Model Please enter a valid Model Name
Vehicle Variant Please enter a valid Variant Name
Reg. No. (MH01AB1234) Please enter a valid Vehicle Number
Vehicle Registration Date Please enter a valid Date
Please select a Purpose of Visit
Please select an option
Travel To Please enter a valid Country Name
Trip Start Date Please enter a valid Date
Trip End Date Please enter a valid Date
Sum Insured Please enter an amount
Tenure (years) Please enter a Tenure
Premium to be paid Please enter an amount
Please select a Security
Please select a Time
Cost of Two Wheeler Please enter an amount
Time Since Purchase (Months) Please enter a valid duration
Current Residence Please enter an address


Please enter the 4 Digit OTP sent to your mobile Number.

The OTP has been sent to your mobile number. Please check.

Your mobile number is successfully verified.

Mobile NumberPlease click on SEND OTP to receive the new OTP

What is a Home Loan EMI Calculator?

If you have taken a home loan or consider taking one soon, you will most likely have to repay your loan via Equal Monthly Instalments or EMIs, designed to distribute the burden over a fixed tenure. A Home Loan EMI calculator is a simple and effective online tool using which you can easily and quickly find out the EMI (inclusive of loan interest) that you need to pay each month to repay the loan. 

Terms You Should Know About EMI Calculator

You can use the Home Loan EMI Calculator online by simply entering the principal amount, applicable rate of interest, and loan tenure (in months or years) and calculate your monthly EMI in seconds.

  • Principal Amount 

The principal of a loan is the amount that you have borrowed and that you need to repay.

  • Applicable Rate of Interest 

The rate at which interest will be charged on your home loan principal amount. 

  • Tenure 

Home loan tenure is the period within which a homebuyer is bound to repay the entire loan amount including the applicable interest. You must choose a home loan tenure that is comfortable for you.

  • EMIs

Home Loan EMI or Equal Monthly Instalments is the monthly repayment that you ought to pay as per amortisation schedule

How is Home Loan EMI Calculated?

A house EMI calculator is generally the easiest and quickest way to get an accurate EMI amount. However, mathematically, the formula to calculate EMI on loan is –

EMI = [P x R x (1+R)^N]/[(1+R)^N-1],

Here P stands for the Principal loan amount, R stands for the rate of interest on the loan, and n is the tenure in number of months. 

For example – For a Principal amount of Rs. 20,00,000 borrowed at an interest rate of 10% per annum for a tenure of 10 years (which is 120 months); EMI can be calculated as follows – [20,00,000x10x(1+10)120]/[(1+10)120-1], which is equal to Rs. 26,430 per month.


What are the Benefits of Using a Home Loan EMI Calculator?

The following are the many benefits of using a home loan EMI calculator - 

  • Easy to Use 

To use a home loan EMI calculator, no complex mathematical formulas need to be solved. All you need to do is enter the loan amount, interest rate, processing fee (if applicable), and tenure and the calculator will give you an accurate answer within seconds.

  • Selecting the Right Tenure 

Knowing the right EMI allows you to decide the right home loan tenure. You can choose a shorter loan period and quickly pay off your loan if you can afford to pay higher EMIs. And if not, you can extend the loan period to what you are comfortable with. 

  • Proper Loan Management

It could be possible that you may have extra funds while paying your EMIs. If you wish to see how your prepayments can impact your EMI before the loan term ends, the home loan EMI calculator can help you know the same. 

  • Comparing Loan Offers 

Using the home loan EMI calculator, you can compare between loan offerings by different lenders. The calculator will let you know the total cost of each loan and the EMI of the same. This, in turn, will help you choose the most suitable option. 


Steps to Calculate Your EMI using a Home Loan EMI Calculator

  • Step 1: Choose the loan amount by typing in the box or by using the slider.
  • Step 2: Similarly, choose the rate of interest by typing in the box or by using the slider.
  • Step 3: Now, choose the loan duration by moving the respective slider or by typing in the box. The tenure can be set both in terms of years or months by selecting the desired option
  • Step 4:  EMI amount and interest payable on the loan will be calculated instantaneously as you move the sliders


Note – Alternatively, you can even tap onto the ‘+’ or ‘-‘symbols to increase or decrease the numbers.


Home loan EMI or Equal Monthly Instalment is the fixed amount that a home loan borrower ought to pay every month in order to repay his home loan amount. The following are taken into account while calculating the EMI – Principal Loan Amount, Loan Tenure, and the Rate of Interest.

A home loan EMI calculator calculates your EMI and indicates the total amount you need to pay at the end of your home loan tenure. This amount would be a sum total of the principal amount and the interest amount.

The home loan EMI amount is calculated after taking into consideration the following –

  • Net Monthly Income 

  • Fixed Monthly Obligations

  • Applicable Rate of Interest and 

  • Loan Tenure

An individual is entitled to a deduction of Rs. 3.5 lakhs on interest paid on home loan and an additional tax benefit of Rs. 1.5 lakhs as per Section 80 C of the Income Tax Act. So, EMI payments on your home loan can be a help in reducing tax burden.

The direct impact of part-payments on EMIs will be that it will significantly reduce, mainly because the principal loan amount on which EMIs are to be paid will reduce to the extent of repayment.

Find the right loan for you



Customer Speak