HOME LOAN EMI Calculator
Calculate Your HOME LOAN EMI

Use TimesMoney's Free Home Loan EMI Calculator helps you to estimate your monthly payments and plan your loan repayment.

₹ 1L
₹ 1 Cr
1 year
30 years
1%
20%

Investment Details

Loan Amount: ₹100000
Total Interest: ₹
Monthly EMI: ₹

TimesMoney’s Home Loan Equated Monthly Instalment (EMI) Calculator is a powerful and intuitive online tool designed to simplify your home loan planning process. This free calculator enables borrowers to estimate their monthly EMI with precision, offering valuable insights into repayment schedules and overall loan management. With its ease of use and accurate calculations, the Home Loan EMI Calculator empowers you to make well-informed financial decisions, ensuring a stress-free borrowing experience. Whether you’re planning to buy your dream home or refinance an existing loan, this tool is your perfect financial companion.

There are several Home Loan calculators available online; one must choose an accurate Home Loan calculator and learn its usage to calculate the exact Home Loan amount they are liable to pay for a loan.

Home Loan EMI Calculator

Purchasing your dream home and planning your finances effectively is crucial in today’s world. Our Home Loan Calculator helps you understand the ideal loan amount, interest rate, and monthly EMI that suits your budget. With this tool, you can make informed decisions that align with your financial goals.

How can home loan EMI calculator help you?

Home loans are a type of credit facility provided by financial institutions to individuals or businesses. The loan amount is typically based on the value of the property being purchased, and the interest rate is determined by the lender. The monthly EMI (Equated Monthly Installment) is the amount that must be paid back to the lender each month, and it is calculated based on the loan amount, interest rate, and loan tenure.

A Home Loan EMI calculator is an essential online tool that helps you estimate the monthly repayment amount for your home loan. It provides a clear breakdown of your EMI based on the loan amount, tenure, and interest rate, enabling better financial planning and decision-making.

How do Home Loan EMI calculators work?

There is a specific formula that Timesmoney uses to compute the Home Loan amount.

M = [ P × I × (1 + I)^n ] / [ (1 + I)^n - 1 ]. where

  • M is the monthly investment.
  • Principal or loan Amount
  • N is the number of months
  • I is interest rate per month(divide by 12)

This is the standardized formula used by any online Home Loan calculator.

FAQs

EMI, or Equated Monthly Installment, is the fixed monthly payment you make to repay your loan. It consists of both the principal amount and the interest, distributed evenly across the loan tenure.
A home loan amortization schedule is a detailed table that outlines each EMI's breakup into principal and interest components, helping you track your repayment progress throughout the loan tenure.
The EMI due date is usually set at the time of loan disbursement and remains consistent every month. Borrowers can often choose a convenient date based on their salary or income cycle.
Yes, the Home Loan EMI Calculator can be used as many times as needed to help you plan your finances effectively.
The calculator provides highly accurate estimates based on the inputs you provide, such as loan amount, tenure, and interest rate. However, minor variations may occur based on lender-specific charges.
Home loan EMIs offer tax benefits under Section 80C for principal repayment (up to Rs. 1.5 lakh annually) and Section 24(b) for interest payments (up to Rs. 2 lakh annually), making it a cost-effective financing option.
No, GST is not applied to home loan EMIs. However, it is applicable to other charges like processing fees, late payment fees, and prepayment penalties.
Missing an EMI payment can lead to late fees, penal interest, and a negative impact on your credit score. Consistent non-payment may result in the loan being classified as a Non-Performing Asset (NPA) and legal recovery actions by the lender.
Prepayments can reduce either your EMI amount or the loan tenure, depending on your preference. Reducing the tenure minimizes total interest costs, while reducing EMIs lowers your monthly financial burden.
Yes, an increase in interest rates can affect your EMI, but the change is typically implemented after the lender's reset period. You may opt to increase the EMI or extend the tenure to manage the impact.
Yes, some lenders allow you to adjust your EMI amount by prepaying a portion of the loan or restructuring the loan terms. This can help you manage your finances more effectively.
Pre-EMI is the interest-only payment made during the construction phase of a property. Regular EMIs, which include both principal and interest, begin after full loan disbursement or possession of the property.
Yes, the Home Loan EMI Calculator can be used for both floating and fixed interest rate loans. For floating rates, EMIs may vary over time based on market fluctuations.
The maximum tenure for home loans typically ranges from 20 to 30 years, depending on the lender's policies and the borrower's eligibility.