Loan EMI calculator
Loan balance:
Interest rate: %
Loan term: years  or   months
Quick Loan EMI Calculator Reference
Loan balance:Amount which you intend to borrow or take the loan for. This amount is excluding the downpayment amount.
EMI:Equal Monthly Installments of the loan that you have to pay every month.
EMI Type:Depending on the financial institution/banks EMI's may be of 2 types viz.
EMI in Advance: You have to pay the EMI at the start of the loan followed by beginning of each month. Also known as Front-Loaded EMI.
EMI in Arrears: You have to pay the EMI at the end of each month. Also known as Rear-Ended EMI.
Loan Term:Period of the home loan in years
Interest Rate: Rate of Interest for the EMI home Loan.
Home Loan EMI Calculator - FAQ
  • You can see the answers for all frequently asked questions regarding home loan EMI calculator Home Loan FAQ
Calculate EMI quickly, using this tool. (Very Handy EMI Calculator)
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What is EMI?
  • The first word you will hear from the bank when you are taking a home loan or auto loan or personal loan from the bank to purchase your dream home or to purchase your dream car is EMI, which means Equated Monthly Installments.
  • EMI is the amount payable to the Bank or other lending institution every month, till the home loan /auto loan/ personal loan is paid back in full. It consists of interest on the outstanding home loan /auto loan/ personal loan amount and part of the principal to be repaid.
  • This is an easy way for individuals to repay the loan in smaller monthly payments, as the huge home loan /auto loan/ personal loan will be split into affordable equal monthly installments.
  • At the same time its an easy way for banks to hide the huge interest rate component with the help of small EMI !!!
Download Home Loan EMI Calculator
  • You can download the EMI Calculator Excel Sheet from here
What is EMI Forumula?
  • The formula for calculation of EMI given the loan, term and interest rate is:

    E= P x r x (1 + r)n / ((1+r)n -1)

    Here
    p=principal amount
    r = interesr rate per month(ex: if interest rate per annum is 10% then 10/(12*100))
    n= tenure in months / no. of instalments in the tenure,

    Alternatively, the reader can use `Calculate EMI function' in EXCEL spread sheet.
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