Loan Amount (₹)

₹

Rate of Interest (p.a.)

%

Loan Tenure (years)

Yrs

₹ 15,211

₹ 47,595

₹ 5,00,000

₹ 5,47,595

Without outside funding, buying a house can be a difficult endeavour given the high cost of real estate in India. More and more would-be homeowners are using this kind of credit to pay for their home purchase. That housing credit increased by more than 16% in FY18 is hardly surprising.

The main duty of a prospective borrower is to have a precise estimate of the EMI amount they would be required to pay. To get the exact amount, one might use a house loan EMI calculator.

Equated Monthly Instalment, also known as EMI, is a set sum that a borrower must repay to the lender each month until the term is complete.

For novice financiers, calculating the EMI and its components can be a laborious process. These difficult calculations can be completed quickly and easily by a house loan EMI calculator India, saving you the stress of doing it manually.

- It can be time-consuming and erroneous to manually complete such intricate home loan EMI calculations. Prospective house buyers can save significant time by using a home loan monthly EMI calculator.
- It provides a precise estimate, which is essential for budgeting. There is no chance of any errors or ambiguities.
- Each form of loan has a distinct method for calculating the EMI. For instance, the calculation of personal loan EMI and home loan EMI are different. Only home loans can be calculated using the housing loan EMI calculator.
- It costs nothing to use the online calculator indefinitely. You can compare the EMIs for different loan amounts to find the one that best fits your financial position.

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

E - EMI amount

P - Principal amount

R - Rate of interest

N - Loan tenure

Using the calculator offered on this page has a lot of benefits.

- It is simple to use. Just enter the relevant information, and the calculator will take care of the rest.
- Everyone can use it for free. Not even registration is required for the website.
- There is no restriction on how frequently you can use it. Therefore, you can easily compare the EMIs for various house loan amounts.

Rs. 41,70,657 is the loan amount you are eligible to get on a salary of Rs 50,000 per month.

Banks typically approve home loans for 20 to 30 years with monthly payments that equal 50% of the borrower's net wage. As a result, if your net monthly salary is Rs. 40,000, your monthly payback capability is Rs. 20,000 (or 50% of your income). You'll be given a loan of approximately Rs 24-26 lakh.

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

E - EMI amount

P - Principal amount

R - Rate of interest

N - Loan tenure

E - EMI amount

P - Principal amount

R - Rate of interest

N - Loan tenure

Home loan prepayment is the term for a lump sum payment made before the loan's due date. A borrower may repay a loan in full or in part over the course of at least three equivalent monthly installments (EMIs).