EMI Calculator
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Your Monthly EMI Amount
₹77,147
Loan Summary
About Home Loan EMI Calculator
Easily plan your home loan with our Home Loan EMI Calculator. Whether you're a first-time homebuyer or refinancing your mortgage, this tool helps you estimate your monthly EMI (Equated Monthly Installment) based on the loan amount, interest rate, and loan tenure. Just enter the values, and the calculator will instantly show your monthly repayment amount, helping you make informed financial decisions and manage your budget effectively.
Our calculator provides a detailed breakdown of your payment schedule, showing the principal and interest components of each EMI, the total interest payable over the loan tenure, and the total amount payable (principal + interest). You can adjust the loan parameters to see how different loan amounts, tenures, or interest rates affect your monthly payments.
What is a Home Loan?
A home loan is a sum of money borrowed from a financial institution or bank to purchase or construct a house. The loan is repaid through Equated Monthly Installments (EMIs) over a predetermined period, which typically ranges from 5 to 30 years. The EMI consists of both the principal amount and the interest charged by the lender.
Home loans are secured loans, meaning the property being purchased serves as collateral. Interest rates can be fixed or floating, and borrowers may be eligible for tax benefits on both the principal repayment and interest payments under various sections of the Income Tax Act. The loan amount is determined based on factors like the property value, borrower's income, credit score, and existing financial obligations.
Area Converter
1 Square Meter = 10.764 Square Feet
About Square Meter
Metric unit. 1 square meter = 10.7639 square feet.