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Home Loan EMI Calculator

Calculate your Housing Loan Monthly EMI Instalments at Bajaj Markets

✓ Home Loan from ₹2 Lakhs To ₹15 Cr ✓ Multiple Lending Partners ✓ Interest Rates Starting @ 8.50%


A Home Loan EMI calculator online tool helps you compute the approximate amount you must keep aside on a monthly basis to pay off your Home Loan. You need to input details like the required loan amount and expected rate of interest to compute the approximate monthly payment you must make to service the loan.

Calculate Home Loan EMI

Loan Amount
  • Months
  • Years
Rate of Interest

Your monthly EMI is

at % interest rate for months

Total Amount Payable
Principal Amount
Total Interest Amount
Year Principal Interest Balance

Components of Home Loan EMI

Once you know the variables that make up your Housing Loan EMI, you will be able to swiftly calculate your monthly liability. The components of your Home Loan EMI are:

  • Home Loan Amount: Your Home Loan amount is the principal sum that you borrow from a lender. Suppose you want to buy a house worth ₹40 lakh, of which, you need to borrow ₹30 Lakhs from a bank or non-banking financial company (NBFC). This ₹30 Lakhs will make up for your principal amount.

  • Rate of Interest: The rate of interest is the sum paid to the lender for borrowing the loan amount. Your interest rate is calculated after the final Home Loan amount is cleared. Your Home Loan EMI comprises the principal sum and the interest component after dividing the total sum by the number of instalments. Ideally, Home Loan interest rates can range from 7.10%-12% per annum.

  • Loan tenure: The Home Loan repayment tenure is essentially the period in which the borrower has agreed to pay off their debt. The same is expressed in years while the total number of EMIs are calculated in months.

Home Loan EMI Calculation Formula

Now that you have ascertained your principal borrowing amount, the rate of interest, and the number of years you have to keep paying your Home Loan EMIs for, you should be able to determine your exact Housing Loan EMI amount by arranging those three elements in a formula. That can be found below:

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


  • P is the principal amount (amount borrowed as loan)

  • R is the monthly rate of interest

  • N is the loan repayment tenure (in months)

Home Loan EMI Calculation Examples

Loan Amount

Interest Rate

Repayment Period

EMI Per Month

₹10 Lakhs

6.60% p.a.

10 years


₹15 Lakhs

7.40% p.a.

15 years


₹25 Lakhs

8.20% p.a.

10 years


₹30 Lakhs

9.50% p.a.

15 years


₹40 Lakhs

10.50% p.a.

15 years


₹50 Lakhs

11.15% p.a.

10 years


₹1 Crore

12% p.a.

20 years


₹5 Crores

8.20% p.a.

30 years


Home Loan EMI Excel Formula

It is very easy to calculate Home Loan EMIs using Microsoft Excel or any spreadsheet software for that matter. To do so, you will need the same three variables that you will need in the case of the housing loan EMI calculator.

Once you have determined your principal amount, repayment tenure length and applicable interest rate, click on a cell in your spreadsheet software and enter the following function:

Monthly EMI = PMT (Monthly Interest Rate, Tenure in Months, Loan Amount)

For example, if you have taken a home loan of ₹50 Lakhs, your repayment tenure is 30 years, and the applicable interest rate to you is 7% per annum, your cell would have this:

Using the following values in the PMT formula in excel:

  • Loan Amount = Rs 50 Lakhs

  • Loan Tenure in Months = 30 years*12 = 360 months

  • Monthly Interest Rate = 7%/12 = 0.00583

= PMT (0.00583, 360, 5000000) = Rs. 33,265 per month (in EMI).

Factors affecting Home Loan EMI

Some of the most common factors that affect your Home Loan EMI are:

  • Interest Rate: To put it simply, the rate of interest that is offered by the banks will significantly impact the final EMI amount that one will need to pay. Higher interest rates would mean that the EMI amounts will be high and vice-versa.

  • Property Loan EMI tenure: Longer the loan repayment tenure, lesser will be the House Loan EMI amount.

  • Home Loan Balance Transfer facilities: These facilities are offered by banks and can be taken up by borrowers if they think the bank that is providing such a facility is offering them a low interest rate.

  • Loan Restructuring: Depending upon the borrower’s track record or their relationship with the lender, at any given point in time, the agreed-upon terms of the loan can be changed. It could either increase or decrease the House Loan EMI amount that a borrower will have to pay monthly, depending on the nature of the amendment.

Ways to Reduce Home Loan EMIs

There are a few ways in which you can reduce your Home Loan EMI liability. These include:

  • Opt for a longer repayment tenure.

  • Prepay a portion of the Housing Loan during the tenure. This prepayment would then be adjusted in your Amortisation schedule.

  • If you are getting a more attractive interest rate from a different lender, you can also choose to take advantage of the Home Loan Balance Transfer facility.

Benefits of using Home Loan EMI Calculator

A Housing Loan EMI calculator is useful to borrowers/homeowners for various reasons:

  • Calculate home loan EMIs easily: As mentioned before, it is a very simple tool to use. Just add your principal amount, applicable interest rate and repayment tenure to arrive at your housing loan EMI monthly figure.

  • Compare loan offers: Different lenders provide home loans offers at different interest rates and maximum available repayment tenures. You can compare the offers of all of these lenders by simply changing the values in the tool as per the details. This will help you determine which home loan option will suit your pocket best.

  • Verify the repayment schedule given by the lender: When a lender is about to grant you your home loan, its representative will show you a repayment schedule. This will show you your EMI figure too. You can verify that by simply adding the relevant loan details into the Home Loan Calculator.

  • Helps with loan management: Once you have determined your monthly House Loan EMI outflow, you will be able to determine if it fits your pocket or not. If not, maybe you could look into some other Home Loan options, get their details and feed them into the tool to see if that one works for you.

Home Loan EMI FAQs


What is Home Loan EMI?

Equated Monthly Instalment, or EMI, is the amount you must pay towards the repayment of your House Loan on a monthly basis. Housing Loan EMI is a uniform sum that you must pay up until the end of your Home Loan tenure, assuming the interest rate and repayment period remain unchanged. Some of the factors that affect Home Loan EMI amounts are the likes of your interest rates, loan amount, and repayment tenure.

How much monthly instalments do I have to pay if I take a home loan of Rs. 35 Lakhs from Bajaj Markets?

Mr. Raheja took ₹35,00,000 as a home loan from a bank. The interest rate applicable to him is 6.60% and the loan repayment tenure is 30 years.

So, the variables, in this case, would be:


  • Principal amount (P): 35,00,000

  • Interest rate (I): 6.60%

  • Loan repayment tenure: 30 years

After you applying the EMI formula to calculate your home loan EMI the amount you need to pay is:


  • Monthly EMI Instalment: ₹22,353

  • Yearly EMI Instalment: ₹22,353 x 12 = ₹268,236


When do my Housing Loan EMIs Start?

You will ideally have to pay your first Home Loan EMI in the subsequent month of successful home loan disbursal. However, if you choose to go for the pre-EMI option, a different Home Loan Amortisation schedule will be shared with you.

What is a Home Loan Pre-EMI?

You can choose to settle the interest portion of your Housing Loan ahead of the commencement of your EMI payments via Home Loan Pre-EMI payments. When you pay the Pre-EMI instalments, you essentially only cover your interest payments, which is why the Pre-EMI instalment amounts are typically lower than what you would eventually pay as regular Home Loan EMIs. Ideally, homeowners prefer to make pre-EMI payments so that they don’t feel the burden of Home Loan EMI payments at a time when the construction of the property is underway. The same is adjusted later on.

How does a Home Loan EMI calculator help in planning the home purchase?

Calculating and knowing your Home Loan EMI will help you plan your expenses. After you have figured out how much you need to set aside for your Home Loan EMIs, it becomes easy for you to decide whether or not you’re ready to take a Home Loan and/or adjust the same in your annual budget.

How does Home Loan EMI payment reduce your tax obligation?

Depending on the kind of Housing Loan that you have been granted, you can avail tax benefits of up to ₹5 Lakhs annually. A future home owner, depending on the case, can avail tax benefits under Sections 24, 80C, 80EE, and 80EEA of the Income Tax Ac, 1961.

What are fixed and flexible Housing Loan EMIs?

You pay a fixed Home Loan EMI when the interest rate remains constant throughout the Home Loan repayment tenure. A flexible Home Loan EMI, on the other hand, is affected by external market forces, which could cause either a fall or rise in the interest rate, consequently resulting in a drop or climb in your Home Loan EMI amount, respectively.

How are the borrowed amount and interest dues paid through EMI?

It depends on a case-to-case basis as the various ancillary services that are provided with a Home Loan can affect the manner in which you pay off your dues. Normally, you will be given a loan Amortisation schedule that will give you the exact break-up of how the lender will collect the principal amount as well as the due interest from you.

How do part-payments on a Home Loan impact your EMIs?

Paying off a sizable portion of your borrowed sum can drastically reduce your future EMI payments. After the payment is made, the lender will adjust it in your EMI payments, causing you to pay lesser Home Loan EMIs.

What is a Home Loan Amortisation Schedule?

The Amortisation schedule gives you a break-up of each EMI payment over time. Traditionally, you pay off a major chunk of the interest amount during the first half of the home loan tenure and then gradually start clearing off the principal amount until the loan is squared off.