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Loan Amount
  • Months
  • Years
Rate of Interest

Monthly EMI

at % interest rate for months

Total Amount Payable
Principal Amount
Total Interest Amount

Home Loan Amortization Schedule

Year Principal Interest Balance

How to Calculate the EMI for a Home Loan?

Compute your EMIs easily with the home loan EMI calculator available on Bajaj Markets. To use the calculator, you must enter the following details:

  • Tenure (repayment period)

  • Interest rate

  • Loan amount (principal amount)


Feed these details into the calculator to get an estimate of your EMI amount, total interest amount, and the total repayment amount.


The results displayed are based on the values you enter in the calculator. Your EMI amount (including the actual interest amount charged) will depend on the prevailing rates. The results are neither certified nor guaranteed. The repayment schedule presented is for illustration purposes. Confirm the values with your lender prior to applying for the home loan.

FAQs and Support

Equated Monthly Instalment or EMI is the amount you pay to the lender every month to repay your home loan. The factors that affect your home loan EMI are the principal, interest rate, and repayment tenure. You can use the loan EMI calculator for home loans available on Bajaj Markets to get an estimate of your EMI. 

You will have to pay your first home loan EMI in the month subsequent to your home loan disbursal. However, if you choose the pre-EMI option, you start paying interest on the portion of the sanction amount disbursed before the official tenure begins.

Calculating your home loan EMI will help you plan your expenses. After finding out your EMI with the calculator, you can make a budget. If it does not fit your budget, try different combinations to find the terms that suit your finances the best. You can go for a lower amount or opt for a longer tenure. 

Depending on the particulars of the home loan, you can claim deductions under Sections 80C, 24B, 80EE, and 80EEA towards principal repayment, interest repayment, and stamp duty charges. 

You can use an EMI calculator for a home loan to understand your principal and interest dues and use the estimates to efficiently plan and lower your tax obligation.

Each EMI contains a portion of the borrowed amount (principal) and interest. While the EMI remains the same, the principal is low early on and goes on increasing, and the interest component is high at the start and drops as the tenure progresses. 

Paying off a sizeable portion of your borrowed sum can drastically reduce your future EMI payments. This is because your outstanding amount reduces, which results in lower EMIs. This benefit is reflected either in the form of smaller EMIs or a reduced tenure. You can use an EMI calculator for a home loan to efficiently plan your repayment. 

An amortisation schedule gives you a breakup of your EMIs over time. The EMI is constant throughout the tenure, but the principal and interest components vary. Additionally, the schedule shows the outstanding balance after every EMI.

The formula for a home loan EMI calculation is:  EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Here, ‘P’ is the principal amount, ‘R’ is the interest rate, and ‘N’ is the tenure. 


While it is easy to understand how to calculate a home loan EMI using this formula, there is a risk of manual error. You can get quicker and more accurate estimates using the housing loan EMI calculator available on Bajaj Markets.

Using an EMI calculator for a home loan benefits you in several ways. The first is that it helps you plan your loan and ensure that repayment fits into your budget. You can also compare different offers and choose one that is most affordable.

The calculator also gives you a repayment schedule (amortisation schedule), which you can use to plan prepayment, foreclosure, or balance transfer. Lastly, the calculator is available for free and without any limits on how many times you can use it.

To understand the factors that affect your home loan EMI, simply look at the details you feed into a home loan EMI calculator. These are your interest rate, loan amount, and tenure, all of which have a significant influence on your EMIs.


However, there are some other factors that affect your home loan EMI, too. These factors are the type of interest rate you choose, your CIBIL score, repayment capacity, and more.

Yes, you can use the house loan EMI calculator to see how your monthly repayment amount changes with different loan amounts and tenures.

Yes, in both fixed and floating rates the EMI amount is usually kept the same all through the tenure. The lender tweaks the repayment term to ensure this in floating interest rate home loans. 

If you miss or default on your EMI payment, the lender will levy a penalty, which will increase your borrowing costs. Moreover, this affects your credit score negatively, which will affect your eligibility for future credit.


One of the best ways to ensure you do not default on repayment is to calculate home loan EMI online with an EMI calculator. You can check different terms and choose one wherein the EMI is most comfortable for you.

When you calculate housing loan EMI online with the EMI calculator available on Bajaj Markets, you do not have to enter any sensitive or personal information. As such, your data is secure.

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