Home Loan EMI Calculator

A home loan EMI calculator is the perfect tool to help you calculate your home loan EMI with ease. Applicants can check the EMIs payable with only a few basic inputs, and the calculator tool will reflect the EMI amount. Doing these calculations beforehand will help you secure the most competitive home loan EMIs. Use the Bajaj Finserv Home Loan EMI Calculator to determine the EMIs and repayment schedule. Simply, enter your desired loan amount, interest rate and tenure, either with the help of the slider or by entering the values directly in the boxes. The home loan EMI calculator will subsequently show you your total payable interest and EMIs applicable for the loan tenure. Additionally, keep in mind to refer to the amortisation table for a repayment schedule breakdown throughout the loan tenure.


Results generated by the calculator(s) are indicative in nature. The interest rate applied on the loan will depend on the prevailing rates at the time of loan booking. The calculator(s) are not intended to provide its users/ customers with results that are either certified by Bajaj Finance Limited (“BFL”) or are an obligation, assurance, warranty, undertaking or commitment, financial and professional advice by BFL, under any circumstances. The calculator(s) are only a tool that assists the users/ customers arrive at results of various illustrative scenarios generated from data input by the user/ customer. The use of the calculator is entirely at the risk of the user/ customer, BFL is not responsible for any reason, for any errors in any outcome resulting from the use of the calculator.

Frequently asked questions

What is a home loan EMI?

The word EMI stands for ‘Equated Monthly Instalment’. It refers to the sum you have to pay every month towards the repayment of your home loan. It includes the principal amount as well as interest. The EMI varies as per the loan amount, interest rate and tenure. You can reduce your home loan EMIs by increasing your tenure. We offer a tenure of up to 30 years.

What is a home loan EMI calculator?

A home loan EMI calculator is a financial planning tool that assists you to make an informed decision by helping you to estimate EMIs payable towards your home loan, before applying.

When will my home loan EMI be due?

As the term rightly suggests, Equated Monthly Instalments (EMI) are due every month, and gradually reduce the principal borrowed throughout the selected tenure. You are obligated to pay your housing loan EMI on a fixed date every month, which is set at the time of loan disbursal. Missing an EMI payment could lead to penal charges, and will also impact your credit score.

What is a home loan Pre-EMI?

Housing loans are one of the most flexible credit options that are available to borrowers, to fund the purchase of a residential property. Often, depending on the borrower’s requirements, the lender can disburse the home loan amount in parts. Till the full loan amount isn’t disbursed to you, you are required to repay only the interest component of the principal loan amount. The amount you pay as the home loan EMI in the meanwhile is also called a home loan pre-EMI.

Borrowers only start paying full home loan EMIs, once the home loan principal amount is fully disbursed to them. Typically, a home loan tenure can stretch up to 30 years, giving borrowers the flexibility of choosing a repayment schedule as per their convenience.

What are the tax benefits of paying home loan EMIs?

A home loan is a tax-benefit credit option, which is also why many choose to buy a second property as an investment – allowing them to avail of tax benefits through their second home loans as well. There are several tax benefits and concessions attached to paying home loan EMIs, such as:

  • Section 80C: You can claim a tax rebate on the principal component of your home loan EMI, up to Rs. 1.5 lakh every year
  • Section 24(b): You can claim a tax rebate on the interest component of your home loan EMI, up to Rs. 2 lakh every year
  • Section 80EE: You can claim a tax rebate on the interest component of your home loan, after you have exhausted the claimed cap under Section 24(b), up to Rs. 50,000, only if you are a first-time home buyer
How does home loan repayment work?

Home loan repayment refers to the process of paying back your entire loan (principal plus interest) to the lender over the agreed-to timeframe. Your repayment primarily depends on the selected tenure and the timely payment of your Equated Monthly Instalments (EMI). Your EMI amount depends on the loan amount, the tenure chosen, and the home loan interest rate.

To repay your loan earlier than planned, you will need to make part prepayments or completely foreclose the loan with one lump sum payment. In case you have surplus funds and choose to become debt-free sooner, use our home loan foreclosure calculator to know the sum payable. This is important as a home loan is a sizable sum, which necessitates planning and research.

How can I reduce my home loan EMI?

There are several ways in which borrowers can reduce their home loan EMIs, with Bajaj Finserv. Eligible applicants who meet the home loan criteria can benefit from lower interest rates and longer tenure – bringing down their total cost of borrowing. Here are a few ways to help reduce home loan EMIs:

  • Scale up your down payment amount
  • Focus on boosting your credit profile and CIBIL score
  • Ensure maximum repayment capacity
  • Pay off all pending dues and obligations
  • Apply with a co-applicant to enhance your home loan application
  • Select the right property that passes the lender’s verification

You can also avail of a home loan balance transfer and transfer your pending home loan balance to Bajaj Finserv and repay the rest of your loan amount at a reduced EMI.

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