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Home Loan EMI Calculator

Loan AmountINR
Rate of Interest Percent

Total Interest Payable


Total Payment (Principle + Interest)


Your EMI will be per month



Home Loan EMI Calculator

A home loan calculator helps you know the amount of the EMIs that you will need to pay towards your home loan and helps make an informed decision. With the Bajaj Finserv home loan EMI calculator also functions as a home loan interest calculator, as you will be able to know the interest amount due on your home loan, in addition to the EMI amount in just 3 simple steps. First, enter the loan amount that you wish to take. Then, select your preferred tenor. Finally, put in the home loan interest rate as advertised on the website. That's all.

What is Home Loan EMI?

EMI stands for Equated Monthly Instalment. Home Loan EMI is the monthly repayment that the home loan borrower should make for repaying the home loan based on the amortization schedule.

What is EMI Calculation Formula?

The formula to be used for calculating EMI is EMI = [P x R x (1+R)^N]/[(1+R)^N-1] where P represents the loan amount or principal, N is the number of monthly instalments and R is the interest rate per month, i.e. suppose the rate of interest per annum is 11% then the value of R will be 11/(12 x 100).

What is the benefit of calculating EMI?

The Housing Loan EMI Calculator works on three main criteria – The loan amount availed, tenure of the loan and home loan rate of interest being charged by the lender.

How to use Home Loan EMI Calculator?

Using the Home Loan EMI Calculator is a very simple process. It works through the following steps-

1. Click to go the EMI Calculator Page
2. Choose the Loan Amount, Rate of Interest & Tenor (in months)
3. Your EMI will appear below

What is Home Loan Amortisation Schedule

The Home Loan Amortization Schedule is the table/record which details all periodic payments on your loan and this is generated through an amortization calculator. Amortization is basically the procedure of repaying a debt from a loan through regular payments over time. The Amortization Schedule is the total tally of loan payments showing the amount of interest and principal contained in each payment until the loan is repaid till it ends.

How is the borrowed amount and interest due paid through EMIs

EMIs have both principal and interest components. In the early period of the loan, the interest portion is higher for every EMI while the principal component is higher than the interest portion in the later part of the home loan tenor. EMIs can be repaid through paying instalments through ECS (Electronic Clearing System) which directly deducts monthly instalments from your account. EMIs can also be paid by issuing post dated cheques from your salary account.

What is the impact of part payments on EMI?

Part payment brings down the principal amount which in turn lowers your EMIs and the interest that you have to pay.

How does Home Loan EMI payment reduce tax obligation?

You can claim tax deductions under Section 80C up to Rs.1.5 lakhs on the principal amount repaid through your EMIs annually. You can also get tax deductions under Section 24 up to Rs. 2 lakhs on the interest component of the loan that you repay annually through your EMIs."

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Your Guide to Getting Better Home Loan Interest Rate

Your Guide to Home Loan Sanctioning and Disbursement Process

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