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Calculate Home Loan EMI


Bajaj Finserv home loan EMI calculator helps you calculate your equated monthly installment for a home loan in an easy way. EMI calculator of Bajaj Finserv allows you to make an informed decision on buying a new home.

To use this EMI calculator for a home loan just enter the values for the Amount, Tenure, and Rate of Interest and you will automatically get accurate results for total interest payable, total payment & monthly EMI on the home loan.

To know your EMI (Equated Monthly Installment) on home loan and repayment schedule, use the home loan calculator of Bajaj Finserv.

Loan AmountINR
Tenure Years
Rate of InterestPercent

Total Interest Payable


Total Payment (Principle + Interest)


Your EMI will be per month


Home Loan Amortization Schedule

  • Year
  • Principal
  • Interest
  • Total Payment
  • Balance

What is Home Loan EMI calculator?

A home loan calculator helps you know the amount of EMIs that you will need to pay towards your Home Loan and helps make an informed decision. 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 overall EMI amount, in just 3 simple steps.

What is home loan EMI?

EMI stands for Equated Monthly Instalment. EMI is the monthly repayment that a home loan borrower must make to repay the home loan within the specified loan tenure.

The following table illustrates the equated monthly instalments on several home loan amounts with different tenures. The applicable rate of interest is 6.75%* onwards.

Home Loan Amount
Home Loan Tenure
For 10 Years
For 15 Years
For 20 Years
Home Loan EMI for Rs. 20 Lakh Rs. 23,016 Rs. 17,754 Rs. 15,267
Home Loan EMI for Rs. 30 Lakh Rs. 34,524 Rs. 26,631 Rs. 22,900
Home Loan EMI for Rs. 40 Lakh Rs. 46,032 Rs. 35,507 Rs. 30,534
Home Loan EMI for Rs. 50 Lakh Rs. 57,540 Rs. 44,384 Rs. 38,167
Home Loan EMI for Rs. 60 Lakh Rs. 69,048 Rs. 53,261 Rs. 45,800
Home Loan EMI for Rs. 75 Lakh Rs. 86,310 Rs. 66,576 Rs. 57,250

How Home Loan EMI is Calculated?

An EMI Calculator for home loan uses a simple formula to calculate your home loan EMI.
The formula used to calculate home loan equated monthly instalment is E = [P x R x (1+R)^N]/[(1+R)^N-1]

Factors that Affect Home Loan EMI

  • Principal- The principal is the home loan amount that you avail from the lender. It is directly proportional to your EMIs - lower principal will lower your monthly instalments and vice versa.
  • Rate of interest- The rate of interest is the rate at which the lender offers you the loan. It is also directly proportional to the value of your home loan EMIs.
  • Tenure- The tenure is the time within which you repay your home loan. The tenure is inversely proportional to your loan EMIs - longer tenure makes the monthly instalments cheaper and vice versa.

The following table shows the EMI on home loan, total payable interest, and total payable amount for a loan of Rs. 1 lakh at an interest rate starting 6.75%* for different tenures.

Home Loan Tenure
For 5 Years
For 10 Years
For 15 Years
For 20 Years
EMI Per Lakh on Home Loan Rs. 1,971 Rs. 1,151 Rs. 888 Rs. 763
Total Payable Interest Rs. 18,241 Rs. 38,095 Rs. 59,784 Rs. 83,201
Total Payable Amount Rs. 1,18,241 Rs. 1,38,095 Rs. 1,59,784 Rs. 1,83,201

Home loan EMI for different loan amounts

Following table shows the home loan EMIs for various loan amount based on different tenures at 6.75%* onwards

Home Loan Amount
Home Loan Tenure
For 5 Years
For 10 Years
For 15 Years
Home Loan EMI on Rs. 10 Lakh Rs. 19,707 Rs. 11,508 Rs. 8,877
Home Loan EMI on Rs. 15 Lakh Rs. 29,560 Rs. 17,262 Rs. 13,315
Home Loan EMI on Rs. 25 Lakh Rs. 49,267 Rs. 28,770 Rs. 22,192
Home Loan EMI on Rs. 35 Lakh Rs. 68,974 Rs. 40,278 Rs. 31,069
Home Loan EMI on Rs. 45 Lakh Rs. 88,681 Rs. 51,786 Rs. 39,946
  • The home loan EMI that you can avail with home loan of Rs. 10 Lakh is Rs. 8,877 with 15-years tenure. The monthly instalment increases when you opt for a tenure of 5 years.
  • Home loan EMI calculated using EMI calculator for a loan of Rs. 15 Lakh is Rs. 29,560 when tenure is 5 years. Your equated monthly installment for a home loan will be reduced to Rs. 13,315, if your loan tenure is 15 years.
  • For a home loan of Rs. 25 Lakh, the Lowest EMI you can avail with 15-year tenure – Rs. 22,192. Decreasing the tenure to 5 years increases the monthly instalments to Rs. 49,267.

How to Reduce Your Home Loan EMI?

Depending on the tenor and loan amount availed, Equated monthly instalments on home loans can easily reserve a significant chunk of your monthly income, which can be a problem. Here are a few reliable and smart ways to reduce your home loan EMIs.

  • Make partial-prepayments periodically
    An effective way to reduce your home loan EMI burden is to make partial prepayments every now and then. When you prepay your home loan, you pay off the outstanding principal amount. As a result, this directly reduces the interest charged on the loan and can help reduce your monthly instalments.
  • Pay an extra EMI every year
    Every extra monthly instalment you pay reduces your total interest outgo and this results in savings down the line. Some lenders may have a minimum requirement on the prepayment amount and this may not be something you can afford. In such cases, you can opt to pay an extra instalment every year and reduce your monthly instalment amount steadily over the course of a few years.
  • Negotiate for better loan terms
    If you’ve maintained a good relationship with your lender, you may be able to negotiate for better loan terms. Whenever the loan reset comes along, try to secure a lower interest rate or restructure for a longer tenure to reduce your EMI outgo.

What are the advantages of a housing loan EMI calculator?

A home loan EMI calculator helps you to decide whether you can afford the financial commitment of a home loan in the long term. If you want, you can increase or decrease your EMI amount depending on the amount of home loan you are taking and the time period for which you'll be paying the equated monthly instalments.

What is a home loan amortization schedule?

A home loan amortization schedule is the table or record which details all the periodic payments on your home loan.

Amortization is basically the procedure of repaying a loan through regular payments over a specified period of time. An 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 in full.

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 than the principal component, for every EMI. In the later part of the home loan tenure, the principal component is higher than the interest portion. EMIs can be paid through ECS (Electronic Clearing System) which directly deducts monthly instalments from your account.

How do part-prepayments impact your EMIs?

Part-prepayment brings down the principal amount, which in turn lowers the interest amount that you have to pay, which results in lower EMI amounts overall.

How does home loan EMI payment reduce tax obligation?

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

Home Loan Calculator FAQs

What are the advantages of knowing home loan EMI in advance?

Good planning always ensures stable finances. Calculating the housing loan EMI in advance gives a better understanding of the amount of money you would have to spend every month. Hence, you can plan well and decide whether you are actually able to spare that much money or not.

How to Calculate EMI for a Housing Loan?

Calculating the EMI amount on your home loan is quite easy. Simply enter the loan amount you wish to take, the tenure (in months, and not years) and the rate of interest, in the required fields.

How to use a Home Loan Calculator?

Using the home Loan calculator is a very simple process. All you need to do is follow these steps–

  1. Go the home loan calculator
  2. Choose the loan amount, rate of interest, and tenure (in months)

That’s all! You will instantly get your home loan EMI amount along with the interest amount payable on the loan.

Congratulations! You have a home loan balance transfer offer.


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