Bajaj Finserv Home Loan
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Calculate EMI on Home Loan


Using a home loan emi calculator is one of the easiest ways to calculate the EMI on your home loan. Bajaj Finserv’s EMI Calculator for a home loan helps you in making an informed decision about buying a dream home.

The Equated Monthly Instalment (EMI) on a home loan depends on desired loan amount, tenure & the interest rate. With a home loan calculator, you can check EMI in an easy, quick, and accurate way.

Know how much will EMI be on your home loan by using Bajaj Finserv home loan calculator below:

Loan AmountINR
Tenor (Years) Years
Interest Rate (p.a)Percent

Total Interest Payable


Total Payable (Principal + Interest)


Monthly Home Loan EMI


What Is A Home Loan EMI Calculator?

A home loan calculator helps you know the EMI amount that you will need to pay towards your Home Loan, helping you make an informed decision. The Bajaj Finserv home loan EMI calculator also functions as a home loan interest calculator, as it provides you the interest amount due on your home loan in addition to the overall EMI amount in just 3 simple steps.

What Is A Home Loan EMI?

EMI, or Equated Monthly Instalment, is the monthly repayment that a home loan borrower must make to repay the home loan within the specified loan tenor.

The table below illustrates the equated monthly instalments on several home loan amounts with different tenors considering the applicable rate of interest as 6.70%* onwards.

Home Loan Amount
Home Loan Tenor
For 10 Years
For 15 Years
Rs. 20 Lakh Rs. 22,914 Rs. 17,643
Rs. 30 Lakh Rs. 34,370 Rs. 26,464
Rs. 40 Lakh Rs. 45,827 Rs. 35,286
Rs. 50 Lakh Rs. 57,284 Rs. 44,107
Rs. 60 Lakh Rs. 68,741 Rs. 52,928

Benefits of EMI calculation on Home Loan?

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 loans you are taking and the time period for which you'll be paying the equated monthly instalments.

How To Calculate EMI on Home Loan?

Calculating the EMI on your home loan is quite easy by using a home loan calculator. Simply enter the loan amount you wish to take, the tenor, and the rate of interest in the respective fields.

The mathematical formula for calculating EMIs is = [P x R x (1+R)^N]/[(1+R)^N-1]

  • P’ represents the loan amount or principal
  • N’ is the number of monthly instalments
  • R’ is the interest rate per month. Therefore, if the rate of interest per annum is 11%, then the value of ‘R’ will be 11/(12 x 100)

How To Use Home Loan EMI Calculator?

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

  • Go the Housing Loan EMI Calculator
  • Choose the loan amount, rate of interest, and tenor (in months)

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

Factors That Affect Your Home Loan EMI

  1. Principal- The principal refers to the amount that you borrow from the lender. It is directly proportional to your EMIs, i.e., the lower the principal, the lower will be your monthly instalments and vice versa.
  2. 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.
  3. Tenor- The tenor is the time within which you repay your home loan. It is inversely proportional to your loan EMIs, i.e., the longer the tenor, the smaller your EMIs. But it is important to remember that a longer tenor translates to a high interest outgo.

As an example, the below table shows the EMI, the total payable interest, and the total payable amount for a loan of Rs.1 lakh with home loan interest rate starting at 6.70%* for different tenors calculated by using a house loan calculator.

Home Loan Tenor
For 5 Years
For 10 Years
For 15 Years
For 20 Years
EMI Per Lakh Rs. 1,966 Rs. 1,146 Rs. 882 Rs. 757
Payable Interest Rs. 17,595 Rs. 37,481 Rs. 58,785 Rs. 81,774
Total Payable Amount Rs. 1,17,595 Rs. 1,37,481 Rs. 1,58,785 Rs. 1,81,774

How To Reduce Your Home Loan EMI?

Depending on the tenor and loan amount availed of, EMIs, or equated monthly instalments, 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.

  1. 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 loans, you pay off the outstanding principal amount.
  2. 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.
  3. 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 home loan interest rate or restructure for a longer tenor to reduce your EMI outgo.

What Is A Home Loan Amortization Schedule?

A home loan amortization schedule is a record of 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.

Home Loan Amortization Schedule

  • Year
  • Principal
  • Interest
  • Total Payment
  • Balance

Home Loan Calculator – FAQs

How does the Bajaj Finserv Home Loan EMI calculator work?

Bajaj Finserv housing loan EMI calculator is straightforward and easy to use.

Simply enter the loan amount and tenor of your choice and the applicable rate of interest to check the total amount payable, the total interest payable, and your EMI amount.

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, ultimately resulting in lower EMI amounts.

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 claim a tax benefit on home loan under Section 24 on the interest component of the loan that you repay annually through your EMIs up to Rs. 2 lakhs.

What is the maximum Home Loan I can get?

With Bajaj Finserv, you can avail of high value funding. The exact amount depends on your profile and the property in question, but the quantum of funding is never a problem with us.

How can I repay the Home Loan?

You can repay the Home Loan through Equated Monthly Installments, or EMIs. Each EMI goes towards repaying a part of the principal and a part of the interest. The EMI amount you are liable to pay depends on the loan amount, tenor, and interest rate applicable.

How can I apply for a Home Loan?

You can either apply for a home loan online or offline. Walk into any of our branches for a physical application or fill up our online application form.

What are the documents required to avail of a Home Loan?

Home loan applicants need to furnish personal, income, and property related documents to complete their application. These include PAN Card, Aadhar Card, utility bills, salary slips, and ITRs, among others.

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