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Home Loan EMI Calculator

Calculate your home loan EMI with property value, down payment, and LTV ratio. Plan your dream home purchase with full amortization schedule.

Home Loan Details

โ‚น
Total cost of the property
%
= โ‚น10,00,000
%
Annual interest rate
years
= 240 months
%
One-time processing fee (% of loan)
๐Ÿ 

Enter home loan details to see your EMI

About Home Loan EMI Calculator

A home loan (also called housing loan or mortgage) is a secured loan provided by banks and NBFCs to purchase a residential property. The loan is repaid through Equated Monthly Installments (EMIs) over a period of 5 to 30 years.

Key Components

  • Property Value โ€” Total cost of the house/flat you want to buy
  • Down Payment โ€” Your upfront contribution (usually 10-20% of property value)
  • Loan Amount โ€” Property Value โˆ’ Down Payment
  • LTV (Loan-to-Value) โ€” Loan Amount รท Property Value ร— 100 (max 80-90%)
  • Processing Fee โ€” One-time charge by lender (0.25% to 1% of loan)

Home Loan EMI Formula

EMI = [P ร— R ร— (1+R)^N] / [(1+R)^N โˆ’ 1]

  • P โ€” Loan amount (Property Value โˆ’ Down Payment)
  • R โ€” Monthly interest rate
  • N โ€” Tenure in months

Tips to Get Best Home Loan

  • Compare interest rates from multiple banks before finalizing.
  • Maintain a good credit score (750+) to get lower interest rates.
  • Pay higher down payment to reduce loan amount and EMI burden.
  • Consider shorter tenure if you can afford higher EMI โ€” saves interest.
  • Check for hidden charges: processing fee, prepayment penalty, legal fees.
  • Claim tax deductions: โ‚น1.5L under 80C (principal) + โ‚น2L under 24(b) (interest).

Eligibility Criteria

  • Age: 21-65 years
  • Minimum monthly income: โ‚น25,000 (salaried), โ‚น3L annual (self-employed)
  • FOIR (Fixed Obligation to Income Ratio): Usually 40-50%
  • Credit Score: 750+ recommended