Home Loan Calculator

Loan Amount is 500000

No. of Month is 60

Rate of Interest [ROI] is 9.5

Monthly EMI
Total Interest
Payable Amount
Interest Percentage

What is Home Loan EMI?

EMI means Equated Monthly Instalment. Home Loan calculator help to understand ratio of the principal amount and interest amount due. A longer Home loan tenure helps in reducing the EMI. Home loan calculator also helps to check eligibility and know how much you are comfortable paying as EMI every month. It also gives you rough idea about your loans.

How To use Home Loan calculate?

EMI Formula [P x R x (1+R)^N]/[(1+R)^N-1] E is EMI P is Principal Loan Amount R is the interest rate per month N is loan term Set your Following information in EMI Home Calculator Loan Amount Loan term number of years or months Rate of interest Pie chart displays break-up of total payment(total interest payable vs total principal) also know EMI amounts

Types of Home Loans

There Different types of home Loans following are:
  • Land Purchase Loan
  • Home Purchase Loan
  • Home Construction Loan
  • Home Conversion Loan
  • Home Improvement Loan
  • Balance Transfer loans
  • Reverse Home Loans
  • Loan against property

Home Loan Eligibility and Documentation

  • The minimum age of applicant should be 21 years. Repayments have to be completed before the age of 60 or 65.
  • Residence proof
  • Income Proof
  • Employment experience Proof
  • Last 6 months bank statement
  • 3 months’ salary slips
  • 3 years Income Tax Returns File