Monthly installment (EMI), total interest and affordability for a home loan or mortgage.
How this works
EMI = P x r x (1 + r)^n / ((1 + r)^n – 1), where P is the loan, r the monthly rate (yearly rate / 12 / 100) and n the number of months. Banks usually want the EMI under 40% of monthly take-home income.
Questions people ask
How do I use the Home Loan EMI Calculator?
Fill in the fields, starting with “Loan amount”, “Interest rate per year” and “Loan term”, and change any other options that match your home. The answer, a drawing and practical tips update as you type, and the Copy link button saves your numbers in a link you can share.
Is the Home Loan EMI Calculator free?
Yes. The Home Loan EMI Calculator is free, with no sign-up, and works on phones, tablets and computers. The results are estimates to help you plan, so check with a qualified professional before structural, electrical, gas or plumbing work.