Reference 1
- Loan
- INR 30 L
- Rate
- 8.5%
- Tenure
- 20 years
- Approx EMI
- INR 26,035
- Total Interest
- INR 32.5 L
रांखान्थि
Home Loan EMI Calculator
Calculate home loan EMI using the reducing balance formula and view total interest, principal, and first-year amortized breakdown.
फर्मुला बेखेवथि
EMI = P x r x (1 + r)^n / ((1 + r)^n - 1)A home loan EMI uses the reducing balance method. Interest is calculated on the outstanding loan balance each month, while the principal component increases over time.
Step-by-Step Example
- 1Convert annual interest rate into monthly rate by dividing by 12 and 100.
- 2Convert tenure from years to total months.
- 3Apply the standard EMI formula using principal, monthly rate, and number of months.
- 4Split each EMI into monthly interest and principal repayment to understand amortization.
Reference
Benchmark Table
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Reference 2
- Loan
- INR 50 L
- Rate
- 8.5%
- Tenure
- 20 years
- Approx EMI
- INR 43,391
- Total Interest
- INR 54.1 L
Reference 3
- Loan
- INR 75 L
- Rate
- 9.0%
- Tenure
- 25 years
- Approx EMI
- INR 62,940
- Total Interest
- INR 1.14 Cr
Reference 4
- Loan
- INR 1 Cr
- Rate
- 8.0%
- Tenure
- 15 years
- Approx EMI
- INR 95,565
- Total Interest
- INR 72.0 L
गोबां सोङनाय
EMI is calculated using principal, monthly interest rate, and number of monthly installments under the reducing balance formula.
In a reducing balance loan, interest is charged on the outstanding principal. Since the balance is highest early on, the interest component is also higher.
Lenders usually allow you to reduce either EMI or tenure after a prepayment. Reducing tenure generally saves more interest.
No. This calculator estimates EMI and interest from loan terms only. Fees, insurance, stamp duty, and taxes are not included.
Monthly EMI
₹43,391.16