Home Loan EMI Calculator - Calculate Monthly EMI for Housing Loan Online
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Home Loan EMI Calculator


Monthly EMI

Principal Amount

Total Interest

Total Amount

Home Loan EMI Calculator – Calculate Your Housing Loan EMI Online

Given the high price of real estate in India, purchasing a house can be a challenging task without an external source of finance. An increasing number of prospective home buyers are opting for this type of credit to fund their house purchase. It is no surprise that housing credit grew by over 16% in FY18.

The primary responsibility of a potential borrower is to have an exact estimate of the EMI amount they are liable to pay. One can take advantage of a home loan EMI calculator to arrive at the precise number.

How can home loan EMI calculator help you?

Equated Monthly Instalment or EMI is a fixed amount that a borrower must pay back to the lender every month till their tenure ends.

Calculating the EMI and its components can be a cumbersome exercise for first-time financers. A home loan EMI calculator India can do these complex calculations in no time, and save you from the trouble of doing it manually.

  1. Manually performing such complicated home loan EMI calculations can be both time-consuming and inaccurate. A home loan monthly EMI calculator saves the valuable time of prospective home buyers.
  2. It gives you an accurate estimate, which is pivotal for financial planning. There is no probability of any inaccuracies or ambiguity.
  3. The EMI calculation procedure for each type of loan is different. For example, home loan EMI calculation is different from personal loan EMI. The housing loan EMI calculator is specific only for home loans.
  4. The online calculator is free for unlimited use. You can check the EMI for various loan amounts and determine which amount suits your financial situation.

The formula to determine home loan EMI amount

All online calculators use a specific home loan EMI calculator formula to arrive at the exact EMI amount, which is –

E = [P x R x (1+R) ^N] / [(1+R) ^N-1]

E EMI amount P Principal amount R Rate of interest N Loan tenure

A home loan EMI calculator online can help you find the exact amount without fail.

For example, assume that a person avails a home loan worth Rs. 1 Crore for a tenure of 15 years at an agreed-upon interest rate of 12%. So, according to the formula –

E = [1, 00, 00,000 x 12 x (1+12) ^ 15] / [)1+12) ^ 20-1]

A home loan EMI calculator India will instantly help you compute the exact result, which in this case should be Rs. 1, 10,108.

Now, each loan EMI has two components – a principal component and an interest component. At the beginning of the tenure, the interest component is high, and the principal part is relatively low. The equation changes with every passing month, as the total interest to be paid reduces faster. So, with every EMI paid, the interest component decreases while the principal component increases.

How to use Professional Utilities online home loan EMI calculator?

Professional Utilities is one of the leading financial resources providers. The housing loan EMI calculator India available here is very easy to use.

All you have to do is enter the loan amount, interest rate and the loan tenure in years.

The exact EMI value will be calculated and displayed within seconds.

Advantages of using Professional Utilities calculator

There are numerous advantages of using the calculator available at this website.

  1. It’s easy to use. All you have to do is insert a few necessary details, and the calculator will do the rest.
  2. It’s free for everyone. You don’t even have to register to the website.
  3. There is no limit on the number of times you can use it. So, you can quickly check the EMI for different home loan amounts.

As a debt category, the home loans corpus is expected to grow faster in the coming years. An online bank EMI calculator for a home loan is the go-to tool for all prospective debtors.


 What is EMI?

EMI stands for Equated Monthly Instalment. In simple terms, it is the amount a borrower needs to pay the lender every month till his/her tenure ends.

 How is EMI calculated?

EMI is calculated after taking the entire range of variables vis-à-vis principal amount, interest rate and tenure into account and computed using a formula.

 Why use the online EMI calculator?

The online EMI calculator provides you with an accurate estimate and helps you save time.

 How many times can you use the calculator?

There is no upper limit on the number of times one can use the calculator.

 Is the EMI amount fixed?

Yes if you avail the home loan on a fixed rate of interest. If you have availed a home loan on floating rate of interest, your EMIs will vary over the tenor. In either case, you can reduce the EMIs if you make a part-prepayment.

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