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Loan EMI calculator
Loan balance:
Interest rate: %
Loan term: years  or   months
Quick Loan EMI Calculator Reference
Loan balance:Amount which you intend to borrow or take the loan for. This amount is excluding the downpayment amount.
EMI:Equal Monthly Installments of the loan that you have to pay every month.
EMI Type:Depending on the financial institution/banks EMI's may be of 2 types viz.
EMI in Advance: You have to pay the EMI at the start of the loan followed by beginning of each month. Also known as Front-Loaded EMI.
EMI in Arrears: You have to pay the EMI at the end of each month. Also known as Rear-Ended EMI.
Loan Term:Period of the home loan in years
Interest Rate: Rate of Interest for the EMI home Loan.
Home Loan EMI Calculator - FAQ
  • You can see the answers for all frequently asked questions regarding home loan EMI calculator Home Loan FAQ
Calculate EMI quickly, using this tool. (Very Handy EMI Calculator)
For Reducing Balance EMI Calculator, click here.
For Car Loan EMI Calculator, click here.
For Home Loan EMI Calculator, click here.
What is EMI?
  • The first word you will hear from the bank when you are taking a home loan or auto loan or personal loan from the bank to purchase your dream home or to purchase your dream car is EMI, which means Equated Monthly Installments.
  • EMI is the amount payable to the Bank or other lending institution every month, till the home loan /auto loan/ personal loan is paid back in full. It consists of interest on the outstanding home loan /auto loan/ personal loan amount and part of the principal to be repaid.
  • This is an easy way for individuals to repay the loan in smaller monthly payments, as the huge home loan /auto loan/ personal loan will be split into affordable equal monthly installments.
  • At the same time its an easy way for banks to hide the huge interest rate component with the help of small EMI !!!
Download Home Loan EMI Calculator
  • You can download the EMI Calculator Excel Sheet from here
What is EMI Forumula?
  • The formula for calculation of EMI given the loan, term and interest rate is:

    E= P x r x (1 + r)n / ((1+r)n -1)

    p=principal amount
    r = interesr rate per month(ex: if interest rate per annum is 10% then 10/(12*100))
    n= tenure in months / no. of instalments in the tenure,

    Alternatively, the reader can use `Calculate EMI function' in EXCEL spread sheet.
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