EMI stands for equated monthly instalment. It is the amount you repay the lender each month, and it covers part of the loan amount (the principal) and the interest on it.
Home Loan EMI Calculator & Financial Tools
Tools for Smart Money Decisions
L
R
Currency Converter
EMI Calculator
Calculate the EMI that you will be required to pay for your home loan with our easy to understand home loan EMI calculator.
₹
₹
₹
₹
Plan your home purchase with these tools
Before you speak to a bank, it helps to know roughly what a home loan will cost each month. The EMI calculator on this page turns a loan amount, a repayment period and an interest rate into a monthly instalment. The currency converter helps buyers who hold money in another currency work out an approximate amount in rupees.
Both tools give estimates only. Your lender decides the actual loan amount, interest rate and EMI. Your bank or remittance provider decides the exchange rate and any fees.
How to use the EMI calculator
- Loan amount. Enter the amount you expect to borrow, not the full price of the home.
- Tenure. Enter the repayment period in months. For example, 20 years is 240 months. A longer tenure lowers the monthly EMI, but you pay interest for more years.
- Interest rate. Enter the annual rate your lender has quoted.
The calculator then shows your monthly EMI, the principal, the total interest and the total amount payable.
Reading your result
Change one value at a time to see its effect. Try a different tenure with the same loan amount, or compare two interest rates before you speak to lenders.
An EMI figure is not a loan offer, and it does not show whether you will be approved. Lenders look at income, existing loans, credit history, age and their own policies before they decide.
Costs to plan for beyond the EMI
The EMI is one part of what a home costs. Depending on the home and the transaction, you may also need to plan for:
- your down payment
- stamp duty and registration charges
- applicable taxes and statutory charges
- lender processing and other loan charges
- maintenance and other project-related payments
- interiors, furnishing and moving
Rates for stamp duty, taxes and charges change, so ask the sales team, your lender and a qualified professional for the figures that apply to your purchase.
Using the currency converter
Enter the amount, choose the currency you are converting from and the currency you are converting to, then press Convert. Treat the result as an indication. The rate your bank or transfer provider applies can differ, and fees and transfer rules apply on top. Confirm these with your bank or an authorised provider before you move money.
Faqs
Home loan and currency tools: common questions
What is a home loan EMI?
How is home loan EMI calculated?
It depends on three things: the loan amount, the interest rate and the repayment period. Enter these in the EMI calculator on this page to see an estimated monthly instalment.
How does the loan tenure affect my EMI?
For the same loan amount and interest rate, a longer tenure usually lowers the monthly EMI but means you pay interest for more years. A shorter tenure usually raises the monthly EMI and ends the loan sooner.
Is the EMI shown here the exact amount my bank will charge?
No. The calculator gives an estimate from the values you enter. Your actual EMI depends on the loan amount the lender sanctions, the interest rate that applies to you, the loan structure and the lender's other terms.
Does the EMI calculator tell me if I am eligible for a home loan?
No. An EMI figure is not an eligibility check or a loan offer. Lenders decide eligibility using their own criteria, which can include income, existing loans, credit history and age.
What other costs should I plan for when buying a home?
Besides the price of the home and the EMI, you may need to plan for the down payment, stamp duty and registration charges, applicable taxes, lender charges, maintenance and other project-related payments, and the cost of interiors and furnishing. The exact items depend on your purchase.
Can NRIs use the currency converter?
Yes. Anyone can use it to compare an amount across the listed currencies while planning a purchase. The result is only an indication. Confirm the exchange rate, fees and transfer requirements with your bank or an authorised provider.
Is this financial advice?
No. The calculators give indicative figures for general planning. They are not financial, lending, tax or investment advice. Confirm financing terms, charges and requirements with your lender or a qualified professional.
Keep exploring
Where to go next
+