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EMI Calculator

This home loan EMI calculator assists you in determining your EMI (Equated Monthly Installment) as well as the total amount of interest you will pay over the course of the loan.

Keep in mind that the longer the loan term, the more interest you’ll have to pay back on your mortgage.

HOW DOES THE HOME LOAN EMI CALCULATOR WORK?

You may determine your home loan’s EMI with the aid of a calculator (Equated Monthly Installment). This calculator assists you in determining your monthly loan EMI when you plan for a loan to buy or build a new home.

The loan EMI calculator also helps you determine the total interest you will pay over the course of the loan. Loan Amount + Total Interest Equals the Total Amount You Pay to Repay Your Loan.

Method for calculating home loan EMIs

  • The calculation of house loan EMIs has already been covered here.
  • Excel’s PMT tool makes calculating home loan EMIs simple.
  • The PMT function has three inputs: Interest rate, the number of months left, and the remaining principal value
  • The interest rate offered should equal the monthly interest rate on a mortgage divided by 100.
  • The amount of months that still need to have their EMIs paid is known as the remaining months.
  • The principal value of your loan account is the outstanding principal balance.
  • Recall that your EMI consists of two components: Total Principal Paid and Total Interest Paid
  • Initial interest rates are high, but they gradually decline over time.
  • Initial principal amount is minimal, but it rises with time.

PARTS OF A LOAN EMI

Principal and Interest Amounts are the two main parts of a loan’s EMI.

The starting principal amount is minimal, but it rises over time.

Initial interest rates are high and gradually decline over time.

You pay the bulk of the interest during the first half of the loan term.

Loan EMI Calculator

Amount (A)
Interest Rate (R) (in %)
Tenure (T) (in months)
Processing Fees (P) (in %)
Down Payment (D)

Total Down Payment (TDP)
(TDP = D + P)

12

Loan EMI (LE)
(PLA= A - D)
(PLA = Principal Loan Amount)
(LE = [PLA x R x (1+R)^T]/[(1+R)^T-1] )

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Total Interest Payable (TIP)
(TIP = LE * T)

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Total Payment (TP)
(TP = LA + TIP + P)

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