📊 Home Loan EMI Calculator
Planning your finances is easier when you know your monthly commitment. Use our Mortgage EMI Calculator to estimate how much you’ll pay every month for your home loan.
🔹 What is EMI?
EMI (Equated Monthly Installment) is the fixed amount you pay every month towards your home loan, which includes both principal + interest.
🔹 Formula to Calculate EMI
EMI=P×r×(1+r)n(1+r)n−1EMI = \frac{P \times r \times (1+r)^n}{(1+r)^n – 1}EMI=(1+r)n−1P×r×(1+r)n
Where:
- P = Loan amount (Principal)
- r = Monthly interest rate (Annual rate ÷ 12 ÷ 100)
- n = Loan tenure in months
🔹 Example Calculation
- Loan Amount (P): ₹50,00,000
- Interest Rate: 8% per annum (0.0067 per month)
- Tenure: 20 years (240 months)
👉 EMI ≈ ₹41,822 per month
🔹 Benefits of Using Our EMI Calculator
✔️ Get instant monthly payment estimates
✔️ Plan your loan tenure smartly
✔️ Compare different loan offers
✔️ Avoid surprises in repayment