🏠 Home Loan Calculator
Calculate EMI, Amortization & Interest Savings
Loan Details
Loan Summary
| Month | EMI | Principal | Interest | Balance |
|---|
| Year | Opening | Principal | Interest | Closing |
|---|
Frequently Asked Questions
A home loan EMI calculator helps you calculate monthly EMI payments for home loans. It considers loan amount, interest rate, and tenure to provide accurate calculations and amortization schedules.
Reducing balance calculates interest on outstanding amount (decreases monthly). Flat interest charges on full principal throughout tenure. Reducing balance results in lower total interest.
Reduce interest through: 1) Annual prepayments, 2) Step-up EMI, 3) Shorter tenure, 4) Higher down payment, 5) Better rate negotiation. Prepayments can save lakhs in interest.
Shows breakdown of each EMI into principal and interest. Early payments have more interest, later ones more principal. Helps plan prepayments effectively.
Formula: EMI = [P × R × (1+R)^N] / [(1+R)^N - 1]. P = principal, R = monthly rate, N = months. Example: ₹50L at 8.5% for 20 years = ₹43,391/month.