Home Loan EMI Calculator



Principal Amt. 100000

Interest Payable 18250

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While planning to buy a house one of the most important factors is to decide how much loan must be availed. The key aspect that must be taken into account is what will the EMI amount and if the same is affordable given current monthly income. You can estimate your EMI by using IIFL’s Home Loan EMI Calculator given above.

With lower EMIs, attractive interest rates and repayment tenure upto 20 years, IIFL Home Loans help you own your dream house quickly and repay your loan comfortably.

If you have already taken a Home Loan from another bank or NBFC and are unhappy with the service or wish to reduce the EMI burden, you can apply for Balance Transfer and save money.

“What is Home Loan EMI?”

It means a fixed amount of payment that a borrower pays to a lender on a specified date every month as repayment of the home loan taken. The abbreviation of EMI is Equated Monthly Installment.

EMI = Principal amount + Interest on principal amount. This is paid through auto debit instructions to the bank or with post dated cheques.

“How is my Home Loan EMI calculated?”

You should know what you are paying each month as an Equated Monthly Installment (EMI) or what you are going to pay as a loan installment to your lender. The EMI is calculated on the basis of combinations of following factors namely principal amount, interest rate, tenure of loan and computation method.

EMI Calculation Formula:


Here, E stands for EMI, P means for principle, R means rate of interest every month. N indicates the tenure of loan. The monthly payable amount remains fixed but with passage of time, you will pay less towards interest and more towards principal.

However, to understand how much EMI you need to shell out, the first thing you need to know is that how much loan can you take. To compute your eligibility, you need to provide few basic personal details such as PAN Card No, Date of Birth and professional details like organization’s name, income status and job tenure. These factors affect the chargeable interest rate on your loan. In order to pay dues on time, you need to calculate the accurate EMI in advance. The EMI helps you to assess whether loan is affordable or not.

Example -
Abhijit with 5 years of professional experience earns Rs 70,000 a month. He wants to purchase a property worth Rs 50,000,00. How much home loan he can get on his salary? What would be his EMI?

The eligibility for total home loan amount will be around Rs 42,50,000/- And, the E.M.I would stand around Rs 40,033 and this would be for 20 years.


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