Calculate your housing loan EMI and see the full payment schedule.
Our housing loan emi calculator helps you accurately estimate your monthly payments. Simply enter the property value, your down payment, the home loan interest rate, and the home loan tenure. The tool then calculates your EMI and, crucially, generates a detailed loan amortization schedule.
This schedule provides a month-by-month principal and interest breakdown, showing how much of your EMI goes towards reducing your loan and how much goes towards interest. This transparency is key to understanding the true cost of your loan over its lifetime.
A Home Loan EMI (Equated Monthly Instalment) is the fixed amount you pay to the bank each month until your loan is fully repaid. It consists of two parts: the principal loan amount and the interest charged on the loan.
Making a higher down payment reduces your principal loan amount. A smaller loan means your monthly EMI will be lower, and you will pay significantly less in total interest over the life of the loan. It's one of the most effective ways to save money on a home loan.
A loan amortization schedule is a complete table of your periodic loan payments, showing the amount of principal and interest that comprise each payment until the loan is paid off. In the early years, a larger portion of your EMI goes towards interest, and this gradually shifts towards the principal amount over time.
A fixed interest rate remains constant throughout the loan tenure, providing predictable EMIs. A floating interest rate is linked to market benchmarks and can change, causing your EMI to increase or decrease. Floating rates are often lower initially but carry the risk of rising in the future.
Yes, most banks allow you to prepay your home loan. Making partial prepayments can significantly reduce your outstanding principal, which in turn can either lower your future EMIs or reduce your loan tenure, saving you a large amount in interest payments.