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Result
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Formula
EMI = P × r × (1+r)^n / ((1+r)^n - 1)
Example
A ₹30 lakh loan at 8.5% for 20 years typically has a monthly EMI around ₹28,700.
How is a home loan EMI calculated?
Convert the annual rate to a monthly rate and the years to months, then apply EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1). The result is a monthly payment that would amortise the principal if the rate never changed.
The on-screen line is the EMI. Total payment is EMI times the number of months. Interest is that total minus principal. Fees, insurance, and a processing charge are not added.
An earlier rounded illustration of about ₹28,700 for this example does not match the formula on the page. Trust the formula result, ₹26,034.70 for ₹30,00,000 at 8.5% for 20 years, and treat any round marketing figure as approximate.
What will a lender do differently?
A lender can use a different rest, add fees to the principal, change a floating rate, or ask for a prepayment. This page cannot see those terms.
Use the estimate to compare two rates or two tenures you type yourself. Do not treat it as a sanction letter.
How to use this calculator
- Enter the loan amount. Principal in rupees. ₹30 lakh is 3000000.
- Enter the annual interest rate. The yearly percent from the illustration you are testing, not a rate the page looks up.
- Enter the tenure in years. The page multiplies by 12. A 20-year loan is entered as 20, not 240.
Questions about Home Loan Calculator
Is tenure entered in years or months?
Years. The EMI calculator is the page that asks for months.
Does the EMI include property tax or insurance?
No. It is only principal and the interest rate you typed, spread over the months.
Why might a published example differ by a thousand rupees?
Rounding and a slightly different rate or tenure change the EMI. The number to trust on this site is the one the formula produces from your inputs.
Can I model a prepayment?
Not on this form. A prepayment shortens interest but needs a new schedule. This page assumes one rate and one full tenure.
Read the guide
Both loan pages use EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1). The EMI page takes n in months. The home-loan page takes years and sets n to years × 12. A ₹1,00,000 loan at 9% for 12 months is an EMI of ₹8,745.15. A ₹30,00,000 loan at 8.5% for 20 years is an EMI of ₹26,034.70.
Open “EMI in months and a home loan in years”What this helps you do
- Estimate Home Loan from the inputs you already have.
- Check the result against the formula and the worked example.
- Change one value at a time and compare the new estimate.
Limits to keep in mind
- The figure is only as complete as the inputs on this form.
- Rounding, fees, and local rules can change the real-world number.
- Use it to learn and compare. Confirm important finance or health decisions with a qualified professional.