Smart-Calce
₹32,537
₹4,880,476
₹1,880,476
₹3,000,000
| Year | Month | Opening (₹) | EMI (₹) | Principal (₹) | Interest (₹) | Closing (₹) | Completion (%) |
|---|---|---|---|---|---|---|---|
| 2024 | Dec | ₹3,000,000 | ₹32,537 | ₹11,287 | ₹21,250 | ₹2,988,713 | 0.38 % |
| 2025 | Jan | ₹2,988,713 | ₹32,537 | ₹11,366 | ₹21,170 | ₹2,977,347 | 0.76 % |
| 2025 | Feb | ₹2,977,347 | ₹32,537 | ₹11,447 | ₹21,090 | ₹2,965,900 | 1.14 % |
| 2025 | Mar | ₹2,965,900 | ₹32,537 | ₹11,528 | ₹21,008 | ₹2,954,372 | 1.52 % |
| 2025 | Apr | ₹2,954,372 | ₹32,537 | ₹11,610 | ₹20,927 | ₹2,942,762 | 1.91 % |
| 2025 | May | ₹2,942,762 | ₹32,537 | ₹11,692 | ₹20,845 | ₹2,931,070 | 2.3 % |
| 2025 | Jun | ₹2,931,070 | ₹32,537 | ₹11,775 | ₹20,762 | ₹2,919,296 | 2.69 % |
| 2025 | Jul | ₹2,919,296 | ₹32,537 | ₹11,858 | ₹20,678 | ₹2,907,437 | 3.09 % |
| 2025 | Aug | ₹2,907,437 | ₹32,537 | ₹11,942 | ₹20,594 | ₹2,895,495 | 3.48 % |
| 2025 | Sept | ₹2,895,495 | ₹32,537 | ₹12,027 | ₹20,510 | ₹2,883,469 | 3.88 % |
| 2025 | Oct | ₹2,883,469 | ₹32,537 | ₹12,112 | ₹20,425 | ₹2,871,357 | 4.29 % |
| 2025 | Nov | ₹2,871,357 | ₹32,537 | ₹12,198 | ₹20,339 | ₹2,859,159 | 4.69 % |
| 2025 | Dec | ₹2,859,159 | ₹32,537 | ₹12,284 | ₹20,252 | ₹2,846,875 | 5.1 % |
| 2026 | Jan | ₹2,846,875 | ₹32,537 | ₹12,371 | ₹20,165 | ₹2,834,504 | 5.52 % |
| 2026 | Feb | ₹2,834,504 | ₹32,537 | ₹12,459 | ₹20,078 | ₹2,822,045 | 5.93 % |
| 2026 | Mar | ₹2,822,045 | ₹32,537 | ₹12,547 | ₹19,989 | ₹2,809,498 | 6.35 % |
| 2026 | Apr | ₹2,809,498 | ₹32,537 | ₹12,636 | ₹19,901 | ₹2,796,862 | 6.77 % |
| 2026 | May | ₹2,796,862 | ₹32,537 | ₹12,725 | ₹19,811 | ₹2,784,136 | 7.2 % |
| 2026 | Jun | ₹2,784,136 | ₹32,537 | ₹12,816 | ₹19,721 | ₹2,771,321 | 7.62 % |
| 2026 | Jul | ₹2,771,321 | ₹32,537 | ₹12,906 | ₹19,630 | ₹2,758,415 | 8.05 % |
A home loan calculator is an online tool that helps you estimate your monthly Equated Monthly Installments (EMIs) for a home loan. By entering the loan amount, interest rate, and loan tenure, you can determine your monthly repayment obligations. This tool is essential for homebuyers, as it helps them plan their finances and make informed decisions about their home loan.
The formula used to calculate EMI for a home loan is:
EMI = P × r × (1 + r)n (1 + r)n - 1
Here’s what each term in the formula represents:
P: Principal loan amount (the amount borrowed to buy the home).
r: Monthly interest rate (annual rate divided by 12 and then by 100).
n: Loan tenure in months (years × 12).
Let’s calculate the EMI for a home loan using the following details:
Loan Amount (P): ₹40,00,000
Annual Interest Rate: 7.5% (r = 7.5/12/100 = 0.00625)
Loan Tenure: 20 years (n = 20 × 12 = 240 months)
Using the formula:
Substitute the values into the formula: EMI = [4000000 × 0.00625 × (1 + 0.00625)^240] / [(1 + 0.00625)^240 - 1].
Calculate (1 + r)^n: (1 + 0.00625)^240 ≈ 5.3436.
Simplify: EMI = [4000000 × 0.00625 × 5.3436] / [5.3436 - 1].
Solve: EMI ≈ ₹33,790.04.
A home loan calculator offers numerous advantages for homebuyers. Here’s why it’s important to use one:
Quick and Accurate EMI Calculation: Instantly calculate your monthly repayments based on loan details.
Better Financial Planning: Determine how much you can afford to borrow and plan your budget accordingly.
Compare Loan Options: Evaluate different home loan options by adjusting loan amounts, interest rates, and tenures.
Time-Saving: No need to manually calculate the EMIs. The tool provides instant results.
Transparency: Get a clear understanding of your total loan cost, including principal and interest.
A home loan calculator is an online tool that helps you estimate your monthly EMI for a home loan based on the loan amount, interest rate, and loan tenure.
You enter the loan amount, interest rate, and loan tenure into the calculator, and it uses the EMI formula to calculate the monthly repayment amount.
The EMI for a home loan depends on the loan amount, interest rate, and loan tenure. A higher loan amount or interest rate results in a higher EMI, while a longer tenure reduces the EMI but increases the total interest paid.
Yes, a home loan calculator can be used to estimate EMIs for refinancing a mortgage loan with a new interest rate or tenure.
Yes, most home loan calculators are free and available online.