Smart-Calce
₹50,713
₹9,128,399
₹4,128,399
₹5,000,000
| Year | Month | Opening (₹) | EMI (₹) | Principal (₹) | Interest (₹) | Closing (₹) | Completion (%) |
|---|---|---|---|---|---|---|---|
| 2024 | Dec | ₹5,000,000 | ₹50,713 | ₹13,213 | ₹37,500 | ₹4,986,787 | 0.26 % |
| 2025 | Jan | ₹4,986,787 | ₹50,713 | ₹13,312 | ₹37,401 | ₹4,973,474 | 0.53 % |
| 2025 | Feb | ₹4,973,474 | ₹50,713 | ₹13,412 | ₹37,301 | ₹4,960,062 | 0.8 % |
| 2025 | Mar | ₹4,960,062 | ₹50,713 | ₹13,513 | ₹37,200 | ₹4,946,549 | 1.07 % |
| 2025 | Apr | ₹4,946,549 | ₹50,713 | ₹13,614 | ₹37,099 | ₹4,932,935 | 1.34 % |
| 2025 | May | ₹4,932,935 | ₹50,713 | ₹13,716 | ₹36,997 | ₹4,919,219 | 1.62 % |
| 2025 | Jun | ₹4,919,219 | ₹50,713 | ₹13,819 | ₹36,894 | ₹4,905,399 | 1.89 % |
| 2025 | Jul | ₹4,905,399 | ₹50,713 | ₹13,923 | ₹36,790 | ₹4,891,477 | 2.17 % |
| 2025 | Aug | ₹4,891,477 | ₹50,713 | ₹14,027 | ₹36,686 | ₹4,877,449 | 2.45 % |
| 2025 | Sept | ₹4,877,449 | ₹50,713 | ₹14,132 | ₹36,581 | ₹4,863,317 | 2.73 % |
| 2025 | Oct | ₹4,863,317 | ₹50,713 | ₹14,238 | ₹36,475 | ₹4,849,078 | 3.02 % |
| 2025 | Nov | ₹4,849,078 | ₹50,713 | ₹14,345 | ₹36,368 | ₹4,834,733 | 3.31 % |
| 2025 | Dec | ₹4,834,733 | ₹50,713 | ₹14,453 | ₹36,260 | ₹4,820,280 | 3.59 % |
| 2026 | Jan | ₹4,820,280 | ₹50,713 | ₹14,561 | ₹36,152 | ₹4,805,719 | 3.89 % |
| 2026 | Feb | ₹4,805,719 | ₹50,713 | ₹14,670 | ₹36,043 | ₹4,791,049 | 4.18 % |
| 2026 | Mar | ₹4,791,049 | ₹50,713 | ₹14,780 | ₹35,933 | ₹4,776,268 | 4.47 % |
| 2026 | Apr | ₹4,776,268 | ₹50,713 | ₹14,891 | ₹35,822 | ₹4,761,377 | 4.77 % |
| 2026 | May | ₹4,761,377 | ₹50,713 | ₹15,003 | ₹35,710 | ₹4,746,374 | 5.07 % |
| 2026 | Jun | ₹4,746,374 | ₹50,713 | ₹15,116 | ₹35,598 | ₹4,731,258 | 5.37 % |
| 2026 | Jul | ₹4,731,258 | ₹50,713 | ₹15,229 | ₹35,484 | ₹4,716,029 | 5.68 % |
A mortgage loan calculator is an online tool designed to help you estimate your monthly Equated Monthly Installments (EMIs) for a home or property loan. By entering the loan amount, interest rate, and loan tenure, you can determine your monthly repayment obligations. This tool is essential for homebuyers to plan their finances effectively and make informed decisions about their mortgage.
The formula used to calculate EMI for a mortgage 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 for purchasing the property).
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 mortgage loan using the following details:
Loan Amount (P): ₹50,00,000
Annual Interest Rate: 8% (r = 8/12/100 = 0.00667)
Loan Tenure: 20 years (n = 20 × 12 = 240 months)
Using the formula:
Substitute the values into the formula: EMI = [5000000 × 0.00667 × (1 + 0.00667)^240] / [(1 + 0.00667)^240 - 1].
Calculate (1 + r)^n: (1 + 0.00667)^240 ≈ 4.92328.
Simplify: EMI = [5000000 × 0.00667 × 4.92328] / [4.92328 - 1].
Solve: EMI ≈ ₹41,822.96.
A mortgage loan calculator offers numerous advantages for homebuyers. Here’s why it’s essential:
Accurate Projections: Calculate your monthly EMIs with precision based on loan details.
Better Financial Planning: Understand your repayment obligations and budget accordingly.
Time-Saving: Quickly compute EMI values without manual calculations.
Comparison Tool: Adjust loan amounts, interest rates, or tenures to evaluate different financing options.
Clarity on Total Cost: Know the total repayment amount, including principal and interest, to plan long-term finances effectively.
A mortgage loan calculator is an online tool that helps you estimate your monthly EMIs for a home or property loan based on the loan amount, interest rate, and tenure.
It allows you to calculate your monthly repayment amount, compare loan options, and choose terms that fit your financial situation.
The EMI depends on the loan amount, interest rate, and loan tenure. Higher loan amounts or interest rates result in higher EMIs, while longer tenures reduce EMIs but increase total interest paid.
Yes, you can use it to estimate EMIs for refinancing a mortgage or switching to a lower interest rate loan.
Yes, most mortgage loan calculators are free and easily accessible online.