Home Loan EMI Calculator

Calculate Your Home Loan EMI

Loan AmountRs.

Rs.1 LakhRs.15 Crore


1 Year40 years

Interest Rate%


Your EMI is Rs. 0


Total Interest

Rs. 0.00


Total Amount

Rs. 0.00

View Repayment Schedule Apply Now

Repayment schedule


Housing Loan EMI Calculator

Applying for a Home Loan requires you to take multiple numbers into consideration such as the principal amount, the rate of interest and consequently the EMI amount. While principal denotes the loan amount you avail of, your EMI comprises of an additional component which is the interest. Hence, the total repayment you make during the lifetime of your loan tenor is much more than the amount you have availed loan for. So before jumping on the loan wagon, you should calculate your monthly EMI using the ​Home Loan EMI Calculator and see how you can manage your expenses to be able to make the repayments smoothly without a break.

Our online housing loan EMI calculator is an accurate tool that can help you quickly and easily estimate your monthly EMIs. You can use Home Loan calculator to determine which loan terms are best suited to your needs. It allows you to calculate the applicable EMI amounts by entering basic information such as the principal, interest rate, and tenor. Furthermore, it provides information on the amount of interest you will pay over the term of your loan. Therefore, using a ​Home Loan interest rate calculator by Bajaj Housing Finance is a great way to be sure of your financial feasibility before you apply for a Home Loan and make wise decisions.

The following is a table showing the Home Loan EMI ​​​payable​​​ by you and the total interest for a certain Home Loan amount, interest rate and tenor.​​​​​

​​​Loan Amount​​ ​​​Rs. 70,00,000​​
Tenor​​ ​​​40 years​​
​​​Interest Rate ​​ ​​​8.60% p.a.​​
​​​EMI​​ ​​​Rs. 51,850​​
​​​Total Interest Payable​​ ​​​Rs. 1,78,87,872​​
​​​Total Amount Payable​​ ​​​Rs. 2,48,87,872​​

AllHomeLoanCalculators_WC (-income tax)

How to use Bajaj Finance’s Home Loan EMI Calculator?

How to Use Bajaj Housing Finance Home Loan EMI Calculator?

The steps to use the Home Loan Calculator are easy to follow.

  1. First select or add your desired loan amount
  2. In the next step, pick or type your preferred repayment tenor
  3. In the last step, slide to choose the rate of interest or add it in the interest rate box

The tool will then calculate the tentative Home Loan EMI amount.

How are Home loan EMIs Calculated?_WC

How to Calculate Home Loan EMI?

The housing loan EMI calculation formula below shows how the EMI, principal, rate of interest, and tenor are related.

EMI calculation Formula:

EMI = [P x R x (1+R)N ]/[(1+R)N-1]


‘P’ is the principal or loan amount

‘R’ is the monthly Home Loan interest rate

‘N’ is the number of EMIs (the tenor in months)

It can be time-consuming to manually calculate the EMI using the formula. Using the Bajaj Housing Finance EMI Calculator, you can quickly calculate your Home Loan EMI.

Even though this provides you with a general overview of your repayment strategy, keep in mind that the actuals can change if you decide to make a partial prepayment or if the interest rate changes.

Home Loan EMI Calculation with Example?

Let us look at an example to calculate EMIs manually. If a person avails a loan of Rs. 50,00,000 at an annual interest rate of 8.7% for a tenure of 240 months (20 years), then their EMI will be calculated as under:

EMI= 50,00,000 * 0.00725 * (1 + 0.00725)^240 / [(1 + 0.00725)^240 – 1] = 44,026

The total amount payable will be Rs. 44,026 * 240 = Rs. 1,05,66,275.

Principal loan amount is Rs. 50,00,000 and the Interest amount will be Rs. 55,66,275

As you can see, calculating the EMI manually using the formula can be tedious and prone to error. Instead, our online Home Loan EMI calculator can help you calculate your loan EMI with ease.

​Home Loan Amortization Schedule

​Home Loan Amortization Schedule

The amortisation schedule is a table that shows a detailed breakup of each Home Loan EMI and their due dates. It shows both the principal and interest components of each EMI over the tenor. Here is a sample amortisation schedule for a Home Loan of Rs. 30 Lakh at 8.60% interest rate p.a. and a tenor of 20 years.

​​​Year​​ ​​​ Principal Loan Amount (in Rs.)​​ ​​​Interest (in Rs.)​​ ​​​EMI Amount (in Rs.)​​ ​​​ Balance Amount (in Rs.)​​ Loan paid to date (in %)​​
1 ​​​19,104​​ ​​​85,796​​ ​​​1,04,900​​ ​​​61,89,072​​ 1.67​​
2 60,697​ ​​​2,54,002​​ ​​​3,14,699​​ ​​​58,74,374​​ ​​​6.67​​
3 ​​​66,128​​ ​​​2,48,571​​ ​​​3,14,699​​ ​​​55,59,675​​ ​​​11.67​​
4 ​​​72,044​​ ​​​2,42,654​​ ​​​3,14,699​​ ​​​52,44,977​​ ​​​16.67​​
5 ​​​78,490​​ ​​​2,36,208​​ ​​​3,14,699​​ ​​​49,30,278​​ ​​​21.67​​
6 ​​​85,513​​ ​​​2,29,186​​ ​​​3,14,699​​ ​​​46,15,579​​ ​​​26.67​​
7 ​​​93,164​​ ​​​2,21,535​​ ​​​3,14,699​​ ​​​43,00,881​​ ​​​31.67​​
8 ​​​1,01,499​​ ​​​2,13,199​​ ​​​3,14,699​​ ​​​39,86,182​​ ​​​36.67​​
9 ​​​1,10,581​​ ​​​2,04,118​​ ​​​3,14,699​​ ​​​36,71,484​​ ​​​ ​​​41.67​​ ​​​
10 ​​​1,20,475​​ ​​​1,94,224​​ ​​​3,14,699​​ 33,56,785​​ 46.67​​
11 ​​​1,31,254​​ ​​​18,36,445​​ ​​​3,14,699​​ ​​​30,42,086​​ ​​​51.67​​
​​​12​​ ​​​1,42,997​​ 1,71,701​​ ​​​3,14,699​​ ​​​27,27,388​​ ​​​56.67​​
​​​13​​ ​​​1,55,792​​ ​​​1,58,907​​ ​​​3,14,699​​ ​​​24,12,689​​ ​​​61.67​​
​​​14​​ ​​​1,69,731​​ ​​​1,44,968​​ ​​​3,14,699​​ ​​​20,97,991​​ ​​​66.67​​
​​​15​​ ​​​1,84,917​​ ​​​1,29,782​​ ​​​3,14,699​​ ​​​17,83,292​​ ​​​71.67​​
​​​16​​ 2,01,462​​ ​​​1,13,237​​ ​​​3,14,699​​ ​​​14,68,593​​ ​​​76.67​​
​​​17​​ ​​​2,19,487​​ ​​​95,212​​ ​​​3,14,699​​ ​​​11,53,895​​ ​​​81.67​​
​​​18​​ ​​​2,39,125​​ ​​​75,574​​ ​​​3,14,699​​ ​​​8,39,196​​ ​​​86.67​​
​​​19​​ 2,60,520​​ ​​​54,179​​ ​​​3,14,699​​ ​​​5,24,498​​ ​​​ ​​​91.67​​
20​​ ​​​2,83,829​​ ​​​30,869​​ ​​​3,14,699​​ ​​​2,09,799​​ 96.67​​
​​​21​​ ​​​203192​​ ​​​6608​​ ​​​209799​​ ​​​0​​ ​​​100.00​​

Benefits of using Home Loan Calculator_WC

Benefits of Using the Home Loan Calculator

A ​​Home Loan EMI Calculator​​ lets you easily get an estimate of the EMI for a given loan amount, tenor and interest rate. It only requires a few basic inputs to provide the accurate result. You can adjust the values any number of times to determine a loan amount that fits your budget and choice. Here are some of the benefits of using our ​​online Home Loan calculator​.​​​​

Easy, Quick and Accurate Calculation of EMIs

Simply enter the loan amount, interest rate, processing fee (if applicable), and tenor, and the housing loan EMI calculator will take care of the computation.

Get a Breakdown of Finance Charges

The tool provides a clear understanding of financial charges such as total interest payable and processing fee value, which are usually presented as a percentage of the loan amount. Knowing the actual value can help determine the true cost of the loan.

Helps you Compare and Pick the Ideal Tenor

A housing loan calculator can be used to compare loan offers from various banks. It displays the total cost of each loan and their respective EMIs, making it easier to identify the most feasible option. Knowing your EMI from the calculator can help choose the right tenure of the loan. A higher EMI means a shorter loan period and early loan repayment. A more comfortable EMI means a longer loan period.

Validates Information

Repayment table details from the Home Loan calculator can help validate the repayment schedule provided by the bank. However, keep in mind that lenders may include other fees and charges in the EMI calculation.

Assists in Planning your Repayment Schedule

The calculator can help revisit financials and see how prepayments can help pay off the loan before the term ends.

Can be Used to Calculate from Anywhere

The Home Loan EMI calculator online, lets you calculate on the go with just an internet connection.

How does EMI calculation help with home purchase planning?_WC

How does EMI Calculation Help with Home Purchase Planning?

EMI calculations in advance can greatly help with your financial planning. When you expect a certain fixed outgo every month, you are in a better position to plan your daily, monthly, and yearly expenses and think over the feasibility of high-ticket purchases.

Here are 3 of the direct benefits of using a housing loan EMI calculator that can simplify your life.

It Can Help You Decide the Maximum Possible Loan Amount

The maximum loan amount you are eligible for is based on various factors such as your income, credit score and the value of the property. However, even if you become eligible, it is not always the best decision to avail maximum loan as it might mean higher EMIs than you can practically sustain. An online EMI calculator for Home Loan lets you input various loan amounts with the rate of interest and instantly calculates the EMIs you would need to pay out monthly. With its help, you can do reverse engineering by simply sliding the EMI bar to choose the figure you find practical – and accordingly your principal loan amount will be shown.

You Can Choose the Right Tenor

One way to minimize your EMIs is to spread them over a maximum loan tenor you are eligible for. This way, you can avail of a high loan amount without pinching your pockets every month. But the catch here is, this will increase your total interest outgo. Note that the choice of tenor is not always the borrower’s, and they can sometimes be compelled to choose tenor based on other variables.

You Can Plan to Prepay

Prepaying your loans will make you debt-free sooner. As liberating and empowering as it may sound, it is barely practically possible – unless you have planned well in advance. Again, a housing loan EMI calculator comes in handy in planning your prepayments.


What Factors Affect Your Home Loan EMI?

​Your Home Loan EMI is dependent on the principal amount, interest rate, and loan tenor. Use our Home Loan Eligibility Calculator  to know how much you can borrow based on your monthly income and fixed obligations. Here is a more detailed look into the key parameters:

Home Loan Principal

This is the amount that the borrower is sanctioned, at the time of borrowing the Home Loan. The size of the principal is directly proportional to the individual’s EMI amount, higher the Home Loan amount, higher the EMI.

Home Loan Interest Rate

This is the rate of interest at which a borrower repays the Home Loan amount; essentially the cost of borrowing a Home Loan. High interest rates translate to higher EMIs.

Home Loan Repayment Tenor

This refers to the duration of your Home Loan, or the time you take to repay the full repayment amount – which includes both the Home Loan principal and interest. A longer tenor can help with smaller EMIs, but the total interest compounding on your Home Loan will be higher.

Common mistakes to avoid when using a Home Loan EMI Calculator_WC

Common Mistakes to Avoid When Using a Home Loan EMI Calculator Online

Buying a home may be an emotional decision, but the amount you spend on purchasing it should be a practical one. With the availability of Home Loans, arranging for funds should not be a problem, what could be though is weighing your EMIs. If you are not using the online EMI calculator tool despite its free and easy availability – you are probably not doing it right. And if you are already well aware of the easy Home Loan interest calculator tool but don’t know how to correctly use it, then here’s a quick look at all the possibilities where you can go wrong.

Entering Incorrect Inputs

Not entering the correct numbers is a common mistake one can make. Usually, you have to input fields such as the Loan Amount, Tenor and Interest Rate. For correct results, you should be clear about all of them.

Not Considering Other Additional Costs

You may note that availing a loan involves various monies besides the EMI and the loan amount such as processing fees, insurance fees, stamp duty and registration charges, legal assessment fees, and so on. It is wise to clear all your doubts with your representative lender at the time of loan application.

Not Comparing Different Loan Offers

Your credit score has a major say in the rate at which you are granted a loan. Hence, mere ROI comparison with multiple lenders may not provide you with significant differences in your savings. However, you may look out for festive offers as these are the times when the rates fall by a few dips.

What are Flexible and fixed Home Loan EMIs?_WC

What are Flexible and Fixed Home Loan EMIs?

EMI stands for Equated Monthly Instalment, which is the amount of money you need to pay to your lender every month to repay your Home Loan. There are two types of EMI options available for a Home Loan: flexible and fixed housing loan EMI.

Flexible EMI:

Flexible EMIs are those where the amount of EMI fluctuates based on the market interest rates. In this type of EMI, the ​​Home Loan interest rates are linked to a benchmark rate such as the repo rate, which can change over time. As a result, the EMI amount may increase or decrease depending on the interest rate fluctuations. However, your loan tenor will remain the same.

Fixed EMI:

Fixed EMIs are those where the EMI amount remains the same throughout the loan tenor, irrespective of any changes in the market interest rates. This provides you with the assurance that your EMI amount will not change for a fixed period of time.

What are the Tax Benefits of Paying Home Loan EMIs? _WC

What are the Tax Benefits of Paying Home Loan EMIs?

As per the India Income Tax Act, you can claim Home Loan tax benefits on both principal and interest repayment.

  • Section 80C: Principal repayment (including registration fee and stamp duty), up to Rs.1.5 Lakh
  • Section 24B: Interest repayment, up to Rs.2 Lakh
  • Section 80EE: Additional interest, up to Rs.50,000

In case of a joint Home Loan, both homeowners can claim their Home Loan tax benefits separately.

*Terms and conditions apply.

Disclaimer_WC HL EMI


This calculator is provided for general information purposes and only as general self-help planning tool. It should not be considered as financial advice. The results obtained from the calculator are estimates based on your inputs and may not reflect the actual terms or conditions of any loan. Users are responsible for verifying the accuracy of the calculator. Actual loan figures may vary based on specific loan products, interest rates, individual financial circumstances, and parameters laid down by Bajaj Housing Finance Limited (‘BHFL’).

By using this calculator, the Users agree that placing reliance on the aforementioned information shall always be the sole responsibility and decision of the User and the User shall assume the entire risk of any use made of this information. In no event shall BHFL or the Bajaj Group, its employees, directors or any of its agents or any other party involved in creating, producing, or delivering this Website shall be liable for any direct, indirect, punitive, incidental, special, consequential damages (including lost revenues or profits, loss of business or loss of data) or any damages whatsoever connected to the User’s reliance on the aforementioned information.

Home Loan EMI Calculator: FAQs_WC

Frequently Asked Questions

EMI, or Equated Monthly Instalment, is the monthly amount you pay to repay your loan by the end of the tenor. Its amount depends on the applicable Home Loan interest rate, the principal amount, and the loan tenor. To know your Home Loan EMI, use the EMI calculator.

The Home Loan EMI Calculator, as the name suggests, is a tool you can use to calculate your Home Loan EMIs. Based on the values entered for the Home Loan principal amount, interest rate, and tenor, the calculator displays the EMI you must pay each month.

The housing loan EMI calculator available on the Bajaj Housing Finance website is simple to use. All you have to do is enter the loan amount in rupees, the annual interest rate, and the loan term in years. In real time, your EMIs will be calculated and displayed along with additional details such as the total interest outgo and the principal amount.

The Home Loan amortization schedule is a table of EMI payments scheduled to be paid over your tenor. It indicates the interest and principal break-up of each instalment from the start to the end of the tenor. In the amortization table, while the EMI remains constant, the interest component decreases and the principal component increases as the tenor progresses. Apart from the opening and closing balance, one can also infer the total interest and principal paid and the interest and principal paid yearly. You can use a housing Loan calculator that offers an amortization schedule to view your EMI break-up across the tenor.

Generally, your Home Loan EMI payments begin in the month after the disbursal. In case a moratorium is agreed upon, the Home Loan EMIs start after a predefined period. For under-construction properties, EMIs commence only after the final disbursement, and only the interest is to be paid till then. However, you can opt to start your EMI payments after the initial disbursal itself.

You can make a part payment several times your EMI. The amount paid goes towards reducing the outstanding loan amount and thereby reduces the net interest payable. Use the Home Loan Prepayment Calculator to view your EMI and tenor savings.

Pre-EMI consists only of the interest component of the Home Loan repayment amount. Your actual EMI which consists of both interest and principal amount begins once the entire Home Loan amount is disbursed.

​As a thumb rule, your Home Loan EMI should be less than 35% to 40% of your net monthly income. This is because you may need the rest of the money to cater to other daily expenses.

The simplest way to reduce your EMI would be to avail of a lesser amount as loan and make the maximum down payment, as much as possible. Another way to reduce your EMI is by increasing your loan tenor. This way, your monthly EMI will decrease but your total interest outgo will increase. Finally, having a good credit score can make you eligible for lower rates of interest and potentially, lesser EMI amounts.

Yes, you can pay 2 or more EMIs at once - the extra paid amount will be considered as prepayment and will be adjusted in your outstanding balance. Now, the new EMI will be calculated using the new remaining balance.

To change your EMI due date, you may submit a request by writing an email to Note that the interest component of your EMI would vary for the immediate next EMI as per the revised due date.

A default of 90 consecutive days is categorized as a major default and the lender may send recovery agents as a last resort to recover the loan amount. The lender issues a notice at day 60 before tagging the account as NPA (Non-performing Asset). Besides this, penalties can also be levied for the missed payments.

To understand which is better, let us understand each of them individually. A pre-EMI is a facility where you pay only the interest component of the EMI if you have purchased an under-construction property. Usually, the amount is being disbursed in stages according to the completion of the under-construction project. You pay EMIs only for the amount being disbursed until a time comes when the construction is complete, and the entire amount is disbursed.

A full EMI on the other hand is the actual EMI you pay on the entire loan amount – regardless of the construction stage your property is at. The advantage of pre-EMI is that you can manage your rent and EMIs better together until you get possession of your property. The advantage of full EMI is that you get clear of the loan soon and you do not have to pay any extra amount as interest.

Part prepayment is a facility which allows you to repay your housing loan in parts before the completion of your loan tenor. The major benefit of part-prepayment is the reduction in interest outgo since the interest component is highest during the initial stage of the Home Loan. It also reduces your loan tenor by a few to several months.

Home Loan EMI Calculator_Related Articles_WC

Home Loan EMI Calculator_PAC

People Also Consider

Current Home Loan Interest Rate


Emi Calculator For Home Loan


Check You Home Loan Eligibility


Apply Home Loan Online



P1 CommonOHLExternalLink_WC

Apply Online For Home Loan
Online Home Loan

Instant Home Loan approval at just

Rs. 1,999 + GST*

Rs.5,999 + GST
*Non Refundable



Pre-Approved Offer