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Home Loan Starting 6.75%*


Home Loan Calculator – Calculate your Housing Loan EMI

A home loan EMI calculator is a tool you can use to calculate your home loan EMI easily and instantly. Bajaj Housing Finance Limited offers Home Loans up to Rs.3.5 crore at attractive interest rates, and for flexible tenors ranging up to 30 years. With a home loan calculator, you can know within moments how your principal, interest rate, and tenor affect your home loan EMI. Simply enter values in the relevant fields or use the sliders to generate results.

The housing loan EMI calculator will help you select the right tenor, ideal loan amount, and settle on an EMI that your budget can afford. For repayment planning, the house loan calculator is an indispensable tool. With it you can select the best home loan and be on course to meeting your housing dreams quickly!


Loan Amount


Rate of Interest


Loan EMI


Total Interest payable

Rs. 10,15,990

Total Payment (Principle + Interest)

Rs. 50,51,552


Total Interest


Principle Amount

What is Home Loan EMI Calculator?

The home loan EMI calculator is a tool you can use to calculate your housing loan EMI. Based on the values entered for the principal, interest rate and tenor, the home loan EMI calculator displays the EMI you must pay each month.

A housing loan EMI calculator is an online financial tool that helps home loan borrowers check their equated monthly instalments. Enter your loan details, such as loan principal, tenure and rate of interest to determine your EMIs and other pertinent details.

What is Home Loan EMI?

EMI stands for Equated Monthly Instalment. It is the monthly amount you pay to clear your loan by the end of the tenor. It is dependent on the housing loan interest rate  and principal amount. To know your EMI, use a housing loan EMI calculator.

What are the Factors that Affect Housing Loan EMI?

Your home loan EMI is determined by the principal, interest rate, and tenor. The principal is the loan amount, and to know how much you can borrow as per your monthly income and fixed obligations you can use a home loan eligibility calculator. The tenor refers to the number of months over which you will pay EMIs, and the housing loan interest rate is the rate offered to you by the lender. You can see the relationship between the EMI, principal, interest rate, and tenor through the EMI 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)

When you use a home loan EMI calculator online, the tool uses this formula to display your EMI instantly and accurately. Your EMI is also impacted when you make a part-prepayment and opt to reduce your subsequent EMIs.

What is a home loan amortization schedule?

A home loan amortization schedule is a complete table of EMI payments, from start to the end of the tenor, that shows the interest and principal break-up of each instalment. In the amortization table, the EMI remains constant, but the interest component decreases as the tenor progresses and similarly, the principal component increases. From this table you can also infer the total interest and principal paid and the interest and principal paid yearly, alongside the opening and closing balance. You can use a house loan calculator that offers an amortization schedule to view your EMI break-up across the tenor.

Year Opening Balance EMI*12 Interest Paid Quarterly Principal Paid Yearly Closing Balance
1 25,00,000 2,30,792 1,70,621 60,172 24,39,828
2 24,39,828 2,30,792 1,66,335 64,457 23,75,371
3 23,75,371 2,30,792 1,61,744 69,048 23,06,323
4 23,06,323 2,30,792 1,56,826 73,996 22,32,357
5 22,32,792 2,30,792 1,51,558 79,234 21,53,122
6 21,53,122 2,30,792 1,45,915 84,878 20,68,244


How does home loan EMI repayment reduce tax obligations?

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 80EEA: Additional interest, up to Rs.1.5 lakh
  • Section 80EE: Additional interest, up to Rs.50,000 

In case of a joint home loan, the joint homeowners can claim their home loan tax benefit separately. So, as you use an online home loan calculator to view your EMI and amortization schedule, review the conditions for qualifying for a home loan tax benefit under the relevant sections and plan your taxes for the year.

Can I pay Home Loan EMI in advance?

You can make a part-prepayment that is several times your EMI. The prepayment would go towards reducing the outstanding loan amount and thereby, reduce your net interest payment. You can use a home loan part-prepayment calculator , to view your EMI and tenor savings.

When Does Home Loan EMI Begin?

Generally, your home loan EMI payments begin in the month subsequent to the disbursal. In case a moratorium is agreed upon, the home loan EMIs would start after a predefined period. For under-construction properties, EMIs may commence only after the final disbursement and only interest is to be paid till then; however, you could opt to start your EMI payments after the initial disbursal itself.

Is Home Loan EMI Rate Different for Women?

Often there are concessional rates for women applicants/co-applicants who are homeowners/co-homeowners. In such a case, you can use the home loan interest calculator, adjust the interest rate as per the discount, and view your new EMI. Making the most of such schemes can help you get the lowest EMI home loan.


What are the Advantages of Using Home Loan EMI Calculator?

There are several advantages to using a home loan calculator (India). A home loan calculator:

  • Shows you your EMI accurately
  • Displays the EMI instantly
  • Can be used online from anywhere
  • Helps you pick the ideal tenor
  • Helps you decide upon the loan amount (principal)
  • Assists in repayment planning
  • Makes it easy for you to compare loans

Also, if the housing loan interest calculator shows you your amortization schedule and your annual interest and principal break-up, you can plan your taxes for the year with the data provided. Similarly, based on the EMI, you will know if taking a home loan is feasible or not, keeping in mind your current debt-to-income ratio. Once you have arrived at a favourable EMI structure, you can check the eligibility criteria and proceed to keep ready the documents required for home loan.

What is the EMI for 20 lakhs home loan?

For a home loan of Rs.20 lakh, your EMI would vary as per the interest rate and tenor. You can forecast your EMI with a home loan instalment calculator.

Interest rate 10-year loan 15-year loan 20-year loan
8% 24,266 19,113 16,729
9% 25,335 20,285 17,995
10% 26,430 21,492 19,300


What is the EMI for 15 lakhs home loan?

For a home loan of Rs.15 lakh, you can compute your EMI by entering values for the interest rate and tenor into the home loan calculator.

Here are sample EMI values.

Interest rate 10-year loan 15-year loan 20-year loan
8% 18,199 14,335 12,547
9% 19,001 15,214 13,496
10% 19,823 16,119 14,475


What is the EMI for 40 lakhs home loan?

You can enter into a loan calculator, home loan amount, interest rate, and tenor to know the EMI for a home loan of Rs.40 lakh.

Interest rate 10-year loan 15-year loan 20-year loan
8% 48,531 38,226 33,458
9% 50,670 40,571 35,989
10% 52,860 42,984 38,601