Home loan EMI calculator

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From the property price and your down payment: loan amount, loan-to-value, EMI and the total cost including fees.

Your own money towards the price; the rest is the loan.

The rate offered to you. Finobazaar does not fill in a lender's rate.

Numbers only; commas are fine. Tenure up to 40 years (480 months).

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From the property price to the EMI

The loan is the price minus your down payment. The calculator shows the loan-to-value (loan ÷ price), the EMI on a reducing balance, the total interest, and the total cost of the home: down payment, every EMI and the fees you enter.

Loan = price − down payment; EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1)

What changes the result

  • A longer tenure lowers the EMI but raises the total interest.
  • A larger down payment lowers the loan, the EMI and the interest.
  • Most home loans have a floating rate, so the EMI or tenure changes when the rate changes; the calculator assumes the rate you enter stays the same.

Costs to plan for

Lenders finance only part of the price; stamp duty, registration and some other costs are usually paid from your own money. Use the stamp duty estimate for those, and ask the lender for its key fact statement, which lists every fee.

Results are worked out from the numbers you enter and are for planning only. They are not an offer, an approval or financial advice. Finobazaar does not assume any lender's rate or rules; the lender's loan agreement and its key fact statement decide the actual EMI and charges.

Frequently asked questions

Which formula does the home loan EMI calculator use?

Loan = price − down payment; EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1)
P is the loan amount, r the rate per instalment as a decimal (annual rate ÷ 100 ÷ instalments a year) and n the number of instalments.
The explanation below the calculator sets out each step and what the result leaves out.

What details do I need for the home loan EMI calculator?

You need: property price, down payment, interest rate and tenure. Optional: processing fee and other upfront charges. Take the figures from the lender's offer or key fact statement where you have one.

Does the calculator use a bank's interest rate?

No. You enter the rate offered to you. Finobazaar does not fill in a lender's rate, because rates depend on the lender, your profile and the date.

Is the result a loan offer or an approval?

Results are worked out from the numbers you enter and are for planning only. They are not an offer, an approval or financial advice. Finobazaar does not assume any lender's rate or rules; the lender's loan agreement and its key fact statement decide the actual EMI and charges.

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