A Mortgage Calculator helps you estimate the monthly EMI (Equated Monthly Installment) for your home loan, along with the total interest payable and the complete repayment amount. This tool is especially useful when you're planning to buy a house or refinance your existing loan in India.
EMI is calculated using the following standard formula:
EMI = [P × r × (1 + r)n ] / [(1 + r)n – 1]P = Principal Loan Amountr = Monthly Interest Rate (Annual Rate ÷ 12 ÷ 100)n = Total Loan Duration in Months📘 Example Calculation Suppose you take a loan of ₹50,00,000 at 8% annual interest for 20 years:
Monthly Interest Rate (r) = 8 / 12 / 100 = 0.006666 Tenure in months (n) = 20 × 12 = 240 Calculated EMI = ₹41,822 approx Total Interest Payable ≈ ₹50,37,280 Total Amount Repaid = ₹1,00,37,280 The pie chart visually represents how your monthly EMI payments are split between:
Principal: The actual loan amount you borrowedInterest: The cost of borrowing from the bank📑 Amortization Table The amortization schedule shows how each EMI reduces your outstanding loan balance:
Initial EMIs cover more interest, less principal Later EMIs cover more principal, less interest Useful for part-prepayments and loan planning Choose a shorter tenure if affordable – reduces total interest Compare interest rates from multiple lenders before applying Use part-prepayment options to reduce tenure or EMI Opt for floating interest rate if rates are expected to drop Use balance transfer if another bank offers better rates Our calculator is designed for Indian home buyers and loan planners. Use it to:
Estimate your monthly financial burden with accurate EMI Plan prepayments and early loan closures Compare loan tenures and interest rates Visualize your repayment strategy before committing