Home loan EMI calculator
Calculate estimated monthly home loan payments, total repayments and interest using a fixed annual rate.
EMI Calculator
Enter valid amounts and a time period to see your estimate. Amounts must be non-negative; rates and periods must stay within the limits shown by each field.
Estimates use your inputs in one currency; selecting another currency changes the unit, without converting amounts. Buyability uses your chosen share of income and is not lender approval. Rent vs Buy compares home equity minus down payment, loan payments and maintenance against investing the down payment minus rent. It excludes taxes, transaction costs and investing monthly cash-flow differences.
How the calculation works
EMI means equated monthly instalment. This model uses equal monthly payments and a fixed rate throughout the term. At zero interest, the monthly payment is simply the principal divided by the number of months.
Formula
Monthly payment = P × r / (1 − (1 + r)^−n), where P is principal, r is annual interest / 1200, and n is the number of months.
Worked example
A loan of 120,000 over 10 years at zero interest produces 120 monthly payments of 1,000. Change the rate to see how interest changes the repayment total.
What the estimate leaves out
The model excludes origination fees, insurance, taxes, rate resets, irregular payment schedules and early repayments. Your lender may use different conventions.