Home Loan EMI Calculator
Loan EMI
₹
Total Interest Payable
₹
Total Payment (Principal + Interest)
₹
=> How Home Loan EMI Calculator Works:
Home Loan EMI Calculation is totally dependent on the 3 parameters given below:
- P : The loan amount or principal.
- R : The interest rate per month (if the interest rate per annum is 11%, then the rate of interest will be 11/(12 x 100)).
- N : The number of monthly installments.
The mathematical formula for calculating Home Loan EMIs is: EMI = [P x R x (1+R)^N]/[(1+R)^N-1] this formula is very complex so calculation of the EMI by hand is a complex, tedious and error prone task, whereas by using our EMI calculator any one can calculate and adjust the Home Loan EMI according to their requirement.
=> How to use the Home Loan EMI Calculator:
Now I will describe how you can use the EMI Calculator, for calculating the Home Loan EMI just enter the following information in the EMI Calculator:
- Put the Principal value, loan amount for Home Loan how much you need in rupees.
- Monthly or Yearly Loan term.
- Percentage or Rate of interest
You can also use the value slider to adjust the values in the EMI calculator. For precise values, you can type the values directly in the boxes provided there in the calculator. As soon as the values are changed using the slider (or hit the 'tab' key after entering the values directly in the input fields), EMI calculator will re-calculate your monthly payment EMI amount.
