EMI (Equated Monthly Instalment) is the fixed amount you repay each month towards your home loan. Each EMI includes a portion of the principal borrowed and the interest charged by the lender for that period.

Home loans are secured against the property you purchase or construct. Lenders assess your income, credit score, property value, and repayment capacity before sanctioning the loan. Knowing your EMI in advance helps you plan your budget and avoid over-borrowing.

A home loan EMI calculator is an online tool that estimates your monthly repayment based on the loan amount, interest rate, and tenure you enter. It uses the standard reducing-balance formula to show how much you will pay each month and over the full loan term.

Instead of manual calculations or spreadsheets, you can adjust sliders and amount chips to compare scenarios instantly — helping you plan your budget and evaluate offers from different lenders before you apply.

Using a home loan EMI calculator is simple. Follow these steps:

• Select your bank or housing finance provider
• Choose your loan purpose (purchase, construction, or balance transfer)
• Enter the loan amount
• Enter the interest rate
• Enter the loan tenure

Once all details are entered, the calculator will display your estimated EMI and loan summary.

Note: The actual EMI may vary based on the final interest rate, processing fees, and terms offered by your lender.

An amortization schedule is a month-by-month breakdown of how each EMI is split between principal repayment and interest. In the early months, a larger share goes toward interest; as the outstanding balance reduces, more of each EMI goes toward principal.

Example: If a borrower takes a home loan of ₹50,00,000 at an interest rate of 9.25% p.a. for a tenure of 20 years, the EMI would be approximately ₹45,793. The schedule below shows how the first 12 months are allocated.

Note: The schedule provided is of the first 12 months. The actual amortization schedule for your loan may vary based on the lender's calculation method, processing fees, and prepayments.

Latest home loan interest rates by top banks are mentioned in the table below:

Understanding the factors that impact your home loan EMIs can help reduce your cost of credit. Key factors include home loan interest rates, loan amount, tenure, and processing charges.

• Loan Amount: Higher the amount borrowed, higher will be your EMI (as long as the tenure and interest rate remain the same).
• Interest Rate: Higher home loan interest rates lead to higher EMIs and a costlier loan repayment over the tenure.
• Tenure: Opting for a longer tenure will reduce your EMI burden, but will increase the overall interest cost on your home loan.
• Loan Type: Processing fees vary for home purchase, construction, and balance transfer loans — affecting the net disbursed amount.

• Make a larger down payment: A higher down payment reduces the principal borrowed, which lowers both EMI and total interest.
• Choose a shorter tenure if affordable: A shorter tenure increases EMI but significantly reduces total interest payable.
• Make part prepayments whenever feasible: Contributing extra towards the principal reduces your outstanding balance and interest obligation.
• Opt for balance transfer: Transferring to a lender with a lower interest rate can reduce both EMI and total cost of loan.

• For fixed-rate home loans, the EMI generally remains the same throughout the tenure.
• For floating-rate home loans, EMIs can change when the lender revises the interest rate due to RBI repo rate changes or internal policy updates.
• Prepayments or changes in loan tenure may also affect your EMI amount.

• Missing an EMI may attract late payment fees and penal interest from the lender.
• It can impact your credit score, making future loans more expensive or difficult to obtain.
• Prolonged non-payment may lead to legal action or property recovery proceedings by the lender.

Our home loan EMI calculator helps you compare EMIs across multiple lenders in one place. Select your preferred bank, enter the loan amount, interest rate, and tenure — and get instant results alongside a detailed loan summary.

When you select a bank from the list, the calculator automatically pre-fills the lender's starting interest rate. You can adjust it to compare how different rates affect your monthly EMI, then scroll down to explore live offers from partner banks.

The tables below show indicative monthly EMIs for a ₹50 lakh home loan at different interest rates and repayment tenures.

Home loans in India typically follow the reducing-balance method, where interest is calculated on the outstanding loan balance each month.

In the early months of your home loan, a larger portion of your EMI goes toward interest because the outstanding principal is still high. As you repay through each EMI, the principal reduces and the interest component decreases over time.

This is why making prepayments in the early years of your home loan can save significant interest over the loan tenure.

1. 1Step 1: Visit the Bikesh Finserv website and open the Home Loan section.
2. 2Step 2: Enter your required information and verify your phone number and email address.
3. 3Step 3: Use the EMI calculator above to estimate your monthly repayment.
4. 4Step 4: Select your income range and employment type (e.g. salaried or self-employed).
5. 5Step 5: Choose from the displayed list of curated home loan offers and apply online.

Home loan EMI can be calculated manually using the standard reducing-balance formula:

EMI = [P × R × (1 + R)^N] / [(1 + R)^N − 1]

Where —

• P = Loan Amount
• R = Monthly Interest Rate (Annual rate ÷ 12 ÷ 100)
• N = Loan Tenure (in months)

Manual calculations can be tedious and prone to errors. Using an online home loan EMI calculator is easier and faster — giving you accurate results instantly as you adjust loan amount, rate, and tenure.