Home Loan EMI Calculator

Calculate your monthly payment, interest rate, and loan term. Know about the benefits, features, and use of a home loan calculator

Your Loan Amount




Rate of Interest (P.A)




Loan Duration







Principal Amount


Total Interest


Total Amount


Principal Amount


If you are a home loan seeker, this calculator can be a valuable tool. It can help you estimate monthly loan repayments, and it is are easily accessible online. Before you get started with using it, though, consider taking a moment to learn about it with our quick read below.

About the home loan calculator

A home loan calculator is a financial tool. It helps home loan seekers estimate their monthly loan repayment Equated Monthly Installments (EMIs). It takes into account the loan amount, interest rate, loan tenure, and processing fees.


Home loan calculators often provide a detailed breakdown of the loan repayment schedule. Among other things, you will be able to see the principal and interest of each EMI over the loan tenure. The breakdown illustrates how their EMIs go toward reducing the principal amount and clearing off the interest.

How can a home loan calculator help you?

For first-time borrowers, calculating the EMI and its components can be a cumbersome task. A home loan EMI calculator eliminates the need for manual computation, so the calculations can be done in a jiffy. It also helps borrowers:


  • Provide precise calculations based on the loan amount, interest rate, and tenure.
  • Help assess affordability, while determining a suitable loan amount and tenure.
  • Allow comparison of different loan options based on EMIs and total interest payable.
  • Simplify evaluation process, aiding in decision-making for better loan management.

Formula to determine home loan amount

The EMI amount is determined using this formula:


E = [P x R x (1+R) ^N] / [(1+R) ^N-1]



E stands for EMI amount

P is the Principal amount

R represents the Rate of interest, and

N stands for Loan tenure.


Using this formula, you can calculate the exact EMI amount. Or you could simply use the calculator above.

What factors affect your home loan EMI?

Several factors can affect the EMI amount for a home loan. Some of the key factors that impact the EMI are discussed below.

  • Principal

The principal loan amount, which is the total amount borrowed, directly influences the EMI. A higher loan amount will result in a larger EMI, assuming other factors remain constant.

  • Interest rate

The rate of interest that the lender charges significantly affects the EMI. A higher interest rate will result in a higher EMI, while a lower interest rate will lead to a smaller number.

  • Tenure

Another important factor that impacts the EMI is the duration or tenure of the loan. A longer loan tenure usually comes with smaller EMIs. However, the overall interest paid over the loan term will be higher. Conversely, a shorter loan tenure leads to larger EMIs but reduces the total interest paid.

  • Processing fee

Some lenders charge processing fees for loan approval. These fees may be added to the loan amount or paid upfront. Including processing fees in the loan amount will increase the EMI. Paying them up front, on the other hand, does not impact the EMI directly.

  • Prepayment

The prepayment of home loan refers to when a borrower repays a sum over and above the EMI amount ahead of schedule. It reduces the outstanding principal amount of the home loan. This results in a decrease in the remaining loan tenure.

  • Down payment

The down payment amount has an impact on the home loan EMI. A larger down payment reduces the loan amount and EMI. With a smaller loan amount, the interest component also decreases, leading to savings.

  • Change of lender

Changing the lender for a house loan can have a variety of effects on the EMI. The EMI can reduce if the new lender offers a cheaper interest rate. However, extra expenses like processing fees and document delivery fees could change the total loan amount and EMI. 

What are the benefits of the home loan EMI calculator?

This EMI calculator offers numerous benefits to borrowers seeking a home loan. Let’s look at some of them.

  • Easy process

Calculating home loan details is crucial before applying. It can be time-consuming but using an online calculator makes things easier. All you have to do is enter the loan amount, interest rate, and tenure to instantly see the EMI and total interest payable. This simplifies the entire process and eliminates the need for human intervention.

  • Get the breakup of the finance charges

A home loan EMI calculator provides precise calculations of the EMI, taking into account the loan amount, interest rate, and tenure. This accuracy helps borrowers plan their finances effectively.

  • Comparing loan offers

With an EMI calculator, borrowers can compare different loan options by inputting the details of each loan. This comparison helps in making decisions and understanding the variations in EMIs and total interest payable.

  • Choosing the right tenure

Choosing the right tenure for a loan benefits borrowers in several ways. A longer tenure reduces the EMI amount, making it more affordable. However, a shorter tenure saves on interest payments. Assessing one’s financial capability and long-term goals can help in selecting the appropriate loan tenure for effective repayment management.

  • Helps in validating information

Manually calculating home loan EMIs can be time-consuming and an error-prone process. By using an EMI calculator, you can quickly obtain accurate results, This speeds up the information validation process.

  • Helps with the loan management

An EMI calculator helps with loan management in several ways. It allows borrowers to accurately determine their monthly repayment amount. This makes it an invaluable aid in budgeting and financial planning.

The calculator also provides an amortization schedule. It thus enables borrowers to track their repayment progress and understand the distribution of principal and interest components over time. This, too, promotes effective loan management.


In conclusion, a home loan EMI calculator is a valuable tool for borrowers. It simplifies complex calculations and provides accurate results. Doing so, it helps borrowers make informed decisions, plan their finances, and evaluate different loan options. The calculator also facilitates effective budgeting and loan management. All of this makes it an essential resource for prospective home buyers.


1.How can I calculate my home loan EMI?

The simple answer is: Just use our calculator above. Alternatively, you could learn how to calculate home loan EMIs with this formula: E = [P x R x (1+R) ^N] / [(1+R) ^N-1] For more information, read the article above.

2.Why use the online home loan EMI calculator?

There are several reasons to use an online home loan EMI calculator. It is easy to use and provides accurate EMIs calculation quickly. It helps in validating information, comparing loan offers, and understanding the impact of different parameters on the EMI.

3.How many times can you use the calculator?

The Lemonn home loan EMI calculator can be used as many times as you need to. Available for unlimited use, it helps evaluate different loan options.

4.Is the home loan EMI amount fixed?

Yes, the home loan EMI amount is typically fixed for the loan tenure. However, various factors, such as the loan amount, interest rate, and loan tenure, affect the EMI. So changes to any of these factors can result in a modification of the EMI amount.

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