Free Home Loan EMI Calculator 2025 - Calculate Monthly Payments & Interest

EMI Breakdown

Monthly EMI

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Total Interest

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Total Payment

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Amortization Schedule

Year	Principal	Interest	Balance
Enter loan details to see amortization schedule

Frequently Asked Questions

Get answers to common questions about home loan EMIs and calculations

What is a Home Loan EMI?

EMI (Equated Monthly Installment) is the fixed amount you pay each month towards your home loan. It consists of both principal repayment and interest payment. The EMI amount remains constant throughout the loan tenure, but the proportion of principal and interest changes over time.

How is EMI calculated?

EMI is calculated using the formula: EMI = [P x R x (1+R)^N] / [(1+R)^N-1], where:
• P = Principal loan amount
• R = Monthly interest rate (annual rate ÷ 12 ÷ 100)
• N = Loan tenure in months

What factors affect my EMI amount?

Three main factors affect your EMI:
1. Loan Amount: Higher principal = Higher EMI
2. Interest Rate: Higher rate = Higher EMI
3. Loan Tenure: Longer tenure = Lower EMI (but more total interest paid)

Should I choose a longer or shorter tenure?

Shorter tenure: Higher EMI but less total interest paid
Longer tenure: Lower EMI but more total interest paid
Choose based on your monthly repayment capacity. Generally, opt for the shortest tenure you can comfortably afford.

Can I prepay my home loan?

Yes, most banks allow prepayment of home loans. Prepaying reduces your principal amount, which can:
• Reduce your EMI amount
• Reduce your loan tenure
• Save on total interest paid
Check with your bank for any prepayment charges or conditions.

What is an amortization schedule?

An amortization schedule is a table showing the breakup of each EMI payment into principal and interest components over the loan tenure. It helps you understand:
• How much principal you're paying off each month
• How much interest you're paying
• Your outstanding loan balance after each payment