Housing Loan EMI Calculator

Buying a house is not that easy as it requires hefty funds that most people don’t have. Thus, people typically choose a housing loan when making plans to buy a property. A housing loan enables you to buy a home by borrowing money from a bank or other non-banking financial organization and then repaying the loan over a specific amount of time in payments. Furthermore, the principal or loan amount, the loan tenure, and the interest rate are just a few of the variables that go into calculating the installment payments, sometimes referred to as equated monthly installments (EMIs). Using the housing loan EMI calculator from freeemicalculator.in, you can estimate the monthly EMI payments for the loan duration.

Also, housing is often synonymized as “loan against property” or “mortgage loan.” This secured loan is approved against the borrower’s commercial or residential property. Also, until the loan is fully repaid, the lender or financial institution keeps the property as collateral. Mortgage loans are available to both salaried and unemployed people. But evaluating the total loan value and the monthly payments is also crucial to determine your affordability to get that loan.

Housing Loan EMI Calculator

What is a Housing Loan EMI Calculator?

A house loan or a mortgage loan EMI calculator is an online self-help tool that assists people in estimating their monthly EMI payments. Furthermore, the calculator computes the monthly EMI payments by factoring in the loan components, including the principal amount, the loan term, and the interest rate. Anyone who’s planning to take out a mortgage or a home loan should use this tool since it will assist them in comprehending the financial commitment they are making. Additionally, it is similar to most online calculation tools provided by various banks and other financing organizations. 

How does an EMI Calculator for Housing Loans work?

A housing loan EMI calculator operates on a straightforward calculation algorithm. A mathematical formula is used to determine the EMI installments based on the loan amount, loan term, and interest rate. Here is the calculation’s methodology:

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



Total EMI payable each month


The total tenure in months


The rate of interest payable every month


Determines the principal amount

For instance, let’s say you apply for a housing loan of INR 40 lakhs for a period of 12 years at an interest rate of 7% annually. Here’s how you can evaluate your EMI using the housing loan EMI calculator:


Step 1: First, enter the loan or principal amount (INR 40 lakhs), the loan tenure (12 years), and the applied rate of interest (7%) in the EMI calculator.

Step 2: The calculator will calculate your monthly equated installments, which in this case, is INR 41,135.

Step 3: Users may also check the total interest payable over the loan period, which in this case, is INR 19,23,475.


Here is a breakdown of your EMI payments in an amortization table form. Additionally, it shows the principal and interest components separately for the loan that you have applied for.



Principal (A)

Interest (B)

Total (A + B)



₹ 2,01,634

₹ 2,50,854

₹ 4,52,488

₹ 37,98,366


₹ 2,35,188

₹ 2,58,435

₹ 4,93,623

₹ 35,63,179


₹ 2,52,190

₹ 2,41,433

₹ 4,93,623

₹ 33,10,989


₹ 2,70,420

₹ 2,23,203

₹ 4,93,623

₹ 30,40,569


₹ 2,89,969

₹ 2,03,654

₹ 4,93,623

₹ 27,50,600


₹ 3,10,931

₹ 1,82,692

₹ 4,93,623

₹ 24,39,669


₹ 3,33,408

₹ 1,60,215

₹ 4,93,623

₹ 21,06,261


₹ 3,57,510

₹ 1,36,113

₹ 4,93,623

₹ 17,48,750


₹ 3,83,355

₹ 1,10,268

₹ 4,93,623

₹ 13,65,396


₹ 4,11,067

₹ 82,555

₹ 4,93,623

₹ 9,54,328


₹ 4,40,784

₹ 52,839

₹ 4,93,623

₹ 5,13,545


₹ 4,72,648

₹ 20,975

₹ 4,93,623

₹ 40,897


₹ 40,897

₹ 239

₹ 41,135

₹ 0

Benefits of using our Housing Loan EMI Calculator

There are plenty of benefits to using the Free EMI Calculator’s EMI calculator for housing loans. The most important ones are listed below:

  • Accurate Estimates: Anyone can easily manage their budget by using a housing loan EMI calculator to get accurate estimations of their monthly EMI payments. When you know the amount beforehand, then you can determine your affordability along with your resources for repayment. 
  • Simple to Use: The calculator is simple to use, and you can quickly determine your expected EMI payments. Simply input the variables, and you’ll have your EMI amount in a matter of seconds.   
  • Make Wise Decisions: Understanding your EMI payments might help you avoid financial problems by enabling you to make educated decisions on the loan amount and tenure. Precaution is better than cure; thus, plan smartly to avoid any possible debt trap.  
  • Saved Time: You can easily determine your monthly EMI payments using our housing loan EMI calculator instead of doing the calculation by hand, saving you time and effort. Plus, these calculations are complex and error-prone when done manually. 

A housing loan EMI calculator is a crucial self-assisting tool for anyone considering taking out a home loan or mortgage. It offers precise results of your monthly EMI payments, assisting you in budgeting and making decisions regarding the size and term of your loan. Therefore, anyone wanting to buy a home will find the calculator useful because it is simple to use and saves time.