Home Loan Calculator – Plan Your Mortgage Payments

This calculator estimates monthly EMI, total interest payable and total payment (principal + interest) for a home loan based on loan amount, interest rate and tenure.

The standard reducing balance EMI formula is used: EMI = P*r*(1+r)^n / ((1+r)^n - 1), where r is monthly rate and n is total months.

No — this tool models a straightforward EMI schedule without prepayments. Prepayments or part-payments will change the amortization and interest paid.

This simple calculator assumes a fixed rate for the tenure. For floating rates, periodic recalculation is needed to reflect rate resets.

Loan amount, tenure and interest rate primarily determine total interest. Longer tenure increases interest but lowers EMI; shorter tenure reduces interest but raises EMI.

No — use this as a planning tool. For tailored mortgage advice, consult a mortgage advisor or Finranite representative.

EMI is calculated using the reducing balance formula which spreads principal + interest over the loan term. The calculator shows that result immediately.

Most lenders allow prepayments; terms vary and may include charges. Prepayment reduces principal and lowers interest; contact your lender for specifics.

For floating-rate loans, EMIs or tenure can change when rates reset. This calculator assumes a fixed rate; for floating-rate planning, recalculate after rate changes.

Home loan interest and principal repayments may qualify for tax deductions under local tax laws (e.g., Sections 24/80C in India). Consult a tax advisor for eligibility.

Processing fees are typically one-time charges and are not part of EMI; they affect upfront cost, not monthly EMI unless rolled into the loan amount.

No — this tool offers estimates for planning. For exact loan schedules, refer to lender-provided amortization schedules and agreements.