How to Use Our Mortgage EMI Calculator (Step-by-Step Guide)

Using our home loan calculator is simple and takes less than 60 seconds:

1. Select Loan Type: Choose Purchase or Refinance
2. Select Currency: Choose from 10 global currencies
3. Enter Property Details: Input the property cost and your down payment amount
4. Set Loan Parameters: Adjust loan amount, interest rate, and tenure using sliders or direct input
5. Choose Tenure: Select from preset options or choose "Custom Tenure" to enter any duration
6. Click Calculate: Get instant results with EMI, total interest, and payment schedule
7. Explore Tabs: Switch between breakdown, amortization, charts, and affordability
8. Export Results: Download PDF report for documentation

Pro Tip: Use the range sliders to see how small changes in interest rate or tenure affect your monthly EMI. Even a 0.25% reduction in interest can save you lakhs over 20 years!

Understanding Your Mortgage EMI Calculation

The EMI (Equated Monthly Installment) is calculated using the formula:

EMI = P × r × (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

Benefits of Using Our Advanced Mortgage Calculator

1. Financial Planning Made Easy

Know exactly how much house you can afford before approaching banks. Our affordability calculator considers your income, existing EMIs, and bank guidelines to suggest realistic loan amounts.

2. Compare Multiple Scenarios

Test different interest rates from SBI, HDFC, ICICI, and Axis Bank to find the best deal. See how tenure affects your EMI and total interest payout.

3. Prepayment Strategy

Planning to make extra payments? Our prepayment calculator shows exactly how much you'll save in interest and how many months you'll reduce from your tenure.

4. Professional Documentation

Generate bank-ready PDF reports with your complete amortization schedule, perfect for loan applications and financial planning.

5. Custom Tenure Flexibility

Our unique custom tenure option allows you to calculate EMI for any loan duration between 1-40 years, giving you precise control over your financial planning.

Current Home Loan Interest Rates in India (November 2025)

As of November 2025, home loan interest rates range from 8.25% to 9.75% depending on your credit score, employment type, and bank relationship. Salaried individuals with CIBIL scores above 750 typically get the best rates.

Frequently Asked Questions (FAQ)

What is the ideal loan tenure for minimum interest?−

Shorter tenures mean less total interest but higher EMI. For most borrowers, 15-20 years strikes the right balance between affordability and interest savings. Use our calculator to compare different tenures.

How much home loan can I get on ₹1 lakh salary?−

Banks typically allow EMI up to 50-60% of your net monthly income. On ₹1 lakh salary, you can get a loan of ₹60-75 lakhs depending on your existing obligations and credit score.

Is this calculator accurate for all Indian banks?−

Yes! Our calculator uses the standard EMI formula accepted by all banks in India including SBI, HDFC, ICICI, Axis, PNB, and others. The results are mathematically precise.

Can I include processing fees in the calculation?−

Absolutely! Our tool automatically adds 0.5-1% processing fee to show the true cost of your loan. You can also see the effective interest rate including all charges.

How does prepayment affect my home loan?−

Prepayment reduces your principal, which lowers future interest calculations. Even ₹10,000 extra paid annually can save you ₹2-3 lakhs in interest over 20 years.

Can I calculate EMI for non-standard loan tenures?−

Yes! Our custom tenure option allows you to enter any loan duration between 1-40 years. This is perfect for calculating EMI for non-standard loan periods or when you want to pay off your loan faster.

Why Choose Our Mortgage Calculator?

With over 50,000 monthly users, our tool has helped Indians save ₹500+ crores in unnecessary interest payments. Whether you're buying your dream home in Mumbai, Delhi, Bangalore, or any tier-2 city, our calculator adapts to your needs.

Start planning your home purchase today with India's most trusted mortgage calculator!