IDBI Home Loan EMI Calculator
IDBI Home Loan Calculator
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IDBI Home Loan EMI Calculator Online
IDBI Bank Home Loan EMI is the fixed amount that you need to pay on a fixed date of the month till the end of repayment tenure. The amount is based on your loan amount, tenure and interest rate. You can calculate your IDBI Bank housing loan EMI in advance to plan your loan payments and expenses using a IDBI Bank home loan calculator. IDBI Bank home loan EMI calculator is an online tool that functions on a mathematical algorithm and gives accurate results without hassle.
Why should you use IDBI Bank Home Loan EMI Calculator?
IDBI Bank Home Loan EMI Calculator to estimate the EMI that fits your budget
To calculate your home loan EMI at different rates and tenure, enter different loan amounts and tenure at the eligible interest rate on IDBI Bank Home Loan EMI calculator. The below-mentioned table shows the calculation of IDBI Bank Home Loan at the various combinations of loan amount and years at the lowest rate of 7.40%. Considering this example, if you think you can afford to pay an EMI of in your budget, take an loan for 15 years or loan for 30 years, maybe the right IDBI Bank Home loan plan for you.
IDBI Bank home loan EMI is calculated for different loan amounts and tenures at 7.40% interest rate| Loan Tenure | |||
|---|---|---|---|
| Loan Amount (Rs.) | 15 years | 20 years | 30 years |
| ₹ 25 Lakh | ₹ 23,033 | ₹ 19,987 | ₹ 17,310 |
| ₹ 50 Lakh | ₹ 46,067 | ₹ 39,974 | ₹ 34,619 |
| ₹ 75 Lakh | ₹ 69,100 | ₹ 59,962 | ₹ 51,928 |
| ₹ 1 Cr | ₹ 92,134 | ₹ 79,949 | ₹ 69,238 |
Benefits of using IDBI Bank Home Loan EMI Calculator
IDBI Bank Home Loan Calculator is online and gives instant results with 100% accuracy. The best part is that you can calculate and compare multiple EMIs on different combinations of loan amount, interest rate and tenure. Thus, using IDBI Bank Home Loan EMI Calculator helps you to choose the right amount of EMI that is affordable and also decide on the right loan amount and loan tenure. Further, if you use the MyLoanCare IDBI Bank Home Loan Calculator, you have the option to receive calculated EMIs and amortization schedules for each calculation by mail which can be referred to at a later stage when you are making the final decision to take a loan.
Factors Affecting IDBI Bank Home Loan EMI
Home Loan EMI can be calculated using an online Home Loan Calculator which takes into account factors such as loan amount, rate of interest and the tenure for which you are planning to avail the loan.
If you apply for a higher loan amount, you will have to pay a higher EMI IDBI Bank gives a minimum home loan of ₹ 5,00,000 upto a maximum amount of ₹ 10,00,00,000.
Higher interest rate increases your IDBI Bank housing loan EMI which will increase the total cost of the loan. IDBI Bank current home loan interest rate starts at 7.40%. Do a complete market research and compare rates and calculate EMI online using IDBI Bank home loan calculator before you apply for a home loan.
This is the period in which you can repay your home loan in IDBI Bank. Your EMI will be lower if you take a 0 years loan from IDBI Bank as compared to a loan taken for 5 years. For a longer period, you get to pay a smaller EMI and vice-versa.
IDBI Home Loan EMI Calculator Formula
IDBI Home Loan Calculator calculates EMI based on the following formula.
P*r* (1+r)^n/([(1+r)^n]-1)
Here is an illustration of how IDBI Bank Home Loan EMI calculator formulates EMI:
In above formula,
Comparison of IDBI Bank Home Loan EMI with other Banks
| Bank Name | Interest rate | Loan Amount of ₹ 10 Lakh | Loan Amount of ₹ 30 Lakh | Loan Amount of ₹ 50 Lakh |
|---|---|---|---|---|
| IDBI Bank | 7.40% | ₹ 6,924 | ₹ 20,771 | ₹ 34,619 |
| HDFC | 6.75% | ₹ 6,486 | ₹ 19,458 | ₹ 32,430 |
| ICICI Bank | 6.75% | ₹ 6,486 | ₹ 19,458 | ₹ 32,430 |
| SBI | 6.70% | ₹ 6,453 | ₹ 19,358 | ₹ 32,264 |
| LIC Housing Finance | 6.90% | ₹ 6,586 | ₹ 19,758 | ₹ 32,930 |
| Axis Bank | 6.70% | ₹ 6,453 | ₹ 19,358 | ₹ 32,264 |
IDBI Bank Home Loan Amortization Calculator
IDBI Bank Home Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. IDBI Bank gives you a detailed amortisation schedule with the sanction letter and you can calculate the total interest outgo as well as the pace at which your loan amount will be repaid during the loan tenure.
How to read an amortization schedule
Suppose if you take a Home Loan of ₹ 25 Lakh for 25 years from IDBI Bank at an interest rate of 7.40%. EMI calculated for this loan amount is ₹ 18,312 and the total annual EMIs to be paid annually is ₹ 2,19,750. The EMI schedule of loan for 25 years is explained below in the table –
Amortization Schedule for a Home Loan of ₹ 25 Lakh over the 25 years
| Year | Interest paid during the year | Principal repaid during the year | Total amount paid during the year (Interest + Principal) | Outstanding Principal |
|---|---|---|---|---|
| 2021 | ₹ 1,07,538 | ₹ 20,650 | ₹ 1,28,187 | ₹ 24,79,350 |
| 2022 | ₹ 1,82,216 | ₹ 37,534 | ₹ 2,19,750 | ₹ 24,41,817 |
| 2023 | ₹ 1,79,342 | ₹ 40,407 | ₹ 2,19,750 | ₹ 24,01,409 |
| 2024 | ₹ 1,76,249 | ₹ 43,501 | ₹ 2,19,750 | ₹ 23,57,908 |
| 2025 | ₹ 1,72,918 | ₹ 46,832 | ₹ 2,19,750 | ₹ 23,11,076 |
| 2026 | ₹ 1,69,332 | ₹ 50,417 | ₹ 2,19,750 | ₹ 22,60,659 |
| 2027 | ₹ 1,65,472 | ₹ 54,277 | ₹ 2,19,750 | ₹ 22,06,382 |
| 2028 | ₹ 1,61,317 | ₹ 58,433 | ₹ 2,19,750 | ₹ 21,47,949 |
| 2029 | ₹ 1,56,843 | ₹ 62,907 | ₹ 2,19,750 | ₹ 20,85,042 |
| 2030 | ₹ 1,52,027 | ₹ 67,723 | ₹ 2,19,750 | ₹ 20,17,320 |
| 2031 | ₹ 1,46,842 | ₹ 72,908 | ₹ 2,19,750 | ₹ 19,44,412 |
| 2032 | ₹ 1,41,260 | ₹ 78,490 | ₹ 2,19,750 | ₹ 18,65,922 |
| 2033 | ₹ 1,35,250 | ₹ 84,499 | ₹ 2,19,750 | ₹ 17,81,423 |
| 2034 | ₹ 1,28,781 | ₹ 90,969 | ₹ 2,19,750 | ₹ 16,90,454 |
| 2035 | ₹ 1,21,816 | ₹ 97,933 | ₹ 2,19,750 | ₹ 15,92,521 |
| 2036 | ₹ 1,14,318 | ₹ 1,05,431 | ₹ 2,19,750 | ₹ 14,87,089 |
| 2037 | ₹ 1,06,246 | ₹ 1,13,503 | ₹ 2,19,750 | ₹ 13,73,586 |
| 2038 | ₹ 97,556 | ₹ 1,22,194 | ₹ 2,19,750 | ₹ 12,51,392 |
| 2039 | ₹ 88,201 | ₹ 1,31,549 | ₹ 2,19,750 | ₹ 11,19,843 |
| 2040 | ₹ 78,129 | ₹ 1,41,621 | ₹ 2,19,750 | ₹ 9,78,223 |
| 2041 | ₹ 67,286 | ₹ 1,52,463 | ₹ 2,19,750 | ₹ 8,25,760 |
| 2042 | ₹ 55,613 | ₹ 1,64,136 | ₹ 2,19,750 | ₹ 6,61,623 |
| 2043 | ₹ 43,047 | ₹ 1,76,703 | ₹ 2,19,750 | ₹ 4,84,920 |
| 2044 | ₹ 29,518 | ₹ 1,90,232 | ₹ 2,19,750 | ₹ 2,94,689 |
| 2045 | ₹ 14,953 | ₹ 2,04,796 | ₹ 2,19,750 | ₹ 89,893 |
| 2046 | ₹ 1,670 | ₹ 89,893 | ₹ 91,562 | -₹ 0 |
In the above illustration, on a IDBI Bank Home Loan of₹ 25 Lakh, taken at the lowest interest rate of 7.40, EMI paid is ₹ 18,312 and an annual total of EMIs is ₹ 2,19,750, the interest component is ₹ 1,83,797 while the principal component is ₹ 35,953 in year 1 of loan disbursement. You repay only 1.44% of the total principal after paying 12 EMIs during the first year.
IDBI Bank Home Loan EMI for ₹ 10 Lakh
The following table shows IDBI Bank Housing Loan EMI for ₹ 10,00,000 for different tenures at an interest rate of 7.40%
| Loan Amount | Interest rate | Tenure (Year) | EMI |
|---|---|---|---|
| ₹ 10,00,000 | 7.40% | 5 Years | ₹ 19,990 |
| ₹ 10,00,000 | 7.40% | 10 Years | ₹ 11,818 |
| ₹ 10,00,000 | 7.40% | 15 Years | ₹ 9,213 |
| ₹ 10,00,000 | 7.40% | 20 Years | ₹ 7,995 |
| ₹ 10,00,000 | 7.40% | 0 Years |
IDBI Bank Home Loan EMI for ₹ 20 Lakh
The following table shows IDBI Bank Housing Loan EMI for ₹ 20,00,000 for different tenures at an interest rate of 7.40%
| Loan Amount | Interest rate | Tenure (Year) | EMI |
|---|---|---|---|
| ₹ 20,00,000 | 7.40% | 5 Years | ₹ 39,981 |
| ₹ 20,00,000 | 7.40% | 10 Years | ₹ 23,636 |
| ₹ 20,00,000 | 7.40% | 15 Years | ₹ 18,427 |
| ₹ 20,00,000 | 7.40% | 20 Years | ₹ 15,990 |
| ₹ 20,00,000 | 7.40% | 0 Years |
IDBI Bank Home Loan EMI for ₹ 30 Lakh
The following table shows IDBI Bank Housing Loan EMI for ₹ 30,00,000 for different tenures at an interest rate of 7.40%
| Loan Amount | Interest rate | Tenure (Year) | EMI |
|---|---|---|---|
| ₹ 30,00,000 | 7.40% | 5 Years | ₹ 59,971 |
| ₹ 30,00,000 | 7.40% | 10 Years | ₹ 35,454 |
| ₹ 30,00,000 | 7.40% | 15 Years | ₹ 27,640 |
| ₹ 30,00,000 | 7.40% | 20 Years | ₹ 23,985 |
| ₹ 30,00,000 | 7.40% | 0 Years |
IDBI Bank Home Loan EMI for ₹ 50 Lakh
The following table shows IDBI Bank Housing Loan EMI for ₹ 50,00,000 for different tenures at an interest rate of 7.40%
| Loan Amount | Interest rate | Tenure (Year) | EMI |
|---|---|---|---|
| ₹ 50,00,000 | 7.40% | 5 Years | ₹ 99,952 |
| ₹ 50,00,000 | 7.40% | 10 Years | ₹ 59,090 |
| ₹ 50,00,000 | 7.40% | 15 Years | ₹ 46,067 |
| ₹ 50,00,000 | 7.40% | 20 Years | ₹ 39,974 |
| ₹ 50,00,000 | 7.40% | 0 Years |
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FAQs
✅Will the IDBI Bank home loan EMI remain constant or change in future?
No, your IDBI Bank Home Loan EMI can change if you have taken a floating rate loan and there is a change in the repo rate to which the home loan rate has been benchmarked. However, if it is a fixed rate loan, the IDBI Bank Home Loan EMI will remain unchanged throughout the loan tenure unless you request for a change in tenure or prepay your loan amount.
✅What happens in case of increase or decrease in IDBI Bank interest rate?
IDBI Bank offers floating rate home loans only. If you take a floating rate loan from IDBI Bank, your interest rate and hence EMI will decrease with a cut in the repo rate and increase with an increase in repo rate on the date of reset. This means that your IDBI Bank home loan EMI can keep fluctuating during the loan tenure depending on the changes in interest rates.
✅Will IDBI Bank home loan EMI change in case of prepayment?
IDBI Bank allows prepayment at nil charges in case of floating rate home loans. When you make a prepayment, the outstanding balance of the principal amount on your IDBI Bank home loan reduces. In this case, you may choose to either keep the EMI same and reduce the loan tenure (that is paying off the loan faster) or reduce the EMI and keep the loan tenure the same (that is paying a lesser amount every month). It is beneficial to keep the IDBI Bank home loan EMI constant and reduce the loan tenure as you pay less interest to the bank in this option. After prepayment, you can calculate your home loan EMI using IDBI Bank home loan calculator.
✅Why should I calculate IDBI Bank loan EMI before taking a loan?
It is advised to calculate IDBI Bank home loan EMI before taking a home loan. There are several benefits of calculating your IDBI Bank housing loan EMI which can be done using IDBI Bank loan calculator IDBI Bank housing loan EMI calculator as discussed below -
✅What is the EMI for home loan in IDBI Bank?
The IDBI Bank EMI will vary based on loan amount, tenure, rate of interest and can be calculated using IDBI Bank home loan calculator. Based on the lowest rate of 7.40% and maximum tenure of 30 years, the IDBI Bank home loan EMI for different loan amount will be:
| Loan amount | EMI |
|---|---|
| ₹ 10 Lakh | ₹ 6,924 |
| ₹ 12 Lakh | ₹ 8,309 |
| ₹ 15 Lakh | ₹ 10,386 |
| ₹ 30 Lakh | ₹ 20,771 |
| ₹ 50 Lakh | ₹ 34,619 |
You can compare IDBI Bank home loan EMI for different loan amounts and tenure and then choose the loan amount based on your repayment capacity.
✅How accurate is a IDBI Bank Housing Loan EMI calculator?
Online IDBI Bank housing loan calculators use technology to calculate the results and hence, if the data entered by you is correct the results should be 100% accurate.The calculator works on a mathematical algorithm based on the formula: P*r* (1+r)^n/([(1+r)^n]-1). Here, P is the loan amount, r is the rate of interest per month and n is the tenure in month. The IDBI Bank home loan emi calculator is far better than manual calculations , as chances of error are less.
✅How to pay your IDBI Bank Home loan EMI Online?
To pay the EMI of IDBI Bank home loan, you can log in to your net banking account as provided during the time of availing the loan and pay using your savings account or debit/credit card. You can also visit the branch and submit the cheque of your EMI.
✅How is IDBI Bank home loan EMI calculated?
The IDBI Bank Home loan EMI calculation formula is as follows:
E = [P x R x (1+R)^N]/[(1+R)^N-1] where
‘E’ means Equated monthly instalments
‘P’ means the principal amount
‘N’ is the number of monthly instalments
‘R’ is the interest rate per month.
✅What is the EMI for ₹ 10 Lakh home loan in IDBI Bank?
You can use a 10 lakh home loan emi calculator IDBI Bank, to determine different EMI for different tenures. Let`s understand with examples:-
| Loan amount | Interest rate | Tenure | EMI |
|---|---|---|---|
| ₹ 10 Lakh | 7.40% | 10 years loan | ₹ 11,818 |
| ₹ 10 Lakh | 7.40% | 15 years loan | ₹ 9,213 |
| ₹ 10 Lakh | 7.40% | 20 years loan | ₹ 7,995 |
✅What is the EMI for ₹ 20 Lakh home loan in IDBI Bank?
You can use a 20 lakh home loan emi calculator IDBI Bank, to determine different EMI for different tenures. Let`s understand with examples:-
| Loan amount | Interest rate | Tenure | EMI |
|---|---|---|---|
| ₹ 20 Lakh | 7.40% | 10 years loan | ₹ 23,636 |
| ₹ 20 Lakh | 7.40% | 15 years loan | ₹ 18,427 |
| ₹ 20 Lakh | 7.40% | 20 years loan | ₹ 15,990 |
✅What is the EMI for ₹ 30 Lakh home loan in IDBI Bank?
You can use a 30 lakh home loan emi calculator IDBI Bank, to determine different EMI for different tenures. Let`s understand with examples:-
| Loan amount | Interest rate | Tenure | EMI |
|---|---|---|---|
| ₹ 30 Lakh | 7.40% | 10 years loan | ₹ 35,454 |
| ₹ 30 Lakh | 7.40% | 15 years loan | ₹ 27,640 |
| ₹ 30 Lakh | 7.40% | 20 years loan | ₹ 23,985 |
✅What is the EMI for ₹ 50 Lakh home loan in IDBI Bank?
You can use a 50 lakh home loan emi calculator IDBI Bank, to determine different EMI for different tenures. Let`s understand with examples:-
| Loan amount | Interest rate | Tenure | EMI |
|---|---|---|---|
| ₹ 50 Lakh | 7.40% | 10 years loan | ₹ 59,090 |
| ₹ 50 Lakh | 7.40% | 15 years loan | ₹ 46,067 |
| ₹ 50 Lakh | 7.40% | 20 years loan | ₹ 39,974 |
✅What is the EMI for a 25 lakhs home loan in IDBI Bank and how is it calculated?
EMI for ₹ 25 lakhs will be as follows for three different tenure, as per 25 lakh home loan emi calculator IDBI Bank:--
| Loan amount | Interest rate | Tenure | EMI |
|---|---|---|---|
| ₹ 25 Lakh | 7.40% | 10 years loan | ₹ 29,545 |
| ₹ 25 Lakh | 7.40% | 15 years loan | ₹ 23,033 |
| ₹ 25 Lakh | 7.40% | 20 years loan | ₹ 19,987 |
✅What is the EMI for 12 lakhs home loan in IDBI Bank?
A borrower will pay ₹ 12,598 if he/she takes a loan for 12 years at an interest rate of 7.40%. The 12 lakh home loan emi IDBI Bank may vary across IDBI Bank home loan interest rate.
Compare Home Loan EMI of All Banks
- SBI
- HDFC
- Citibank
- Bank of Baroda
- ICICI Bank
- Axis Bank
- PNB Housing Finance
- LIC Housing Finance
- Bajaj Home Finance
- Sundaram Home Finance
- Kotak Bank
- Yes Bank
- Syndicate Bank
- IDFC First Bank
- Karur Vysya Bank
- RBL Bank
- HSBC Bank
- Standard Chartered Bank
- Edelweiss
- GIC Housing Finance
- Reliance Capital
- IIFL
- Corporation Bank
- IDBI Bank
- Indian Bank
- Indian Overseas Bank
- OBC
- PNB
- Indiabulls
- DCB Bank
- Dhan Laxmi Bank
- Karnataka Bank
- South Indian Bank
- Federal Bank
- Jammu And Kashmir Bank
- Lakshmi Vilas Bank
- Allahabad Bank
- Andhra Bank
- Bank of India
- Bank of Maharashtra
- Canara Bank
- Central Bank of India
- Punjab and Sind Bank
- UCO Bank
- Union Bank of India
- United Bank of India
- DBS Bank
- LT Housing Finance
- Piramal Housing Finance
- Aavas Financiers
- Aadhar Housing Finance
- Tata Capital Home Finance
- 2021-01-15 : IDBI Bank reported Rs 378-crore profit
IDBI Bank posted a net profit of Rs 378 crore for the December quarter. The loans which includes home, LAP, personal, car, two-wheeler, gold, education and doctor loan along with business and mudra loans fell 7% to Rs 1.6 lakh crore (y-o-y) in December 2020. The bank’s total deposits which includes fixed and recurring deposits rose 2.85% y-o-y to Rs 2.24 lakh crore at the end of December 2020. In addition to this, CASA improved to 48.97% as on December 31, 2020. - 2020-10-20 : IDBI Bank launched banking services on WhatsApp
IDBI Bank launched the banking service on WhatsApp. WhatsApp Banking service will be offered through a dedicated WhatsApp verified number. The bank customers will be able to avail various essential banking services such as account balance information, last five transactions, request for a cheque book and an email statement through newly launched WhatsApp banking services. Further, the details of the nearest IDBI Bank branches or ATMs will also be available via WhatsApp. - 2020-07-28 : IDBI Bank reported Q1 net profit of ₹144 crore
IDBI Bank reported Rs 144 crore net profit for June quarter on account of a reversal of Rs 1335 crore of bad loan provisioning. It is IDBI second successive net profit after 13 consecutive quarters of loss. CASA increased to ₹ 1,04,315 crore and cost of deposit which includes fixed and recurring deposits improved by 64 bps to 4.65%. In addition to this, NII bolstered by home, personal, gold, car and two-wheeler loan along with business and mudra loans stood at ₹ 1,773 crores. - 2020-02-17 : LIC Housing Finance likely to merge with IDBI Bank
LIC is expected to expedite the merger of its Housing finance arm, LIC Housing Finance with IDBI Bank. This move will help both lenders target more customers as one single entity under the lending platform for home loans. Further, the merger will help customers to get home loans at affordable interest rates - 2019-07-22 : IDBI Bank announces a tie-up with New India Assurance Company Limited
IDBI Bank has entered into a Bancassurance Corporate Agency agreement with the New India Assurance Company Limited. The association with the insurance company has been done to offer various insurance products to its customer base. The lender is also eyeing growth across its retail loan segments including home loans, personal loans, and fixed deposits.
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