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IDFC First Home Loan Calculator

IDFC First Bank Housing Loan EMI Calculator

Last Updated 09th Nov 2021

  • IDFC First Bank home loan EMI per ₹ 1 Lakh is ₹ 659, which is one of the lowest EMI offered by banks. Check Best Offers
  • Housing loan EMI in IDFC First Bank is calculated based on loan amount, loan tenure and interest rate.
  • It is better to calculate your EMI for IDFC First Bank home loan before applying. Use an online IDFC First Bank loan EMI calculator to estimate your EMI.
  • Check IDFC First Bank home loan EMI for different tenures at the current IDFC First Bank home loan interest rate of 6.90%
  • Loan Amount10 Year Loan15 Year loan30 Year loan
    ₹ 10 Lakh₹ 11,559₹ 8,932₹ 6,586
    ₹ 20 Lakh₹ 23,119₹ 17,865₹ 13,172
    ₹ 30 Lakh₹ 34,678₹ 26,797₹ 19,758
    ₹ 50 Lakh₹ 57,797₹ 44,662₹ 32,930

    Jump to EMI Calculator

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IDFC First Home Loan EMI Calculator Online

IDFC First 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 IDFC First Bank housing loan EMI in advance to plan your loan payments and expenses using a IDFC First Bank home loan calculator. IDFC First 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 IDFC First Bank Home Loan EMI Calculator?

  • Calculate the EMI at Different Tenures: IDFC First Bank offers the lowest EMI per lakh at . To get the lowest EMI on your home loan, you can compare the EMIs with a different loan amount and tenure. However, it is advisable to check with the bank to know the interest rate you will be eligible for IDFC First Bank home loan.
  • Compare IDFC First Bank Home Loan EMI: With IDFC First Bank home loan EMI Calculator, you can also estimate EMI on your home loan from IDFC First Bank with other leading banks in India at the same loan amount and tenure at varying interest rates.
  • Get Detailed Amortisation Schedule: You can calculate the division of total EMIs into interest and principal repayment on your loan at different periods throughout the loan tenure.
  • Calculate the Outstanding Balance: Finally, you can also calculate the remaining loan tenure for the outstanding balance at any period of the loan tenure. If you want to reduce your home loan tenure, you can always consider a home loan balance transfer because other banks may allow you to pay your home loan at low rates.

IDFC First 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 IDFC First Bank Home Loan EMI calculator. The below-mentioned table shows the calculation of IDFC First Bank Home Loan at the various combinations of loan amount and years at the lowest rate of 6.90%. 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 IDFC First Bank Home loan plan for you.

IDFC First Bank home loan EMI is calculated for different loan amounts and tenures at 6.90% interest rate
Loan Tenure
Loan Amount (Rs.) 15 years20 years30 years
₹ 25 Lakh ₹ 22,331 ₹ 19,233 ₹ 16,465
₹ 50 Lakh ₹ 44,662 ₹ 38,465 ₹ 32,930
₹ 75 Lakh ₹ 66,994 ₹ 57,698 ₹ 49,395
₹ 1 Cr ₹ 89,325 ₹ 76,931 ₹ 65,860

Benefits of using IDFC First Bank Home Loan EMI Calculator

IDFC First 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 IDFC First 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 IDFC First 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 IDFC First 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.

Loan Amount

If you apply for a higher loan amount, you will have to pay a higher EMI IDFC First Bank gives a minimum home loan of ₹ 10,00,000 upto a maximum amount of ₹ 10,00,00,000.

Interest Rate

Higher interest rate increases your IDFC First Bank housing loan EMI which will increase the total cost of the loan. IDFC First Bank current home loan interest rate starts at 6.90%. Do a complete market research and compare rates and calculate EMI online using IDFC First Bank home loan calculator before you apply for a home loan.

Loan Tenure

This is the period in which you can repay your home loan in IDFC First Bank. Your EMI will be lower if you take a 0 years loan from IDFC First Bank as compared to a loan taken for 5 years. For a longer period, you get to pay a smaller EMI and vice-versa.

IDFC First Home Loan EMI Calculator Formula

IDFC First 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 IDFC First Bank Home Loan EMI calculator formulates EMI:

In above formula,

  • P = Loan amount. IDFC First Bank home loan amount can range from ₹ 10,00,000 to ₹ 10,00,00,000
  • r = Rate of interest per month. Current IDFC First Bank housing loan rate 6.90%.
  • n = tenure in month. For IDFC First Bank, maximum home loan tenure is 360 months

Comparison of IDFC First 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
IDFC First Bank 6.90% ₹ 6,586 ₹ 19,758 ₹ 32,930
HDFC 6.70% ₹ 6,453 ₹ 19,358 ₹ 32,264
ICICI Bank 6.70% ₹ 6,453 ₹ 19,358 ₹ 32,264
SBI 6.65% ₹ 6,420 ₹ 19,259 ₹ 32,098
LIC Housing Finance 6.66% ₹ 6,426 ₹ 19,279 ₹ 32,131
Axis Bank 6.65% ₹ 6,420 ₹ 19,259 ₹ 32,098

IDFC First Bank Home Loan Amortization Calculator

IDFC First Bank Home Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. IDFC First 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 ₹ 30 Lakh for 15 years from IDFC First Bank at an interest rate of 6.90%. EMI calculated for this loan amount is ₹ 26,797 and the total annual EMIs to be paid annually is ₹ 3,21,569. The EMI schedule of loan for 15 years is explained below in the table –

Amortization Schedule for a Home Loan of ₹ 30 Lakh over the 15 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 17,250 ₹ 9,547 ₹ 26,797 ₹ 29,90,453
2022 ₹ 2,02,626 ₹ 1,18,942 ₹ 3,21,569 ₹ 28,71,510
2023 ₹ 1,94,155 ₹ 1,27,414 ₹ 3,21,569 ₹ 27,44,096
2024 ₹ 1,85,080 ₹ 1,36,489 ₹ 3,21,569 ₹ 26,07,607
2025 ₹ 1,75,358 ₹ 1,46,210 ₹ 3,21,569 ₹ 24,61,397
2026 ₹ 1,64,945 ₹ 1,56,624 ₹ 3,21,569 ₹ 23,04,772
2027 ₹ 1,53,789 ₹ 1,67,780 ₹ 3,21,569 ₹ 21,36,993
2028 ₹ 1,41,839 ₹ 1,79,730 ₹ 3,21,569 ₹ 19,57,263
2029 ₹ 1,29,038 ₹ 1,92,531 ₹ 3,21,569 ₹ 17,64,732
2030 ₹ 1,15,325 ₹ 2,06,244 ₹ 3,21,569 ₹ 15,58,488
2031 ₹ 1,00,635 ₹ 2,20,933 ₹ 3,21,569 ₹ 13,37,555
2032 ₹ 84,900 ₹ 2,36,669 ₹ 3,21,569 ₹ 11,00,886
2033 ₹ 68,043 ₹ 2,53,526 ₹ 3,21,569 ₹ 8,47,360
2034 ₹ 49,986 ₹ 2,71,583 ₹ 3,21,569 ₹ 5,75,777
2035 ₹ 30,642 ₹ 2,90,927 ₹ 3,21,569 ₹ 2,84,850
2036 ₹ 9,921 ₹ 2,84,850 ₹ 2,94,771 -₹ 0

In the above illustration, on a IDFC First Bank Home Loan of₹ 30 Lakh, taken at the lowest interest rate of 6.90, EMI paid is ₹ 26,797 and an annual total of EMIs is ₹ 3,21,569, the interest component is ₹ 2,03,306 while the principal component is ₹ 1,18,262 in year 1 of loan disbursement. You repay only 3.94% of the total principal after paying 12 EMIs during the first year.

IDFC First Bank Home Loan EMI for ₹ 10 Lakh

The following table shows IDFC First Bank Housing Loan EMI for ₹ 10,00,000 for different tenures at an interest rate of 6.90%

Loan Amount Interest rate Tenure (Year) EMI
₹ 10,00,000 6.90% 5 Years ₹ 19,754
₹ 10,00,000 6.90% 10 Years ₹ 11,559
₹ 10,00,000 6.90% 15 Years ₹ 8,932
₹ 10,00,000 6.90% 20 Years ₹ 7,693
₹ 10,00,000 6.90% 0 Years

IDFC First Bank Home Loan EMI for ₹ 20 Lakh

The following table shows IDFC First Bank Housing Loan EMI for ₹ 20,00,000 for different tenures at an interest rate of 6.90%

Loan Amount Interest rate Tenure (Year) EMI
₹ 20,00,000 6.90% 5 Years ₹ 39,508
₹ 20,00,000 6.90% 10 Years ₹ 23,119
₹ 20,00,000 6.90% 15 Years ₹ 17,865
₹ 20,00,000 6.90% 20 Years ₹ 15,386
₹ 20,00,000 6.90% 0 Years

IDFC First Bank Home Loan EMI for ₹ 30 Lakh

The following table shows IDFC First Bank Housing Loan EMI for ₹ 30,00,000 for different tenures at an interest rate of 6.90%

Loan Amount Interest rate Tenure (Year) EMI
₹ 30,00,000 6.90% 5 Years ₹ 59,262
₹ 30,00,000 6.90% 10 Years ₹ 34,678
₹ 30,00,000 6.90% 15 Years ₹ 26,797
₹ 30,00,000 6.90% 20 Years ₹ 23,079
₹ 30,00,000 6.90% 0 Years

IDFC First Bank Home Loan EMI for ₹ 50 Lakh

The following table shows IDFC First Bank Housing Loan EMI for ₹ 50,00,000 for different tenures at an interest rate of 6.90%

Loan Amount Interest rate Tenure (Year) EMI
₹ 50,00,000 6.90% 5 Years ₹ 98,770
₹ 50,00,000 6.90% 10 Years ₹ 57,797
₹ 50,00,000 6.90% 15 Years ₹ 44,662
₹ 50,00,000 6.90% 20 Years ₹ 38,465
₹ 50,00,000 6.90% 0 Years

Other Loan Calculators Offered by MyLoanCare

FAQs

Will the IDFC First Bank home loan EMI remain constant or change in future?

No, your IDFC First 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 IDFC First 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 IDFC First Bank interest rate?

IDFC First Bank offers floating rate home loans only. If you take a floating rate loan from IDFC First 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 IDFC First Bank home loan EMI can keep fluctuating during the loan tenure depending on the changes in interest rates.

Will IDFC First Bank home loan EMI change in case of prepayment?

IDFC First 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 IDFC First 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 IDFC First 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 IDFC First Bank home loan calculator.

Why should I calculate IDFC First Bank loan EMI before taking a loan?

It is advised to calculate IDFC First Bank home loan EMI before taking a home loan. There are several benefits of calculating your IDFC First Bank housing loan EMI which can be done using IDFC First Bank loan calculator IDFC First Bank housing loan EMI calculator as discussed below -

  • In case EMI comes out to be more than your monthly budget, then you have the chance to apply for a lower loan amount which fits your monthly budget and make IDFC First Bank EMI affordable.
  • If you already know the EMI you have to pay each month, then you can plan your spends accordingly
  • Based on the EMI amount, you can opt for making a prepayment of your home loan in the future when you have a surplus amount. You can calculate the aftermaths of prepayment using home loan emi calculator IDFC First Bank.

What is the EMI for home loan in IDFC First Bank?

The IDFC First Bank EMI will vary based on loan amount, tenure, rate of interest and can be calculated using IDFC First Bank home loan calculator. Based on the lowest rate of 6.90% and maximum tenure of 30 years, the IDFC First Bank home loan EMI for different loan amount will be:

Loan amount EMI
₹ 10 Lakh ₹ 6,586
₹ 12 Lakh ₹ 7,903
₹ 15 Lakh ₹ 9,879
₹ 30 Lakh ₹ 19,758
₹ 50 Lakh ₹ 32,930

You can compare IDFC First 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 IDFC First Bank Housing Loan EMI calculator?

Online IDFC First 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 IDFC First Bank home loan emi calculator is far better than manual calculations , as chances of error are less.

How to pay your IDFC First Bank Home loan EMI Online?

To pay the EMI of IDFC First 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 IDFC First Bank home loan EMI calculated?

The IDFC First 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 IDFC First Bank?

You can use a 10 lakh home loan emi calculator IDFC First Bank, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 10 Lakh 6.90% 10 years loan ₹ 11,559
₹ 10 Lakh 6.90% 15 years loan ₹ 8,932
₹ 10 Lakh 6.90% 20 years loan ₹ 7,693

What is the EMI for ₹ 20 Lakh home loan in IDFC First Bank?

You can use a 20 lakh home loanemi calculator IDFC First Bank, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 20 Lakh 6.90% 10 years loan ₹ 23,119
₹ 20 Lakh 6.90% 15 years loan ₹ 17,865
₹ 20 Lakh 6.90% 20 years loan ₹ 15,386

What is the EMI for ₹ 30 Lakh home loan in IDFC First Bank?

You can use a 30 lakh home loan emi calculator IDFC First Bank, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 30 Lakh 6.90% 10 years loan ₹ 34,678
₹ 30 Lakh 6.90% 15 years loan ₹ 26,797
₹ 30 Lakh 6.90% 20 years loan ₹ 23,079

What is the EMI for ₹ 50 Lakh home loan in IDFC First Bank?

You can use a 50 lakh home loan emi calculator IDFC First Bank, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 50 Lakh 6.90% 10 years loan ₹ 57,797
₹ 50 Lakh 6.90% 15 years loan ₹ 44,662
₹ 50 Lakh 6.90% 20 years loan ₹ 38,465

What is the EMI for a 25 lakhs home loan in IDFC First 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 IDFC First Bank:--

Loan amount Interest rate Tenure EMI
₹ 25 Lakh 6.90% 10 years loan ₹ 28,898
₹ 25 Lakh 6.90% 15 years loan ₹ 22,331
₹ 25 Lakh 6.90% 20 years loan ₹ 19,233

What is the EMI for 12 lakhs home loan in IDFC First Bank?

A borrower will pay ₹ 12,277 if he/she takes a loan for 12 years at an interest rate of 6.90%. The 12 lakh home loan emi IDFC First Bank may vary across IDFC First Bank home loan interest rate.

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IDFC First Home Loan News - Dec 2021
  • 2021-11-01 : IDFC First Bank Profit Jumps By 50 Percent
    Private sector bank, IDFC First Bank has reported a nearly 50 percent jump in net profit. In the quarter ended in September 2021 the lender had a profit of Rs 151.74 crore, last year the profit was of Rs 101.41 crore. Total income during July-September of FY22 rose to Rs 4,880.29 crore, as against Rs 4,090.87 crore in the same quarter of FY21.
  • 2021-06-14 : IDFC First Bank’s helping hand for the covid-affected families of employees
    To help the families of employees who lost their lives due to covid, IDFC First Bank is offering compensation of upto 4 times of the CTC along with a salary of two years. Along with that, the bank is also wavering the loans of such employees to reduce the burden on the employees’ family.
  • 2021-05-21 : IDFC First Bank profit surged 78% to Rs 128 crore
    IDFC First Bank reported a 78% jump in net profit at Rs 128 crore for the fourth quarter ended March 2021. The bank had posted a profit of Rs 72 crore during the corresponding January-March quarter a year ago. Total income during the fourth quarter rose to Rs 4,834 crore backed by Retail advances which include home, LAP, personal, two-wheeler, car, gold, education and doctor loan.
  • 2021-01-22 : IDFC First Bank retail loan surges 100%
    IDFC First Bank reported that its retail deposits which includes home, personal, car, two wheeler, gold and LAP increased 100% Y-o-Y. In addition to this, Customer Deposits of the Bank which includes FD and RDs increased to Rs. 77,289 Cr as on 31 December 2020 from Rs. 54,631 Cr as on 31 December 2019 . CASA ratio on outstanding deposits as on 31 December 2020 was 48.4%.
  • 2020-07-31 : IDFC First Bank Ltd Q1FY21 consolidated net profit at Rs. 100.07 crore
    IDFC Bank posted a net profit of Rs.100.07 crores for the period ended June 30, 2020, as against Rs.76.36 crores for the period ended March 31, 2020. The company bolstered by retails loans like home, personal, gold, car and two-wheeler loans along with the Business and mudra loans has reported total income of Rs.4413.19 crores during the period ended June 30, 2020 as compared to Rs.4553.07 crores during the period ended March 31, 2020.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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