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IIFL Home Loan Calculator

IIFL Housing Loan EMI Calculator

Last Updated 26th Oct 2021

  • IIFL home loan EMI per ₹ 1 Lakh is ₹ 783, which is one of the lowest EMI offered by banks. Check Best Offers
  • Housing loan EMI in IIFL is calculated based on loan amount, loan tenure and interest rate.
  • It is better to calculate your EMI for IIFL home loan before applying. Use an online IIFL loan EMI calculator to estimate your EMI.
  • Check IIFL home loan EMI for different tenures at the current IIFL home loan interest rate of 8.70%
  • Loan Amount10 Year Loan15 Year loan30 Year loan
    ₹ 10 Lakh₹ 12,506₹ 9,965₹ 7,831
    ₹ 20 Lakh₹ 25,012₹ 19,930₹ 15,663
    ₹ 30 Lakh₹ 37,517₹ 29,895₹ 23,494
    ₹ 50 Lakh₹ 62,529₹ 49,825₹ 39,157

    Jump to EMI Calculator

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IIFL Home Loan EMI Calculator Online

IIFL 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 IIFL housing loan EMI in advance to plan your loan payments and expenses using a IIFL home loan calculator. IIFL home loan EMI calculator is an online tool that functions on a mathematical algorithm and gives accurate results without hassle.

Why should you use IIFL Home Loan EMI Calculator?

  • Calculate the EMI at Different Tenures: IIFL 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 IIFL home loan.
  • Compare IIFL Home Loan EMI: With IIFL home loan EMI Calculator, you can also estimate EMI on your home loan from IIFL 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.

IIFL 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 IIFL Home Loan EMI calculator. The below-mentioned table shows the calculation of IIFL Home Loan at the various combinations of loan amount and years at the lowest rate of 8.70%. 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 IIFL Home loan plan for you.

IIFL home loan EMI is calculated for different loan amounts and tenures at 8.70% interest rate
Loan Tenure
Loan Amount (Rs.) 15 years20 years30 years
₹ 25 Lakh ₹ 24,912 ₹ 22,013 ₹ 19,578
₹ 50 Lakh ₹ 49,825 ₹ 44,026 ₹ 39,157
₹ 75 Lakh ₹ 74,737 ₹ 66,039 ₹ 58,735
₹ 1 Cr ₹ 99,650 ₹ 88,052 ₹ 78,313

Benefits of using IIFL Home Loan EMI Calculator

IIFL 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 IIFL 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 IIFL 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 IIFL 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 IIFL gives a minimum home loan of ₹ 10,00,000 upto a maximum amount of ₹ 5,00,00,000.

Interest Rate

Higher interest rate increases your IIFL housing loan EMI which will increase the total cost of the loan. IIFL current home loan interest rate starts at 8.70%. Do a complete market research and compare rates and calculate EMI online using IIFL 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 IIFL. Your EMI will be lower if you take a 0 years loan from IIFL as compared to a loan taken for 5 years. For a longer period, you get to pay a smaller EMI and vice-versa.

IIFL Home Loan EMI Calculator Formula

IIFL 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 IIFL Home Loan EMI calculator formulates EMI:

In above formula,

  • P = Loan amount. IIFL home loan amount can range from ₹ 10,00,000 to ₹ 5,00,00,000
  • r = Rate of interest per month. Current IIFL housing loan rate 8.70%.PLR
  • n = tenure in month. For IIFL, maximum home loan tenure is 360 months

Comparison of IIFL 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
IIFL 8.70% ₹ 7,831 ₹ 23,494 ₹ 39,157
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

IIFL Home Loan Amortization Calculator

IIFL Home Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. IIFL 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 IIFL at an interest rate of 8.70%. EMI calculated for this loan amount is ₹ 29,895 and the total annual EMIs to be paid annually is ₹ 3,58,739. 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 ₹ 43,441 ₹ 16,349 ₹ 59,790 ₹ 29,83,651
2022 ₹ 2,55,526 ₹ 1,03,213 ₹ 3,58,739 ₹ 28,80,438
2023 ₹ 2,46,180 ₹ 1,12,559 ₹ 3,58,739 ₹ 27,67,879
2024 ₹ 2,35,987 ₹ 1,22,752 ₹ 3,58,739 ₹ 26,45,127
2025 ₹ 2,24,872 ₹ 1,33,868 ₹ 3,58,739 ₹ 25,11,259
2026 ₹ 2,12,749 ₹ 1,45,990 ₹ 3,58,739 ₹ 23,65,269
2027 ₹ 1,99,529 ₹ 1,59,210 ₹ 3,58,739 ₹ 22,06,059
2028 ₹ 1,85,112 ₹ 1,73,627 ₹ 3,58,739 ₹ 20,32,432
2029 ₹ 1,69,389 ₹ 1,89,350 ₹ 3,58,739 ₹ 18,43,082
2030 ₹ 1,52,243 ₹ 2,06,496 ₹ 3,58,739 ₹ 16,36,586
2031 ₹ 1,33,544 ₹ 2,25,195 ₹ 3,58,739 ₹ 14,11,390
2032 ₹ 1,13,151 ₹ 2,45,588 ₹ 3,58,739 ₹ 11,65,802
2033 ₹ 90,912 ₹ 2,67,827 ₹ 3,58,739 ₹ 8,97,975
2034 ₹ 66,659 ₹ 2,92,080 ₹ 3,58,739 ₹ 6,05,896
2035 ₹ 40,210 ₹ 3,18,529 ₹ 3,58,739 ₹ 2,87,367
2036 ₹ 11,583 ₹ 2,87,367 ₹ 2,98,949 -₹ 0

In the above illustration, on a IIFL Home Loan of₹ 30 Lakh, taken at the lowest interest rate of 8.70, EMI paid is ₹ 29,895 and an annual total of EMIs is ₹ 3,58,739, the interest component is ₹ 2,57,007 while the principal component is ₹ 1,01,732 in year 1 of loan disbursement. You repay only 3.39% of the total principal after paying 12 EMIs during the first year.

IIFL Home Loan EMI for ₹ 10 Lakh

The following table shows IIFL Housing Loan EMI for ₹ 10,00,000 for different tenures at an interest rate of 8.70%

Loan Amount Interest rate Tenure (Year) EMI
₹ 10,00,000 8.70% 5 Years ₹ 20,613
₹ 10,00,000 8.70% 10 Years ₹ 12,506
₹ 10,00,000 8.70% 15 Years ₹ 9,965
₹ 10,00,000 8.70% 20 Years ₹ 8,805
₹ 10,00,000 8.70% 0 Years

IIFL Home Loan EMI for ₹ 20 Lakh

The following table shows IIFL Housing Loan EMI for ₹ 20,00,000 for different tenures at an interest rate of 8.70%

Loan Amount Interest rate Tenure (Year) EMI
₹ 20,00,000 8.70% 5 Years ₹ 41,226
₹ 20,00,000 8.70% 10 Years ₹ 25,012
₹ 20,00,000 8.70% 15 Years ₹ 19,930
₹ 20,00,000 8.70% 20 Years ₹ 17,610
₹ 20,00,000 8.70% 0 Years

IIFL Home Loan EMI for ₹ 30 Lakh

The following table shows IIFL Housing Loan EMI for ₹ 30,00,000 for different tenures at an interest rate of 8.70%

Loan Amount Interest rate Tenure (Year) EMI
₹ 30,00,000 8.70% 5 Years ₹ 61,839
₹ 30,00,000 8.70% 10 Years ₹ 37,517
₹ 30,00,000 8.70% 15 Years ₹ 29,895
₹ 30,00,000 8.70% 20 Years ₹ 26,416
₹ 30,00,000 8.70% 0 Years

IIFL Home Loan EMI for ₹ 50 Lakh

The following table shows IIFL Housing Loan EMI for ₹ 50,00,000 for different tenures at an interest rate of 8.70%

Loan Amount Interest rate Tenure (Year) EMI
₹ 50,00,000 8.70% 5 Years ₹ 1,03,065
₹ 50,00,000 8.70% 10 Years ₹ 62,529
₹ 50,00,000 8.70% 15 Years ₹ 49,825
₹ 50,00,000 8.70% 20 Years ₹ 44,026
₹ 50,00,000 8.70% 0 Years

Other Loan Calculators Offered by MyLoanCare

FAQs

Will the IIFL home loan EMI remain constant or change in future?

No, your IIFL 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 IIFL 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 IIFL interest rate?

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

Will IIFL home loan EMI change in case of prepayment?

IIFL 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 IIFL 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 IIFL 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 IIFL home loan calculator.

Why should I calculate IIFL loan EMI before taking a loan?

It is advised to calculate IIFL home loan EMI before taking a home loan. There are several benefits of calculating your IIFL housing loan EMI which can be done using IIFL loan calculator IIFL 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 IIFL 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 IIFL.

What is the EMI for home loan in IIFL?

The IIFL EMI will vary based on loan amount, tenure, rate of interest and can be calculated using IIFL home loan calculator. Based on the lowest rate of 8.70% and maximum tenure of 30 years, the IIFL home loan EMI for different loan amount will be:

Loan amount EMI
₹ 10 Lakh ₹ 7,831
₹ 12 Lakh ₹ 9,398
₹ 15 Lakh ₹ 11,747
₹ 30 Lakh ₹ 23,494
₹ 50 Lakh ₹ 39,157

You can compare IIFL home loan EMI for different loan amounts and tenure and then choose the loan amount based on your repayment capacity.

How accurate is a IIFL Housing Loan EMI calculator?

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

How to pay your IIFL Home loan EMI Online?

To pay the EMI of IIFL 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 IIFL home loan EMI calculated?

The IIFL 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 IIFL?

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

Loan amount Interest rate Tenure EMI
₹ 10 Lakh 8.70% 10 years loan ₹ 12,506
₹ 10 Lakh 8.70% 15 years loan ₹ 9,965
₹ 10 Lakh 8.70% 20 years loan ₹ 8,805

What is the EMI for ₹ 20 Lakh home loan in IIFL?

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

Loan amount Interest rate Tenure EMI
₹ 20 Lakh 8.70% 10 years loan ₹ 25,012
₹ 20 Lakh 8.70% 15 years loan ₹ 19,930
₹ 20 Lakh 8.70% 20 years loan ₹ 17,610

What is the EMI for ₹ 30 Lakh home loan in IIFL?

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

Loan amount Interest rate Tenure EMI
₹ 30 Lakh 8.70% 10 years loan ₹ 37,517
₹ 30 Lakh 8.70% 15 years loan ₹ 29,895
₹ 30 Lakh 8.70% 20 years loan ₹ 26,416

What is the EMI for ₹ 50 Lakh home loan in IIFL?

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

Loan amount Interest rate Tenure EMI
₹ 50 Lakh 8.70% 10 years loan ₹ 62,529
₹ 50 Lakh 8.70% 15 years loan ₹ 49,825
₹ 50 Lakh 8.70% 20 years loan ₹ 44,026

What is the EMI for a 25 lakhs home loan in IIFL 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 IIFL:--

Loan amount Interest rate Tenure EMI
₹ 25 Lakh 8.70% 10 years loan ₹ 31,264
₹ 25 Lakh 8.70% 15 years loan ₹ 24,912
₹ 25 Lakh 8.70% 20 years loan ₹ 22,013

What is the EMI for 12 lakhs home loan in IIFL?

A borrower will pay ₹ 13,454 if he/she takes a loan for 12 years at an interest rate of 8.70%. The 12 lakh home loan emi IIFL may vary across IIFL home loan interest rate.

Compare Home Loan EMI of All Banks


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IIFL Home Loan News - Nov 2021
  • 2021-06-09 : Growth of upto 18% expected by IIFL Home Finance on loans
    IIFL Home Finance expects a growth on its loan book which includes Home loans and Loan against property of upto 18%.
  • 2021-01-20 : IIFL Home Finance and Standard Chartered Bank joined hands for co-lending
    IIFL Home Finance and Standard Chartered Bank joined hands for extending credit. It is one of the first co-lending partnership after Reserve Bank India’s co-lending guidelines were issued. Under this co-lending agreement, IIFL Home Finance Ltd and the Standard Chartered Bank will co-originate these loans and the IIFL Home Finance Ltd will service the customers through the entire loan life-cycle including.
  • 2020-08-24 : IIFL Home Finance launches the next phase of green affordable housin
    IIFL Home Finance announced the launch of the sixth edition of Kutumb initiative. The initiative focuses on promoting green affordable housing.
  • 2019-08-06 : IIFL Finance to raise up to Rs. 1,000 crore through bonds
    One of the leading non-banking financial company, IIFL Finance, has plans to raise up to Rs. 1,000 crore through a public issue of bonds. The funds will be raised to augment its business growth and expansion and to meet the needs of the underserved population like providing easy loans and deposits to them at doorsteps.
  • 2019-07-18 : IIFL comes up with unique home loan ‘Swaraj’ for the informal segment
    One of the leading housing finance companies, IIFL Home Finance has come up with a unique home loan ‘Swaraj’ to meet the needs of the borrowers in the informal segment. Home loans offered under Swaraj are between Rs. 2 lakh and Rs. 20 lakh.
*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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