Indiabulls Home Loan Calculator

Last Updated 15th Jul 2019

Indiabulls Home Loan EMI Calculator 2020

27th March 2020 – RBI cuts Repo Rate by 75 bps to 4.4%

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Indiabulls home loan EMI per Rs lakh is Rs. 856, which is one of the lowest EMI offered by banks. Housing loan EMI in Indiabulls is calculated based on loan amount, loan tenure and interest rate. Check Best Offers

Loan Amount10 year loan15 year loan25 year loan
₹ 20 Lakh₹ 25,607₹ 20,584₹ 17,128
₹ 30 Lakh₹ 38,410₹ 30,876₹ 25,691
₹ 50 Lakh₹ 64,016₹ 51,460₹ 42,819
Home Loan EMI Calculator
Rs.
Lowest Interest Rate
Best Offers on Home Loan offerOffers
Bank/NBFCs Rate* EMI Per Lakh* Action
SBI7.15%₹ 675Check Eligibility
HDFC8.00%₹ 734Check Eligibility
ICICI Bank8.25%₹ 751Check Eligibility

* Starting From

Indiabulls Home Loan EMI

  • Indiabulls Home Loan EMI (or equated monthly instalment) is a fixed monthly instalment paid by borrowers to Indiabulls against the loan taken for repayment of your loan and payment of interest to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
  • Indiabulls offers Home Loans with loan tenure upto 30 years, and the lowest EMI offered by the bank is Rs. 751 per lakh. The Lowest Rate of interest offered by Indiabulls on Home Loan is 9.25% and is one of the most popular housing loans in India.
Indiabulls Housing Loan EMI Calculator at different tenures
EMI for different Home Loan amounts and tenures @ 9.25% interest rate
Loan Tenure
Loan Amount (Rs.) 15 years20 years30 years
2,500,000 ₹ 25,730 ₹ 22,897 20,567
5,000,000 ₹ 51,460 ₹ 45,793 41,134
7,500,000 ₹ 77,189 ₹ 68,690 61,701
10,000,000 ₹ 1.03 Lakh₹ 91,587 82,268
  • As you can see in the above table, for various loan amounts taken at the lowest rate of interest, EMI differs by loan tenure at 15, 20 and 30. Your EMI is higher when you take a loan for a shorter tenure of 15 years and it is lower when you apply for a higher tenure of 30.
  • Your EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, every month the proportion of interest payment and principal repaid within each EMI is different. With every EMI, the proportion of principal repayment in EMI keeps increasing and the interest component in EMI keeps reducing.
Indiabulls Home Loan Interest Rate Calculator

Indiabulls Housing loan Calculator is used along with EMI calculator is used to calculate the total interest a borrower will pay on housing loan at different loan tenure as well as various levels of interest rates.

Home Loan EMI for Rs. 1 Lakh loan amount at lowest 9.25% interest rate offered by Indiabulls for different tenures
Calculated Results for Indiabulls Home Loan EMI 5 years 10 years 15 years 25 years
Indiabulls EMI for a loan amount Rs. 1 lakh at 9.25% ₹ 2,088 ₹ 1,280 ₹ 1,029 ₹ 856
Total amount you pay back to the bank including principal and interest ₹ 1.25 Lakh ₹ 1.54 Lakh ₹ 1.85 Lakh ₹ 2.57 Lakh
Interest you have to pay during the loan tenure ₹ 25,280 ₹ 53,600 ₹ 85,220 ₹ 1.57 Lakh

The above table shows the longer your loan tenure, lower is the EMI you pay on the loan. However, your total interest outgo is significantly higher in a long tenure loan. In the above example, if you take a Rs. 1 Lakh loan for a period of 30, you pay the lowest EMI of Rs. 856 . However, you pay an interest of Rs. 1.57 Lakh on a Rs. 1 Lakh loan.
In contrast, if you take a Rs. 1 Lakh loan from Indiabulls at the lowest loan rate offered for a period of 15 years, you pay a higher home loan EMI of Rs. 2,088 and pay an interest of only Rs. 25,280 which is less than half of what you paid in a 25 years loan. Hence, it is advisable to choose your loan tenure wisely as longer tenure means high interest expenses. This can be done using Indiabulls Home Loan Calculator.

Indiabulls Home Loan Details

  • Purpose of Loan: Indiabulls house loan is taken to purchase, construct a home, renovate your existing home.
  • Key Features
    • Loan available for both salaried and self employed. Special rates for women borrowers.
    • Borrowers within the age group of 23 and 65 years.
    • Security: Mortgage of property you are planning to purchase, renovate or construct.
    • Loan to Value Ratio of 90%.
    • Loan Tenure can range from 1 to 25 years.
    • Interest rates in the range of 9.25% to 9.99%.
    • Indiabulls home loan EMI per lakh starts from Rs. 751. However, you can calculate your home loan EMI using Indiabulls home loan calculator 2020.
  • Processing Fees: Minimum Rs. 7,500 Maximum Rs. 10,000
  • Special schemes: Indiabulls offers customised home loan interest rates and schemes for special category of borrowers including women borrowers, senior citizens, NRIs etc. Some of the special loan offers of Indiabulls are:
    • Purchase of Flat
    • Construction of Flat
    • Home Extension Loan
    • Home Renovation Loan
    • Indiabulls e-home loans
Factors Affecting Indiabulls Home Loan EMI
  • Loan amount – This is the amount borrowed by a borrower from Indiabulls. If you apply for a higher loan amount, your monthly EMI will be high. Indiabulls gives a minimum home loan of Rs. 2 Lakh upto an amount of Rs. 3 Cr.
  • Interest rate - Interest rates is the rate charged by Indiabulls on your home loan. Higher interest rate increases your housing loan EMI which will increase the total cost of the loan. Indiabulls current home loan interest rate starts at 9.25%. Do complete market research and compare rates and calculate EMI online using Indiabulls 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 Indiabulls. Longer loan tenure means lower housing loan EMI. Loan term can be determined by your age at the time of loan sanctioning and your retirement age. Generally, Indiabulls offers house loans for a maximum tenure of 30 years.

Indiabulls Home Loan EMI Calculator Formula

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how Indiabulls Home Loan EMI calculator formulates EMI:

In above formula,

P = Loan amount. This can range from Rs. 2 Lakh to Rs. 3 Cr

r = Rate of interest per month. Current rate is 9.25%, which is linked to Indiabulls PLR

n = tenure in month. For Indiabulls, this can be 360 months

Indiabulls Home Loan Interest Rate Calculator

Typically, Home Loan EMIs constitute a large proportion of the household’s monthly expenditure to pay for a long period. Being a long tenure loan, the total interest you pay on a housing loan for 30 years can be more than the original loan amount you have borrowed from the bank. Indiabulls Home Loan Interest rate Calculator online can help you calculate the interest rate you are eligible for and also, the total interest you will pay during the loan duration. Some of factors that are used for interest rate calculation are:

  • Occupation of the borrowers: Banks charge a slightly higher interest rate on home loans for self-employed as compared to that on loans for salaried borrowers.
  • Amount of the Loan: Indiabulls offers loans of up to Rs. 30 Lakh at 9.25% and loans of above Rs. 30 Lakh at rates ranging from 9.50% to 9.99%.
  • Type of loan opted for: The bank also offers different rates on its various loan schemes such as fixed rate home loan, floating rate home loan and home loan with overdraft facility etc.
  • Existing bank customers: ICICI Bank may also offer lower interest to its existing bank account holders to maintain its relationship.

Tips to decide the right amount of EMI

  • Ascertain the amount you need to borrow: It is important that before approaching a bank for a loan, you need to estimate the amount of loan you need to borrow. Remember house loan is a long term loan, and hence it is advisable to minimise your loan amount to the extent possible. Limit your loan amount to the balance funds you need to fund the property after accounting for your available funds. Also, using the Indiabulls Housing Loan EMI calculator try to opt for the lowest tenure of loans as long tenure loans result in huge interest outgo.
  • Review your current obligations: Before taking a loan. it is advisable to evaluate your current monthly expenses including any EMI obligations that you have on your current loans. The assessment will help you to estimate the amount of EMI you can pay comfortably after taking into account other obligations. Once you arrive at the EMI you can service, you can also decide on the right loan tenure.

How to process for Home Loan EMI moratorium in Indiabulls?

Indiabulls has announced that the three months loan moratorium is available for the term loans and interest of working capital loans for March to May 2020. As a borrower, you have the option to opt-in or opt-out of the moratorium by informing Indiabulls. The interest will continue to accrue on the principal outstanding during this moratorium and the accumulated interest would be added to the principal amount resulting in the extension of loan tenure except in cases where the tenure extension is not possible will increase EMI amount. The moratorium on payment of Home Loan EMI’s will not be treated as default and will not have any negative impact on the borrower’s credit score. To know more about the moratorium option, you may contact Indiabulls customer care or its nearest branch.

FAQs on Indiabulls Housing Loan EMI Calculator

Will the Indiabulls home loan EMI remain constant or change in future? What happens in case of increase or decrease in interest rate?
  • Typically, the home loan EMI remains unchanged unless the customer requests for a change and the same is approved by Indiabulls subject to its eligibility conditions (note that nominal charges may apply for effecting a customer initiated change in EMI)
  • In case the floating rate of interest on your home loan increases, the EMI will increase as per the reset frequency of your home loan.
  • For partly disbursed loans availed under tranched EMI scheme, your loan EMI will increase with each disbursement.
  • You can plan your EMIs with Indiabulls Home loan EMI calculator 2020.
Will home loan EMI change in case of prepayment?
  • Indiabulls 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 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 same (that is paying lesser amount every month). It is beneficial to keep the 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 Indiabulls home loan calculator.
Why should I calculate Indiabulls loan EMI before taking a loan?

It is advised to calculate home loan EMI before taking a home loan. There are several benefits of calculating your Indiabulls housing loan EMI which can be done using Indiabulls 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 makes EMI easily 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 surplus amount
What is the EMI for home loan in Indiabulls?

The EMI will vary based on loan amount, tenure, rate of interest and can be calculated using Indiabulls home loan calculator. Based on the lowest rate of 9.25% and maximum tenure of 30 years, the Indiabulls home loan EMI for different loan amount will be:

Loan amount EMI
₹ 10 Lakh ₹ 8,227
₹ 30 Lakh ₹ 24,680
₹ 50 Lakh ₹ 41,134

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

Can I use the same Housing payments calculator for an Indiabulls home loan?

The home loan EMI calculator works in the same manner for all banks. So, you can use the EMI calculator for Indiabulls home loan to calculate the monthly installments and know about. Besides, using the Indiabulls home loan calculator will save your time and help you analyze different offers easily.

How accurate is a Indiabulls Housing Loan EMI calculator?

Online Indiabulls 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.

Why should I calculate my Indiabulls home loan EMI in advance before taking a loan?

By calculating the EMI before availing the Indiabulls home finance will help you identify the amount you can pay each month as EMI. Plus, based on your budget, you can assess the maximum loan amount you can be eligible for and the applicable rate for it.

How to pay your Indiabulls Home loan EMI?

To pay the EMI of Indiabulls 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.

Compare Home Loan EMI of All Banks

Indiabulls Home Loan News - Apr 2020
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More