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Indian Bank Home Loan EMI Calculator

Indian Bank Home Loan Calculator

Last Updated 03rd Jun 2021

  • Indian Bank home loan EMI per ₹ 1 Lakh is ₹ 809, which is one of the lowest EMI offered by banks. Check Best Offers
  • Housing loan EMI in Indian Bank is calculated based on loan amount, loan tenure and interest rate.
  • It is better to calculate your EMI for Indian Bank home loan before applying. Use an online Indian Bank loan EMI calculator to estimate your EMI.
  • Check Indian Bank home loan EMI for different tenures at the current Indian Bank home loan interest rate of 7.55%
  • Loan Amount10 Year Loan15 Year loan20 Year loan
    ₹ 10 Lakh₹ 11,896₹ 9,299₹ 8,087
    ₹ 20 Lakh₹ 23,793₹ 18,597₹ 16,173
    ₹ 30 Lakh₹ 35,689₹ 27,896₹ 24,260
    ₹ 50 Lakh₹ 59,481₹ 46,493₹ 40,433

    Jump to EMI Calculator

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Indian Bank Home Loan EMI Calculator Online

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

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

Indian 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 Indian Bank Home Loan EMI calculator. The below-mentioned table shows the calculation of Indian Bank Home Loan at the various combinations of loan amount and years at the lowest rate of 7.55%. 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 Indian Bank Home loan plan for you.

Indian Bank home loan EMI is calculated for different loan amounts and tenures at 7.55% interest rate
Loan Tenure
Loan Amount (Rs.) 15 years20 years30 years
₹ 25 Lakh ₹ 23,246 ₹ 20,216 ₹ 17,566
₹ 50 Lakh ₹ 46,493 ₹ 40,433 ₹ 35,132
₹ 75 Lakh ₹ 69,739 ₹ 60,649 ₹ 52,698
₹ 1 Cr ₹ 92,986 ₹ 80,865 ₹ 70,264

Benefits of using Indian Bank Home Loan EMI Calculator

Indian 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 Indian 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 Indian 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 Indian 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 Indian Bank gives a minimum home loan of ₹ 15,00,000 upto a maximum amount of ₹ 5,00,00,000.

Interest Rate

Higher interest rate increases your Indian Bank housing loan EMI which will increase the total cost of the loan. Indian Bank current home loan interest rate starts at 7.55%. Do a complete market research and compare rates and calculate EMI online using Indian 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 Indian Bank. Your EMI will be lower if you take a 0 years loan from Indian Bank as compared to a loan taken for 5 years. For a longer period, you get to pay a smaller EMI and vice-versa.

Indian Bank Home Loan EMI Calculator Formula

Indian Bank 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 Indian Bank Home Loan EMI calculator formulates EMI:

In above formula,

  • P = Loan amount. Indian Bank home loan amount can range from ₹ 15,00,000 to ₹ 5,00,00,000
  • r = Rate of interest per month. Current Indian Bank housing loan rate 7.55%.
  • n = tenure in month. For Indian Bank, maximum home loan tenure is 360 months

Comparison of Indian 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
Indian Bank 7.55% ₹ 7,026 ₹ 21,079 ₹ 35,132
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

Indian Bank Home Loan Amortization Calculator

Indian Bank Home Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. Indian 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 Indian Bank at an interest rate of 7.55%. EMI calculated for this loan amount is ₹ 18,556 and the total annual EMIs to be paid annually is ₹ 2,22,674. 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 ₹ 1,09,727 ₹ 20,166 ₹ 1,29,893 ₹ 24,79,834
2022 ₹ 1,85,975 ₹ 36,699 ₹ 2,22,674 ₹ 24,43,134
2023 ₹ 1,83,106 ₹ 39,568 ₹ 2,22,674 ₹ 24,03,566
2024 ₹ 1,80,013 ₹ 42,661 ₹ 2,22,674 ₹ 23,60,906
2025 ₹ 1,76,678 ₹ 45,996 ₹ 2,22,674 ₹ 23,14,910
2026 ₹ 1,73,083 ₹ 49,591 ₹ 2,22,674 ₹ 22,65,319
2027 ₹ 1,69,207 ₹ 53,467 ₹ 2,22,674 ₹ 22,11,851
2028 ₹ 1,65,027 ₹ 57,647 ₹ 2,22,674 ₹ 21,54,205
2029 ₹ 1,60,521 ₹ 62,153 ₹ 2,22,674 ₹ 20,92,052
2030 ₹ 1,55,663 ₹ 67,011 ₹ 2,22,674 ₹ 20,25,040
2031 ₹ 1,50,424 ₹ 72,250 ₹ 2,22,674 ₹ 19,52,791
2032 ₹ 1,44,777 ₹ 77,897 ₹ 2,22,674 ₹ 18,74,893
2033 ₹ 1,38,688 ₹ 83,986 ₹ 2,22,674 ₹ 17,90,907
2034 ₹ 1,32,123 ₹ 90,551 ₹ 2,22,674 ₹ 17,00,356
2035 ₹ 1,25,044 ₹ 97,630 ₹ 2,22,674 ₹ 16,02,726
2036 ₹ 1,17,413 ₹ 1,05,261 ₹ 2,22,674 ₹ 14,97,465
2037 ₹ 1,09,185 ₹ 1,13,489 ₹ 2,22,674 ₹ 13,83,976
2038 ₹ 1,00,314 ₹ 1,22,360 ₹ 2,22,674 ₹ 12,61,615
2039 ₹ 90,749 ₹ 1,31,925 ₹ 2,22,674 ₹ 11,29,690
2040 ₹ 80,436 ₹ 1,42,237 ₹ 2,22,674 ₹ 9,87,453
2041 ₹ 69,318 ₹ 1,53,356 ₹ 2,22,674 ₹ 8,34,097
2042 ₹ 57,330 ₹ 1,65,343 ₹ 2,22,674 ₹ 6,68,753
2043 ₹ 44,406 ₹ 1,78,268 ₹ 2,22,674 ₹ 4,90,485
2044 ₹ 30,471 ₹ 1,92,203 ₹ 2,22,674 ₹ 2,98,282
2045 ₹ 15,447 ₹ 2,07,227 ₹ 2,22,674 ₹ 91,055
2046 ₹ 1,726 ₹ 91,055 ₹ 92,781 -₹ 0

In the above illustration, on a Indian Bank Home Loan of₹ 25 Lakh, taken at the lowest interest rate of 7.55, EMI paid is ₹ 18,556 and an annual total of EMIs is ₹ 2,22,674, the interest component is ₹ 1,87,551 while the principal component is ₹ 35,123 in year 1 of loan disbursement. You repay only 1.4% of the total principal after paying 12 EMIs during the first year.

Indian Bank Home Loan EMI for ₹ 10 Lakh

The following table shows Indian Bank Housing Loan EMI for ₹ 10,00,000 for different tenures at an interest rate of 7.55%

Loan Amount Interest rate Tenure (Year) EMI
₹ 10,00,000 7.55% 5 Years ₹ 20,062
₹ 10,00,000 7.55% 10 Years ₹ 11,896
₹ 10,00,000 7.55% 15 Years ₹ 9,299
₹ 10,00,000 7.55% 20 Years ₹ 8,087
₹ 10,00,000 7.55% 0 Years

Indian Bank Home Loan EMI for ₹ 20 Lakh

The following table shows Indian Bank Housing Loan EMI for ₹ 20,00,000 for different tenures at an interest rate of 7.55%

Loan Amount Interest rate Tenure (Year) EMI
₹ 20,00,000 7.55% 5 Years ₹ 40,123
₹ 20,00,000 7.55% 10 Years ₹ 23,793
₹ 20,00,000 7.55% 15 Years ₹ 18,597
₹ 20,00,000 7.55% 20 Years ₹ 16,173
₹ 20,00,000 7.55% 0 Years

Indian Bank Home Loan EMI for ₹ 30 Lakh

The following table shows Indian Bank Housing Loan EMI for ₹ 30,00,000 for different tenures at an interest rate of 7.55%

Loan Amount Interest rate Tenure (Year) EMI
₹ 30,00,000 7.55% 5 Years ₹ 60,185
₹ 30,00,000 7.55% 10 Years ₹ 35,689
₹ 30,00,000 7.55% 15 Years ₹ 27,896
₹ 30,00,000 7.55% 20 Years ₹ 24,260
₹ 30,00,000 7.55% 0 Years

Indian Bank Home Loan EMI for ₹ 50 Lakh

The following table shows Indian Bank Housing Loan EMI for ₹ 50,00,000 for different tenures at an interest rate of 7.55%

Loan Amount Interest rate Tenure (Year) EMI
₹ 50,00,000 7.55% 5 Years ₹ 1,00,309
₹ 50,00,000 7.55% 10 Years ₹ 59,481
₹ 50,00,000 7.55% 15 Years ₹ 46,493
₹ 50,00,000 7.55% 20 Years ₹ 40,433
₹ 50,00,000 7.55% 0 Years

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FAQs

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

No, your Indian 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 Indian 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 Indian Bank interest rate?

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

Will Indian Bank home loan EMI change in case of prepayment?

Indian 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 Indian 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 Indian 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 Indian Bank home loan calculator.

Why should I calculate Indian Bank loan EMI before taking a loan?

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

What is the EMI for home loan in Indian Bank?

The Indian Bank EMI will vary based on loan amount, tenure, rate of interest and can be calculated using Indian Bank home loan calculator. Based on the lowest rate of 7.55% and maximum tenure of 20 years, the Indian Bank home loan EMI for different loan amount will be:

Loan amount EMI
₹ 10 Lakh ₹ 8,087
₹ 12 Lakh ₹ 9,704
₹ 15 Lakh ₹ 12,130
₹ 30 Lakh ₹ 24,260
₹ 50 Lakh ₹ 40,433

You can compare Indian 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 Indian Bank Housing Loan EMI calculator?

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

How to pay your Indian Bank Home loan EMI Online?

To pay the EMI of Indian 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 Indian Bank home loan EMI calculated?

The Indian 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 Indian Bank?

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

Loan amount Interest rate Tenure EMI
₹ 10 Lakh 7.55% 10 years loan ₹ 11,896
₹ 10 Lakh 7.55% 15 years loan ₹ 9,299
₹ 10 Lakh 7.55% 20 years loan ₹ 8,087

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

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

Loan amount Interest rate Tenure EMI
₹ 20 Lakh 7.55% 10 years loan ₹ 23,793
₹ 20 Lakh 7.55% 15 years loan ₹ 18,597
₹ 20 Lakh 7.55% 20 years loan ₹ 16,173

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

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

Loan amount Interest rate Tenure EMI
₹ 30 Lakh 7.55% 10 years loan ₹ 35,689
₹ 30 Lakh 7.55% 15 years loan ₹ 27,896
₹ 30 Lakh 7.55% 20 years loan ₹ 24,260

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

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

Loan amount Interest rate Tenure EMI
₹ 50 Lakh 7.55% 10 years loan ₹ 59,481
₹ 50 Lakh 7.55% 15 years loan ₹ 46,493
₹ 50 Lakh 7.55% 20 years loan ₹ 40,433

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

Loan amount Interest rate Tenure EMI
₹ 25 Lakh 7.55% 10 years loan ₹ 29,741
₹ 25 Lakh 7.55% 15 years loan ₹ 23,246
₹ 25 Lakh 7.55% 20 years loan ₹ 20,216

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

A borrower will pay ₹ 12,695 if he/she takes a loan for 12 years at an interest rate of 7.55%. The 12 lakh home loan emi Indian Bank may vary across Indian Bank home loan interest rate.

Compare Home Loan EMI of All Banks


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Indian Bank Home Loan News - Jun 2021
  • 2021-06-01 : Indian Bank reported a Q4 profit of 1,709-cr
    Indian Bank reported a net profit of Rs 1,708.85 crore in the March-ended quarter. Total income during the January-March quarter of 2020-21 increased to Rs 10,647.87 crore. It was Rs 6,334.37 crore in the same period of 2019-20. The net profit of the bank backed by retail loan like home, LAP, personal, two-wheeler, car education and doctor loan along business and mudra loan was recorded at Rs 3,004.68 crore.
  • 2021-01-25 : Indian Bank posted Q3FY21 net profit at Rs. 526.31 crore
    Indian Bank reported a total income of Rs.11571.33 crores backed by home, personal,education, gold, car and two wheeler loans along with business and mudra loans during the period ended December 31, 2020. Further, it posted net profit of Rs.526.31 crores for the period ended December 31, 2020 as against net profit of Rs.424.14 crores for the period ended September 30, 2020.
  • 2020-10-16 : Indian Bank sets up a portal to restructure retail loans
    Indian Bank launched a digital platform for restructuring all retail loan including home, personal, car, two-wheeler, and gold loans. The portal will allow the borrowers to submit recast requests on the portal and check eligibility criteria.
  • 2020-08-17 : Indian Bank Q1FY21 PAT at Rs. 369.26 crore
    Indian Bank has posted a net profit of Rs.369.26 crores for the period ended June 30, 2020, as against a net profit of Rs. 217.73 crores for the period ended March 31, 2020. In addition to this, the Bank reported a total income of Rs.11446.71 crores aided by retail loans like home, personal, car, two-wheeler.
  • 2020-06-23 : Indian bank reported an increase of 134% net profit
    Public sector lender Indian Bank reported an increase in a net loss in the 4th quarter of FY20 however, its net profit zoomed 134% for the full year on the back of the personal, home, car, two-wheeler, business, mudra, gold, education loans. The bank also reported an improvement in its asset quality.
*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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