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Karnataka Bank Home Loan EMI Calculator

Karnataka Bank Home Loan Calculator

Last Updated 04th May 2021

  • Karnataka Bank home loan EMI per ₹ 1 Lakh is ₹ 772, which is one of the lowest EMI offered by banks. Check Best Offers
  • Housing loan EMI in Karnataka Bank is calculated based on loan amount, loan tenure and interest rate.
  • It is better to calculate your EMI for Karnataka Bank home loan before applying. Use an online Karnataka Bank loan EMI calculator to estimate your EMI.
  • Check Karnataka Bank home loan EMI for different tenures at the current Karnataka Bank home loan interest rate of 8.55%
  • Loan Amount10 Year Loan15 Year loan30 Year loan
    ₹ 10 Lakh₹ 12,425₹ 9,877₹ 7,725
    ₹ 20 Lakh₹ 24,851₹ 19,753₹ 15,449
    ₹ 30 Lakh₹ 37,276₹ 29,630₹ 23,174
    ₹ 50 Lakh₹ 62,127₹ 49,384₹ 38,623

    Jump to EMI Calculator

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Karnataka Bank Home Loan EMI Calculator Online

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

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

Karnataka 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 Karnataka Bank Home Loan EMI calculator. The below-mentioned table shows the calculation of Karnataka Bank Home Loan at the various combinations of loan amount and years at the lowest rate of 8.55%. 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 Karnataka Bank Home loan plan for you.

Karnataka Bank home loan EMI is calculated for different loan amounts and tenures at 8.55% interest rate
Loan Tenure
Loan Amount (Rs.) 15 years20 years30 years
₹ 25 Lakh ₹ 24,692 ₹ 21,775 ₹ 19,312
₹ 50 Lakh ₹ 49,384 ₹ 43,550 ₹ 38,623
₹ 75 Lakh ₹ 74,075 ₹ 65,324 ₹ 57,934
₹ 1 Cr ₹ 98,767 ₹ 87,099 ₹ 77,246

Benefits of using Karnataka Bank Home Loan EMI Calculator

Karnataka 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 Karnataka 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 Karnataka 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 Karnataka 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 Karnataka 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 Karnataka Bank housing loan EMI which will increase the total cost of the loan. Karnataka Bank current home loan interest rate starts at 8.55%. Do a complete market research and compare rates and calculate EMI online using Karnataka 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 Karnataka Bank. Your EMI will be lower if you take a 0 years loan from Karnataka Bank as compared to a loan taken for 5 years. For a longer period, you get to pay a smaller EMI and vice-versa.

Karnataka Bank Home Loan EMI Calculator Formula

Karnataka 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 Karnataka Bank Home Loan EMI calculator formulates EMI:

In above formula,

  • P = Loan amount. Karnataka Bank home loan amount can range from ₹ 15,00,000 to ₹ 5,00,00,000
  • r = Rate of interest per month. Current Karnataka Bank housing loan rate 8.55%.
  • n = tenure in month. For Karnataka Bank, maximum home loan tenure is 360 months

Comparison of Karnataka 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
Karnataka Bank 8.55 ₹ 7,725 ₹ 23,174 ₹ 38,623
Kotak Bank 6.65 ₹ 7,544 ₹ 22,633 ₹ 37,722

Karnataka Bank Home Loan Amortization Calculator

Karnataka Bank Home Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. Karnataka 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 Karnataka Bank at an interest rate of 8.55%. EMI calculated for this loan amount is ₹ 20,215 and the total annual EMIs to be paid annually is ₹ 2,42,580. 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 ₹ 1,24,324 ₹ 17,181 ₹ 1,41,505 ₹ 24,82,819
2022 ₹ 2,11,065 ₹ 31,515 ₹ 2,42,580 ₹ 24,51,304
2023 ₹ 2,08,262 ₹ 34,317 ₹ 2,42,580 ₹ 24,16,987
2024 ₹ 2,05,210 ₹ 37,369 ₹ 2,42,580 ₹ 23,79,617
2025 ₹ 2,01,887 ₹ 40,693 ₹ 2,42,580 ₹ 23,38,925
2026 ₹ 1,98,268 ₹ 44,311 ₹ 2,42,580 ₹ 22,94,613
2027 ₹ 1,94,328 ₹ 48,252 ₹ 2,42,580 ₹ 22,46,361
2028 ₹ 1,90,036 ₹ 52,543 ₹ 2,42,580 ₹ 21,93,818
2029 ₹ 1,85,364 ₹ 57,216 ₹ 2,42,580 ₹ 21,36,602
2030 ₹ 1,80,275 ₹ 62,304 ₹ 2,42,580 ₹ 20,74,297
2031 ₹ 1,74,735 ₹ 67,845 ₹ 2,42,580 ₹ 20,06,452
2032 ₹ 1,68,701 ₹ 73,879 ₹ 2,42,580 ₹ 19,32,573
2033 ₹ 1,62,131 ₹ 80,449 ₹ 2,42,580 ₹ 18,52,124
2034 ₹ 1,54,976 ₹ 87,603 ₹ 2,42,580 ₹ 17,64,521
2035 ₹ 1,47,186 ₹ 95,394 ₹ 2,42,580 ₹ 16,69,127
2036 ₹ 1,38,702 ₹ 1,03,878 ₹ 2,42,580 ₹ 15,65,250
2037 ₹ 1,29,464 ₹ 1,13,115 ₹ 2,42,580 ₹ 14,52,134
2038 ₹ 1,19,405 ₹ 1,23,175 ₹ 2,42,580 ₹ 13,28,959
2039 ₹ 1,08,451 ₹ 1,34,129 ₹ 2,42,580 ₹ 11,94,830
2040 ₹ 96,522 ₹ 1,46,057 ₹ 2,42,580 ₹ 10,48,773
2041 ₹ 83,533 ₹ 1,59,047 ₹ 2,42,580 ₹ 8,89,726
2042 ₹ 69,389 ₹ 1,73,191 ₹ 2,42,580 ₹ 7,16,535
2043 ₹ 53,987 ₹ 1,88,593 ₹ 2,42,580 ₹ 5,27,943
2044 ₹ 37,215 ₹ 2,05,365 ₹ 2,42,580 ₹ 3,22,578
2045 ₹ 18,952 ₹ 2,23,628 ₹ 2,42,580 ₹ 98,950
2046 ₹ 2,125 ₹ 98,950 ₹ 1,01,075 ₹ 0

In the above illustration, on a Karnataka Bank Home Loan of₹ 25 Lakh, taken at the lowest interest rate of 8.55, EMI paid is ₹ 20,215 and an annual total of EMIs is ₹ 2,42,580, the interest component is ₹ 2,12,593 while the principal component is ₹ 29,987 in year 1 of loan disbursement. You repay only 1.2% of the total principal after paying 12 EMIs during the first year.

Karnataka Bank Home Loan EMI for ₹ 10 Lakh

The following table shows Karnataka Bank Housing Loan EMI for ₹ 10,00,000 for different tenures at an interest rate of 8.55%

Loan Amount Interest rate Tenure (Year) EMI
₹ 10,00,000 8.55% 5 Years ₹ 20,541
₹ 10,00,000 8.55% 10 Years ₹ 12,425
₹ 10,00,000 8.55% 15 Years ₹ 9,877
₹ 10,00,000 8.55% 20 Years ₹ 8,710
₹ 10,00,000 8.55% 0 Years

Karnataka Bank Home Loan EMI for ₹ 20 Lakh

The following table shows Karnataka Bank Housing Loan EMI for ₹ 20,00,000 for different tenures at an interest rate of 8.55%

Loan Amount Interest rate Tenure (Year) EMI
₹ 20,00,000 8.55% 5 Years ₹ 41,081
₹ 20,00,000 8.55% 10 Years ₹ 24,851
₹ 20,00,000 8.55% 15 Years ₹ 19,753
₹ 20,00,000 8.55% 20 Years ₹ 17,420
₹ 20,00,000 8.55% 0 Years

Karnataka Bank Home Loan EMI for ₹ 30 Lakh

The following table shows Karnataka Bank Housing Loan EMI for ₹ 30,00,000 for different tenures at an interest rate of 8.55%

Loan Amount Interest rate Tenure (Year) EMI
₹ 30,00,000 8.55% 5 Years ₹ 61,622
₹ 30,00,000 8.55% 10 Years ₹ 37,276
₹ 30,00,000 8.55% 15 Years ₹ 29,630
₹ 30,00,000 8.55% 20 Years ₹ 26,130
₹ 30,00,000 8.55% 0 Years

Karnataka Bank Home Loan EMI for ₹ 50 Lakh

The following table shows Karnataka Bank Housing Loan EMI for ₹ 50,00,000 for different tenures at an interest rate of 8.55%

Loan Amount Interest rate Tenure (Year) EMI
₹ 50,00,000 8.55% 5 Years ₹ 1,02,703
₹ 50,00,000 8.55% 10 Years ₹ 62,127
₹ 50,00,000 8.55% 15 Years ₹ 49,384
₹ 50,00,000 8.55% 20 Years ₹ 43,550
₹ 50,00,000 8.55% 0 Years

Other Loan Calculators Offered by MyLoanCare

FAQs

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

No, your Karnataka 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 Karnataka 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 Karnataka Bank interest rate?

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

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

Karnataka 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 Karnataka 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 Karnataka 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 Karnataka Bank home loan calculator.

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

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

What is the EMI for home loan in Karnataka Bank?

The Karnataka Bank EMI will vary based on loan amount, tenure, rate of interest and can be calculated using Karnataka Bank home loan calculator. Based on the lowest rate of 8.55% and maximum tenure of 30 years, the Karnataka Bank home loan EMI for different loan amount will be:

Loan amount EMI
₹ 10 Lakh ₹ 7,725
₹ 12 Lakh ₹ 9,270
₹ 15 Lakh ₹ 11,587
₹ 30 Lakh ₹ 23,174
₹ 50 Lakh ₹ 38,623

You can compare Karnataka 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 Karnataka Bank Housing Loan EMI calculator?

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

How to pay your Karnataka Bank Home loan EMI Online?

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

The Karnataka 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 Karnataka Bank?

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

Loan amount Interest rate Tenure EMI
₹ 10 Lakh 8.55% 10 years loan ₹ 12,425
₹ 10 Lakh 8.55% 15 years loan ₹ 9,877
₹ 10 Lakh 8.55% 20 years loan ₹ 8,710

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

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

Loan amount Interest rate Tenure EMI
₹ 20 Lakh 8.55% 10 years loan ₹ 24,851
₹ 20 Lakh 8.55% 15 years loan ₹ 19,753
₹ 20 Lakh 8.55% 20 years loan ₹ 17,420

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

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

Loan amount Interest rate Tenure EMI
₹ 30 Lakh 8.55% 10 years loan ₹ 37,276
₹ 30 Lakh 8.55% 15 years loan ₹ 29,630
₹ 30 Lakh 8.55% 20 years loan ₹ 26,130

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

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

Loan amount Interest rate Tenure EMI
₹ 50 Lakh 8.55% 10 years loan ₹ 62,127
₹ 50 Lakh 8.55% 15 years loan ₹ 49,384
₹ 50 Lakh 8.55% 20 years loan ₹ 43,550

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

Loan amount Interest rate Tenure EMI
₹ 25 Lakh 8.55% 10 years loan ₹ 31,063
₹ 25 Lakh 8.55% 15 years loan ₹ 24,692
₹ 25 Lakh 8.55% 20 years loan ₹ 21,775

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

A borrower will pay ₹ 13,354 if he/she takes a loan for 12 years at an interest rate of 8.55%. The 12 lakh home loan emi Karnataka Bank may vary across Karnataka Bank home loan interest rate.

Compare Home Loan EMI of All Banks


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Karnataka Bank Home Loan News - Jun 2021
  • 2021-04-27 : Karnataka Bank targetting a growth of 12% in FY22
    Karnataka Bank stated that it is targeting to grow its business at 12% to over Rs 1.42 lakh crore in the current fiscal year. The Bank is planning to gradually increase the share of the retail loan which includes home, personal, LAP, two-wheeler, car, education and doctor loan.
  • 2021-04-05 : Karnataka Bank targeting 1.42 lakh business turnover in FY 22
    Karnataka Bank is looking for 12% business growth in the current fiscal and targeting 1.42 lakh business turnover. The bank emphasised that it is planning to leverage digital banking to achieve its target.
  • 2021-01-18 : Karnataka Bank Q3 net profit rises to ₹135 cr
    Karnataka Bank posted a net profit of Rs 135 crore for the December quarter of current financial year with a growth rate of 10%. Further, net interest income rose 21% to ₹614 crore from ₹508 crore in Q3FY20.
  • 2019-08-08 : Karnataka Bank transformation initiative ‘KBL Vikaas’ is gaining momentum
    Karnataka Bank’s transformation initiative ‘KBL Vikaas’ with Boston Consulting Group (BCG) has started giving profitable results, as per the lender. Under this initiative, the turnaround time for home loans has been reduced to 7 days from 30 days earlier under this initiative and thereby resulting in growth under home loans category to 26% from earlier 16%. Also, the bank has transformed its NPA recovery process through this initiative.
  • 2019-07-15 : Karnataka Bank registers profit at Rs. 175 crore during during Q1
    Public sector lender, Karnataka Bank has registered a profit of over 7 percent growth in the net profit at Rs. 175 crores in the first quarter of FY19-20 as against Rs. 163 crores during the previous year. The profit of the lender is driven by growth in interest income, deposits, and retail loans, including home loans and mortgage loans.
*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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