Home Loan EMI Calculator

Home Loan - Lowest EMI is Rs. 0 per lakh

Last Updated 20th Feb 2017
  • Get monthly EMI as low as Rs. 0 per lakh with now offering home loans with loan tenure upto years.
  • Lowest home loan interest rate currently offered by is %, for which the EMI per Rs. 1 lakh loan amount comes to Rs. 0 for a 15 year loan and Rs. 0 for a 20 year loan. Check the EMI for other tenures using the home loan EMI calculator on this page.

Home Loan EMI Calculator

Home Loan EMI Calculator
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Home Loan EMI

  • Home Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
  • With offering Home Loans with loan tenure upto 30 years, the loan EMI can be as low as Rs. 0 per lakh, to make it more affordable and convenient to meet your needs. Lowest Rate of interest offered by on Home Loan is %.
  • Loan Tenure
    Loan Amount (Rs.) 15 years20 years30 years
    2,500,000 0
    5,000,000 0
    7,500,000 0
    10,000,000 0
  • This EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, the principal component keeps increasing and on the other hand the interest component keeps reducing.

Home Loan EMI calculator formula

P*r* (1+r)^n/([(1+r)^n]-1)
Here is an illustration of how Home Loan EMI is calculated:
In above formula,
P = Loan amount. This can range from Rs. 0 to Rs. 0
r = Rate of interest per month. Current rate is %, which is linked to
n = tenure in month. For , this can be 360 months

Will the 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 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, will typically keep the EMI constant but increase the loan tenure. So, you will pay the same EMI but for a longer duration. In case the interest rates increase to an extent that the revised loan tenure is more than the maximum permissible by , the bank may increase your EMI amount.
  • For partly disbursed loans availed under tranched EMI scheme, your loan EMI will increase with each disbursement.

Will home loan EMI change in case of prepayment?

  • allows prepayment at nil charges or penalty in case of floating rate home loans.
  • When you make a prepayment, the outstanding principal amount on your home loan reduces. In this case, you may choose to either keep the EMI the same and reduce the loan tenure (that is pay off the loan faster) or reduce the EMI and keep the loan tenure the same (that is pay 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.
Home Loan EMI Calculator News - Feb 2017
17th Feb 17 Affordable housing segment to get better returns in FY18
Government has recently introduced a series of reform to encourage affordable housing segment in India. Several measures such as granting infrastructure status to real estate and launch of new regulatory act for realty sector are likely to benefit the real estate developers and investors operating in the affordable housing segment.
17th Feb 17 Scheme with interest subsidy on housing loan to be applicable from 1st January, 2017
Prime Minister of India had announced a special home loan interest subsidy of up to 4 percent for buyers or owners of affordable and middle income houses on 31st January, 2016. The scheme is expected to be operational from 1st January, 2017. Home loan borrowers with loans of less than Rs 18 lakh sanctioned after 1st January, 2017 can avail the benefit of interest subsidy under the scheme. Unmarried and earning young adults intending to acquire a new house including repurchase are also eligible for the benefit. Under the scheme, flats measuring up to 960 sqft and 1,184 sqft will attract interest subsidy of 3 and 4 percent respectively.
16th Feb 17 Home loan growth is likely to be lowerat 16 to18 percent in FY17
ICRA, a leading credit rating agency has revised its home loan growth targets downward by 2 percent from its earlier projections of 18 to 20 percent to 16 to 18 percent in FY17. As per its report, total housing credit outstanding in India in September, 2016 witnessed an 18 percent growth on a year on year basis and stood at Rs 13.3 lakh crore as compared to 19 percent in March, 2016 when it stood at 12.4 lakh crore. The growth could be impact by investors and buyers are expected to defer their purchase decision in expectation of a decline in real estate prices.
15th Feb 17 HDFC Ltd to raise Rs. 5,000 crore via Masala Bonds
HDFC Ltd is planning to raise funds worth Rs. 5,000 from international investors via Masala Bonds. The bonds with a tenure of three years are expected to be issued in FY17. The bank plans to utilise the funds for funding growth in its home loan business.
14th Feb 17 Sunteck Realty to invest Rs. 1000 crore in affordable housing segment
Suntech Reality, Mumbai based realty firm, is planning to invest funds worth Rs. 1000 crore in affordable housing projects, its new business vertical. The new vertical is likely to bring higher volumes for the company and also help in business diversification. The realty firm is expected to focus on the geographies of Navi Mumbai, Thane, Kalyan and the locations near Mumbai.
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