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Reliance Home Loan EMI Calculator

Reliance Home Loan Calculator

Last Updated 26th Sep 2017

  • Reliance Capital home loan EMI per ₹ 1 Lakh is ₹ 878, which is one of the lowest EMI offered by banks.
  • Housing loan EMI in Reliance Capital is calculated based on loan amount, loan tenure and interest rate.
  • It is better to calculate your EMI for Reliance Capital home loan before applying. For this you can use, home loan emi calculator Reliance Capital. Check Best Offers
  • Check Reliance Capital home loan EMI for different tenures at current Reliance Capital home loan interest rate of 10.00%
  • Loan Amount10 Year Loan15 Year loan30 Year loan
    ₹ 20 Lakh₹ 26,430₹ 21,492₹ 17,551
    ₹ 30 Lakh₹ 39,645₹ 32,238₹ 26,327
    ₹ 50 Lakh₹ 66,075₹ 53,730₹ 43,879
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Reliance Home Loan EMI Calculator Online

When you take a home loan from Reliance Capital you have to pay an Equal Monthly Installment (EMI) against the borrowed loan amount, to repay the loan and the interest to the bank. Every month, the EMI is due on a fixed day of the month till your loan is fully paid back.

To calculate your Reliance Capital housing loan EMI you can use a home loan calculator Reliance Capital online to check how much you will have to pay every month. The Reliance Capital home loan EMI calculator is an online tool that functions on a mathematical algorithm to give accurate results based on loan requirements that you enter, such as loan amount, tenure and rate. You can easily calculate EMI online and get reliable results without any hassle.

Reliance Capital Housing Loan EMI Calculator at Different Tenures

Reliance Capital home loan EMI for different Loan amounts and tenures @ 10.00% interest rate
Loan Tenure
Loan Amount (Rs.) 15 years20 years30 years
₹ 25 Lakh ₹ 26,865 ₹ 24,126 ₹ 21,939
₹ 50 Lakh ₹ 53,730 ₹ 48,251 ₹ 43,879
₹ 75 Lakh ₹ 80,595 ₹ 72,377 ₹ 65,818
₹ 1 Cr ₹ 1.07 Lakh₹ 96,502 ₹ 87,757
  • As you can see in the above table, for various loan amounts taken at the lowest rate of interest as offered by Reliance Capital, 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 30years.
  • Your EMI consists of both interest payment and principal repayment. Though the Reliance Capital home loan 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.You can check this based on your requirement using Reliance Capital housing loan emi calculator.

How can Reliance Capital Home Loan EMI Calculator be Beneficial?

  • Reliance Capital Home Loan EMI calculator is a quick and straightforward solution to pre-plan and balance your inflow and outflow of money so that you don’t run short of money at any point of time. It is an online device to compute the home loan EMI payments.
  • Emi calculator home loan Reliance Capital is easily accessible and can be availed without bearing any cost. It is user friendly and calculates the EMIs in a matter of seconds and thus helps in saving time.
  • As the Reliance Capital home loan generally involves a long tenure and high amount you need to be extra cautious in the selection of home loan. The Reliance Capital emi calculator provides you with an option to change the various factors of the home loan like tenure, rate of interest and loan amount.
  • The accuracy of the home loan calculator is 100%, and it can also be helpful in computing the interest amount and EMIs in case of Reliance Capital home loan prepayment.

Factors Affecting Reliance Capital Home Loan EMI

  • Loan amount – This is the amount borrowed by a borrower from Reliance Capital. If you apply for a higher loan amount, your EMI will be high. Reliance Capital gives a minimum home loan of ₹ 15,00,000 upto an amount of ₹ 5,00,00,000.
  • Interest rate - Interest rates is the rate charged by Reliance Capital on your home loan. Higher interest rate increases your housing loan EMI which will increase the total cost of the loan. Reliance Capital current home loan interest rate starts at 10.00%. Do a complete market research and compare rates and calculate EMI online using Reliance 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 Reliance Capital. 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, Reliance Capital offers house loans for a maximum tenure of 30 years.

Reliance Home Loan EMI Calculator Formula

Reliance 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 Reliance Capital Home Loan EMI calculator formulates EMI:

In above formula,

  • P = Loan amount. Reliance Capital home loan amount can range from ₹ 15,00,000 to ₹ 5,00,00,000
  • r = Rate of interest per month. Current Reliance Capital housing loan rate 10.00%.PLR
  • n = tenure in month. For Reliance Capital, maximum home loan tenure is 360 months

Tips to Decide the Right Amount of Reliance Capital Home Loan EMI

  • Ascertain the amount you need to borrow: It is important that before approaching Reliance Capital for a loan, you are aware of the loan amount you need to borrow. House loan is a long term loan, and hence it is advisable to minimise your loan amount to the extent possible.
  • Review your current obligations: Before taking a home loan from Reliance Capital 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.
  • Calculate your Reliance Capital home loan eligibility: Your home loan eligibilityis a function of the value of the property and assessment of your repayment capacity based on your monthly income. Reliance Capital provides a LTV upto 80% and expects the borrower to fund the remaining value of the property by their own money. For example, at its lowest LTV 80%, Reliance Capital would expect its borrowers to provide margin money of 20%.
  • Reliance Capital will also estimate your Fixed Income to Obligations Ratio to ascertain the maximum EMI you can service based on your current income and other monthly expenses. The bank applies a certain ratio to your income to estimate your monthly expenses and then adds your other EMI obligations to calculate your fixed obligations.Reliance Capital’s assessment may be different from your assessment. Any differences in assessment may require you to readjust your loan amount requirement. You may also consider paying back other running short term loans to improve your eligibility.

Reliance Capital Home Loan Details

  • Purpose of Loan: Reliance house loan is taken to purchase, construct a home, renovate your existing home.
  • Key Features of Reliance Home Loans
    • Loan available for both salaried and self employed. Special rates for women borrowers.
    • Borrowers within the age group of 21 and 60 years.
    • Security: Mortgage of property you are planning to purchase, renovate or construct.
    • Loan to Value Ratio of 80%.
    • Loan Tenure can range from 5 to 30 Years years.
    • Interest rates in the range of 10.00% to 11.75%.
    • Reliance home loan EMI per lakh starts from ₹ 878. However, you can calculate your home loan EMI using Reliance home loan calculator 2021.
  • Processing Fees: 1.00% of loan amount Minimum ₹ 3,000 Maximum ₹ 6,500
  • Special schemes: Reliance 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 Reliance are:
    • Home Extension Loan
    • Home Construction Loan
    • Loan for Purchase House/Flat

Reliance Home Loan Amortization Calculator

The amortization schedule breaks the month-wise calculation of principal and interest amount you will be paying in the form of your EMIs. In simple words, with each month’s EMI, the share of interest and the principal amount keeps changing, while the former keeps on reducing the later keep on increasing. That’s why if you decide to prepay your loan in the first few years you will find out that you have paid a very small proportion of the principal sum. Let us understand this better with the help of an illustration.

Illustration: How to read an amortization schedule

Suppose you borrow a Home Loan of ₹ 25 Lakh from Reliance for 25 years at an interest rate of 10.00%, the EMI calculated for this loan amount would be ₹ 22,718 and the total annual EMIs to be paid annually is ₹ 2,72,610. The Reliance Home Loan EMI schedule 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 ₹ 1,45,499 ₹ 13,524 ₹ 1,59,023 ₹ 24,86,476
2022 ₹ 2,47,518 ₹ 25,092 ₹ 2,72,610 ₹ 24,61,384
2023 ₹ 2,44,891 ₹ 27,719 ₹ 2,72,610 ₹ 24,33,665
2024 ₹ 2,41,988 ₹ 30,622 ₹ 2,72,610 ₹ 24,03,043
2025 ₹ 2,38,782 ₹ 33,829 ₹ 2,72,610 ₹ 23,69,214
2026 ₹ 2,35,239 ₹ 37,371 ₹ 2,72,610 ₹ 23,31,844
2027 ₹ 2,31,326 ₹ 41,284 ₹ 2,72,610 ₹ 22,90,560
2028 ₹ 2,27,003 ₹ 45,607 ₹ 2,72,610 ₹ 22,44,953
2029 ₹ 2,22,228 ₹ 50,383 ₹ 2,72,610 ₹ 21,94,570
2030 ₹ 2,16,952 ₹ 55,658 ₹ 2,72,610 ₹ 21,38,912
2031 ₹ 2,11,124 ₹ 61,487 ₹ 2,72,610 ₹ 20,77,425
2032 ₹ 2,04,685 ₹ 67,925 ₹ 2,72,610 ₹ 20,09,500
2033 ₹ 1,97,573 ₹ 75,038 ₹ 2,72,610 ₹ 19,34,462
2034 ₹ 1,89,715 ₹ 82,895 ₹ 2,72,610 ₹ 18,51,567
2035 ₹ 1,81,035 ₹ 91,575 ₹ 2,72,610 ₹ 17,59,992
2036 ₹ 1,71,446 ₹ 1,01,164 ₹ 2,72,610 ₹ 16,58,828
2037 ₹ 1,60,853 ₹ 1,11,758 ₹ 2,72,610 ₹ 15,47,070
2038 ₹ 1,49,150 ₹ 1,23,460 ₹ 2,72,610 ₹ 14,23,610
2039 ₹ 1,36,222 ₹ 1,36,388 ₹ 2,72,610 ₹ 12,87,222
2040 ₹ 1,21,941 ₹ 1,50,670 ₹ 2,72,610 ₹ 11,36,553
2041 ₹ 1,06,164 ₹ 1,66,447 ₹ 2,72,610 ₹ 9,70,106
2042 ₹ 88,734 ₹ 1,83,876 ₹ 2,72,610 ₹ 7,86,230
2043 ₹ 69,480 ₹ 2,03,130 ₹ 2,72,610 ₹ 5,83,100
2044 ₹ 48,210 ₹ 2,24,400 ₹ 2,72,610 ₹ 3,58,700
2045 ₹ 24,712 ₹ 2,47,898 ₹ 2,72,610 ₹ 1,10,802
2046 ₹ 2,785 ₹ 1,10,802 ₹ 1,13,588 -₹ 0

Each Reliance Home Loan EMI consists of both amounts of interest as well as the principal repaid. The interest component of EMI goes down while the principal component goes up in both cases while doing the calculation.

As you assess the amortization table, you will find that by the end of 1st year 8.68% of your EMI has been used to repay the principal amount. This means that the remaining 91.32% of the EMI went into interest payment. Thus, you end up paying only 0.95% of the loan amount of ₹ 25 Lakh after paying 12 EMIs in the first year to Reliance.

In year 25, the interest component of Reliance EMI is around 5.21%, while the principal component is around 94.79%. Upto 25 years, you have cumulatively repaid 100% of your total Reliance Home Loan.

Reliance Capital Home Loan Interest Rate Calculator

EMI calculator home loan Reliance Capital can also be used as an Reliance Capital interest rate calculator to determine the total interest you will pay on a housing loan at different loan tenure.

Home Loan EMI for ₹ 1 Lakh loan amount at lowest 10.00% interest rate offered by Reliance Capital for different tenures
Calculated Results for Reliance Capital Home Loan EMI 5 years 10 years 15 years 30 Years years
Reliance Capital EMI for a loan amount ₹ 1 lakh at 10.00% ₹ 2,125 ₹ 1,322 ₹ 1,075 ₹ 878
Total amount you pay back to the bank including principal and interest ₹ 1.27 Lakh ₹ 1.59 Lakh ₹ 1.93 Lakh ₹ 3.16 Lakh
Interest you have to pay during the loan tenure ₹ 27,500 ₹ 58,640 ₹ 93,500 ₹ 2.16 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 ₹ 1 Lakh loan for a period of 30, you pay the lowest EMI of ₹ 878 . However, you pay an interest of ₹ 2,16,080 on a ₹ 1 Lakh loan.
In contrast, if you take a ₹ 1 Lakh loan from Reliance Capital at the lowest loan rate offered for a period of 15 years, you pay a higher home loan EMI of ₹ 2,125 and pay an interest of only ₹ 27,500 which is less than half of what you paid in a 30 Years years loan. Hence, it is advisable to choose your loan tenure wisely as longer tenure means high interest expenses. Calculation of Reliance Capital name home loan interest payout can be done using emi calculator home loan Reliance Capital

Other Loan Calculators Offered by MyLoanCare

FAQs

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

Typically, the home loan EMI remains unchanged unless you request for a change in tenure or prepay your loan amount. This however is subjected to approval by the bank. Reliance Capital home loan emi can also change in case you opt for a floating rate of interests.

What happens in case of increase or decrease in Reliance Capital interest rate?

In case the floating rate of interest on your home loan increases, the EMI will increase as per the reset frequency of your Reliance Capital 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 Reliance Capital Home loan EMI calculator 2021.

Will Reliance Capital home loan EMI change in case of prepayment?

Reliance Capital 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 Reliance Capital 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 Reliance Capital 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 Reliance Capital home loan calculator.

Why should I calculate Reliance Capital loan EMI before taking a loan?

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

What is the EMI for home loan in Reliance Capital?

The Reliance Capital EMI will vary based on loan amount, tenure, rate of interest and can be calculated using Reliance Capital home loan calculator. Based on the lowest rate of 10.00% and maximum tenure of 30 years, the Reliance Capital home loan EMI for different loan amount will be:

Loan amount EMI
₹ 10 Lakh ₹ 8,776
₹ 12 Lakh ₹ 10,531
₹ 15 Lakh ₹ 13,164
₹ 30 Lakh ₹ 26,327
₹ 50 Lakh ₹ 43,879

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

How accurate is a Reliance Capital Housing Loan EMI calculator?

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

How to pay your Reliance Capital Home loan EMI Online?

To pay the EMI of Reliance Capital 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 Reliance Capital home loan EMI calculated?

The Reliance Capital 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 lakhs home loan in Reliance Capital?

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

Loan amount Interest rate Tenure EMI
₹ 10 Lakh 10.00% 10 years loan ₹ 13,215
₹ 10 Lakh 10.00% 15 years loan ₹ 12,895
₹ 10 Lakh 10.00% 20 years loan ₹ 14,475

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

Loan amount Interest rate Tenure EMI
₹ 25 Lakh 10.00% 10 years loan ₹ 33,038
₹ 25 Lakh 10.00% 15 years loan ₹ 26,865
₹ 25 Lakh 10.00% 20 years loan ₹ 24,126

What is the EMI for 12 lakhs home loan in Reliance Capital?

A borrower will pay ₹ 14,341 if he/she takes loan for 12 years at an interest rate of 10.00%. The 12 lakh home loan emi Reliance Capital may vary across Reliance Capital home loan interest rate.

How to check my home loan balance in Reliance Capital?

To check the home loan balance in Reliance Capital, a borrower should log in to the Reliance Capital net banking portal, click on ‘Loans’. Select Know balance or a borrower can use MISSED CALL BANKING or SMS Banking to know the status. You can also contact the Reliance Capital customer care at .

How can I avail income tax benefits on a Reliance Capital home loan?

You can avail income tax benefits on a Reliance Capital home loan under Section 24B, you can claim deduction for upto #&8377; 2 Lakh for the accrual and payment of interest on Reliance Capital housing loan. Under Section 80EEA, you can claim deduction for upto #&8377;1.50 Lakh for the interest payment of home loan availed during the financial year. You can declare all the information in income tax returns form and you will be able to get the benefits.

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Reliance Home Loan News - Jun 2021
  • 2017-05-06 : Reliance Capital receives no objection from the BSE and NSE for demerger
    Reliance Capital Limited has received ‘no-objection’ from both the BSE and NSE for demerger of Reliance Home Finance. The company has further reported that it has filed the scheme of demerger with the National Company Law Tribunal (NCLT) for facilitating the independent listing of the home finance unit on stock exchanges.
  • 2015-12-17 : Reliance Housing Finance targets Rs 50,000 crore AUM by 2020
    Reliance is targeting AUM of Rs 50,000 crore by 2020 as it aims to join top-five league in the home loan market in 3 years
  • 2015-12-14 : Reliance Housing Finance eyes slot in top 5
    Reliance Housing plans to be amongst the top five HFCs in the next 3 years with a target AUM of Rs 50,000 crore by 2020
  • 2015-11-04 : Reliance Housing Finance lowers home loan rates to 9.55%
    Reliance Housing Finance has announced a 25 basis point reduction in its lending rates to 9.55% matching with the rates offered by Indiabulls and DHFL
*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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