Reliance Home Loan EMI Calculator

Reliance Home Loan - Lowest EMI is Rs. 878 per lakh

Last Updated 05th Dec 2016
  • Get monthly EMI as low as Rs. 878 per lakh with Reliance Capital now offering home loans with loan tenure upto 30 years.
  • Lowest home loan interest rate currently offered by Reliance Capital is 10.00%, for which the EMI per Rs. 1 lakh loan amount comes to Rs. 1,075 for a 15 year loan and Rs. 965 for a 20 year loan. Check the EMI for other tenures using the Reliance Capital home loan EMI calculator on this page.

Home Loan EMI Calculator Reliance Capital

Reliance Capital Home Loan EMI Calculator
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Reliance Home Loan EMI

  • Home Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to Reliance Capital 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 Reliance Capital offering Home Loans with loan tenure upto 30 years, the loan EMI can be as low as Rs. 878 per lakh, to make it more affordable and convenient to meet your needs. Lowest Rate of interest offered by Reliance Capital on Home Loan is 10.00%.
  • Loan Tenure
    Loan Amount (Rs.) 15 years20 years30 years
    2,500,000 26,86524,12621,939
    5,000,000 53,73048,25143,879
    7,500,000 80,59572,37765,818
    10,000,000 107,46196,50287,757
  • 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.

Reliance Home Loan EMI calculator formula

P*r* (1+r)^n/([(1+r)^n]-1)
Here is an illustration of how Reliance Capital Home Loan EMI is calculated:
In above formula,
P = Loan amount. This can range from Rs. 1,500,000 to Rs. 50,000,000
r = Rate of interest per month. Current rate is 10.00%, which is linked to Reliance PLR
n = tenure in month. For Reliance Capital, this can be 360 months

Will the Reliance 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 Reliance Capital 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, Reliance Capital 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 Reliance Capital, 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?

  • Reliance Capital 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.
Reliance Home Loan EMI Calculator News - Dec 2016
17th Dec 15 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
14th Dec 15 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
04th Nov 15 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
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