## How to Use Home Loan EMI Calculator?

Using our Home Loan EMI Calculator, you can calculate how much monthly and total expenditure you really incur by purchasing a home using your bank home loan.

**Home Loan Details** includes single premium loan insurance and processing fees.

**Home Value**is the actual price of the home you purchased (i.e., sale deed value).**Down Payment, aka Margin**, is the total money you paid to the seller or builder from your own pocket, entered either in Rupees or as a percentage of Home Value.**Loan Insurance**is the single premium amount, for the Home Loan Protection Plan (HLPP) OR Term Insurance Plan, that gets included in your home loan amount. If you want to guesstimate this amount, use the LIC premium calculator to calculate yearly premium for eTerm plan using your age, loan term and loan amount for Sum Assured. You then multiply this number by your loan tenure.**Loan Amount**is calculated as**Home Value + Loan Insurance — Down Payment**.**Interest Rate**is…the 10th wonder of the world! When its compounded, it ranks 8th.**Loan Fees & Charges**includes Processing Fees, Administrative Charges etc. along with service taxes, entered either in Rupees or as a percentage of Loan Amount.

**Homeowner Expenses** can be entered either in Rupees or as a percentage of Home Value. You will not pay property taxes and home insurance premium each month, but it is included in the total monthly payment with the assumption that you are setting aside this amount (either through Recurring Deposit or some other means) every month. This will ensure that you will have the necessary money to make the payment once or twice a year. Please note that the recurring expenses will change over the lifetime of the home loan due to inflation and other factors. They will also continue beyond the home loan tenure. You should consider all these factors, especially when making a Rent vs. Buy decision.

**One-time Expenses**can include Registration Fees, Stamp Duty, bribe you paid to that pan chewing Govt Babu, money you spent on sprucing up your new home and performing a lavish house warming ceremony (after all, this is a great occasion for your spouse to show off in front of his/her friends & relatives).**Property Taxes**is the annual payment that you grudgingly make to your local municipal body.**Home Insurance**is the yearly premium you pay to insure your home—if it isn’t already covered by loan insurance plan.**Monthly Maintenance Expenses**is what you pay to keep your apartment shining, clean and ‘water-full’. If its an independent house, you can assume your annual maintenance expenditure to be about one percent of your home value. Divide this number by 12 to arrive at monthly maintenance amount.

**Prepayments** help you pay off your loan faster and reduce total interest cost.

We wish you an affordable home loan and a great new home!

It will help if the yearly data is for a financial year i.e. Apr to March, rather than Jan-Dec

Is it possible to compute the loan break down structure for Installment based payment [under construction property].

Also add the facility of calculation Overdraft based home loan (e.g. SBI MaxGain)

It would be great if Bi-Annually option is also shown for Prepayment section.

Try our android app with the half-yearly option: https://play.google.com/store/apps/details?id=net.emicalculator

Thanks for the update! It’s a great app. Happy to see the suggestions got incorporated.

If I have taken a home loan of Rs.1248000 (Inc. Insurance) @ 14.5% for 20 years in Dec 2014 and now I want to make a prepayment of Rs.300000/- then how much it will reduce my interest amount and the tenure. Please reply. If it will show in your above mentioned calculator then it will be better for all.

I have taken a home loan of Rs.3600000 @ 10% for 15 years in NOV 2015 and now I want to make a prepayment of Rs.900000/- then how much it will reduce my interest amount and the tenure. Please reply. If it will show in your above mentioned calculator and share to kvsathish@gmail.com

SBI home loan sanction Rs.10lac, Out of which, first I take on 17/05/2016 Rs5,20,000/- Sbi debit interest(every end of month) on 31/05/2016 Rs.1998. They added Rs.520000/-+1998 total became 521998/- my emi date is 20th of every month its start from 20/06/2016. Total SBI balance amt 521998/- for 10day interest calculated.

my question is IS MY EMI DATE IS WRONG I SELECTED ? HOW THEY CALCULATE INTEREST ON INTEREST AMOUNT ? AVDHOOT@YAHOO.COM

You are probably talking about SBI Max Gain. Please read this article: http://emicalculator.net/sbi-maxgain-why-should-you-choose-this-home-saver-loan

My Suggestions: It would be great if there is an option to provide one time only pre-payment any number of times because people will prepay one time amount whenever they have extra amount with them. Another suggestion is there can be an option to increase the pre-payment say by ‘X’ percentage for Month, Quarter, Half year and Year.

Otherwise this is a great app and a big thanks to the team. !

It would have been great if multiple options for Prepayment would have been provided like with the date and time.. as it would not be constant.. ppl wud put in funds when they it.. not regularly as they do for EMI

great calc..(clap clap) thanks.

I have availed a loan and they are ready for a moratorium period of 1yr, during which i have to only pay the interest.

But after 1 yr what will be the emi that i will have to pay.

I know the formula to calculate emi without any moratorium availed.

Does anyone know the formula to calculate emi , with moratorium period ?

SIr please make a widget for wordpress site for home loan emi calculator .