Home Loan EMI Calculator

Calculate your Home Loan EMI in a single click!

Check your home loan EMI online using Nestaway’s Home Loan EMI Calculator

Loan Amount

₹

₹ 1,00,000

₹ 10,00,00,000

Tenure (Years)

Interest Rate (% P.A.)

Home Loan EMI

21,538

Principal Amount

25,00,000

Interest Amount

26,69,120

Total Amount

51,69,120

The Nestaway's - Home Loan EMI Calculator

Buying a house is not just a financial decision; it's an emotional journey that demands thoughtful planning—especially when it comes to choosing the right EMI plan. You need a payment structure that fits seamlessly into your life without causing unnecessary stress.

Manually calculating EMIs can be complex, prone to errors, and time-consuming. That's why we've created the Nestaway Home Loan EMI Calculator—a reliable and easy-to-use tool that delivers accurate results in seconds.

Loan EMI Calculator—a reliable and easy-to-use tool that delivers accurate results in seconds.

Our EMI calculator helps you:

Plan your monthly payments effectively.
Understand the ideal EMI amount and the optimal loan tenure.
Get a clear picture of key details such as:
- Monthly Loan EMI
- Principal Amount
- Total Interest Payable
- Total Amount Payable

Whether you're an existing borrower or exploring home loans for the first time, our calculator is designed to empower you with the insights you need to make informed financial decisions.

Components of the EMI Calculator

To use the Nestaway Home Loan EMI Calculator, have the following details ready:

Loan Amount: Enter the total amount you plan to borrow in the field labeled "Loan mount." This is the principal sum on which your EMIs will be calculated.
Tenure: Specify the time period over which you intend to repay the loan.Tenure is displayed in years and months, giving you flexibility to adjust your repayment schedule.
Rate of Interest: Enter the applicable interest rate for your loan. Keep in mind that interest rates vary between lenders and may change during the loan period.

How is Home Loan EMI Calculated?

The Nestaway Home Loan EMI Calculator simplifies the process of calculating your EMI with accuracy and speed.

When calculating EMIs manually, three main components need to be considered:

P- Principal loan amount
R- Rate of interest
N- Loan tenure in months
The formula for calculating EMI is: EMI = [P × R × (1 + R)^N] / [(1 + R)^N – 1]

Breaking It Down:

R= Annual rate of interest/12/ 100

For instance, if the annual interest rate is 6.5%, then:

R= 6.5/12/100= 0.005

Example Calculation:
Suppose you take a loan of ₹20,00,000 at an annual interest rate of 6.5% for a tenure of 10 years (120 months).

Using the formula:
EMI = ₹20,00,000 × 0.005 × (1 + 0.005)^120 / [(1 + 0.005)^120 – 1]
After calculation, the monthly EMI will be approximately ₹10,000.

Start Your Home Loan Process Today!

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+91

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Loan Amount

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Estimate the monthly cost of your entire loan

With the EMI Calculator, you can easily estimate the monthly amount you'll need to pay towards your loan. This gives you a clear understanding of your monthly financial commitment, helping you budget and manage your finances effectively. By knowing your exact EMI, you can ensure timely payments, avoid late fees, and stay on track with your repayment plan.

Track and Manage Your
Debt-to-Income Ratio

Using the EMI Calculator, you can calculate your debt-to-income ratio, which helps you understand how much of your monthly income goes toward paying off your loans. This insight allows you to make adjustments to your repayment strategy, ensuring you don't stretch your finances too thin. Keeping a balanced ratio means you can comfortably manage other financial obligations while staying on track with your loan.

Adjust Loan Amount or Loan Tenure

The EMI Calculator allows you to estimate your monthly payments based on your loan amount and the loan tenure. By experimenting with different loan amounts or repayment periods, you can find a plan that fits your budget. If your monthly payments feel overwhelming, consider extending the loan tenure to reduce your monthly obligations. This can give you more breathing room, making your payments more manageable without compromising your financial stability.

Frequently Asked Questions

We're here to answer your questions.

Which bank will give the best ROI ?

The Rate of Interest (ROI) varies based on factors such as your CIBIL score, income, age, and overall financial profile. If you meet all the eligibility criteria set by the lenders, you can qualify for the lowest rates available in the market. At present, the lowest ROI in the market is 8% per annum, but this is subject to meeting all conditions specified by the bank. It's advisable to compare offers from multiple banks and financial institutions to ensure you secure the best rate tailored to your requirements.

What are the factors that primarily affect loan eligibility?

Loan eligibility is determined by several key factors, including:

Cumulative Net Monthly Income: The combined net monthly income of the applicant and any co-applicants plays a significant role in determining eligibility.
Existing Debt Obligations: The total outstanding loans and credit card dues already in your name can impact your eligibility.
EMI-to-Income Ratio: Most banks follow a guideline where the total EMI obligations, including the proposed home loan, should not exceed 60-70% of your net take-home salary.

My loan got rejected even though I have a decent income?

The final decision to grant a loan rests with the bank's credit department, and there can be several reasons for rejecting a home loan request. While income is a significant eligibility criterion, other common issues include:

Possible Issues / Reasons for Rejection	Possible Way Out
Several ongoing loans	If your spouse is also working, you can add her as a co-applicant to increase the combined income levels. Try to pay off some of your debts to reduce your leverage. Opt for a balance transfer, debt consolidation, or refinancing of your existing loans to lower the interest rates and make room for additional borrowing.
Issues in your credit history as reflected in your CIBIL, Equifax reports	If the issue is minor, such as a delay in the payment of a credit card due, we can submit your application to another bank that may take a lenient view of the deviation. If you believe the credit report contains errors and have sufficient documentary proof, we will represent your case to the bank and attempt to convince the credit team. If the issue is significant, such as a write-off or settlement of past dues, obtaining a loan may be challenging. However, specific mitigating factors, such as if you, your spouse, or your parents own a house in India, can provide reassurance to certain banks and improve the chances of approval.
Not meeting the minimum cut-off for or hidden internal credit parameters crucial to evaluating a loan request	Nestaway (in association with AurumKuberX) can re-apply for your loan in one of the other 30 plus lenders that we are affiliated with

What is the difference between Pre Closure & Part Prepayment?

Pre-closure refers to a situation where the customer wants to settle the entire outstanding principal amount in one lump sum. Part prepayment, on the other hand, means the customer intends to repay only a specific portion of the due amount. Please consult our advisor for more details once your loan is processed.

Is Pre-Payment or Part Payment allowed in a loan?

Yes, home loan pre-closures are allowed without extra charges, provided the repayment mode you have chosen is a floating rate of interest and not a fixed one. For part payments, some banks may impose restrictions on the number of times you can make a part payment per year, as well as the amount you can repay in total within a year. Please connect with our financial advisors or the bank's loan advisor to clarify these factors before signing the loan document.