Home Loan Calculator

Home Loan Calculator

Please enter the following home loan information

Home Loan Calculator
  • ₹1Lac = ₹1,00,000
  • ₹1Cr = ₹1,00,00,000
  • You can use Lac or Cr in the below input, it will convert to number automatically
Home Loan Calculation Results (loan amortization)

Home Loan Repayment Schedule (monthly)

Number of installmentsOutstanding Principal (₹)Principal Component (₹)Interest Component (₹)Repayment (₹)
"Home Loan Calculator" Supplementary Information

What is "Home Loan Calculator"?

The "Home Loan Calculator" is used to calculate monthly home loan repayments, total home loan interest expenses, home loan charts, and more without the need for MS Excel (spreadsheet).

Congratulations! The fact that you came to use the "Home Loan Calculator" means that you are preparing to buy a house! Unless you can pay the full amount at once, you will need a bank or financial institution. There are many banks or financial institutions that provide home loans and mortgage in the market, and no matter what kind of loan, the most important thing is the annual interest rate. How can you calculate the monthly repayment amount for a home loan based on the annual interest rate? There will be a detailed explanation below.

Home Loan Calculations Based on Annual Interest Rate

The formula for calculating home loan based on the annual interest rate is as follows:

Home Loan Calculation Formula(Base on Annual Interest Rate)

  • A represents the monthly repayment amount (or Equated Monthly Installment [EMI for short])
  • P represents the home loan amount (how much money you borrowed)
  • r represents the annual interest rate of the home loan (%) divided by 12, as there are twelve months in a year
  • n represents the number of repayment months

If I borrowed a home loan of ₹5,000,000 from a bank with an annual interest rate of 2.5% and a repayment period of 20 years, then my monthly repayment amount would be:

Home Loan calculation example
Home Loan calculation example

Rule of 78

Home Loan borrowers should be careful not to assume that the principal amount repaid each month is the same! Regardless of whether the bank/financial institution uses the "straight-line method" or the "Rule of 78", the proportion of interest paid is higher at the beginning of the repayment. Therefore, if you choose to repay early, you need to pay attention to the remaining principal and any early repayment fees that may be incurred.
I will explain what the "Rule of 78" means.

The "Rule of 78" is derived as follows:

It is named after using a 12-month repayment period. How does 78 come about? Let's see follows:

Rule of 78

That's it, the total interest for the entire period is divided into 78 parts. In the first month, you pay 12/78 of the interest, in the second month, you pay 11/78 of the interest, and so on. Therefore, the proportion of interest to principal in the monthly repayments is not consistent, with more interest paid at the beginning and less interest paid later.


If you borrow a home loan for period of 20 years:

Rule of 78

Similarly, the total interest for a 20-years home loan will be divided into 28920 parts. In the first month, you pay 240/28920 of the interest, in the second month, you pay 239/28920 of the interest, and so on.

The calculation results from the "Home Loan Calculator" are for reference only. Before borrowing, you must first consult the relevant banks or financial institutions for accurate information!

Credit score rating in India

Credit score rating (CIBIL score) is very important when you borrow money, it is because if your credit score rating is too low, you may not be able to borrow money! For more information about credit score rating, please visit the below websites:
CIBIL Score - How to Check, Calculate and Improve Credit Score
CIBIL Score | Credit Score | Credit Report | Loan Solutions | CIBIL

List of banks in India

No. Bank Name Bank website
1 Allahabad Bank https://www.allahabadbank.in/
2 Axis Bank https://www.axisbank.com/
3 Bank of Baroda https://www.bankofbaroda.in/
4 Bank of India https://www.bankofindia.co.in/
5 Bank of Maharashtra https://www.bankofmaharashtra.in/
6 Canara Bank https://www.canarabank.com/
7 Central Bank of India https://www.centralbankofindia.co.in/
8 HDFC Bank https://www.hdfcbank.com/
9 ICICI Bank https://www.icicibank.com/
10 IDBI Bank https://www.idbibank.in/
11 Indian Bank https://www.indianbank.in/
12 Indian Overseas Bank https://www.iob.in/
13 Jammu & Kashmir Bank Ltd https://www.jkbank.com/
14 Punjab and Sind Bank https://www.psbindia.com/
15 Punjab National Bank https://www.pnbindia.in/
16 State Bank of India https://www.sbi.co.in/
17 UCO Bank https://www.ucobank.com/
18 Union Bank of India https://www.unionbankofindia.co.in/
19 Yes Bank Ltd. https://www.yesbank.in/
20 Saptagiri Grameena Bank https://www.saptagirigrameenabank.in/
21 Arunachal Pradesh Rural Bank https://www.apruralbank.co.in/
22 Dakshin Bihar Gramin Bank https://www.dbgb.in/
23 Uttar Bihar Gramin Bank https://www.ubgb.in/
24 Chhattisgarh Rajya Gramin Bank https://www.cgbank.in/
25 Baroda Gujarat Gramin Bank https://www.bggb.in/
26 Saurashtra Gramin Bank https://www.sgbrrb.org/
27 Sarva Haryana GB https://shgb.co.in/
28 Karnataka Gramin Bank https://karnatakagraminbank.com/
29 Kerala GB https://keralagbank.com/
30 Meghalaya Rural Bank http://www.meghalayaruralbank.co.in/
31 Mizoram Rural Bank https://www.mizoramruralbank.in/
32 RRB Puduvai Bharathiar GB https://www.puduvaibharathiargramabank.in/
33 RRB Punjab GB https://pgb.org.in/
34 Baroda Rajasthan Kshetriya Gramin Bank https://pgb.org.in/
35 Rajasthan Marudhara Gramin Bank https://www.rmgb.in/
36 Andhra Pradesh Grameena Vikas Bank https://www.apgvbank.in/
37 Telangana Grameena Bank https://tgbhyd.in/
38 Prathama U.P. Gramin Bank https://prathamaupbank.com/
39 Prathama UP GB https://prathamaupbank.com/
40 Uttarakhand Gramin Bank https://www.uttarakhandgraminbank.com/
41 UTTARBANGA KSHETRIYA GRAMIN BANK https://www.ubkgb.org/
42 Tamilnad Mercantile Bank Ltd https://www.tmb.in/
43 SOUTH INDIAN BANK https://www.southindianbank.com/
44 City Union Bank https://www.cityunionbank.com/
This "Home Loan Calculator" allows you to easily calculate home loan details. If you find this "Home Loan Calculator" useful, please feel free to share! Thank you!

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