Loan Calculator — EMI, Affordability, & Tenure

The home loan calculator allows you to calculate the monthly EMI (equated monthly installment) of your personal or home loan, as well as calculate its monthly affordability, tenure, and interest rate using its easy-to-use interface! Using this calculator will help you understand how much interest you would be paying per month on your personal or home loan and how long it would take you to pay back the loan in full. You can also see how many months you need to make payments to reduce the principal balance of your personal or home loan.

How does the loan amount affect your monthly EMI?

The loan amount and interest rate are two main factors that determine your monthly loan EMIs. While loan amount also determines how much you can borrow for a home or a car or any personal financial need, the interest rate is what decides how much of your money goes toward paying down debt and how much goes toward servicing it. So when you take out a home loan calculator to find out its affordability, you’re essentially asking yourself: How does my monthly EMI change with an increase in my loan amount?

What are your interests in the loan?

Your interest in a loan lies in its affordability and return on investment. There are many personal loan calculators out there that will help you determine how much you can borrow and how much your monthly repayments will be. However, most of these calculators are designed to give a snapshot at a particular point in time — as if it’s frozen in time and doesn’t account for any change over the period.

How long do you want to pay off your home loan?

Once you know how much your home will cost and what monthly payment you can afford to make, you’ll need to know how long it will take you to pay off your loan. Paying off a large loan in 5 or 10 years will cost more in interest than paying it off over 15 years. A variety of factors affect how long it takes to pay off a loan including total borrowed amount, fixed vs floating interest rate, and personal income/expenses. Try varying each factor in the calculation tool to see how they impact your repayment period. Once you know how long you want to take, simply click on the loan details on the personal loan calculator page to find out which loan is best for your situation.

Which tenure should you choose for your home loan?

The tenure or repayment period of a home loan is an important determinant of its EMIs and total interest outgo. Most lenders allow you to choose between a 15-year and 20-year loan tenure. However, it is recommended that you carefully consider your options before choosing one.


The ideal home loan calculator should let users calculate their monthly repayment amount as well as indicate to them whether they can afford it. It should also provide detailed information about your tenure and interest rate. This makes it possible for you to differentiate between different kinds of loans that you offer to potential customers.

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