Home Loan EMI Calculator
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PNB Housing
Home Loan EMI Calculator
Your EMI is
Interest amount₹ 2,241,811
Total amount payable₹ 4,241,811
PNB Housing
Amortization Chart
Amortization is paying off your loan over time in equal installments. As the term of your home loan progresses, a larger share of your payment goes toward paying down the principal until the loan is paid in full at the end of your term. This chart explains what you pay every year towards principal and interest amount
Home Loan Journey
How to proceed ahead
Wait! Before you begin the Home Loan application process, you should think about a few additional things. We have prepared checklist for you to save you time!
Check your Credit Score
Looking to unlock the doors to your dream home? Get started by checking your credit score today to see if you qualify for a housing loan. Don't miss out on this crucial step in the home buying process! Check your Credit ScoreDetermine Your Eligible Loan Amount
Discover how much you can borrow with our easy loan calculator! PNB Housing provides home loan up to 90%* of the property cost. Find out your eligible loan amount now. Check Your Eligible Loan Amount Step02Get Your Home Loan In – Principle Sanction letter
With our quick process, you can get your In – Principle sanction letter in just 3 minutes, so that you can focus on finding your dream home with confidence. Get Instant approval in 3 minutesCheck PNB Housing approved projects
Check the property which you’re purchasing is approved for fundingSimplify Your Application Process with Documentation
PNB Housing understands that the application procedure can be difficult. That is why, based on your credit score, we take a flexible approach and provide personalised assistance on the necessary documentation. Check the Comprehensive List of Required Documents3 minutes, hassle-free!
Overview of
Home Loan EMI Calculator
interest rate, and the loan term and click ‘Calculate’. Our EMI calculator will generate an approximate amount based on your input. Say
goodbye to manual errors and tedious calculations; use our calculator to plan your home loan within seconds. Contact our customer service
experts for more information and guidance on home loans.
major portion of the EMI comprises interest payable since the principal amount is large. As the loan matures, the interest component
decreases while the principal component gradually increases.
E = [P x R x (1+R)N ]/[(1+R)N-1]
P = Principal loan amount
R = Monthly rate of interest i.e., the percentage rate of interest divided by 12
T = Total home loan tenure in months
E = Home loan EMI
Let’s take an example. If you opt for a housing loan of INR 20 lakh at an interest rate of 7.99% p.a., and your tenure is 20 years i.e., 240
months, then your EMI can be calculated as:
EMI = 20,00,000*R*[(R+1) 240/(R+1)240-1]Now, R = (8.00/100)/12 = 0.00667
After putting the correct R-value in the formula, we get an EMI of INR 16,729. From this, you can even calculate the total amount you owe
the financial institutions after taking up a home loan.
Total amount = EMI*T = 16729*240 = INR 40,14,912/-
How to Use
Home Loan EMI Calculator
For most of us, life’s most gratifying and rewarding project is owning a house. So do you strongly covet a property but are deterred by the
bugbear of the EMI (Equated Monthly Instalments) complexities involved? Relieve yourself of the tedious and lengthy methods employed to
calculate the monthly repayment amount with the PNB Housing Finance – Home loan EMI calculator.
This simple, user-friendly tool design will instantly give you the approximate value of the monthly EMI on a Home Loan.
1. Entering the principal home loan amount you wish to take,2. Duration of loan (Loan Tenure)
3. The expected interest rate in the respective fields (ROI)
To understand how this tool will help in financing your dream home, here is a brief glimpse of the home loan EMI calculation process
functions, which variable options are available, and how the EMI calculator crunches numbers to give you the exact EMI amount to repay
each month.
This tool will calculate the EMI amount instantly giving you a reasonable idea of the monthly outflow that will contribute towards your home
loan repayment.
Benefits & Uses
Home Loan EMI Calculator
One online tool, many uses. Here’s a list of our online home loan calculator uses.
Calculate your Home Loan EMI
Figure out the Total Home Loan Interest Component
Compare Two or More Home Loan Offers
Decide the Right Tenure
Check out the Amortization Schedule
Read Updated
Frequently Asked Questions
Home loan EMI is the amount that is paid to the lender for repayment of the borrowed loan to finance your home. At the time of availing a home loan, EMI is calculated by your lending institution based on the borrowed amount, approved rate of interest, and loan tenure. Now, you can easily do it using PNB Housing’s home loan repayment calculator.
How much EMI are you eligible to pay on your home loan is determined by multiple things. These include the home loan tenure, the home loan interest rate, down payment, prepayment, monthly income, etc. By changing these values, you can arrive at the ideal monthly instalment that you can afford. This is also evident when you work out calculations on our home loan interest calculator tool by inputting different numbers against different factors.
It is understandable why you would want a reduced home loan EMI. The lower your monthly instalment, the more disposable income you have, and the more room you have to take up additional EMIs.
If you are just taking a home loan, first of all, check out how much EMI you are eligible for with a house loan calculator tool. Now, to reduce it further, consider increasing your tenure or going for better rates of interest. You can also increase your down payment component of the loan for even lower EMIs.
In case you are already serving a home loan, it is still possible to reduce your existing EMI. This depends on multiple factors:
- Make part prepayments
- Ask for better interest terms
- Consider a home loan balance transfer to a lender offering better terms
Remember, your home loan EMI is calculated based on tenure, loan amount, and interest rate. As you can see for yourself in a home loan interest calculator, changing any of these parameters will determine the EMI value. Hence, if you take a home loan of the least value, maximise the tenure and minimise the interest rate, you will arrive at the minimum amount for home loan EMI.
Every time you pay a house loan EMI, it is divided into two components: the principal payment and the associated interest payment. The principal payment is essentially your home loan amount, whereas the interest is calculated based on your rate of interest. As a matter of fact, a home loan interest rate calculator always displays these two components whenever you make a calculation.
As a borrower, here’s an extremely important piece of information to remember:
Your interest component is much higher when you start paying EMIs – and keeps reducing with every payment. In the latter stage of your home loan EMI tenure, most of your EMI only comprises the principal amount component.
