Plan Your Home Loan with Confidence
Buying your dream home is exciting — but it demands careful budgeting. Our Home Loan EMI Calculator shows your monthly outflow in seconds so you know exactly what fits your pocket before you apply.
Most Indian homebuyers rely on housing credit. With prices rising, it’s smart to evaluate your options first — amount, tenure, interest type, and prepayment strategy. This tool helps you do exactly that with clarity.
What Is a Home Loan EMI?
An EMI (Equated Monthly Instalment) is a fixed monthly payment that repays your loan over time. Each EMI contains two parts — an interest share and a principal share. Early on, interest is higher. As the balance falls, the principal share rises.
How the EMI is Calculated
Formula: E = [P × R × (1 + R)N] ÷ [(1 + R)N − 1]
- E = EMI per month
- P = Loan amount (principal)
- R = Monthly interest rate (annual ÷ 12 ÷ 100)
- N = Total months (tenure × 12)
Try different combinations to see what works for you. Even a small change in interest rate or tenure can shift your EMI and total interest meaningfully.
Why Use the ClickLends EMI Calculator?
- Immediate results: No manual math or spreadsheets.
- Accurate estimates: Uses standard banking formulas.
- Scenario testing: Change tenure, rate, or amount in seconds.
- Smart prepayment tools: Add extra EMIs, yearly or one-time lumpsums, and step-ups.
- Free & unlimited: Plan as much as you want — anytime.
Reduce Tenure or Reduce EMI — Which is Better?
If you can afford it, reducing tenure usually saves more interest and helps you close the loan sooner. Reducing EMI lowers monthly burden — helpful if income is tight. Our calculator lets you model both approaches easily.
Home Loan EMI – FAQs
What is an EMI?
EMI stands for Equated Monthly Instalment — the fixed amount you pay every month until your home loan is fully repaid. It includes both interest and principal.
How does this calculator work?
Enter your loan amount, interest rate, and tenure. The tool applies the standard banking formula and shows your EMI, total interest, and schedule. You can also add prepayments and step-ups to see savings.
Can I lower my EMI or finish the loan earlier?
Yes. Prepay with extra EMIs or lumpsums. Choose to reduce the tenure (finish faster, save more interest) or reduce the EMI (lower monthly outflow).
Is my EMI fixed for the whole tenure?
With a fixed-rate loan, EMIs stay constant. With floating rates, they may change when the bank revises rates.
Are there prepayment charges?
Many lenders don’t charge on floating-rate home loans; some fixed-rate loans may have fees. Please check your lender’s policy.
How many times can I use the calculator?
As many as you like. It’s free and unlimited.
Does it apply to other loans?
Yes. You can estimate EMIs for personal, vehicle, or education loans by adjusting the inputs.