Calculating your home loan EMI is straightforward with SuGanta's Home Loan EMI Calculator. Follow these steps:

If you want to cross-check the EMI amount then use the following standardized formula:

E = P.r. (1+r)^n/([(1+r)^n]-1)

Here, P = Principal or Loan amount
E = applicable future EMI
r = Interest rate applicable
n = Number of EMIs or applicable tenure

For example, if any borrower avails a loan of 70 lakh for a 25-year tenure at a 8.65% p.a. rate of interest, the applicable EMI will be –

E = 70,00,000 × .0072083(1+.0072083)^300/([(1+.0072083)^300]-1)

EMI=₹57,075.23 per month.

An amortization schedule for an L&T Housing Finance Limited (HFL) home loan provides a detailed breakdown of each Equated Monthly Installment (EMI), illustrating how each payment is divided between principal repayment and interest over the loan tenure. This schedule aids borrowers in understanding the progression of their loan repayment and the reduction of the outstanding balance over time.

Consider a home loan of ₹70 lakh with a tenure of 25 years at an interest rate of 8.65% per annum.