About Home Loan EMI Calculator
Buying a home is the ultimate dream for many but with rising costs its important to know if you can afford paying the monthly EMIs. Our Home Loan EMI Calculator will provide you estimates of how much you will pay monthly, in total interest and amount over the years
Home Loan EMI Calculator
EMI: ?0
Principal Amount: ?0
Total Interest Payable: ?0
Total Payment (P+I): ?0
Example Home Loan EMI Calculation
Let’s say you want to buy a 2BHK house in Pune then it will likely cost you 70 Lakhs onwards. If you get a loan for the entire amount at 8% interest p.a. and for 30 years then your EMI will be:
70,00,000 x (8/12/100) x (1+(8/12/100))360
[ (1+(8/12/100))360 -1]
= Rs 51,364
For this loan, below are some useful numbers to help with decision
Total Payable Interest = Rs. 1,14,90,867
Total Payable Amount = Rs. 1,84,90,867
For details on the EMI calculation formula please click here
Home Loan Interest Rate: Some Popular Banks
Based on the internet research here are the home loan interest rates from some popular banks in India
| Bank | Home Loan Interest Rate starting |
| SBI Bank | 8.40% p.a. onwards |
| Bank of Baroda | 8.40% p.a. onwards |
| HDFC Bank | 8.50% p.a. onwards |
| ICICI Bank | 9.00% p.a. onwards |
| Axis Bank | 9.00% p.a. onwards |
2BHK Home Price: Indian Tier 1 cities
Based on the internet research here are the typical prices for a 2BHK house in tier 1 cities within India
| City | Home Price Range |
| Mumbai | Rs. 85 Lakhs onwards |
| Pune | Rs. 70 Lakhs onwards |
| Hyderabad | Rs. 70 Lakhs onwards |
| Bangalore | Rs. 72 Lakhs onwards |
| Chennai | Rs. 61 Lakhs onwards |
Other useful links
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Disclaimer: Information on gyaankashti.com is for reference only. Amounts may differ slightly due to rounding. Please report any calculation errors in the comments.
