Home Loan EMI Calculator

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Home Loan Calculator

Are you planning to renovate your home or looking to buy a new one? We have got the best home loan options for you. With our home loan calculator, you can calculate home loan interest and EMI easily. With long repayment tenure and low-interest rates, you can avail a comfortable home loan for yourself. Our EMI’s are affordable which makes them light on your pocket. You can preempt your estimated EMI based on the loan amount and the desired loan tenor with the help of our ‘Home Loan EMI Calculator.’

What is Home Loan calculator?

A home loan calculator is a financial tool that helps you in estimating the EMI amount that you need to pay monthly for your home loan. This amazing tool also helps you to know the estimated interest that you’d end up paying for the entire home loan tenor. In a few simple steps, you will be able to calculate the home loan EMI inclusive of the interest as per the applicable rate.

What is a home loan EMI?

EMI stands for Equated Monthly Instalment. EMI is the monthly payment that a home loan borrower agrees to pay throughout the home loan tenor. The EMI is a total of the fraction of principal amount payable and the interest payable for a month. 

Factors that can affect your home loan EMI

    • Principal– The principal is basically the loan amount that you take from the lender. It is directly proportional to your EMIs – lower principal will lower your monthly installments and vice versa.
    • Rate of interest– The rate of interest refers to the rate at which the lender offers you the home loan. It is also directly proportional to the value of your loan EMIs.
    • Tenure– The tenor or the duration refers to the time within which borrower agrees to repay the loan. The tenor is inversely proportional to your loan EMIs – longer tenor makes the monthly installments lower and vice versa. With a longer loan tenor, one ends up paying higher interest as the number of installments or EMIs increase and with the shorter loan duration, the interest is low.

How is EMI calculated?

The mathematical formula for calculating EMIs is
 [P x R x (1+R)^N]/[(1+R)^N-1] 

‘P’ represents the loan amount or principal
‘N’ is the number of monthly installments
‘R’ is the interest rate per month. Therefore, if the rate of interest per annum is 11%, then the value of
‘R’ will be 11/ (12 x 100) 

Calculating EMI for your home loan

Calculating the EMI amount of your home loan is fairly easy. You just need to enter the amount you require, the tenure (in months, and not years), and the rate of interest, in the required fields.

Stable and safe finances are always secured with good planning. Calculating and knowing your home loan EMI in advance lets you have a better understanding to plan the money you will have to spend every month. You can accordingly do the long-term and short-term financial planning to pay the EMIs and manage the regular expenses. 

What are the advantages of a home loan EMI calculator?

A home loan EMI calculator helps you to decide whether you can pay for the financial commitment of the home loan in the long term. If you wish, you can decrease or increase your monthly EMI amount depending on the amount of funds you opt for.

Other than these, there are several advantages of using this calculator. Some of them are:

    • Easy access 24/7
    • Online use without any expert’s guidance
    • Easy-to-use without any technical or mathematical skills
    • Queries and doubts answered within seconds
    • Time and energy saving as compared to manual EMI calculations
    • Gives you a clear idea so that you can plan your budget accordingly

Tips to Minimise Your Home Loan EMIs

    • Pay a higher down payment
    • Choose a long repayment tenure, though this may increase your interest outgo
    • Opt for a floating interest rate, which may reduce your EMIs over time
    • Negotiate for a lower interest rate
    • Calculate your EMIs using our home loan EMI calculator and choose a loan plan as per your monthly budget
    • Pay off high interest loans first
    • Maintain a high credit score
    • Opt for home loan balance transfer

Factors that Affect Your Home Loan EMIs

Major factors that affect your home loan EMIs are:

    • Lending rate at the time of loan application
    • Loan amount you apply for
    • Type of interest you opt for
    • Loan to value ratio of your property
    • Your Credit score
    • Your job profile
    • The location of your property

What Type of Interest Rate Can I Opt for?

Clix Capital allows you to choose from two different types of interest rates:

    1. 1. Floating interest rate for the entire loan term
    2. 2. Fixed interest rate for the first 2-3 years, and then floating interest rate for the rest of the loan term

Floating interest rate keeps changing with the market rate, and so do your EMIs. In the second option, the interest rate remains fixed for the first 2-3 years, and then starts changing with the market rate for the rest of the loan term.


What are the documents required for home loan?

The documents you need are:

    • Completely filled application form
    • Passport Size Photograph
    • Identity Proof
    • Address Proof
    • Salary Slips (refer here for the detailed list of documents required)

What is a home loan amortization schedule?

A home loan amortization schedule is a record/ table that details all the periodic payments of your home loan. This gets generated through an amortization calculator. Amortization basically refers to the procedure of repaying a loan through regular payments over a duration of time. It tallies the loan payment with the principal amount and rate of interest in every payment till the loan is repaid in full

What is the tenure and interest rate of the home loan from Clix Housing?

At Clix, we provide you with home loans for a tenure of 15 years – however, this figure is dependent on the age and income of the borrower. The applicable rate of interest is decided by the eligibility, credit profile, and other factors.

How to get a home loan from Clix Housing?

Simply visit us at home loan. Enter your phone number and click on Apply Now.

What types of home loans does Clix Housing offer?

You can choose from the following types of home loans:

    • Home loan for a ready or under-construction residential property.
    • Balance transfer and top-up on your existing loan from any other housing finance company or bank.

A home renovation loan for all your requirements pertaining to improving your house

Can part-prepayments impact EMIs?

Part-prepayment helps in bringing down your principal amount, which in turn can lower the interest amount that you have to pay, which results in lower EMI amounts overall.

How to use a home loan calculator?

Using the home loan EMI Calculator is a very simple process. All you need to do is follow the following steps

    • Click to go the Home Loan Calculator page
    • Fill in the details requested

That’s all! You will instantly get an estimate of the home loan EMI amount along with the interest amount payable on the loan.

When will my home loan EMI start?

Your home loan EMI begins from the month following the disbursement of the home loan. For loans for under-construction homes, EMI usually begins after the complete home loan is disbursed but customers can choose to begin their EMI as soon as they avail their first disbursement. In a home resale scenario, the full amount is disbursed and the EMI starts from the succeeding month of disbursement.