Dena Bank Home Loan EMI Calculator

Highlights

  • Check your EMI with the loan calculator.
  • Know your payments in advance for free.

A loan EMI calculator will help you in making the right choice of the lender. Since the home loan has the maximum tenure of 25 years, if you are prepared for the payments in advance, you can actually pay the amount without affecting your other financial liabilities. The comparison table in the form of graphical representation is available below which shows the payments for the default value. You can change the values as per your research and see different values.

EMI Calculator forHome Loan
Loan Amount (₹)
Interest Rate (%)
Tenure(year)
Results
Loan Amount
Interest Rate
Tenure(Months)
Monthly Instalment (EMI)
Total Interest Amount
Total Amount (Principal + Interest)
YearPrincipalInterestBalance Amount

How can you calculate your EMI?

The calculation of EMI is done with the help of the details like the loan amount, interest rate and the tenure. Suppose you are taking a home loan of ₹15 lakhs and have been offered the rate of 12.45% per annum and the tenure you have chosen is 10 years, the payments you will have to make is as follows:

Table Showing EMI, Interest Outgo, and Total Repayment Amount

Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
₹ 15,00,00012.45%1₹ 1,33,589₹ 1,03,070₹ 16,03,070
₹ 15,00,00012.45%2₹ 70,926₹ 2,02,220₹ 17,02,220
₹ 15,00,00012.45%3₹ 50,144₹ 3,05,201₹ 18,05,201
₹ 15,00,00012.45%4₹ 39,833₹ 4,11,983₹ 19,11,983
₹ 15,00,00012.45%5₹ 33,709₹ 5,22,526₹ 20,22,526
₹ 15,00,00012.45%6₹ 29,677₹ 6,36,779₹ 21,36,779
₹ 15,00,00012.45%7₹ 26,841₹ 7,54,680₹ 22,54,680
₹ 15,00,00012.45%8₹ 24,752₹ 8,76,158₹ 23,76,158
₹ 15,00,00012.45%9₹ 23,159₹ 10,01,134₹ 25,01,134
₹ 15,00,00012.45%10₹ 21,913₹ 11,29,518₹ 26,29,518

EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

YearPrincipalInterestBalance Amount
1₹ 80,703₹ 1,82,248₹ 14,19,296
2₹ 91,345₹ 1,71,606₹ 13,27,950
3₹ 1,03,389₹ 1,59,562₹ 12,24,561
4₹ 1,17,022₹ 1,45,930₹ 11,07,538
5₹ 1,32,452₹ 1,30,500₹ 9,75,086
6₹ 1,49,916₹ 1,13,035₹ 8,25,169
7₹ 1,69,684₹ 93,267₹ 6,55,485
8₹ 1,92,058₹ 70,894₹ 4,63,427
9₹ 2,17,382₹ 45,570₹ 2,46,045
10₹ 2,46,270₹ 16,907₹ 0

What is the formula used for EMI calculation?

Even though the calculation looks simple, the formula with which the calculator shows the results is as follows:

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
where,
EMI = Equated Monthly Installment
P = Principal Loan Amount
R = Monthly Interest Rate
N = Number of Monthly Installments

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EMI Calculator