With the help of a loan EMI calculator, you not only get payment details, it however also helps in choosing the best lender. For instance, when you think of applying for a home loan, the first thing you want to know is the interest rate you can get and for how long can you take the loan. At HSBC Bank, the maximum tenure for which you can take the loan is 25 years. The rate along with the tenure decides the EMI (of course the loan amount). Below is an example where you can change the value as per your requirement till the time you are satisfied with the combination.

HSBC Bank Home Loan EMI Calculator

An EMI calculator takes into account basic details of loan such as the loan amount, tenure and the rate of interest. Since the rate offered is the annual rate, the calculator converts it into a monthly rate by dividing it by 12 and then shows the monthly EMI, total interest outgo and the total repayment amount.

How much EMI do you have to pay?

Let us suppose you are taking a home loan from HSBC Bank. The loan amount you have taken is ₹20 lakhs and as a salaried person, you have chosen the maximum tenure of 25 years. The interest rate you have got is 8.70% per annum and now you want to check the EMIs and other payments so that you can manage your finances accordingly. Below is the tabular representation for your reference along with the amortization table which is the presentation of the remaining balance at the end of each year.

Table Showing EMI, Interest Outgo, and Total Repayment Amount

Loan Amount	Interest Rate	Tenure	Monthly Instalment	Total Interest Amount	Total Amount
₹ 20,00,000	8.70%	1	₹ 1,74,625	₹ 95,498	₹ 20,95,498
₹ 20,00,000	8.70%	2	₹ 91,094	₹ 1,86,267	₹ 21,86,267
₹ 20,00,000	8.70%	3	₹ 63,321	₹ 2,79,541	₹ 22,79,541
₹ 20,00,000	8.70%	4	₹ 49,486	₹ 3,75,312	₹ 23,75,312
₹ 20,00,000	8.70%	5	₹ 41,226	₹ 4,73,567	₹ 24,73,567
₹ 20,00,000	8.70%	6	₹ 35,754	₹ 5,74,289	₹ 25,74,289
₹ 20,00,000	8.70%	7	₹ 31,874	₹ 6,77,457	₹ 26,77,457
₹ 20,00,000	8.70%	8	₹ 28,990	₹ 7,83,049	₹ 27,83,049
₹ 20,00,000	8.70%	9	₹ 26,769	₹ 8,91,036	₹ 28,91,036
₹ 20,00,000	8.70%	10	₹ 25,012	₹ 10,01,390	₹ 30,01,390
₹ 20,00,000	8.70%	11	₹ 23,591	₹ 11,14,076	₹ 31,14,076
₹ 20,00,000	8.70%	12	₹ 22,424	₹ 12,29,060	₹ 32,29,060
₹ 20,00,000	8.70%	13	₹ 21,451	₹ 13,46,301	₹ 33,46,301
₹ 20,00,000	8.70%	14	₹ 20,630	₹ 14,65,760	₹ 34,65,760
₹ 20,00,000	8.70%	15	₹ 19,930	₹ 15,87,393	₹ 35,87,393
₹ 20,00,000	8.70%	16	₹ 19,329	₹ 17,11,154	₹ 37,11,154
₹ 20,00,000	8.70%	17	₹ 18,809	₹ 18,36,996	₹ 38,36,996
₹ 20,00,000	8.70%	18	₹ 18,356	₹ 19,64,870	₹ 39,64,870
₹ 20,00,000	8.70%	19	₹ 17,959	₹ 20,94,725	₹ 40,94,725
₹ 20,00,000	8.70%	20	₹ 17,610	₹ 22,26,510	₹ 42,26,510
₹ 20,00,000	8.70%	21	₹ 17,302	₹ 23,60,171	₹ 43,60,171
₹ 20,00,000	8.70%	22	₹ 17,029	₹ 24,95,655	₹ 44,95,655
₹ 20,00,000	8.70%	23	₹ 16,786	₹ 26,32,907	₹ 46,32,907
₹ 20,00,000	8.70%	24	₹ 16,569	₹ 27,71,872	₹ 47,71,872
₹ 20,00,000	8.70%	25	₹ 16,375	₹ 29,12,496	₹ 49,12,496

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

Year	Principal	Interest	Balance Amount
1	₹ 23,419	₹ 1,73,081	₹ 19,76,580
2	₹ 25,539	₹ 1,70,960	₹ 19,51,041
3	₹ 27,852	₹ 1,68,647	₹ 19,23,188
4	₹ 30,374	₹ 1,66,125	₹ 18,92,814
5	₹ 33,125	₹ 1,63,375	₹ 18,59,688
6	₹ 36,124	₹ 1,60,375	₹ 18,23,563
7	₹ 39,396	₹ 1,57,104	₹ 17,84,167
8	₹ 42,963	₹ 1,53,536	₹ 17,41,204
9	₹ 46,854	₹ 1,49,646	₹ 16,94,350
10	₹ 51,096	₹ 1,45,403	₹ 16,43,253
11	₹ 55,724	₹ 1,40,776	₹ 15,87,529
12	₹ 60,770	₹ 1,35,730	₹ 15,26,759
13	₹ 66,273	₹ 1,30,227	₹ 14,60,485
14	₹ 72,274	₹ 1,24,225	₹ 13,88,211
15	₹ 78,819	₹ 1,17,681	₹ 13,09,392
16	₹ 85,956	₹ 1,10,543	₹ 12,23,435
17	₹ 93,740	₹ 1,02,760	₹ 11,29,695
18	₹ 1,02,228	₹ 94,271	₹ 10,27,466
19	₹ 1,11,486	₹ 85,014	₹ 9,15,980
20	₹ 1,21,581	₹ 74,918	₹ 7,94,398
21	₹ 1,32,591	₹ 63,908	₹ 6,61,807
22	₹ 1,44,598	₹ 51,902	₹ 5,17,209
23	₹ 1,57,692	₹ 38,808	₹ 3,59,516
24	₹ 1,71,971	₹ 24,528	₹ 1,87,544
25	₹ 1,87,662	₹ 8955	₹ 0

What is the EMI formula used for calculation?

The calculation in the EMI calculator is done through the below-given formula:
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