ICICI Home Loan EMI Calculator

Highlights

  • Calculate your home loan EMI with ICICI loan calculator.
  • Check your EMIs before applying for a home loan.

ICICI Bank is one of the best options you have for home loans. You can use loan EMI calculator before applying for the loan so that EMIs are within your budget. Read this article to know how much can you save by using this magical tool. The calculator helps in knowing the following details:

  • Monthly installment (EMI)
  • Your repayment capacity
  • Balance amount at the end of each year
  • Suitable tenure, rate and loan amount
  • Comparing different combinations before finalizing one

Apply ICICI Home Loan @ 8.10%* Rate

EMI Calculator for Home Loan
Loan Amount (₹)
Interest Rate (%)
Tenure (Month)
Results
Loan Amount
Interest Rate
Tenure(Months)
Monthly Instalment (EMI)
Total Interest Amount
Total Amount (Principal + Interest)
YearPrincipalInterestBalance Amount

ICICI Home Loan Interest Rate August 2022

With the low-interest rate option, ICICI home loan is presently one of the best home loans in India. There is a concession for women applicants as well. Have a look at the rates below:

ParticularsDetails
Interest Rate8.10% - 8.95%
Processing FeeINR 3,000 + GST
Loan AmountCustomized
Loan Tenure30 Years

ICICI Home Loan Calculator

EMI Calculator is also popular as an interest calculator. This tool functions online so as to make it convenient for you to know the EMI payments anytime anywhere. The home loan EMI calculator, like other loan calculators, takes into account the basic details of your loan: the loan amount, the interest rate, and the tenure.

Here is an example:

Table Showing EMI, Interest Outgo, and Total Repayment Amount

Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
₹ 30,00,0007.50%1₹ 2,60,272₹ 1,23,267₹ 31,23,267
₹ 30,00,0007.50%2₹ 1,34,999₹ 2,39,971₹ 32,39,971
₹ 30,00,0007.50%3₹ 93,319₹ 3,59,472₹ 33,59,472
₹ 30,00,0007.50%4₹ 72,537₹ 4,81,762₹ 34,81,762
₹ 30,00,0007.50%5₹ 60,114₹ 6,06,831₹ 36,06,831
₹ 30,00,0007.50%6₹ 51,870₹ 7,34,664₹ 37,34,664
₹ 30,00,0007.50%7₹ 46,015₹ 8,65,246₹ 38,65,246
₹ 30,00,0007.50%8₹ 41,652₹ 9,98,555₹ 39,98,555
₹ 30,00,0007.50%9₹ 38,283₹ 11,34,569₹ 41,34,569
₹ 30,00,0007.50%10₹ 35,611₹ 12,73,264₹ 42,73,264
₹ 30,00,0007.50%11₹ 33,444₹ 14,14,610₹ 44,14,610
₹ 30,00,0007.50%12₹ 31,657₹ 15,58,578₹ 45,58,578
₹ 30,00,0007.50%13₹ 30,161₹ 17,05,134₹ 47,05,134
₹ 30,00,0007.50%14₹ 28,894₹ 18,54,242₹ 48,54,242
₹ 30,00,0007.50%15₹ 27,810₹ 20,05,867₹ 50,05,867
₹ 30,00,0007.50%16₹ 26,875₹ 21,59,967₹ 51,59,967
₹ 30,00,0007.50%17₹ 26,061₹ 23,16,501₹ 53,16,501
₹ 30,00,0007.50%18₹ 25,349₹ 24,75,427₹ 54,75,427
₹ 30,00,0007.50%19₹ 24,722₹ 26,36,699₹ 56,36,699
₹ 30,00,0007.50%20₹ 24,168₹ 28,00,271₹ 58,00,271
₹ 30,00,0007.50%21₹ 23,675₹ 29,66,095₹ 59,66,095
₹ 30,00,0007.50%22₹ 23,235₹ 31,34,122₹ 61,34,122
₹ 30,00,0007.50%23₹ 22,842₹ 33,04,303₹ 63,04,303
₹ 30,00,0007.50%24₹ 22,488₹ 34,76,586₹ 64,76,586
₹ 30,00,0007.50%25₹ 22,170₹ 36,50,921₹ 66,50,921
₹ 30,00,0007.50%26₹ 21,882₹ 38,27,254₹ 68,27,254
₹ 30,00,0007.50%27₹ 21,622₹ 40,05,533₹ 70,05,533
₹ 30,00,0007.50%28₹ 21,386₹ 41,85,705₹ 71,85,705
₹ 30,00,0007.50%29₹ 21,172₹ 43,67,718₹ 73,67,718
₹ 30,00,0007.50%30₹ 20,976₹ 45,51,517₹ 75,51,517

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

YearPrincipalInterestBalance Amount
1₹ 27,655₹ 2,24,062₹ 29,72,344
2₹ 29,801₹ 2,21,915₹ 29,42,542
3₹ 32,115₹ 2,19,602₹ 29,10,427
4₹ 34,608₹ 2,17,108₹ 28,75,818
5₹ 37,295₹ 2,14,422₹ 28,38,523
6₹ 40,190₹ 2,11,526₹ 27,98,332
7₹ 43,311₹ 2,08,406₹ 27,55,021
8₹ 46,673₹ 2,05,044₹ 27,08,347
9₹ 50,296₹ 2,01,420₹ 26,58,051
10₹ 54,201₹ 1,97,516₹ 26,03,849
11₹ 58,409₹ 1,93,308₹ 25,45,440
12₹ 62,943₹ 1,88,774₹ 24,82,496
13₹ 67,830₹ 1,83,887₹ 24,14,666
14₹ 73,096₹ 1,78,621₹ 23,41,570
15₹ 78,770₹ 1,72,947₹ 22,62,799
16₹ 84,885₹ 1,66,831₹ 21,77,914
17₹ 91,475₹ 1,60,242₹ 20,86,438
18₹ 98,577₹ 1,53,140₹ 19,87,861
19₹ 1,06,229₹ 1,45,487₹ 18,81,631
20₹ 1,14,476₹ 1,37,240₹ 17,67,154
21₹ 1,23,364₹ 1,28,353₹ 16,43,790
22₹ 1,32,941₹ 1,18,776₹ 15,10,849
23₹ 1,43,261₹ 1,08,456₹ 13,67,587
24₹ 1,54,383₹ 97,334₹ 12,13,204
25₹ 1,66,368₹ 85,349₹ 10,46,835
26₹ 1,79,284₹ 72,433₹ 8,67,551
27₹ 1,93,202₹ 58,515₹ 6,74,348
28₹ 2,08,201₹ 43,516₹ 4,66,147
29₹ 2,24,364₹ 27,353₹ 2,41,782
30₹ 2,41,912₹ 9935₹ 0

Once you have mentioned these details, you get your home loan EMI details in the form of pie-chart. Since the interest offered to you by ICICI Bank is the annual rate, the calculating tool converts the annual rate into the monthly rate and then gives the result. Here is the formula used for the calculation.

EMI Calculation Formula

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

ICICI Home Loan Customer Care

ICICI Bank is known for its customer service as it has always helped its customers in case of any query. So, if you have applied for a loan and want to check the status of your application or you just want to contact the bank and want to know whether or not you can get the loan, just contact the customer care department. You can dial 1800 200 3344 between 9 AM to 6 PM from Monday to Friday.

ICICI Home Loan Statement

The borrowers will get the loan statement every month on the registered email ID. It will include monthly instalment amount and other details related to your loan repayment which can be reviewed by the customer.

Frequently Asked Questions

1. How is EMI calculated for ICICI home loan?

ICICI Bank calculates the home loan EMI using a particular formula, which is as follows:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1],
Where,
P represents the ‘Principal Amount’,
R stands for the rate of interest set by the bank, and
N denotes the number of years for which the loan has been taken. Since, the EMIs are paid every month, the duration is calculated in the number of months.

2. How can I pay my ICICI home loan EMI online?

If you have an ICICI Bank account, you can use the internet banking facility to pay your home loan EMI online.

3. Can we pay more than EMI in home loan ICICI?

Yes, ICICI Bank offers prepayment facility on home loans. Therefore, you can pay more than the EMI amount in ICICI home loan.

4. What happens if ICICI home loan EMI is missed?

ICICI Bank generally charges a late payment fee which is between 1% to 2% of the due EMI amount. Moreover, it has a negative impact on your overall credit score.

People Also Look For

  • Home Loan Interest Rates August 2022
    Axis Bank7.60% - 8.05%
    Bank of Baroda7.45% - 8.80%
    Citibank6.65% - 7.40%
    HDFC7.65% - 8.55%
    ICICI Bank7.10% - 8.85%
    Indiabulls Housing Finance Limited8.65%
    Kotak Bank7.50% - 8.10%
    LIC Housing7.55% - 8.75%
    Piramal Capital & Housing Finance10.50%
    PNB Housing Finance7.50% - 10.20%
    Reliance Home Finance8.75% - 14.00%
    State Bank of India/SBI7.05% - 8.05%
    Tata Capital7.75%