A loan EMI calculator is commonly used by the borrowers before and after applying for the loan. The advance research through a loan calculator makes it easier to decide which tenure is suitable for you depending on the rate offered by the lender. At IDFC Bank, home loans can be taken for the maximum tenure of 30 years which comes with option to choose as per your desire.
The reason behind people using a loan calculator while their loan is continuing is that they want to see how much they have paid and what is the remaining amount they will have to pay. If they find that the remaining amount is still the major portion of the total loan amount because of the higher rate of interest, they can balance transfer to a lender which is offering you a better rate. Below is a calculator showing the EMI and other payment of the loan. You may notice the graphical representation of the payments and do the calculation for your loan as well.
IDFC Bank Home Loan EMI Calculator
A loan calculator takes into account the loan amount, tenure and rate of interest of your loan. With the help of this tool, you can check your EMI within a few minutes before applying for a housing loan which is available for the maximum tenure of 30 years at IDFC Bank.
What will be EMIs you have to pay for a home loan?
Considering that you apply for a home loan at IDFC Bank and you want the bank to give you the lowest rate possible. Suppose you get the approved rate of 8.75% per annum as per the loan amount of ₹25 lakhs for the tenure of 15 years. The EMIs you will then be liable to pay is mentioned in the below along with the amortization schedule which represents the balance amount at the end of each year.
Table Showing EMI, Interest Outgo, and Total Repayment Amount EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
Loan Amount Interest Rate Tenure Monthly Instalment Total Interest Amount Total Amount ₹ 25,00,000 8.75% 1 ₹ 2,18,339 ₹ 1,20,068 ₹ 26,20,068 ₹ 25,00,000 8.75% 2 ₹ 1,13,925 ₹ 2,34,207 ₹ 27,34,207 ₹ 25,00,000 8.75% 3 ₹ 79,209 ₹ 3,51,516 ₹ 28,51,516 ₹ 25,00,000 8.75% 4 ₹ 61,916 ₹ 4,71,980 ₹ 29,71,980 ₹ 25,00,000 8.75% 5 ₹ 51,593 ₹ 5,95,585 ₹ 30,95,585 ₹ 25,00,000 8.75% 6 ₹ 44,754 ₹ 7,22,308 ₹ 32,22,308 ₹ 25,00,000 8.75% 7 ₹ 39,906 ₹ 8,52,123 ₹ 33,52,123 ₹ 25,00,000 8.75% 8 ₹ 36,302 ₹ 9,85,001 ₹ 34,85,001 ₹ 25,00,000 8.75% 9 ₹ 33,527 ₹ 11,20,907 ₹ 36,20,907 ₹ 25,00,000 8.75% 10 ₹ 31,332 ₹ 12,59,803 ₹ 37,59,803 ₹ 25,00,000 8.75% 11 ₹ 29,558 ₹ 14,01,645 ₹ 39,01,645 ₹ 25,00,000 8.75% 12 ₹ 28,100 ₹ 15,46,389 ₹ 40,46,389 ₹ 25,00,000 8.75% 13 ₹ 26,885 ₹ 16,93,985 ₹ 41,93,985 ₹ 25,00,000 8.75% 14 ₹ 25,859 ₹ 18,44,380 ₹ 43,44,380 ₹ 25,00,000 8.75% 15 ₹ 24,986 ₹ 19,97,519 ₹ 44,97,519
Year Principal Interest Balance Amount 1 ₹ 84,416 ₹ 2,15,418 ₹ 24,15,583 2 ₹ 92,106 ₹ 2,07,728 ₹ 23,23,476 3 ₹ 1,00,497 ₹ 1,99,337 ₹ 22,22,979 4 ₹ 1,09,652 ₹ 1,90,182 ₹ 21,13,326 5 ₹ 1,19,641 ₹ 1,80,194 ₹ 19,93,685 6 ₹ 1,30,539 ₹ 1,69,295 ₹ 18,63,145 7 ₹ 1,42,431 ₹ 1,57,403 ₹ 17,20,714 8 ₹ 1,55,406 ₹ 1,44,428 ₹ 15,65,307 9 ₹ 1,69,563 ₹ 1,30,271 ₹ 13,95,744 10 ₹ 1,85,009 ₹ 1,14,825 ₹ 12,10,734 11 ₹ 2,01,863 ₹ 97,971 ₹ 10,08,871 12 ₹ 2,20,252 ₹ 79,582 ₹ 7,88,618 13 ₹ 2,40,316 ₹ 59,518 ₹ 5,48,302 14 ₹ 2,62,208 ₹ 37,626 ₹ 2,86,094 15 ₹ 2,86,275 ₹ 13,740 ₹ 0