Karnataka Bank Home Loan EMI Calculator


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About Karnataka Bank Home Loan EMI Calculator

Selected a property of your choice and looking to avail a home loan from Karnataka Bank? Well, before applying, it would be better to get an idea of the cost you are going to incur on a loan. How can you get that idea? Simple, just use Karnataka Bank Home Loan EMI Calculator to know the same. Having an idea of the proposed EMI in advance lets you spend wisely and ensure a smooth repayment of the loan.

What is EMI?

EMI, extended to Equated Monthly Installment, is a combination of interest and principal repayment portions of a loan. The EMI calculator not only computes the installment but also the indicative interest outgo over the loan tenure. You can also get to see a year-on-year summary of principal and interest repayments, along with the likely outstanding balance at the end of each calendar. To make sure you repay the installments without disturbing your normal course of life, it would be good to keep the EMI outgo to the tune of 20%-30% of your take-home income.

Formula to Calculate EMI

If you want to use your mathematical acumen to ascertain the installments, you can check the formula below.

E = P . R . (1+R)^N/((1+R)^N – 1),

Where E = EMI
P = Principal Loan Amount
R = Rate of Interest
N = Monthly Loan Tenure

Many of you, though, won’t like to calculate using the formula, isn’t it? So all those who want to calculate easily can look forward to EMI calculator available online. The calculator just needs you to enter the following-

  • Loan Amount
  • Interest Rate
  • Loan Tenure

Want an example to understand the function of the calculator? Yes! Take a look below.

Example – Rajiv Kothari, a senior manager in a manufacturing firm, has selected a property worth ₹50 lakh. As he holds a salary account with Karnataka Bank, he applied there for a home loan. The bank, in turn, approved a loan of ₹40 lakh at 8.95% interest rate for a period of 20 years. Taking all that into consideration, what would be the EMI and interest he is supposed to pay to the private lender over the course of his loan tenure? Let’s find that out on the table below.

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

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EMI Calculator