Lakshmi Vilas Bank Home Loan EMI Calculator


  • Switch on the Lakshmi Vilas Bank Home Loan EMI Calculator to know your repayment
  • Negotiate for a lower rate to ease the EMI burden

About Lakshmi Vilas Bank Home Loan EMI Calculator

A home loan runs for a period as long as 20-30 years and so, one must get an idea of the repayment ahead. It even applies to Lakshmi Vilas Bank which offers a home loan for a maximum of 20 years. The word ‘repayment’ brings EMI, which is calculated based on the loan amount, interest rate and tenure, into the equation. Let’s explore the function of the calculator here.

What is EMI?

An EMI, as you would know, combines both principal and interest repayment portions of a loan. The home loan EMI, in particular, can have a huge bearing on one’s finances owing to a long repayment tenure. In lieu of a longer tenure, it is necessary to keep a lid on unnecessary spends so as to repay the EMI comfortably.

Formula to Calculate the EMI

To calculate the EMI, you can use the formula as shown below.

E = P x R x (1+R)^N/((1+R)^N – 1),

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

If you find it difficult to calculate the EMI from the above formula, the below example will at least give you an idea of the repayment likely to happen.

Example – Shashi Singh wants to apply for a home loan worth ₹60 lakh to purchase a flat at Lakshmi Vilas Bank. How much EMI and interest is he going to pay over a 20-year loan at 9.30% interest rate? The below table has an answer. Take a look.

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

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