# RBL Bank Home Loan EMI Calculator

₹ 50k ₹ 5Cr
6.0% 30.0%
1 years 30 years
Principal Amount
Interest Amount

Monthly EMI

Principal Amount

Interest Amount

Tenure (Years)

Total Amount

## 2044

### Highlights

• Check RBL Bank Home Loan EMI Calculator
• Just enter loan amount, interest rate and tenure to compute EMIs

Have you found your dream home and are considering an RBL Bank Home Loan to make the purchase? Wondering what your monthly EMI payments will be? Use the online EMI calculator to get a clear picture. This guide will explain how the calculator works and help you plan your finances effectively. Stay tuned for detailed insights.

## What is EMI?

EMI or Equated Monthly Installment constitutes portions of both interest and principal amount to be paid by a borrower each month till the expiry of the tenure. The calculator computes the installment using three variables – rate of interest, loan quantum, and the tenure of a loan.

So, just enter these variables and get the indicative EMI you are supposed to pay over the years. Not only does it indicate the installment, but it also highlights the amount of interest you are likely to pay via the EMIs.

## How to Use Wishfin RBL Bank Home Loan EMI Calculator?

The Wishfin Home Loan EMI Calculator is an easy-to-use online tool that helps you calculate your EMI payments. Enter the amount you want to borrow, the interest rate, and the loan duration to instantly see your monthly EMI, the total interest you'll pay, and the total repayment amount.

Adjust the sliders to set your preferred loan amount, tenure, and interest rate. The calculator also displays an amortization table, letting you track how your loan payments will unfold over time.

Wouldn’t you appreciate an example that can give you a brief idea of the EMI calculator? You would, right? You can go through the example below.

### EMI Calculation Formula

What formula does the calculator use to compute the installments? Don’t know? Take a look below to know the same.

E = P . R . (1+R)^N/((1+R)^N – 1)

E = EMI (Equated Monthly Installment)
P = Principal Loan Amount
R = Monthly Interest Rate
N = Monthly Loan Tenure

For instance, a borrower takes out a loan of ₹30,00,000 at an annual interest rate of 9.5% for a term of 15 years. Here’s how the calculation breaks down:

• Principal Amount (P): ₹30,00,000
• Interest Rate (R): 9.5% per year, (which is equal to 0.00791 per month)
• Loan Tenure (n): 15 years, or 180 months

Using the EMI calculation formula:

[30,00,000 x 0.00791 x (1 + 0.00791) ^ 180]/[(1+0.00791 ^180 -1] = 31,327

This calculation results in a monthly EMI of ₹31,327

## RBL Bank Home Loan Amortisation Schedule

Suchita Biswas, a 33-year-old cardiologist at a reputed hospital in Mumbai, applies for a 20-year home loan worth ₹50 lakhs at RBL Bank. The bank, based on his financials, disbursed the same at an interest rate of 11.70% per annum. So, what is the EMI ahead of her? Take a look.

Table Showing EMI, Interest Outgo, and Total Repayment Amount

Loan Amount Interest Rate Tenure Monthly Instalment Total Interest Amount Total Amount
₹ 50,00,000 11.70% 1 ₹ 4,43,543 ₹ 3,22,510 ₹ 53,22,510
₹ 50,00,000 11.70% 2 ₹ 2,34,667 ₹ 6,32,020 ₹ 56,32,020
₹ 50,00,000 11.70% 3 ₹ 1,65,356 ₹ 9,52,817 ₹ 59,52,817
₹ 50,00,000 11.70% 4 ₹ 1,30,934 ₹ 12,84,827 ₹ 62,84,827
₹ 50,00,000 11.70% 5 ₹ 1,10,466 ₹ 16,27,944 ₹ 66,27,944
₹ 50,00,000 11.70% 6 ₹ 96,973 ₹ 19,82,033 ₹ 69,82,033
₹ 50,00,000 11.70% 7 ₹ 87,464 ₹ 23,46,934 ₹ 73,46,934
₹ 50,00,000 11.70% 8 ₹ 80,442 ₹ 27,22,461 ₹ 77,22,461
₹ 50,00,000 11.70% 9 ₹ 75,078 ₹ 31,08,401 ₹ 81,08,401
₹ 50,00,000 11.70% 10 ₹ 70,871 ₹ 35,04,523 ₹ 85,04,523
₹ 50,00,000 11.70% 11 ₹ 67,504 ₹ 39,10,574 ₹ 89,10,574
₹ 50,00,000 11.70% 12 ₹ 64,766 ₹ 43,26,282 ₹ 93,26,282
₹ 50,00,000 11.70% 13 ₹ 62,509 ₹ 47,51,361 ₹ 97,51,361
₹ 50,00,000 11.70% 14 ₹ 60,628 ₹ 51,85,510 ₹ 1,01,85,510
₹ 50,00,000 11.70% 15 ₹ 59,047 ₹ 56,28,419 ₹ 1,06,28,419
₹ 50,00,000 11.70% 16 ₹ 57,707 ₹ 60,79,765 ₹ 1,10,79,765
₹ 50,00,000 11.70% 17 ₹ 56,565 ₹ 65,39,222 ₹ 1,15,39,222
₹ 50,00,000 11.70% 18 ₹ 55,585 ₹ 70,06,457 ₹ 1,20,06,457
₹ 50,00,000 11.70% 19 ₹ 54,742 ₹ 74,81,135 ₹ 1,24,81,135
₹ 50,00,000 11.70% 20 ₹ 54,012 ₹ 79,62,921 ₹ 1,29,62,921

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

Year Principal Interest Balance Amount
1 ₹ 66,644 ₹ 5,81,501 ₹ 49,33,355
2 ₹ 74,874 ₹ 5,73,272 ₹ 48,58,481
3 ₹ 84,119 ₹ 5,64,026 ₹ 47,74,361
4 ₹ 94,507 ₹ 5,53,639 ₹ 46,79,854
5 ₹ 1,06,177 ₹ 5,41,969 ₹ 45,73,676
6 ₹ 1,19,288 ₹ 5,28,858 ₹ 44,54,388
7 ₹ 1,34,018 ₹ 5,14,128 ₹ 43,20,370
8 ₹ 1,50,567 ₹ 4,97,579 ₹ 41,69,803
9 ₹ 1,69,159 ₹ 4,78,986 ₹ 40,00,643
10 ₹ 1,90,047 ₹ 4,58,098 ₹ 38,10,595
11 ₹ 2,13,515 ₹ 4,34,631 ₹ 35,97,080
12 ₹ 2,39,880 ₹ 4,08,265 ₹ 33,57,199
13 ₹ 2,69,501 ₹ 3,78,644 ₹ 30,87,697
14 ₹ 3,02,780 ₹ 3,45,365 ₹ 27,84,916
15 ₹ 3,40,168 ₹ 3,07,977 ₹ 24,44,747
16 ₹ 3,82,173 ₹ 2,65,972 ₹ 20,62,574
17 ₹ 4,29,365 ₹ 2,18,780 ₹ 16,33,208
18 ₹ 4,82,384 ₹ 1,65,761 ₹ 11,50,823
19 ₹ 5,41,950 ₹ 1,06,195 ₹ 6,08,872
20 ₹ 6,09,394 ₹ 39,274 ₹ 0

## The Lowest EMI Offered by RBL Bank on Home Loans

Here are the monthly EMI payments for different home loan amounts from RBL Bank. These calculations use interest rates of 8.90% and 11% over 20 years:

Interest Rate of 8.90%

Interest Rate of 11%

10 lakh loan amount - ₹8,933 p.m.

10 lakh loan amount -  ₹10,322 p.m.

12 lakh loan amount - ₹10,720 p.m.

12 lakh loan amount -  ₹12,386 p.m.

15 lakh loan amount - ₹13,400 p.m.

15 lakh loan amount -  ₹15,483 p.m.

17 lakh loan amount - ₹15,186 p.m.

17 lakh loan amount - ₹17,547 p.m.

20 lakh loan amount - ₹17,866 p.m.

20 lakh loan amount -  ₹20,644 p.m.

## The Key Benefits of Using RBL Bank Home Loan EMI Calculator

Here are the main advantages of utilizing the RBL Bank home loan calculator for your EMI calculation needs:

• RBL Bank loan calculator provides exact EMI calculations. This accuracy enables you to budget and plan your financial commitments effectively.
• This tool is conveniently accessible online. It allows you to perform quick calculations from any location at any time.
• It helps you understand the financial implications of various loan amounts, interest rates, and repayment terms. This aids in more informed decision-making.
• By automating the calculation process, it saves you significant time and effort that would otherwise be spent on manual calculations.
• The calculator assists in identifying a loan amount and repayment period that aligns with your financial situation. This ensures you don’t overextend yourself.
• Offers the flexibility to modify loan parameters easily, helping you compare different loan scenarios and select the most suitable one based on your needs.

## RBL Bank Home Loan Eligibility

If you are planning to apply for a home loan with RBL Bank, you need to meet the following eligibility criteria:

Salaried Applicants

• Minimum annual net income required: INR 1,80,000.
• Minimum age at loan approval: 24 years.
• Maximum age at loan maturity: 70 years, depending on the category.
• 3 years of minimum work experience is required.
• If the current job tenure is under one year, a confirmation letter is mandatory.

Self-Employed Individuals and Professionals

• Minimum net annual income according to the most recent ITR/Financials: INR 1,50,000.
• Minimum age at loan approval: 24 years.
• Maximum age at loan approval: 65 years.
• Must have maintained business continuity for the past three years in the same field.

## Factors that Affect RBL Bank Home Loan EMIs

Here are the key factors that affect the EMIs for your RBL Bank home loan:

• Credit Score: Your credit score impacts the interest rate you qualify for. A higher credit score could lead to a lower interest rate, thereby reducing your EMI.
• Income: Your level of income influences the loan amount you qualify for, and thus the EMI. A higher income might also enable better negotiation terms with the bank.
• Interest Rate: The interest rate RBL Bank charges on your home loan directly affects your EMI. Lower interest rates result in lower EMIs.
• Loan Tenure: The repayment period of the loan also plays a role in determining your EMI. Longer loan durations mean lower monthly payments, but increase the total interest paid over the loan's lifetime.
• Type of Interest Rate: The nature of the interest rate, whether fixed or floating, influences your EMI. Fixed rates keep the EMIs constant throughout the loan period. Floating rates, however, can change with market dynamics, altering the EMI amounts.

## Fees and Charges Associated with RBL Bank Home Loans

Below we have mentioned the charges and fees applicable to RBL Bank home loans:

Fee Type

Charges

Application Fees

₹5000/-

Processing Fees

For loans up to ₹30 lakh: Up to 1.5% of the loan amount or ₹10,000, whichever is greater.

For loans over ₹30 lakh: Up to 1% of the loan amount or ₹15,000, whichever is greater.

EMI Overdue Charges

2% additional interest per month on the overdue amount.

Issue of Duplicate Interest & Principal Certificate

₹250 per instance

Changes & Rate Switch Charges

0.5% on principal outstanding

Cheque / ECS / NACH Dishonour Charges Bounce

₹500 per instance

## The Challenges of Using RBL Bank Home Loan EMI Calculator

Here are the main disadvantages of using the RBL Bank Home Loan EMI calculator:

• The calculator provides estimated EMIs that might not account for all fees or interest rate fluctuations.
• It overlooks other potential costs such as processing and documentation fees, which can affect the total loan expense.
• The calculator operates with static input values and fails to accommodate interest rate variations or financial changes associated with floating-rate loans.
• It does not factor in how your credit score could influence the interest rates you qualify for, which can drastically alter loan conditions.
• While useful for basic EMI calculations, the calculator lacks in providing full support for other important loan aspects like eligibility checks or in-depth financial planning.