RBL Bank Home Loan EMI Calculator Feb 2023 - Wishfin

# RBL Bank Home Loan EMI Calculator

### Highlights

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

## About RBL Bank Home Loan EMI Calculator

Searched out a dream home to buy on the back of RBL Bank Home Loan? But do you know the month-on-month EMI you are going to pay to the lender? No idea! Get an idea using the EMI calculator that’s available online. This write-up will elaborate the function of the calculator. So, stay tuned.

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

## 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. And not only it indicates the installment but also highlights the amount of interest you are likely to pay via the EMIs.

### 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

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

Example – 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 the EMI ahead of her? Take a look.

Table Showing EMI, Interest Outgo, and Total Repayment Amount

Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
₹ 50,00,00011.70%1₹ 4,43,543₹ 3,22,510₹ 53,22,510
₹ 50,00,00011.70%2₹ 2,34,667₹ 6,32,020₹ 56,32,020
₹ 50,00,00011.70%3₹ 1,65,356₹ 9,52,817₹ 59,52,817
₹ 50,00,00011.70%4₹ 1,30,934₹ 12,84,827₹ 62,84,827
₹ 50,00,00011.70%5₹ 1,10,466₹ 16,27,944₹ 66,27,944
₹ 50,00,00011.70%6₹ 96,973₹ 19,82,033₹ 69,82,033
₹ 50,00,00011.70%7₹ 87,464₹ 23,46,934₹ 73,46,934
₹ 50,00,00011.70%8₹ 80,442₹ 27,22,461₹ 77,22,461
₹ 50,00,00011.70%9₹ 75,078₹ 31,08,401₹ 81,08,401
₹ 50,00,00011.70%10₹ 70,871₹ 35,04,523₹ 85,04,523
₹ 50,00,00011.70%11₹ 67,504₹ 39,10,574₹ 89,10,574
₹ 50,00,00011.70%12₹ 64,766₹ 43,26,282₹ 93,26,282
₹ 50,00,00011.70%13₹ 62,509₹ 47,51,361₹ 97,51,361
₹ 50,00,00011.70%14₹ 60,628₹ 51,85,510₹ 1,01,85,510
₹ 50,00,00011.70%15₹ 59,047₹ 56,28,419₹ 1,06,28,419
₹ 50,00,00011.70%16₹ 57,707₹ 60,79,765₹ 1,10,79,765
₹ 50,00,00011.70%17₹ 56,565₹ 65,39,222₹ 1,15,39,222
₹ 50,00,00011.70%18₹ 55,585₹ 70,06,457₹ 1,20,06,457
₹ 50,00,00011.70%19₹ 54,742₹ 74,81,135₹ 1,24,81,135
₹ 50,00,00011.70%20₹ 54,012₹ 79,62,921₹ 1,29,62,921

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

YearPrincipalInterestBalance 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

#### People Also Look For

• Home Loan Interest Rates February 2023
Axis Bank7.60% - 8.05%
Bank of Baroda7.45% - 8.80%
Citibank6.65% - 7.40%
HDFC8.60% - 9.60%
ICICI Bank8.75% - 9.80%
Indiabulls Housing Finance Limited8.65%
Kotak Bank8.30% - 8.90%
LIC Housing8.65% - 9.75%
Piramal Capital & Housing Finance10.50%
PNB Housing Finance8.50% - 10.35%
Reliance Home Finance8.75% - 14.00%
State Bank of India/SBI8.00% - 8.55%
Tata Capital7.75%