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.

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 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