EMI Calculator 20191758 views
A home loan EMI Calculator is one such magical device that can make your life simpler and easier. If you are someone who is interested in availing a home loan or wants to go for a balance transfer but before availing the same facility interested in knowing that what would be your EMIs, if yes, all you need to know about an EMI Calculator. An online tool that calculates your monthly installments in just a few seconds.
Loan Amount Interest Rate Tenure(Months) Monthly Instalment (EMI) Total Interest Amount Total Amount (Principal + Interest) Year Principal Interest Balance Amount
- Loan Amount
- Tenure
- Interest RateThese are the three variables which are taken into consideration by the device in order to give away the precise and accurate results related to your EMI, Interest Outgo and Total Amount Payable towards a loan.
Table of Contents
Tata Capital Home Loan EMI Calculator
Let’s just understand the proper functioning of the same, with the help of an example below.
Suppose, Ankit Bhatia, a 30-year-old, PHP Developer by profession is looking for a home loan of ₹25 Lakh. The one thing is that after studying his profile, Tata Capital has agreed to offer the loan at an interest rate of 8.75% for a tenure of 20 years. Before availing the Tata Capital home loan, Ankit wants to know what would be the exact amount of his monthly installments which he needs to pay each month to a lender. Thus, he used this online device and finally decided whether his EMIs were pocket-friendly or not. So, without any further delay, let’s just take a look at the calculations below.
Table Showing EMI, Interest Outgo, and Total Repayment Amount EMI, Total Interest Outgo, Total Repayment (Interest + Principal)Loan Amount Interest Rate Tenure Monthly Instalment Total Interest Amount Total Amount ₹ 25,00,000 8.75% 1 ₹ 2,18,339 ₹ 1,20,068 ₹ 26,20,068 ₹ 25,00,000 8.75% 2 ₹ 1,13,925 ₹ 2,34,207 ₹ 27,34,207 ₹ 25,00,000 8.75% 3 ₹ 79,209 ₹ 3,51,516 ₹ 28,51,516 ₹ 25,00,000 8.75% 4 ₹ 61,916 ₹ 4,71,980 ₹ 29,71,980 ₹ 25,00,000 8.75% 5 ₹ 51,593 ₹ 5,95,585 ₹ 30,95,585 ₹ 25,00,000 8.75% 6 ₹ 44,754 ₹ 7,22,308 ₹ 32,22,308 ₹ 25,00,000 8.75% 7 ₹ 39,906 ₹ 8,52,123 ₹ 33,52,123 ₹ 25,00,000 8.75% 8 ₹ 36,302 ₹ 9,85,001 ₹ 34,85,001 ₹ 25,00,000 8.75% 9 ₹ 33,527 ₹ 11,20,907 ₹ 36,20,907 ₹ 25,00,000 8.75% 10 ₹ 31,332 ₹ 12,59,803 ₹ 37,59,803 ₹ 25,00,000 8.75% 11 ₹ 29,558 ₹ 14,01,645 ₹ 39,01,645 ₹ 25,00,000 8.75% 12 ₹ 28,100 ₹ 15,46,389 ₹ 40,46,389 ₹ 25,00,000 8.75% 13 ₹ 26,885 ₹ 16,93,985 ₹ 41,93,985 ₹ 25,00,000 8.75% 14 ₹ 25,859 ₹ 18,44,380 ₹ 43,44,380 ₹ 25,00,000 8.75% 15 ₹ 24,986 ₹ 19,97,519 ₹ 44,97,519 ₹ 25,00,000 8.75% 16 ₹ 24,236 ₹ 21,53,344 ₹ 46,53,344 ₹ 25,00,000 8.75% 17 ₹ 23,587 ₹ 23,11,795 ₹ 48,11,795 ₹ 25,00,000 8.75% 18 ₹ 23,022 ₹ 24,72,808 ₹ 49,72,808 ₹ 25,00,000 8.75% 19 ₹ 22,528 ₹ 26,36,320 ₹ 51,36,320 ₹ 25,00,000 8.75% 20 ₹ 22,093 ₹ 28,02,264 ₹ 53,02,264 Year Principal Interest Balance Amount 1 ₹ 48,268 ₹ 2,16,845 ₹ 24,51,731 2 ₹ 52,665 ₹ 2,12,448 ₹ 23,99,065 3 ₹ 57,463 ₹ 2,07,650 ₹ 23,41,602 4 ₹ 62,697 ₹ 2,02,415 ₹ 22,78,904 5 ₹ 68,409 ₹ 1,96,704 ₹ 22,10,495 6 ₹ 74,641 ₹ 1,90,472 ₹ 21,35,854 7 ₹ 81,440 ₹ 1,83,673 ₹ 20,54,413 8 ₹ 88,859 ₹ 1,76,254 ₹ 19,65,554 9 ₹ 96,954 ₹ 1,68,159 ₹ 18,68,599 10 ₹ 1,05,786 ₹ 1,59,327 ₹ 17,62,813 11 ₹ 1,15,423 ₹ 1,49,690 ₹ 16,47,390 12 ₹ 1,25,937 ₹ 1,39,176 ₹ 15,21,452 13 ₹ 1,37,410 ₹ 1,27,703 ₹ 13,84,042 14 ₹ 1,49,927 ₹ 1,15,186 ₹ 12,34,114 15 ₹ 1,63,585 ₹ 1,01,528 ₹ 10,70,529 16 ₹ 1,78,487 ₹ 86,626 ₹ 8,92,042 17 ₹ 1,94,746 ₹ 70,366 ₹ 6,97,295 18 ₹ 2,12,487 ₹ 52,626 ₹ 4,84,808 19 ₹ 2,31,844 ₹ 33,269 ₹ 2,52,964 20 ₹ 2,53,124 ₹ 12,149 ₹ 0
Tata Capital Home Loan EMI Calculation Formula
The calculator uses the below formula to calculate an EMI.
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
where,
EMI = Equated Monthly Installment
P = Principal Loan Amount
R = Monthly Interest Rate
N = Number of Monthly Installments
