Home Loan Prepayment Calculator

Plan Your Dream Home with FloorLo's Easy-to-Use Prepayment Calculator.

Home Loan Prepayment Calculator

₹20,276

Per Month

Principal

₹10,00,000

Interest

₹2,16,584

Total

₹12,16,584

Loan Amount

₹

Interest Rate (p.a.)

Tenure

Home Loan Amortization Schedule

Month	EMI (₹)	Principal (₹)	Interest (₹)	Balance (₹)

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Frequently Asked Questions

The Home Loan EMI (Equated Monthly Installment) Calculator is an online tool that helps borrowers estimate their monthly loan repayments. By inputting the loan amount, interest rate, and loan tenure, the calculator computes the EMI amount, allowing borrowers to plan their finances better.

The calculator uses a simple formula based on the loan amount, interest rate, and tenure to determine the EMI. It considers both the principal and interest components, providing accurate results for the borrower.

Using an EMI calculator is crucial for understanding your monthly financial commitment before taking a home loan. It helps you assess if the EMI fits your budget and allows you to make informed decisions about loan tenure and repayment capacity.

The formula for calculating the EMI is as follows:

EMI = P * R * (1 + R)^N / ((1 + R)^N - 1)

P = Principal amount (loan amount)
R = Monthly interest rate (annual interest rate divided by 12 and expressed as a decimal)
N = Total number of monthly installments (loan tenure in months)

No, the EMI amount remains constant throughout the loan tenure, provided it is a fixed-rate loan. In the case of floating-rate loans, the EMI can change based on fluctuations in interest rates.

The EMI amount is primarily influenced by the loan amount, interest rate, and tenure. A higher loan amount or interest rate will lead to a larger EMI, while a longer tenure will result in a smaller EMI.

Yes, the EMI calculator is an excellent tool for comparing loan offers from different banks or financial institutions. By inputting the loan terms offered by various lenders, you can compare the resulting EMIs and choose the most suitable option.

Yes, the EMI amount does not consider other charges like processing fees, prepayment charges, or late payment penalties. These additional costs need to be factored in while assessing the overall affordability of the loan.

Most reputable loan calculators use secure connections (SSL) to ensure the data you enter is encrypted and protected. However, it's essential to use calculators from trusted sources to ensure the security of your information.

Absolutely! The EMI calculator allows you to experiment with different loan tenures to find the one that best suits your financial situation. It helps strike a balance between affordable EMIs and minimizing the overall interest paid.

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