Home Loan EMI

An equated monthly installment (EMI) is what you pay every month towards repayment of your loan. Your Home Loan EMI depends on the loan amount, the rate of interest and the tenure of the loan. For a given loan amount and interest rate, your EMI can be lower if you increase the loan tenure. Check out our Home Loan EMI Calculator to find out by how much you can reduce your present EMI. Of course, keep in mind that banks will allow you to increase the tenure only up to your retirement age.


Your EMI comprises an interest component and a principal component.  In the initial years of your home loan term, the interest component will far exceed the principal component. Use our Loan Amortization Calculator to find out how much your next EMI is going to contribute towards interest and how much it will contribute towards principal repayment. This could help you in your tax computations.

Paying your home loan EMI on time is an excellent way to build a re-payment track record. Banks love responsible borrowers and are often willing to negotiate on the interest rate if you have a great repayment history. Typically a three year track record of timely repayments could help you secure much lower than market rates on a home loan and if the time is right, you may want to consider switching your home loan. We invite you to use our Should I transfer my Home Loan? calculator to help you find out the exact costs and benefits.