Home Loan Details

%

Homeowner Expenses

Partial Prepayments — Amount and Start Date

Principal & Interest (EMI) ₹1,690
Monthly Extra Payment (from Oct 2013) ₹0
Property Taxes ₹350
Home Insurance ₹66
Maintenance Expenses ₹0
Total Monthly Payment ₹2,244
Down Payment, Fees & One-time Expenses ₹35,000
Principal ₹3,15,000
Prepayments ₹0
Interest ₹2,93,755
Taxes, Home Insurance & Maintenance ₹1,60,783
Total of all Payments
₹8,04,539
Home Loan Payment Schedule
(Oct 2013 - Sep 2043)

Want to print OR share a custom link to your Home Loan EMI calculation (with all your numbers pre-filled)?

Print Share

How to Use Home Loan EMI Calculator?

Using our Home Loan EMI Calculator, you can calculate how much monthly and total expenditure you really incur by purchasing a home using your bank home loan.

Home Loan Details includes single premium loan insurance and processing fees.

  • Home Value is the actual price of the home you purchased (i.e., sale deed value).
  • Down Payment, aka Margin, is the total money you paid to the seller or builder from your own pocket, entered either in Rupees or as a percentage of Home Value.
  • Loan Insurance is the single premium amount, for the Home Loan Protection Plan (HLPP) OR Term Insurance Plan, that gets included in your home loan amount. If you want to guesstimate this amount, use the LIC premium calculator to calculate yearly premium for eTerm plan using your age, loan term and loan amount for Sum Assured. You then multiply this number by your loan tenure.
  • Loan Amount is calculated as Home Value + Loan Insurance — Down Payment.
  • Interest Rate is…the 10th wonder of the world! When its compounded, it ranks 8th.
  • Loan Fees & Charges includes Processing Fees, Administrative Charges etc. along with service taxes, entered either in Rupees or as a percentage of Loan Amount.

Homeowner Expenses can be entered either in Rupees or as a percentage of Home Value.  You will not pay property taxes and home insurance premium each month, but it is included in the total monthly payment with the assumption that you are setting aside this amount (either through Recurring Deposit or some other means) every month. This will ensure that you will have the necessary money to make the payment once or twice a year. Please note that the recurring expenses will change over the lifetime of the home loan due to inflation and other factors. They will also continue beyond the home loan tenure. You should consider all these factors, especially when making a Rent vs. Buy decision.

  • One-time Expenses can include Registration Fees, Stamp Duty, bribe you paid to that pan chewing Govt Babu, money you spent on sprucing up your new home and performing a lavish house warming ceremony (after all, this is a great occasion for your spouse to show off in front of his/her friends & relatives).
  • Property Taxes is the annual payment that you grudgingly make to your local municipal body.
  • Home Insurance is the yearly premium you pay to insure your home—if it isn’t already covered by loan insurance plan.
  • Monthly Maintenance Expenses is what you pay to keep your apartment shining, clean and ‘water-full’. If its an independent house, you can assume your annual maintenance expenditure to be about one percent of your home value. Divide this number by 12 to arrive at monthly maintenance amount.

Prepayments help you pay off your loan faster and reduce total interest cost.

We wish you an affordable home loan and a great new home!