Home Loan EMI Calculator - Calculate Housing Loan EMI | Kotak Bank
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Home Loan EMI Calculator

Loan Amount

Minimum ₹ 10,00,000

Interest Rate

Minimum 8.7%

Tenure (Years)

Till April 2028

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Equated Monthly Instalments (EMI)


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Interest Payable


Home Loan Amortization Schedule
Emi Nos Opening Principal EMI Interest Principal Repayment Closing Principal
Monthly obligation should not be greater than Monthly Net Income

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Home Loan Calculator - Calculate Your Monthly EMI Online

A Home Loan EMI Calculator is an online tool that helps you calculate the Equated Monthly Installment (EMI) for your home loan. With a Home Loan EMI Calculator, you can easily determine the monthly installment amount you'll need to pay towards your home loan. Kotak Mahindra Bank provides an easy-to-use home loan calculator that helps you calculate your housing loan EMIs and make informed decisions about owning your dream home. With the housing loan calculator, you can quickly determine your home loan EMIs based on the housing loan amount, rate of interest, and other factors. Kotak Mahindra Bank offers attractive interest rates and EMIs starting at ₹819 per Lakh*, so you can buy your dream home without hassle.

What is Home Loan EMI?

Home loan EMI is a systematic and easy approach towards home loan repayment. EMI stands for equated monthly installment, which includes principal amount, and the interest payable divided through the tenure chosen. Home loan borrower has to make the repayment of the loan each month in the form of home loan EMI.

How is EMI on Home Loan Calculated?

The EMI on a home loan is calculated using a formula that considers the loan's principal amount, the tenure in months, and the monthly interest rate. The formula for calculating Equated Monthly Installment (EMI) for a home loan is as follows:

EMI= [P x R x (1+R)^N]/[(1+R)^N-1]

Where P = Loan’s principal amount

R = Monthly rate of interest

N = Tenure of the loan (in months)

For example:

For a home loan amount of 50,00,000 INR for 20 years and the yearly rate of interest of 6.55%, the EMI amount will be computed as follows:

EMI = [50,00,000*0.005*(1+0.005) ^240]/[(1+0.005)^240-1] = 37,426 INR

Home Loan Calculator Features and Benefits

Here are the benefits you can enjoy with Kotak Mahindra Bank’s housing loan EMI calculator:

  • It is a simple and user-friendly home loan EMI calculator anyone can use.
  • The home loan interest rate calculator helps you find out the exact amount of interest and compare the home loan interest rates and tenure.
  • You can calculate the amount in just a few minutes
  • It helps decide on the loan tenure the borrower should choose while keeping his monthly expenses and other loan EMIs in mind.
  • It assists in better financial planning
  • It helps the borrower determine the accurate EMI amount payable

Kotak Bank offers various Repayment Plans enhancing Home Loan Eligibility

Start your homeownership journey with Kotak Bank's flexible repayment plans, carefully crafted to enhance Home Loan eligibility and adapt to your evolving financial circumstances. These flexible solutions offer convenience and ease throughout your loan repayment period:


1. Step Up Repayment Facility (SURF):
Secure a higher loan amount and enjoy the advantage of lower EMIs during the initial years. With SURF, your repayment tenure aligns seamlessly with the expected growth in your income. This unique option allows for an accelerated repayment as your income progresses.


2. Flexible Loan Instalments Plan (FLIP):
FLIP is designed to accommodate changes in your repayment capacity throughout the loan. Benefit from higher EMIs in the initial years, which gradually decrease proportionally to your income. This customised approach ensures adaptability, catering to your financial needs throughout the loan term.


3. Tranche-Based EMI:
For those purchasing under-construction properties, the Tranche-Based EMI option offers flexibility. You only need to service the interest on the loan amount drawn until the final disbursement. Alternatively, you can start principal repayment immediately by trancing the loan and paying EMIs on the cumulative amounts disbursed.


4. Accelerated Repayment Scheme:
Take control of your loan repayment journey with the Accelerated Repayment Scheme. This option allows you to increase your EMIs annually in proportion to the growth in your income. Doing so can significantly expedite the repayment process and achieve financial freedom sooner.


5. Telescopic Repayment Option:
Opt for extended repayment tenure of up to 25 years with the Telescopic Repayment Option. This choice increases your loan eligibility and results in smaller EMIs, making it an ideal solution for those seeking prolonged financial comfort while securing their dream home.

Home Loan Amortization Schedule

An amortisation schedule is a table that shows the periodic payments and the amount of principal and interest that make up each payment for the entire loan term. It also shows the remaining loan balance after each payment is made.

  • Visit Kotak Mahindra Bank’s website
  • Go to the home loan EMI calculator page
  • Enter the required values like home loan amount, interest rate, tenure, etc.

How To Reduce EMI Amount On A Home Loan

Once the home EMI calculator shows you your EMI amount you will have a clearer picture of your home loan. To reduce your EMI amount on a home loan follow these tips:

  • Choose a higher down payment- A higher down payment gives you a lesser principal amount on which the EMI is calculated. If the principal amount is low the EMI will also be lower.
  • Choose a long repayment tenure- Long repayment tenure give your more time to repay your loan and hence the EMI is also reduced.
  • Take a balance transfer loan- These loans are offered at lower rates of interest.

Frequently Asked Questions

What does an EMI Mean?

An EMI (Equated Monthly Instalment) is an essential aspect of your loan journey. It is a monthly payment from the borrower to the creditor, ensuring a systematic repayment process. Use a Housing Loan EMI Calculator for accurate calculations.


Here are the components that shape your EMI:


1. Principal Amount

The initial chunk of your EMI goes towards repaying the loan principal, gradually reducing your outstanding balance.


2. Interest Payment

The interest payment is the cost of borrowing, a crucial component shaping the financial structure of your monthly instalment.


3. Loan Tenure

The duration of your loan, known as the loan tenure, plays a pivotal role in determining the EMI amount.

Why Should I Use An EMI Calculator?

The Home Loan EMI calculators provide a hassle-free way to determine your EMI based on key inputs, ensuring transparency and informed decision-making. Here’s why using an EMI calculator is recommended:


1. Informed Decision-Making

Gain insights into your monthly outflow with our user-friendly EMI calculator. Make informed decisions about your home purchase, considering loan amount, interest rates, and tenure.


2. Assess Loan Eligibility

Calculate the loan amount you can avail of, helping you understand your eligibility and plan your property investment wisely. Assess your contribution requirements and estimate the overall cost of the property with ease.


3. Manage EMIs

Effectively manage your EMIs by understanding the impact of different loan amounts and tenures. Our EMI calculator empowers you to find the right balance for your budget, ensuring a comfortable and stress-free repayment journey.

What is the benefit of calculating EMIs?

Knowing your EMI amount in advance offers numerous benefits:


1. Financial Planning

Understanding your monthly financial commitment helps you organise your expenses and ensures smooth cash flow. This clarity enhances your overall financial planning, allowing you to allocate resources wisely.


2. Loan Suitability

Assess whether the calculated EMI aligns with your financial capacity. It empowers you to choose a loan that fits your budget, preventing future financial strain.


3. Long-Term Savings

By calculating EMIs, you gain clarity on interest payments. This knowledge helps develop strategies to minimise interest outflow, potentially saving you money over the loan tenure.


4. Preparing for Contingencies

Calculating EMIs in advance prepares you for unforeseen circumstances. This proactive approach helps in maintaining financial stability even during unforeseen situations.

How do you use the Home Loan EMI Calculator?

Knowing how to use a Home Loan EMI Calculator helps calculate your loan EMIs without anyone's intervention. This user-friendly tool operates on a smart algorithm, considering key factors like loan amount, interest rate, and repayment tenure. The calculator processes these details, creating a detailed repayment schedule. 


Click on the Home Loan EMI Calculator on the Kotak website and enter the following details.


  • Loan Amount: Enter your desired loan amount.
  • Loan Tenure: Choose your loan term, with a longer tenure boosting eligibility.
  • Interest Rate: Input the applicable interest rate.


Once you enter these values, the calculator will show the EMI on screen instantly.

What are the factors that affect housing loan EMI?

Here are the factors affecting your Housing Loan EMIs:


1. Down Payment

A substantial down payment reduces the loan amount, making monthly repayments more manageable.


2. Loan Amount (Principal)

The borrowed sum significantly impacts your EMI. A higher loan amount generally results in larger monthly repayments.


3. Interest Rate

The interest rate and the cost of borrowing directly influence your EMI. Lower rates alleviate the burden, making your EMIs more affordable.


4. Loan Tenure

The duration of your loan directly impacts the EMI. Longer tenures often result in lower instalments.

When Will My Home Loan EMI be Due?

Your Home Loan EMI due date is typically determined by the bank and agreed upon at the time of loan disbursement. It is usually set for a specific date each month. The loan agreement, your preference, and the chosen repayment tenure influence the due date. Kotak often provides flexibility, allowing you to select a date that aligns with your financial cycle. It's crucial to be aware of and adhere to this date to ensure timely repayments and avoid any potential late fees or penalties. Refer to your loan agreement or contact the bank for precise information on your EMI due date.

How Can I Change My Home Loan EMI Date?

Calculate your EMI, interest rate, and tenure using the home EMI calculator before you decide to apply for a loan. Once you avail of the loan, the date for your EMI deduction is fixed. However, you can change your Home Loan EMI date by:


1. Negotiate with the Bank
Contact Kotak customer service or visit our nearest branch. Provide the necessary details, and they will guide you through the process of updating your EMI date. Lenders offer the flexibility to adjust the EMI date based on your preference.


2. Adjust EMI Amount
Changing your Home Loan EMI date through the online banking portal may also be possible. Log in to your account, navigate to the loan section, and explore options for modifying the EMI date. Lenders provide this convenience as part of their online services for enhanced customer flexibility.

How does my home loan eligibility affect EMIs?

Understanding how your Home Loan eligibility influences EMIs is helpful for a seamless borrowing experience. Here are the key factors shaping your eligibility:


1. Salary or Income
Your income is a pivotal determinant. A higher income often enhances loan eligibility, allowing for more favourable EMI terms.


2. Age
Age plays a role in eligibility. Younger individuals may have extended loan tenures, affecting their EMI amounts positively.


3. Ongoing Debts
Existing debts impact your eligibility. Minimising debts can increase the loan amount you qualify for, influencing EMIs.


4. Credit Score
A favourable credit score strengthens your eligibility, potentially securing lower interest rates and more manageable EMIs.

Understanding these factors empowers you to go through Home Loan eligibility smartly, ensuring an affordable EMI structure.

Have specific doubts? Talk to our Home Loan Advisor

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