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How it works
Calculates EMI based on reducing balance method, where interest is charged on the outstanding principal.
The formula
EMI = [P x r x (1+r)^n] / [((1+r)^n) - 1]- P
- Loan Amount
- r
- Monthly Interest Rate
- n
- Tenure in Months
Worked example
₹50 Lakh at 8.5% for 20 years results in an EMI of ~₹43,391.
Pro tips
- Opt for a shorter tenure to save on total interest.
- Check for processing fees and hidden charges.
Common mistakes
- Only looking at EMI and ignoring total interest cost.
Go deeper
Concepts to explore
Home loan tax benefits
Institutional grade calculations are illustrative and for educational wealth architecture. Results do not constitute investment advice.