Home Loan EMI Calculator

How is Home Loan EMI Calculated?

The EMI is calculated on the basis of following factors namely principal amount, interest rate & loan tenure.

The formula of Home Loan EMI calculation is:

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

Here, E stands for EMI, P stands for principal amount & R stands for rate of interest every month & N indicates tenure of the loan . The monthly EMI amount is fixed however, with the passage of time, you will pay less towards interest & more towards principal.