How to use Apnapaisa Home Loan EMI Calculator?

As Home Loans are typically long term loans, going up to 30 years, they require a high degree of planning and research before applying for one. This is where the Apnapaisa Home Loan EMI Calculator comes to your rescue.

The Apnapaisa Home Loan EMI Calculator helps you calculate your Home Loan EMI for different interest rates, principal amounts and loan tenures. As soon as you enter the variables of your Home loan, Apnapaisa Home Loan EMI Calculator instantly fetches you the expected EMI. It’s available 24*7 and is completely free of cost.

You can use the slider to adjust the individual variables, or input your exact numbers directly. A pie chart depicting the breakup of the total payment (total principal vs total interest payable) is also displayed.

What is the EMI for 50 Lakhs Home Loan?

You can calculate your Home Loan EMI using Apnapaisa Home Loan EMI Calculator. All you need to do is enter the following information in the Apnapaisa Home Loan EMI Calculator:

The Home loan amount you wish to avail (rupees)
The term of your Home loan (months or years)
The rate of interest (percentage)

You can use the slider to adjust the values in the Home Loan EMI Calculator form or enter the values directly in their relevant boxes. As you update the values, Apnapaisa Home Loan EMI calculator will re-calculate your monthly payment (EMI) amount accordingly.

The table below provides a comparison of your Home Loan EMI for 50 lakhs at 6.75% for different tenures.

Home Loan Amount : ₹ 50,00,000

EMI for 15 Years : ₹ 44,245

EMI for 20 Years : ₹ 38,018

EMI for 25 Years : ₹ 34,546

EMI for 30 Years : ₹ 32,430

When I prepay my Home Loan, should I opt for a lower EMI or reduce my loan tenure?

The choice between reducing your Home Loan EMI vs. your Home Loan tenure depends entirely on your monthly finances.

Paying the same Home Loan EMI amount with a shorter tenure significantly lowers the interest payable. But that means that the burden on your monthly finances will continue to be high.

On the other hand, reducing your Home Loan EMI amount will leave you with more income available for your monthly expenses. But will result in higher interest payable in the long run.

For a better understanding of the exact impact of prepayment on your Home Loan EMI and tenure, use the Apnapaisa Home Loan EMI Calculator.