Home Loan EMI

Equated Monthly Installments

Repayment of a home loan typically follows a monthly schedule where equal amounts of money need to be paid over the loan tenure. The key here is whether the EMI payment is to be made in advance or in arrears. When EMIs are paid in advance, the loan is often disbursed after netting off the first EMI payment (and also netting off the processing fee if applicable). The advantage is a lower EMI each month thereafter. When EMIs are paid in arrears, nothing other than processing fee is netted off at the time of disbursement and the first repayment typically begins 30 days later.

EMI Calculations

The simplest way to determine EMI is to look up the EMI per lac table that's applicable to you and then multiply your loan amount (in lacs). For e.g. If the EMI per lac for you works out to ₹645 then the EMI applicable on a ₹40 lac loan will be ₹25,800

30 year tenure

Interest Rate (% p.a.)	EMI per lac (₹)
6.70	645
7.00	665
7.30	686
7.60	706
7.90	727
8.20	748
8.50	769

20 year tenure

Interest Rate (% p.a.)	EMI per lac (₹)
6.70	757
7.00	775
7.30	793
7.60	812
7.90	830
8.20	849
8.50	868

10 year tenure

Interest Rate (% p.a.)	EMI per lac (₹)
6.70	1,146
7.00	1,161
7.30	1,177
7.60	1,192
7.90	1,208
8.20	1,224
8.50	1,240