Loan Amount
Minimum amount is ₹1,00,000
Minimum interest is 1%
Yr
Mn
Minimum time period is 1 year/month
₹
100000
₹
100000
₹
100000
₹
100000
Loan Amortisation Chart
Click on "Refresh Table" to update the table using current values
Women get loans at a lesser interest rate compared to men!
Navigating the world of home loans can be complex, but our Home Loan EMI Calculator makes it easier than ever to check home loan eligibility. Whether you’re a first-time homebuyer or looking to refinance, understanding your EMI (Equated Monthly Installment) is crucial.
Our user-friendly Home Loan EMI Calculator allows you to quickly and accurately check your housing loan eligibility. Determine your monthly payments. Simply input your loan amount, interest rate, and tenure to get an instant EMI calculation. This helps you plan your budget effectively and ensures you’re well-prepared for the financial commitment.
Before you apply, it’s important to know how much you can borrow. Our suite of eligibility calculators helps you understand your borrowing capacity:
Take the first step towards your dream home with our Home Loan EMI Calculator. Whether you’re buying a new home or refinancing an existing loan, our tools are here to assist you every step of the way to help you get the home loan eligible amount. Use our Home Loan Eligibility Calculator and Housing Loan Eligibility Calculator to understand your borrowing capacity. Calculate your EMI, check my home loan eligibility, and make your home loan process smooth and hassle-free with our Home Loan EMI Eligibility Calculator.
There’s a formula that LXME uses to calculate the EMI for Home Loan. First, we determine:
Monthly interest rate ( r) = Yearly Interest Rate/12
No. of Payments (t) = Time period in years *12
EMI Formula = (P*r*(1+r)^t)/((1+r)^t-1)
Let’s take an example to understand EMI calculations better: Anita takes a ₹45 Lakhs Home loan for 20 years time period at a rate of interest of 9%p.a., then her monthly EMI would be ₹40,488 and in this loan tenure of 20 years, she’ll pay a total principal amount of ₹45,00,000 and total interest of ₹52,17,040. Her total amount paid for the loan in 20 years timeline would be ₹97,17,040. Similarly, you can add your inputs in the calculator and plan your EMIs.
There are various parameters on which your home laon eligibility depends such as-
Income and Employment Stability, Age, Credit Score, Existing Debts, Loan Amount and Property Value, Down Payment, Repayment Capacity, Employment Type and Property Type & Location
Age impacts the home loan eligibility. Lenders generally set age limits of 21-60 for salaried individuals and up to 65 for self-employed. Younger loan applicants can get longer tenures with lower EMIs, while older loan applicants may have shorter tenures with higher EMIs. Loans are often structured to be repaid before retirement.
You can improve your home loan eligibility by maintaining a high credit score, reducing existing debts, increasing your down payment, ensuring stable employment, choosing a co-applicant, and providing complete documentation.
Factors that affect home loan criteria are, income & employment stability, age, credit score, existing debts, loan amount & property value, down payment, repayment capacity, employment type, property type, and location.
The amount of loan you can take up depends on your income and financial resources. The minimum salary required for home loan varies from lender to lender.
