
Your monthly EMI is
0 INR
at 8% interest rate for 14 years
Kotak Mahindra Bank’s home loan calculator not only helps you easily calculate your housing loan EMIs, but also assists you in making informed decisions when it comes to owning your dream home. Our easy-to-use home loan interest rate calculator allows you to know your home loan EMIs, basis housing loan amount, rate of interest & much more within minutes. We at Kotak Mahindra Bank offer you home loans with EMIs starting at ₹849 per Lakh* & rate of an attractive interest rate so that you can buy your dream home without any hassles.
Applying for a home loan could get tricky, considering all the calculations involved. To make things simpler, our home loan EMI calculator helps you calculate your monthly payments and understand how various parameters govern them. From the comfort of your couch, you can now choose the right plan for yourself. After all, home loans should be hassle-free, rather than being a time-consuming, way to fulfill your dream.
Using an online housing loan EMI calculator is the easiest and fastest way to get the exact EMI amount. The mathematical formula for calculating the EMI amount on a housing loan is:
EMI= [P x R x (1+R)^N]/[(1+R)^N-1]
Where P = Loan’s principal amount
R = Monthly rate of interest
N = Tenure of the loan (in months)
For example:
For a home loan amount of 50,00,000 INR for 20 years and the yearly rate of interest of 6.55%, the EMI amount will be computed as follows:
EMI = [50,00,000*0.005*(1+0.005) ^240]/[(1+0.005)^240-1] = 37,426 INR
The home loan EMI calculator at Kotak Mahindra Bank’s website allows you to calculate the exact amount of your monthly EMI with a few clicks. Paying the home loan EMI is a significant expense and to know whether you will be able to bear that burden on your current income, it is essential that you calculate the amount of your monthly emi using home loan EMI calculator. Here are the benefits you can enjoy with Kotak Mahindra Bank’s housing loan EMI calculator:
Kotak Mahindra Bank’s home loan EMI calculator is designed to bring ease to the process of home loan EMI calculation. You can calculate the amount of your EMI and find out the loan you can afford to avail of, using the home loan interest calculator. It is an excellent tool to plan your home loan. The home loan EMI calculator uses information provided by you to give accurate results. Following are some steps that will help you calculate the EMI using the home loan EMI calculator:
Home Loan Amortization Schedule |
|||||
Year |
Opening Balance |
Yearly EMIs |
Yearly Principal Paid |
Yearly Interest Paid |
Closing Balance |
1 |
50,00,000 |
6,93,562 |
3,59,800 |
3,33,763 |
46,40,200 |
2 |
46,40,200 |
6,93,562 |
3,85,426 |
3,08,136 |
42,54,774 |
3 |
42,54,774 |
6,93,562 |
4,12,878 |
2,80,684 |
38,41,896 |
4 |
38,41,896 |
6,93,562 |
4,42,285 |
2,51,277 |
33,99,610 |
5 |
33,99,610 |
6,93,562 |
4,73,787 |
2,19,776 |
29,25,824 |
6 |
29,25,824 |
6,93,562 |
5,07,532 |
1,86,031 |
24,18,292 |
7 |
24,18,292 |
6,93,562 |
5,43,681 |
1,49,882 |
18,74,611 |
8 |
18,74,611 |
6,93,562 |
5,82,404 |
1,11,158 |
12,92,207 |
9 |
12,92,207 |
6,93,562 |
6,23,886 |
69,677 |
6,68,321 |
10 |
6,68,321 |
6,93,562 |
6,68,321 |
25,241 |
0 |
Disclaimer: The calculator and the table above are generated based on the details provided by you. We do not guarantee the correctness or the absoluteness of the data, and it may vary as per different circumstances. Customers should exercise due care and caution before taking any decision.
Once the home EMI calculator shows you your EMI amount you will have a clearer picture of your home loan. To reduce your EMI amount on a home loan follow these tips:
I had a great experience. I want to appreciate the Home Loan RM & branch for the customer centricity & follow ups to keep the things moving.
Reviewed on 04/11/2022
It was good experience. I preferred Kotak bank over other banks due to lower rate of interest and my existing relationship with Kotak Bank.
Reviewed on 04/11/2022
Process of getting Kotak Home Loan was smooth. Would recommend one to choose Kotak Home Loans. Also, RM, Branch team were of great support.
Reviewed on 04/11/2022
Extremely satisfied with the services provided. I really appreciate Kotak Bank & the team for their efforts in helping me buy my first home.
Reviewed on 04/11/2022
Clicking on ‘Apply Now’ will redirect you to a third party website.
Home Loan EMI calculators help you to calculate your EMI amount based on the inputs entered. A house loan calculator is an effective tool.
Part payments help you reduce the interest calculated at the end of each month. They also help you reduce the principal amount on which the EMI is calculated. The EMI amount is also reduced as a result of part payments. The home EMI calculator will help you make a better decision about your part payment amounts.
Home Loan EMIs are the monthly installment amounts you need to pay to your bank against a Housing Loan you take. A housing loan calculator is a fast and easy way to calculate your EMIs.
Yes. You can always opt-in to prepay your home loan. Please refer to our General Schedule of Features and Charges to know more.
Home Loan EMIs are influenced by the interest rate, loan amount, and tenure.
It is not mandatory to purchase insurance coverage for your home. But, it helps keep you financially safe in case of an unfortunate event
An EMI (equated monthly installment) is a monthly payment paid by the borrower to the creditor. It can be calculated using a housing loan EMI calculator. Inputting the required values will help you find out the accurate amount of EMI. It is recommended to calculate your EMI using a housing loan EMI calculator before you apply for a loan.
With the house loan calculator find out the EMI then decide the date on which you want to avail of the loan. For loans availed till 15th of a month, EMI is deducted on the 5th of the next month. For the loans taken from 16th to 31st, the EMI is deducted on the 5th of next to next month.
The home loan repayment calculator not only helps you know the EMI amount but also has other benefits you can enjoy if you calculate your EMI beforehand:
Calculate your EMI, interest rate, and tenure using the home EMI calculator before you decide to apply for a loan. Once you avail of the loan, the date for your EMI deduction is fixed. However, you can change your home loan EMI date by:
Disclaimer (Things you should know):
For loans: Credit at the sole discretion of the Bank and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets.
Clicking on ‘Proceed’ will redirect you to a third party website.
Clicking on ‘Apply Now’ will redirect you to a third party website.
Clicking on ‘Apply Now’ will redirect you to a third party website.
Clicking on ‘Apply Now’ will redirect you to a third party website.