Mortgage Calculator

Plan your home purchase with detailed monthly payment and amortization breakdown.

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Mortgage Calculator
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Monthly EMI
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Principalโ‚น0
Total Interestโ‚น0
Loan Amount
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Total Interest
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Total Cost
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Down Payment %
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๐Ÿ“ขAdvertisement300ร—250

๐Ÿ’ก Mortgage Tips

  • Higher down payment = lower EMI and interest
  • Shorter tenure saves on total interest paid
  • Check for prepayment penalty before foreclosing

Understanding Your Mortgage

A mortgage is a loan secured against a property. In India, home loans are the most common form of mortgage, offered by banks and NBFCs at floating or fixed interest rates.

Mortgage EMI Formula

EMI = [P ร— r ร— (1+r)โฟ] / [(1+r)โฟ โˆ’ 1]

Where P = Loan amount, r = Monthly rate, n = Months

๐Ÿ“‰ Floating Rate

Linked to RBI repo rate; changes with market conditions.

๐Ÿ“Œ Fixed Rate

Constant throughout tenure; offers predictability.

๐Ÿ”„ Balance Transfer

Move your mortgage to another lender for better rates.

โšก Prepayment

Extra payments reduce principal and save on interest.