Mortgage Calculator
Calculate EMI, total interest & amortization schedule
Loan Details
Results
Monthly EMI
₹0
Total Interest Payable
₹0
Total of All Payments
₹0
Total Loan Amount
₹0
Amortization Schedule (First 12 Months)
| Month | Opening Balance | Interest | Principal | EMI | Closing Balance |
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Frequently Asked Questions
What is a mortgage?
A mortgage is a loan used to purchase real estate, where the property itself serves as collateral for the loan until it is fully repaid.
How is the EMI calculated?
EMI is calculated using the formula EMI = P × i × (1+i)^N / ((1+i)^N − 1), where P is the loan principal, i is the monthly interest rate, and N is the total number of monthly installments.
How does tenure affect my loan?
A longer tenure lowers your monthly EMI but increases the total interest paid over the life of the loan. A shorter tenure raises the EMI but reduces total interest.
Can I prepay my mortgage?
Most banks and housing finance companies allow prepayment of the outstanding principal, which reduces future interest obligations and can shorten the loan tenure.