|
Loan Amount (P) |
3000000 |
|
Interest Rate |
10.75 |
|
Interest Rate in % per Month ( r ) |
0.008958333 |
|
Tenure: No. Of Installments (Years) |
10 |
|
Tenure: No. Of Installments (Months) (n) |
120 |
|
Processing Fee (0.5%) |
15000 |
|
Total Interest Amount payable by the end of tenure |
3225000 |
|
Interest Potion in EMI Amount |
322500 |
|
Pre-payment Fee |
|
1+r |
1.0 |
||
 |
(1+r)^n |
2.9 |
|
|
((1+r)^n – 1) |
1.9 |
||
|
P*r |
26875 |
|
EMI |
40902 |
|
Total Interest Amount payable by the end of tenure |
1908192 |
|
Total Interest Amount payable in EMI |
15902 |
|
Overall (principal + Interest) Amount payable by the end of tenure |
4908192 |
|
Calculations at the end of the loan closure |
|
|
Home Loan |
3000000 |
|
Home Loan Interest |
1908192 |
|
Overall Cost of the home |
4908192 |
|
Rent you might earn during the loan period (that can be counted in for EMI) |
2400000 |
|
Net EMI you need to pay |
20902 |
|
Net worth of the home costing you after deducting the rent earned |
2508192 |
|
Benefit of rent amount surparsing the interest amount |
491808 |
|
Benefit of Tax exemption for the principal amount (1 Lac per annum) |
20000 |
|
Benefit of Tax exemption for the Interest amount (1.5 Lac per annum) |
30000 |
|
Overall Principal and Interest Tax benefit at the end of tenure |
500000 |
|
Net worth of the home costing you after deducting the tax benefits as well |
2008192 |
|
|
Housing Loan EMI Excel calculators:
References:
BankBazar Housing Loan EMI Calculator
The Money Quest: Home Loan Tax Benefits – Section 80c vs. 24(b)
0 thoughts on “Home Loan EMI Calculator including Principal and Interest Breakup”
Calculations shown in good way. But then there are many good applications available over the web and mobile which helps you calculating EMI for your home loan amount.
That’s true…these still work better for people who don’t just want to do a calc but likes to how its done and understand with an example right away without any further efforts.
You’re so awesome! I don’t think I’ve truly read through a single thing like that before. So nice to discover another person with a few original thoughts on this subject matter. Seriously.. thank you for starting this up. This website is something that is needed on the internet, someone with a bit of originality!