Home Loan EMI Calculator

Calculate your EMI for home loan by using Axis Bank home Loan EMI Calculator.

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Home Loan EMI Calculator

Buying a house is a financial goal and to accomplish it, a home loan can come to your aid. A loan provides financial resource. With an Equated Monthly Instalment (EMI) facility, repayments become comfortable.

That said, before you avail of a home loan, as a prudent loan planning exercise, always assess how much the EMI will be. After all, availing a home loan is an important financial decision.
The EMI (or Equated Monthly Instalment) of your loan consists of the principal portion and the interest. Therefore, EMI = principal amount + interest paid on the loan.

The EMI, usually, remains fixed for the entire tenure of your loan and it is to be repaid over the tenure of the loan on a monthly basis. During the initial years of your loan tenure, you pay more towards interest. Gradually, as you repay the loan, a higher portion is adjusted towards the principal component. This is because EMIs are computed on a reducing balance method, which works in your favour as a borrower.

Remember, the interest rate and your loan tenure are the vital deciding factors for your loan EMI.

To know how much will the EMI be on your home loan, use Axis Bank's EMI calculator. Axis Bank’s Home loan EMI Calculator is an automatic tool that makes loan planning easier for you.

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Break-up of Total Payment

Principal Amt
Interest Amt
Total Amt Payble

Amortization Schedule

home loan interest rates with further options for you to choose between fixed or floating rates throughout the loan tenure.

You can also find out the Axis Bank home loan eligibility criteria online. for Axis Bank offers Home Loans online


Axis Bank does not guarantee accuracy, completeness or correct sequence of any the details provided therein and therefore no reliance should be placed by the user for any purpose whatsoever on the information contained / data generated herein or on its completeness / accuracy. The use of any information set out is entirely at the User's own risk. User should exercise due care and caution (including if necessary, obtaining of advise of tax/ legal/ accounting/ financial/ other professionals) prior to taking of any decision, acting or omitting to act, on the basis of the information contained / data generated herein. Axis Bank does not undertake any liability or responsibility to update any data. No claim (whether in contract, tort (including negligence) or otherwise) shall arise out of or in connection with the services against Axis Bank. Neither Axis Bank nor any of its agents or licensors or group companies shall be liable to user/ any third party, for any direct, indirect, incidental, special or consequential loss or damages (including, without limitation for loss of profit, business opportunity or loss of goodwill) whatsoever, whether in contract, tort, misrepresentation or otherwise arising from the use of these tools/ information contained / data generated herein.

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Frequently Asked Questions

  • What is Home Loan EMI?

    EMI’s or Equated Monthly instalments are a systematized and comfortable approach to repaying loans availed. The amount repayable (amount borrowed + amount payable towards interest) is divided throughout the tenor of the loan with uniform amounts payable per month.

    Each such monthly amount repayable is called an EMI

    To allocate amount paid towards the interest and principal, applicants are provided an amortization schedule which indicates corresponding balance amounts per year.

  • What is a Home Loan Amortization Schedule?

    Though the EMIs remain largely uniform throughout the tenure of their loan, the amounts repaid are credited towards the principal and interest to be repaid. Typically the initial instalments contribute more towards the interest amount with later instalments going towards the principal.

    An amortization schedule provides the break-up of these amounts repaid towards principal and interest along with their respective balances through every year of the loan.

    Simply put, an amortization schedule is the road map towards the repayment of your home loan denoting the milestones and the ideal points you should be at through the cycle.

  • How Does Axis Bank's Home Loan EMI Calculator Work?

    Use Axis Bank’s Home Loan EMI calculator to plan the tenure and repayment structure for your loan.
    Simply key in the amount, rate and tenure for which the home loan is sought, the Home Loan EMI Calculator will automatically reflect the EMIs applicable for the loan tenure.

    Also, remember to refer the amortization table for a year-wise plan of repayments throughout the loan tenure.

    For further details or to begin availing your loan, simply click on the “Get a call back” button and fill in your details.

  • Who can apply for a home loan?
    • Salaried individuals (working in government and private sector)
    • Professionals (i.e. doctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretary, management consultants, etc.)
    • Self-employed in business and filing Income-Tax Returns
    • Individuals over 21 years of age and ideally not over 60-65 years.
  • Typically, what documents are needed to avail a home loan?

    The documents required for a home loan application process include the following:

    • Income statements
    • Salary slips and Form 16
    • Bank statements
    • Latest Income-Tax Returns
    • Credit report
    • Age proof (Aadhaar, Passport, PAN card, Driving License, etc.)
    • Address proof (Aadhaar, Passport, Driving License, electricity bill, telephone bill, ration card, etc.)
    • Photo identification proof (Aadhaar, Passport, PAN card, Voter id, Driving license, etc.)
    • Property documents (Sale deed, agreement of sale with the builder, Land and building tax paid receipts, certified copy of the sanctioned plan of the property, possession certificate, original receipts of the advance paid for purchase, detail of estimated cost of construction, No Objection Certificate (NOC) from the housing society or builder, letter from the builder/society/housing board stating their bank account details for remittances)

    For Home Loan balance transfer, i.e. takeover of the loan from another bank/financial institution, the following is required:

    • The original list of documents from the previous financer
    • Latest 12 months loan A/C statement with the latest outstanding letter
    • Existing loan details and 6 months bank statement from where EMI is deducted
    • Own contribution receipts
    • Indenture of guarantee, an undertaking of indemnity, forwarding letter and Annexures in Axis Bank format
  • How much is the minimum borrowing under a home loan?

    The minimum borrowing under the home loan is Rs 3 lakh.

  • When will my home loan EMI be due?

    Your EMI will be due on a fixed date each month. This date will be notified when your loan is disbursed.

  • Can a Home Loan be availed for Home improvements or a Home extension?

    Yes, the home loan can also be availed to construct, repair, renovation, and home extension.

  • Is there are tax benefit when you avail a home loan?

    Yes, there are tax benefits of availing a home loan. The principal portion of your home loan EMI is eligible for a deduction under Section 80C of the Income-tax Act, 1961, subject to a maximum limit of Rs 1.50 lakh.

    If you are a “first-time home buyer”, you can even claim an additional deduction upto Rs 50,000 under Section 80EE (subject to certain conditions). This additional deduction can be availed after first exhausting the limit under Section 24(b) for the interest portion.

    Section 24(b) of the Income-tax Act, 1961, allows a deduction for the interest component of the home loan EMI. For a self-occupied property, the deduction under Section 24(b) is Rs 2.00 lakh per annum.

    And in case the house is let-out on rent, i.e. it is a Let-Out Property (LOP), the actual interest payable is eligible for deduction under Section 24(b), thereby not being subject to any maximum limit.

    Do note, if you have taken a loan for the purpose of reconstructing, repairing or renovating the property, the amount of deduction you are eligible for under Section 24(b) will be restricted to Rs 30,000, irrespective whether you want to stay in it or let it out on rent.

  • Why Choose Axis Bank Home Loan?

    Some of the key benefits of choosing an Axis Bank Home Loan are;

    • Quick and Transparent application process; you could check your loan eligibility here, calculate the EMI online and begin the application for your loan. Disbursal of the loan can be done as quickly as 15 days post-application. Premium banking customers can directly contact their relationship managers.
    • Flexibility of interest rates and tenure; Axis Bank Home loans provide competitive interest rates with further options for you to choose between fixed or floating rates throughout the loan tenure. The tenure too can be set as per your requirement and convenience; either for a short period to ensure that your interest payable is minimal or over a duration spanning as long as 30 years to facilitate a low EMI.
    • Added benefits for transfer/prepayment; Axis Bank home loans carry no charges towards pre-payment of your loan. You can also easily transfer your existing home loans to Axis Bank without any hassle.
    • Doorstep collection service; facility for applying for Axis Bank home loan and making a payment towards already availed of home Loan from the comfort of your home.

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