How to Calculate Home Loan EMI via EMI Calculator and Excel Sheet

Before applying for a home loan, it’s important to know exactly how much you’ll be paying each month, and that’s why you need to calculate home loan EMI beforehand to know exactly how much you are being committed to.

To make this calculation easier, you can either use a Home Loan EMI Calculator  or calculate EMI manually via excel.  It would help you understand your financial commitments, helping you plan your finances better.

In this blog, we’ll walk you through how to calculate home loan EMI using EMI calculator and excel so you can plan your home loan confidently and smartly.

How to Calculate Home Loan EMI with Excel

To calculate EMI (Equated Monthly Instalment) in Excel, you can use the built-in PMT function. Here's how to do it:

PMT Function Syntax:

=PMT(rate, nper, pv, [fv], [type])

• rate: Interest rate per period (monthly interest rate)
• nper: Total number of payment periods (months)
• pv: Present value or loan amount
• fv: [optional] Future value (usually 0 for loans)
• type: [optional] 0 (end of period) or 1 (beginning)

Suppose you have:

• Loan Amount = ₹50,00,00
• Annual Interest Rate = 10%
• Loan Tenure = 20 years

Home Loan EMI Calculation in Excel:

1. Enter:

• A1 = 5000000 (Loan Amount)
• A2 = 10% (Annual Interest Rate)
• A3 = 20 (Tenure in Years)

2. EMI Formula: =PMT(A2/12, A3*12, -A1)

Explanation:

• A2/12 converts annual rate to monthly
• A3*12 converts years to months
• -A1 makes sure the result is positive (PMT returns negative for cash outflows

On entering the formula, you’ll get to know your EMI details. That said, manual calculations can be taxing and may leave room for errors. Use Ujjivan SFB’s Home Loan EMI Calculator to make the calculation process simpler.

What is a Home Loan EMI Calculator?

The Ujjivan SFB EMI Calculator is an online tool that lets you estimate your monthly loan repayments before you apply. It uses basic inputs like loan amount, interest rate, and tenure to help you calculate home loan EMI and total payable interest.

Unlike manual calculations, this tool gives you:

• Quick results in real-time
• You get to know the interest and principal amount along with your EMI
• Flexibility to test different scenarios by changing values

It’s especially useful for first-time home buyers who want to know if a particular loan amount is affordable or how interest rates affect their monthly budget.

Key Features of Home Loan EMI Calculator

Here’s what makes EMI calculator easy and effective to use:

• Quick and Instant Output: As soon as you enter your details, the calculator displays your EMI, total interest, and total repayment — saving you from complex math.
• User-Friendly Interface: You don’t need to create an account or be financially expert. The design is clean and intuitive for anyone to use and calculate home loan EMIs.
• Minimal Inputs Required: Just enter the loan amount (₹), tenure and applicable interest rate.
• Free and Accessible Anytime: You can use it as often as needed to compare different scenarios — absolutely free.

How to Use the Home Loan EMI Calculator

Using the EMI calculator to calculate home loan EMI is quick and doesn’t require any login or technical know-how. Just follow these four steps:

Step 1: Enter Loan Amount

Type in the total amount you plan to borrow — for example, ₹20,00,000 or ₹40,00,000.

Step 2: Select Loan Tenure (in months)

Choose how long you want to repay the loan, usually up to 240 months or 20 years. A longer tenure reduces monthly EMI but increases total interest.

Step 3: Enter or Select the Interest Rate

Add the expected annual interest rate offered by Ujjivan SFB. You can find this on the website or your pre-approved offer.

Step 4: Click ‘Calculate’

Once you enter the above values, the calculator instantly shows your monthly EMI and total repayment figures.

You can easily adjust the inputs to calculate home loan EMI’s of various combinations and compare loan affordability.

Understanding the Output

After you calculate home loan EMI, the tool provides three important numbers:

1. Monthly EMI

The fixed amount you will pay each month to your lender, which includes both principal and interest.

2. Total Interest Payable

This is the cumulative interest you'll pay over the entire loan tenure. For example, a ₹20 lakh loan at 8.5% for 20 years might incur around ₹21 lakh in interest — nearly doubling your repayment amount.

3. Total Payment (Principal + Interest)

The grand total of your loan — principal + interest. It helps you clearly see the full cost of borrowing and make informed decisions.

These values help you estimate your long-term commitment, and whether you should consider prepayments, shorter tenure, or negotiating a better interest rate.

How Useful  is  Home Loan EMI Calculator

The EMI calculator  helps you plan, prepare, and borrow smartly.

Here’s why it matters:

• Budget Planning: Knowing your EMI helps you adjust your monthly expenses ahead of time.
• Loan Comparison: Try different loan amounts, interest rates, and tenures to find the most affordable option.
• Decision Support: Understand how a higher down payment or a lower tenure can save you thousands in interest.