How to Calculate Home Loan EMI via EMI Calculator and Excel Sheet
July 05, 2025

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])
Suppose you have:
Home Loan EMI Calculation in Excel:
1. Enter:
2. EMI Formula: =PMT(A2/12, A3*12, -A1)
Explanation:
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:
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:
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:
Final Thoughts
Now that you know how to calculate home loan EMI, use an EMI Calculator to plan your home loan better.
Buying a house has never been this easy! Avail Ujjivan SFB’s wide range of affordable home loan products and enjoy a hassle-free loan journey. From house purchase loan to plot loans and home improvement loans, we have it all! Alternatively, you can browse through Ujjivan SFB product suite - our wide range of financial products are designed to make your financial life better.
Disclaimer:
The contents herein are only for informational purposes and generic in nature. The content does not amount to an offer, invitation or solicitation of any kind to buy or sell, and are not intended to create any legal rights or obligations. This information is subject to updation, completion, amendment and verification without notice. The contents herein are also subject to other product-specific terms and conditions, as well as any applicable third-party terms and conditions, for which Ujjivan Small Finance Bank assumes no responsibility or liability.
Nothing contained herein is intended to constitute financial, investment, legal, tax, or any other professional advice or opinion. Please obtain professional advice before making investment or any other decisions. Any investment decisions that may be made by the you shall be at your own sole discretion, independent analysis and evaluation of the risks involved. The use of any information set out in this document is entirely at the user’s own risk. Ujjivan Small Finance Bank Limited makes no representation or warranty, express or implied, as to the accuracy and completeness for any information herein. The Bank disclaims any and all liability for any loss or damage (direct, indirect, consequential, or otherwise) incurred by you due to use of or due to investment, product application decisions made by you on the basis of the contents herein. While the information is prepared in good faith from sources deemed reliable (including public sources), the Bank disclaims any liability with respect to accuracy of information or any error or omission or any loss or damage incurred by anyone in reliance on the contents herein, in any manner whatsoever.
To know more about Ujjivan Small Finance Bank Products Visit:"https://www.ujjivansfb.in"
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FAQs
1. Can I use a home loan EMI calculator for other types of loans?
While it's designed for home loans, the EMI logic applies to personal or vehicle loans too — just ensure you input correct tenure and rates.
2. Does this calculator include processing fees or GST?
No. It calculates EMI based on principal, rate, and tenure only. Additional charges need to be considered separately.
3. Is this an official loan quote?
No. It’s an estimate. The actual EMI may vary based on your credit profile, final rate, and loan terms.
4. Can I use this calculator to compare two different loan offers?
Yes. You can manually enter different loan amounts, interest rates, or tenures to compare EMI outcomes and decide which offer suits your budget best.
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