FIRST Millennia
FIRST Classic
FIRST Select
FIRST Wealth

Notifications

  • Happy Teachers' Day! Thank you for teaching us the value of Savings

    teachers-day
  • Home Loans, now at 6.90% p.a.

    Unlimited benefits with a start-to-finish digital process with IDFC First Bank Home Loans

    Home Loan
  • Activate your Credit Card within minutes and enjoy unlimited benefits

  • One FASTag, three payments:Toll, fuel and parking

    The only FASTag with triple benefits

Home Loan EMI Calculator

Buying a home is a long-term financial goal, which you can achieve it with a home loan. A home loan helps you accumulate sufficient capital, and you can repay it in equated monthly instalments (EMI). How much would be the EMI? If you are unsure, IDFC FIRST Bank’s home loan calculator is just what you need to calculate your Home Loan EMI easily. IDFC FIRST Bank’s EMI calculator is a useful tool to help you make informed choices about buying a new home. With the EMI calculator, you can make home loan planning easily. IDFC FIRST Bank offers you loans for buying homes at interest rates starting at 6.90 percent. They come with several benefits like attractive interest rate, long tenure, top-up loan, and more to make it easier.Read More

You can calculate the EMI amount that you will have to pay every month using our home loan EMI calculator online.Read Less

CALCULATOR

Home Loan EMI Calculator

Choose the amount

1L 50L

Choose the period

1 Year 30 Year

Choose the interest rate

8 % 15 %

You will pay an EMI of only monthly

  • Sanjay Mehere Testimonial
    Sanjay Mehere

    "I had transferred my existing home loan relationship to IDFC FIRST Bank, and the loan disbursement was done with quick turnaround time because of their seamless login process and excellent staff support. I would like to thank the team for all their support, and I will always be happy to share my experience with my acquaintances."

  • Rajambal Testimonial
    Rajambal

    "I'd like to thank IDFC FIRST Bank for letting me buy my own home. The team's service has been tremendous. All the documentation and other related services were well taken care of. I would personally like to thank the branch executives who helped me through the process."

Home Loan Calculator Features and Benefits

Now you know how to use the IDFC FIRST Bank’s home loan EMI calculator. Why should you use it? Here are some features and benefits of using the online home loan calculator:

It helps you get an accurate EMI amount that you would pay monthly

The home loan EMI calculator can help you know the exact EMI amount you would pay every month to help you plan your cash flow. The EMI or equated monthly instalment is the amount that includes a part of the principal amount and interest on the principal amount outstanding. Here the principal amount is the home loan amount you want to borrow. The proportion of the principal amount and interest in the EMI keeps changing. In the beginning, you will pay more towards the interest than towards the principal amount. Later, it is the other way around.

Using a common mathematical formula banks and financial institutions calculate the EMI, and therefore, the amortization schedule given by them are similar for a certain amount of loan, interest and tenure.

It helps you know the lowest prevailing interest rate

With the home loan interest rates calculator, you can check the prevailing interest rate for loans offered. IDFC FIRST Bank helps you check the latest interest rate charged on these loans to enable you compare the interest rates.

It saves you from complex calculations

You can use the IDFC FIRST Bank’s home loan interest calculator online to know the EMIs for the loan for buying a flat, row house or bungalow. It is complex or rather tedious to calculate EMI manually. Any mistake can lead to confusions and make you redo the calculations again and again.

It helps you get an accurate EMI amount that you would pay monthly

The home loan EMI calculator can help you know the exact EMI amount you would pay every month to help you plan your cash flow. The EMI or equated monthly instalment is the amount that includes a part of the principal amount and interest on the principal amount outstanding. Here the principal amount is the home loan amount you want to borrow. The proportion of the principal amount and interest in the EMI keeps changing. In the beginning, you will pay more towards the interest than towards the principal amount. Later, it is the other way around.

Using a common mathematical formula banks and financial institutions calculate the EMI, and therefore, the amortization schedule given by them are similar for a certain amount of loan, interest and tenure.

It helps you know the lowest prevailing interest rate

With the home loan interest rates calculator, you can check the prevailing interest rate for loans offered. IDFC FIRST Bank helps you check the latest interest rate charged on these loans to enable you compare the interest rates.

It saves you from complex calculations

You can use the IDFC FIRST Bank’s home loan interest calculator online to know the EMIs for the loan for buying a flat, row house or bungalow. It is complex or rather tedious to calculate EMI manually. Any mistake can lead to confusions and make you redo the calculations again and again.

Calculate your Home Loan EMI

The online calculator given is an easy-to-use tool to help you plan your home loan EMI. It processes the basic details you provide based on the assumptions. Therefore, the results generated solely and completely depend on the information provided by you. IDFC FIRST Bank does not guarantee accuracy, completeness or correctness of any details provided therein.

How to use IDFC FIRST Bank’s Home Loan Calculator?

The home loan interest calculator from IDFC FIRST Bank requires some basic details of the home loan you want to avail. You can calculate the EMI payable by providing the details such as:

  • Desired loan amount – You can use the slider to choose the loan amount, or type it in the box.
  • Tenure: Use the slider to choose the loan tenure. For instance, you can choose 240 months, which is 20 years.
  • Interest rate: Choose or type in the interest rate.

To know the current Home Loan interest rate, click here.

FREQUENTLY ASKED QUESTIONS

What is the EMI for 20 lakhs home loan?

The EMI amount for 20 lakhs for 15-year tenure is Rs. 17, 865. You can use the home loan EMI calculator given in IDFC FIRST Bank website to calculate the EMI for any tenure you want. All you have to do is to choose the loan amount, period and interest rate to know the EMI.

What does an EMI mean?

An EMI or equated monthly installment is a fixed payment you pay to us as a borrower of a home loan at a particular date every month until the end of the term. The EMI amount includes a portion of the principal amount and the interest. Initially, the interest will be a major portion, but as the loan matures, the principal portion will cover the major part of the EMI.

How do I apply for a Home Loan?

You can apply for an IDFC FIRST Bank home loan online in a few simple steps:

  • Log into our website and submit the required details
  • Our representative will call you to let you know the home loan eligibility
  • If you are eligible, you have to give all the essential documents to our representative 
  • Then, you will be called for a short discussion in person 
  • We conduct a verification process to check and confirm the details provided 
  • After verifying your details successfully, we sanction the loan 
  • The money is deposited in your bank in full or installments depending on your situation.

When does my home loan EMI start?

Once we disburse your home loan, the EMI starts from the subsequent month. However, you will be informed the date.

How is a home loan EMI calculated?

A home loan EMI is calculated using a simple formula, and most banks, including IDFC FIRST Bank, use the same one to arrive the EMI amount. To help you we have the home loan EMI calculator on our website, and you have to just choose the loan amount, tenure and interest rate to get the EMI.

What is the EMI for 30 lakhs Home Loan?

For 30 lakhs, the EMI is Rs. 26, 797 for 15 years; if you choose 20-year tenure, then you will have Rs. 23,079 as EMI every month.

Can I get 100% home loan?

You can avail 90 percent of the cost of your home or property depending on your situation. IDFC FIRST Bank offers you a home loan of 75 to 90 percent of the cost of the property. This applies to home loans for construction, improvement and extension. 

Who can apply for a home loan?

If you are a salaried or self-employed individual, you can avail our home loans on flexible repayment options. Sole proprietors and partners of a partnership firm can also avail IDFC FIRST Bank home loan. However, you need to satisfy certain requirements like:

  • Your minimum age should be 21 years and maximum 70 years at the time of maturity
  • You should have 3 years of work experience or be in business for at least 3 years
  • You should also have a good credit score and repayment history

How much is the minimum borrowing under a home loan?

The minimum amount you can borrow is 3 lakhs.

Conclusion

With a home loan being a high value loan, which spreads out over 15 or more years, and keeps you indebted until you pay it off, it is important that you consider your affordability. The home loan interest calculator online can help you know the nature of your EMIs.

More FAQs