What's special about us
Zero Charges on 28 Commonly Used Savings Account Services
- About Us
- MD & CEO letter about the bank
- MD & CEO
- Our History
- Letter to Shareholders on the 1st Annual Report after Merger
- Letter to Shareholders on the 2nd Annual Report after Merger
- Letter to Shareholders on the 3rd Annual Report after Merger
- Letter to Shareholders on the 4th Annual Report after Merger
- Board of Directors
- Awards & Accolades
- News Room
- Investors
- Careers
- ESG
-
As per amendment in the Income Tax Rules, PAN or Aadhaar are to be mandatorily quoted for cash deposit or withdrawal aggregating to Rupees twenty lakhs or more in a FY. Please update your PAN or Aadhaar. Kindly reach out to the Bank’s contact center on 1800 10 888 or visit the nearest IDFC FIRST Bank branch for further queries.
-
-
Home Loan EMI Calculator
If you're in the market for a new home, you'll likely need to take out a loan to afford it. When you do, it's important to understand your monthly payments and how they'll impact your budget. Use this handy calculator to estimate your home loan EMI and get a better idea of what you can afford.Read More
IDFC FIRST Bank offers home loans for buying homes at interest rates, starting at 8.45%. We offer home loans at attractive interest rates, long tenures, along with loan top-ups making it easier to afford your dream home.
You can determine the EMI that you will have to pay using our online home loan EMI calculator.Read Less
CALCULATOR
Calculate you Home Loan EMI
-
Sanjay Mehere
"I had transferred my existing home loan 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
Amortization Schedule
Month
Principal
Interest
EMI
Balance
Loan Paid to Date
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:
Get an accurate estimate of your EMI
The financial tool can help you determine the exact EMI amount you would pay every month, helping you plan your payments better. The EMI or equated monthly instalment is the amount that includes part of the principal amount and interest on the principal amount outstanding. Here, the principal amount is the home loan amount you wish to borrow from the bank. 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, a greater contribution goes towards the principal.
Banks and financial institutions calculate the EMI using a common mathematical formula. The amortization schedule given by them are similar for a certain amount of loan, interest, and tenure.
Find out the lowest prevailing interest rate
Our online home loan EMI calculator helps you check the prevailing interest rate for loans offered. IDFC FIRST Bank helps you check the latest interest rate charged on these loans to compare the interest rates.
Don't waste your time on complicated calculations
It is rather tedious to calculate EMI manually. You will end up redoing your calculations many times if you make any errors. Our easy-to-use online home loan EMI calculator is a simple and convenient way to find out the EMIs for purchasing an apartment, row house or bungalow.
Get an accurate estimate of your EMI
The financial tool can help you determine the exact EMI amount you would pay every month, helping you plan your payments better. The EMI or equated monthly instalment is the amount that includes part of the principal amount and interest on the principal amount outstanding. Here, the principal amount is the home loan amount you wish to borrow from the bank. 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, a greater contribution goes towards the principal.
Banks and financial institutions calculate the EMI using a common mathematical formula. The amortization schedule given by them are similar for a certain amount of loan, interest, and tenure.
Find out the lowest prevailing interest rate
Our online home loan EMI calculator helps you check the prevailing interest rate for loans offered. IDFC FIRST Bank helps you check the latest interest rate charged on these loans to compare the interest rates.
Don't waste your time on complicated calculations
It is rather tedious to calculate EMI manually. You will end up redoing your calculations many times if you make any errors. Our easy-to-use online home loan EMI calculator is a simple and convenient way to find out the EMIs for purchasing an apartment, row house or bungalow.
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.
Read more about Products and
Services
Download IDFC FIRST Bank App
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.
Home Loan Blogs
FEATURED
Home Loan Insurance: Should you get one?
Due to the rising value of residential properties across the country, home loan insurance, which is also known as mortgage insurance, has almost become a necessity. Most people buy home loan insurance to safeguard their future and the futures of their family members. This deep dive will help you understand home loan insurance and its benefits.
Team FinFIRST10 Dec 2021 • 3 mins read
-
What is Co-Applicant in Home Loan?
09 Dec 2021 • 3 mins read
-
Prepaying your Home Loan: Know these charges and interests
07 Dec 2021 • 3 mins read
-
What is Repo Rate - Definition of Repo Rate
24 Nov 2021 • 3 mins read
-
Floating or Fixed Interest Home Loan: Which one is better for you?
16 Nov 2021 • 3 mins read
