Indian Bank Mortgage Loan Interest Calculator

Mortgage Loan Interest Calculator

Loan Amount (INR) Loan Tenure (Years) Annual Interest Rate (%) Monthly EMI (INR)

function calculateMortgageEMI() { const loanAmount = parseFloat(document.getElementById(“loanAmount”).value); const loanTenure = parseFloat(document.getElementById(“loanTenure”).value) * 12; // Convert years to months const interestRate = parseFloat(document.getElementById(“interestRate”).value) / 100 / 12; // Convert percentage to decimal and monthly if (isNaN(loanAmount) || isNaN(loanTenure) || isNaN(interestRate) || loanAmount <= 0 || loanTenure <= 0 || interestRate el.value = “”); document.getElementById(“monthlyEMI”).value = “”; }

This calculator helps you estimate the monthly EMI for your mortgage loan based on the loan amount, tenure, and interest rate. Input these details, and you can quickly calculate your monthly payment.

Formula

EMI = P × r × (1 + r)^n / ((1 + r)^n – 1)

Where:
P = Loan Amount
r = Monthly Interest Rate
n = Loan Tenure in Months

Example Calculation

For a loan amount of ₹500,000 with a 7.5% annual interest rate over 15 years, the EMI is calculated as ₹4,545.19.

Why It Matters

Understanding your EMI is crucial for financial planning and ensuring you can comfortably manage your monthly expenses while repaying the loan.

Mortgage Loan Interest Calculator

Formula

Example Calculation

Why It Matters

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