A home loan EMI calculator is a tool that helps you figure out your monthly mortgage payments by considering factors like loan amount, interest rate, and tenure. Just enter these details, and it will instantly calculate your EMI, helping you plan your finances better!
Your Home, Your Dream: Simplified!
Calculate your mortgage EMI in seconds with RING’s super-easy home loan EMI calculator.
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About Our Mortgage loan EMI calculator
RING brings you the ultimate home loan EMI calculator, designed to make your mortgage journey smooth and stress-free. Whether you’re planning to buy a new home or simply checking the numbers, our home loan calculator does all the heavy lifting. Enter your loan amount, interest rate, and tenure to instantly know your EMI and overall cost—no more complicated math or guesswork!
Benefits of Mortgage loan EMI calculator
Instant calculations with our home loan EMI calculator.
Plan your finances effortlessly using our simple interest calculator.
Compare loan tenures and interest rates with ease.
Adjust payments and see how your EMI changes instantly.
Features of Mortgage loan EMI calculator
Credit Up to Rs. 5 Lakhs
Avail of credit up to Rs. 5 lakhs with paperless KYC.
Flexible Repayment
Choose repayment periods from 3 to 60 months.
Instant Approval
Money transferred to your bank account in 5 minutes.
No Physical Paperwork
100% Digital - Hassle-free process
No Collateral Required
Secure a loan without pledging any assets.
Transparent Terms
Know all costs upfront with no hidden charges.
Competitive Rates
APR ranges from 32% to 67% per annum.
Multi-Purpose Loans
Use your loan for personal or business purposes
Check Your Eligibility
Instant Personal Loan Eligibility Criteria
To qualify for a personal loan applicants need to meet the following criteria:
- Nationality: Indian citizen.
- Age: Between 23 and 55 years.
- Documentation: Selfie, PAN Card, and Aadhaar Card.
- Income Proof: Required only for select high-value loans based on credit profile.
- Profile : Salaried, Self-Employed, Small busines owner & MSMEs
Having these documents prepared ensures a smoother and quicker application process
Follow these simple steps to get started:
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Verify Mobile Number
Start by entering your mobile number on the RING website or app, and you'll receive an OTP for verification. Enter the OTP to confirm your number and proceed with the registration process.
Mortgage loan EMI Calculator
Breaking Down the Cost: Interest Rates Explained
A tool designed to help you understand the monthly payment on your loan. Whenever you take a loan, the EMI amount that you will pay is very important in helping you arrive at your final loan amount and repayment tenure. Our personal loan calculator helps you do just that. You will be able to see your monthly payment, and this will help you decide what your loan amount should ideally be, and if it is payable over a period.
Principal Amount (A): ₹500,000
Interest Amount (B):
Your EMI: ₹ per month
Your Loan Amount: ₹500,000
At Interest Rate of: 2%
For : 2 years
Total Payable: ₹
Here’s a quick example to illustrate:
- Loan Amount (Principal): ₹1,00,000
- Tenure: 12 months
- Interest Rate: 13% per annum
- Processing Fee (incl. GST): ₹3000 (3%)
- Total Interest: ₹7,180.73
- EMI: ₹1,374.63
- APR: Start from 14%
Disclaimer - The Loan EMI Calculator only shows an estimate. Consult your lender for accurate details.
The Formula to Calculate EMI on Mortgage loan EMI calculator
The formula for calculating EMI is as follows:
EMI = [P x R x (1+R) ^N]/ [(1+R) ^ (N-1)]
P= Principal loan amount | R= Monthly interest rate (annual interest rate divided by 12) | N= Loan tenure in months
**To explain it further, let’s see an example:**
Suppose you take a loan for ₹5,00,000 with an annual interest rate (IR) of 10% for a tenure of, say, 5 years (60 months).
First, convert the annual interest rate to a monthly interest rate. In this case, the monthly interest rate would be 10%/12 = 0.00833.
Using the formula, you can calculate the EMI as follows:
EMI = [500000 x 0.00833 x (1+0.00833)^60] / [(1+0.00833)^60-1]
By simplifying the equation, you will find that the EMI for this loan would be approximately ₹10,609.
This means that your monthly payment will be ₹10,609 for 60 months to repay the loan amount along with the interest.
For a more detailed explanation, you can refer to this blog.
Hear from Our Happy Customers
Anjali Mehta
Mumbai
I was feeling so overwhelmed with home loan options, but the RING home loan EMI calculator made it super easy to understand the monthly payments. It's a lifesaver for first-time homebuyers like me!
Rajesh Kumar
Bengaluru
I was comparing various banks, and the RING home loan calculator helped me see which one had the best rates for me. Simple, fast, and accurate. It took all the guesswork out of the process!
Sneha Patel
Ahmedabad
As someone who’s always been cautious with finances, the RING simple interest calculator showed me exactly what I would be paying over the years. Now I can make smarter decisions without worrying about hidden costs.
Manish Sharma
New Delhi
I wanted to know how a 20-year loan compares to a 15-year one. RING’s home loan EMI calculator gave me instant insights and helped me settle on the perfect plan for my family!
Neha Singh
Pune
I loved how easy it was to calculate EMIs with RING. I simply added my loan details into the home loan calculator, and voilà—instant answers! It’s so user-friendly!
Prakash Nair
Kochi
With RING’s home loan EMI calculator, I knew exactly what I was signing up for when I applied for my mortgage. This tool made it easy to understand every aspect of the loan.
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Got Questions? Let's get to them.
What is a home loan EMI calculator, and how does it work?
Can I use a home loan EMI calculator for different loan tenures?
Yes, absolutely! Our home loan calculator lets you compare different loan tenures to see how your monthly payments change. Whether it’s 10, 15, or 20 years, you can easily tweak the numbers and find the most comfortable EMI for your budget.
What is the difference between a home loan EMI calculator and a simple interest calculator?
A home loan EMI calculator calculates your monthly installment using compound interest, while a simple interest calculator only calculates interest on the principal amount for a set period. Use both to get a clearer financial picture!
Do I need to pay to use the RING home loan calculator?
Not at all! The RING home loan EMI calculator is completely free. You can use it as many times as you want, without any charges or hidden fees.
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