Mortgage Loan EMI Calculator
Are you planning to take a loan against your property to help with your expenses? Use the Money View Mortgage Loan EMI calculator to quickly find out your EMI and plan out your finances....
All you need to enter is the loan amount that you wish to avail, the interest rate, and the repayment term. Within a minute you’ll be able to find out the EMI amount that you need to pay.
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Loan Amount
1L 
1.25CR 
2.50CR 
3.75CR 
5CR 
6.25CR 
7.50CR 
8.75CR 
10CR
Rate of Interest
8% 
12% 
16% 
20% 
24%
Tenure
1yr 
5yr 
10yr 
15yr 
20yr 
25yr 
30yr
EMI Schedule
Year  Opening Balance  Interest  Principal  Closing Balance 

2021  ₹ 1,00,00,000  ₹ 8,73,210  ₹ 48,540  ₹ 99,51,460 
2022  ₹ 99,51,460  ₹ 14,86,450  ₹ 93,690  ₹ 98,57,770 
2023  ₹ 98,57,770  ₹ 14,71,390  ₹ 1,08,752  ₹ 97,49,018 
2024  ₹ 97,49,018  ₹ 14,53,908  ₹ 1,26,234  ₹ 96,22,784 
2025  ₹ 96,22,784  ₹ 14,33,614  ₹ 1,46,526  ₹ 94,76,258 
2026  ₹ 94,76,258  ₹ 14,10,061  ₹ 1,70,083  ₹ 93,06,175 
2027  ₹ 93,06,175  ₹ 13,82,717  ₹ 1,97,421  ₹ 91,08,754 
2028  ₹ 91,08,754  ₹ 13,50,984  ₹ 2,29,160  ₹ 88,79,594 
2029  ₹ 88,79,594  ₹ 13,14,143  ₹ 2,65,998  ₹ 86,13,596 
2030  ₹ 86,13,596  ₹ 12,71,382  ₹ 3,08,760  ₹ 83,04,836 
2031  ₹ 83,04,836  ₹ 12,21,749  ₹ 3,58,394  ₹ 79,46,442 
2032  ₹ 79,46,442  ₹ 11,64,137  ₹ 4,16,007  ₹ 75,30,435 
2033  ₹ 75,30,435  ₹ 10,97,260  ₹ 4,82,882  ₹ 70,47,553 
2034  ₹ 70,47,553  ₹ 10,19,634  ₹ 5,60,509  ₹ 64,87,044 
2035  ₹ 64,87,044  ₹ 9,29,530  ₹ 6,50,610  ₹ 58,36,434 
2036  ₹ 58,36,434  ₹ 8,24,941  ₹ 7,55,200  ₹ 50,81,234 
2037  ₹ 50,81,234  ₹ 7,03,539  ₹ 8,76,602  ₹ 42,04,632 
2038  ₹ 42,04,632  ₹ 5,62,625  ₹ 10,17,521  ₹ 31,87,111 
2039  ₹ 31,87,111  ₹ 3,99,052  ₹ 11,81,091  ₹ 20,06,020 
2040  ₹ 20,06,020  ₹ 2,09,186  ₹ 13,70,958  ₹ 6,35,062 
2041  ₹ 6,35,062  ₹ 24,029  ₹ 6,34,363  ₹0.00 
How does the Money View Mortgage Loan EMI Calculator work
Every loan is repaid through a set amount of money each month called EMI (Equated Monthly Installment) from the borrower to the lender until the loan amount has been repaid fully. The EMI amount is determined by the principal amount availed, the interest rate charged, and the repayment term.
Knowing the EMI amount that you will potentially have to pay will help you plan out your finances and check the impact of the same on your budget.
We understand that such calculations might be tedious and prone to mistakes. Therefore, we have designed our calculator to be as simple as possible. To use our calculator all you will need to do is as follows 

• Enter the loan amount that you want to avail yourself of. You can use the slider to adjust the amount.

• Next, provide the rate of interest and this can be adjusted by using the slider.

• Lastly, use the slider to enter the repayment tenure. choose
That’s it! Three simple steps to find out the EMI amount you will have to pay. EMI calculation has never been simpler.
Mortgage Loan EMI Calculation Formula
The formula to calculate your mortgage loan EMI is as follows 
P x R x (1+R)^{N} / [(1+R)^{N1}]
Where,
• P is the borrowed principal amount.
• R represents the rate of interest.
• N is the tenure in the number of months.
For example, if Rs. 20,00,000 is the amount borrowed (P), 5% is the rate of interest imposed (R), and the 24 months is the tenure (n), the EMI to be paid using the above formula will be:
20,00,000 x 0.0041 x (1+0.0041)^{24} / [(1+0.0041)^{241}] = Rs. 87,742.78 (per month)
The rate of interest (R) is calculated monthly i.e. it is calculated as (Annual Rate of interest/12/100) in this case (5/12/100 = 0.0041)
Mortgage Loan Amortization Schedule
In addition to knowing the EMI amount to be paid, one must also be aware of the amortization schedule of their loan repayment. This is a table of periodic EMI payments that illustrates the amount of principal and interest left in each payment until the loan is paid fully. While the EMI amount may remain the same, the principal and interest amount will vary each month. Take a look at the table below which shows the EMI schedule for the example given above.
Year  EMI Paid for Each Year (Principal + Interest)  Outstanding Balance  

Interest Repaid  Principal Repaid  
1 
₹68,277.41 
₹8,09,150.39 
₹12,28,398.91 
2 
₹36,458.56 
₹10,16,454.73 
₹1,75,485.55 
3 
₹1,090.73 
₹1,74,394.83 
₹0.00 
Factors Affecting Mortgage Loan Interest Rates
Given below are some of the most important factors that impact Mortgage loan interest rates 
 • Credit Score
Your credit score is a measure of how creditworthy you are and is based on your credit history, repayments made, loans availed, etc. Higher the credit score, lower is the interest rate as the lenders perceive you to be less risky when it comes to repayments. A credit score of over 700 is always advised.
 • Loan Amount
The higher the loan amount, the higher is the interest rate. Essentially, if the lender perceives the risk of repayment to be high, the interest rate charged is also on the higher side. Higher loan amounts will put a greater burden on the borrower’s finances making it more difficult to repay.Therefore, the interest rate for a large loan amount is always high.
 • Repayment Tenure
WThe shorter the repayment period, the lower is the interest rate. However, borrowers may opt for a longer loan term as the EMI amount will be lower. This is definitely financially more viable for the borrower but the amount paid as interest will also be higher over time.
 • Type of Property Being Mortgaged
Depending on whether the building in question is commercial or residential or is located in an upcoming area with a lot of amenities, the interest rate can vary. Generally, newer buildings in welltodo locations are considered to be more valuable hence the interest rate in such cases is lower.
 • Borrower Profile
Is the borrower selfemployed or salaried? Has the borrower availed multiple mortgage loans before? Is the income earned by the borrower on the higher side? The answers to these questions will also determine the interest rate. The lesser the perceived risk of default, the lower is the interest rate.
Mortgage Loan Frequently Asked Questions (FAQ)
A mortgage loan or loan against property is a secured loan that is given against properties owned by the borrower for both commercial and residential ones. This property is kept as collateral until the loan has been fully repaid. Most individuals regardless of whether they are salaried or selfemployed are eligible for this type of loan. The interest rate and other terms of the loan will vary depending on the lending institution.
EMIs or Equated Monthly Installments are payments made by the borrower to the lender every month in order to repay debt. Amount paid as EMI is dependent on the amount borrowed, the interest rate charged by the lender as well the repayment period chosen.
Foreclosure of a loan is offered by most lenders to borrowers who are able to clear their loan before the repayment period ends. While the detailed terms and conditions will vary depending on the lending institution, most require a minimum number of EMIs to be paid before providing this option. Additionally, some lenders may also charge a penalty to foreclose the loan. Borrowers are advised to check with their lending institution if they wish to avail of this option.
When a borrower avails of a loan, it is understood that the same will be repaid on time. However, due to unavoidable circumstances, if the borrower is unable to repay the loan, he/she must contact the lending institution at the earliest so that other options such as moratorium, reduced EMI, etc., can be explored.
Money View Mortgage Loan EMI calculator comes with multiple benefits, as given below 
 • Easy to Use: All applicants need to do is input details such as interest rate, principal amount, and repayment term to find out the EMI.
 • Instant Results: Borrowers will no longer have to wait for days to find out the EMI that they have to pay. Thanks to Money View’s EMI calculator, the EMI amount to be paid can be found out instantly.
 • No Errors: Making a mistake in calculating the EMI can cost dear as the formula is quite complicated. With the EMI calculator, customers can find out the EMI they will have to pay for their loan without any mistakes and plan their finances effectively
 • Free of Cost and 24*7 Access: That’s right! The loan calculator is absolutely free and can be accessed as many times as you want throughout the day