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Download the free Excel Home Loan EMI Calculator where add loan prepayment at regular (monthly or yearly) or irregular frequencies (lump sum). Also, you can check the outstanding loan balance after a certain period of tenure.
Note:- Do you want to prepay your home loan early? Then I have provided certain methods and which is best for you to prepay early in my latest post. You can refer the same at “Prepay Home Loan Calculator – Download Free Excel Sheet“.
A home loan is one of the longest forms of your commitment. Hence, obviously, borrowers look for the pros and cons of committing to such long-term loans.
Nowadays banks are eager to offer you almost around 90% of the cost of the property as the loan amount. However, if you are rejoicing with such offers, then think twice.
What is EMI?
EMI stands for Equated Monthly Installments. It is a monthly installment that a borrower has to pay to the lender. Your EMI depends upon the principal amount of the loan, tenure and the interest rate offered to you.
EMI basically has two parts. One is the principal part and another is the interest part. It will remain the same throughout the loan tenure (unless there is a change in the interest rate or you wish to reduce/extend the loan tenure). The priority of any EMI is to first clear the outstanding interest for the loan principal. The remaining part is utilized towards the prepayment of the principal.
During the initial stage of the loan, the interest part will be higher in your EMI. However, as the loan turns older, the principal part increases, and the interest part decreases. Let us take an example of a Rs.1 Cr home loan with an interest rate of 8% and when the principal part will start to overtake the interest part.
# For 20 years of the loan, it will take around 11.4 Yrs. It can be viewed as below.
# For 15 years of the loan, it will take around 6.4 years. It can be viewed as below.
From the above charts, you can conclude that the lower the tenure of the loan higher the benefits for you. However, there is always a stress to commit higher EMI.
Home Loan EMI Calculator 2025 – Free Excel Sheet
I have created a free download excel sheet for a home loan EMI calculator with certain unique features. I tried my best to include the major features of the home loan EMI calculator.
Features of this Home Loan EMI Calculator are as below.
# Loan Information flexibility
You can enter the EMI start date, compounding frequency and in fact payment frequency too.
# Prepayment of home loan features
Here, you have options like when you wish to start prepayment, the amount you wish to prepay, how frequently you wish to prepay, and along with this, do you wish to add any annual prepayment also. Finally, because of this prepayment, how much interest outgo, you saved during the loan tenure?
# Principal and Interest paid after a specified period
Here, you can check after specified years what the total interest paid, balance paid, and the outstanding principal balance is.
# Comparison of Prepayment and without prepayment
In the above two tables, you can easily compare the effect of prepayment of a home loan Vs a regular home loan.
# Feature to add irregular prepayment
Along with the fixed repayment options like monthly (or as per your choice) and yearly, you have the option to enter irregular repayments.
Here is a link to download the free excel sheet.
Download Home Loan EMI Calculator 2025 – Free Excel Sheet
In this excel, you have two types of amortization tables. One is if you opt for prepayment along with regular home loan EMI and another one is regular home loan amortization.
# Some unexpected risks of committing to long-term home loans
When you go for a home loan, then we always think that the EMI is comfortable for your income range and it will remain the same forever for you. However, during your loan tenure, you may face certain expected risks. Let us discuss these.
# Income Security
Many of us are in the wrong notion that our income is fixed. However, due to the economic crisis, you may face job loss or a dip in your income (if you are self-employed). Hence, already have the plan to face such situations. The best example to prepare is having enough emergency corpus (ideally around 6-24 months of your monthly expenses including the EMI part also).
This is with respect to the economy or slowdown in your profession. However, what if you face any health issues and are unable to do your duty? In that case, for few years or for forever you may not be in a position to earn. Even though this may look a little bit exaggerated but preparing for such events is also better.
# Interest Rate Risk
As you are committing towards floating rate loans, in the future if you face a situation like high inflation and high rates, then you must have a sufficient buffer to face such a sudden increase in your home loan interest rates. Hence, keeping around 10% additional amount along with your regular EMI is a better idea than tightening your monthly budget.
# Loss of Life
The sudden death of the home loan borrower is like a huge burden on the whole family. Hence, always buy proper term life insurance to cover such liabilities.
# Property legality issues
Many of us have a wrong notion that if the banks are giving us a loan, then the property by default is verified. It is not the case. You may see many instances where banks provided loans for illegal properties also. Hence, it is always better to have your own checklist about the legality of the property.
Otherwise, you have to face certain issues.
Finally, no matter what the interest rate cycle is, I always believe that LIABILITY is always a LIABILITY. There are no good or bad liabilities. It may be my personal option. However, I love to live a debt-free life rather than work for someone else. You may differ from my views.
In the future, let us dig deeper into like what is the best way to clear your home loan. This is an effort to simplify your confusion about the home loan. I did my best in making sure that the calculator is error-free. However, if you found any, then please point to me.
Hello,
This sheet is only for a one-time disbursement, but in a home loan, there are multiple disbursements.
Could you please update the sheet accordingly?
Thanks,
Bhushan
Dear Bhushan,
You can adjust the oustanding accordingly by additing the remaining principal for the particular month. It is not a big deal.
Thank You 🙂
This Excel home loan is for Fixed rate..We want for floating rate.
Dear Abhay,
You can change the interest rate based on the change in scenerio for that particular month.
Hi Aradhya,
First of all , great job! You’ve done a wonderful work here .
Would it be possible to reduce EMI option than to reduce tenure . That’d be great since many want to reduce their EMI instead of opting to pay a large amount every month.
Dear Jabaz,
It is always better to reduce the tenure.
yes i have lessen my emi to 50% by prepayment of 50% loan
Requesting, if can make some video on how to use the excel for varying interest rates and share link
Dear Mahantesh,
Surely will do.
Hello Basu,
Thank you so much for such a fantastic and very simple to use tool for calculating home loan emi and projections when we do part payments.
Just curious, if you can provide a column (like ‘Additional Payment (Irregular Payment)’) where in we can mention varying interest rates for past years. For e.g., in my case, in last 1.5 yrs SBI home loan rates shot-up from 6.8% to 9.3%. So far past duration we can put up varied interest rate and assume that latest interest would going to last till end of loan.
Dear Mahantesh,
I will try. But manually you can change the rate and arrive at such calcualtion. It is not such difficult.
Given sheet is too much useful. My heartfelt apreciation & loads of thank you very much to you. I was in search of this kind of sheet since long. thanks regards, Yadnyesh
Dear Yadnyesh,
My pleasure.
Hello..
Thanks a lot.. Really appreciate your efforts. This help me a lot.
Just wanted to discuss and clarify whether this is an issue or it is perfect.
I will mail you the detail with screen shot.
Thanks a lot..
Dear Yatish,
Sure.
Dear Sir,
Nice tool for calculation but If possible add yearly increase EMI percentage calculation please share that format
thanks you
Dear Muralitharan,
You can do that using above excel.
Hi,
can you add loan amount as per the disbursment. it is very useful for to calculate emi based on that
Dear Vikram,
Can you elaborate your actual requirement?
Hi,
The house loan was disbursed in multiple installments for under construction property.
based on disbursed amount, EMI is fixed and interest will be charged for disbursed amount only.
Dear Vikram,
You can manually change the principal amount and can do the calculation.
Thanks for nice tool for calculation!
Dear Pawan,
My pleasure 🙂
Thank you so much Basavaraj for easy calculation excel file, it helps a lot to identify how much additional amount shall be paid on monthly or yearly basis to reduce the overall outgo in the interest. Many a times when we have surplus we don’t know how efficiently it can be utilized and this helps in one way.
Dear Aradya,
My pleasure 🙂