Plan Your Home Purchase with Confidence

A home loan is one of the most important financial decisions you will make. The Risara Home Loan EMI Calculator helps you estimate your monthly repayment and understand how different loan amounts, interest rates and tenures impact your finances.

By adjusting the values above, you can quickly arrive at an EMI that suits your lifestyle and long-term plans, enabling you to make a more informed and confident property decision.

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What is a Home Loan EMI Calculator?

A Home Loan EMI Calculator is a simple financial tool that helps you calculate the Equated Monthly Installment (EMI) you would need to pay for your home loan. It gives you a clear estimate of your monthly outflow based on:

• Loan amount

• Interest rate

• Loan tenure

This allows you to evaluate affordability before committing to a property purchase.

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What is Home Loan EMI?

EMI stands for Equated Monthly Installment. It is the fixed amount you pay every month towards repaying your home loan. Each EMI consists of:

• Principal component – repayment of the loan amount

• Interest component – interest charged by the lender

In the initial years, a larger portion of the EMI goes towards interest. Over time, the principal component increases.

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How is EMI Calculated?

The EMI is calculated using the standard formula:

EMI = P × R × (1+R)ⁿ / [(1+R)ⁿ − 1]

Where:

• P = Principal loan amount

• R = Monthly interest rate (Annual rate ÷ 12 ÷ 100)

• N = Loan tenure in months

Example:

If you take a loan of ₹10,00,000 at 7.2% per annum for 10 years (120 months):

• R = 7.2 ÷ 12 ÷ 100 = 0.006

• EMI ≈ ₹11,714

• Total amount paid ≈ ₹14,05,703

• Total interest ≈ ₹4,05,703

Manual calculations can be complex — the EMI calculator instantly gives you accurate results.

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How EMI Calculation Helps in Property Planning

Understanding your EMI helps you:

• Assess your monthly affordability

• Plan your cash flows better

• Estimate the ideal loan amount

• Determine your personal contribution

• Shortlist properties within your realistic budget

It plays a crucial role in evaluating loan eligibility and planning your home purchase responsibly.

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How to Use the Risara EMI Calculator

Simply adjust the following inputs:

• Loan Amount – Amount you plan to borrow

• Loan Tenure – Duration of the loan in years

• Interest Rate – Annual interest rate

The calculator will instantly display your estimated EMI.

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What is a Home Loan Amortisation Schedule?

An amortisation schedule is a detailed table that shows how your loan is repaid over time, including:

• EMI amount

• Interest paid each month

• Principal repaid each month

• Outstanding loan balance

It helps you understand how much interest you will pay over the entire loan tenure.