- Home
- Bank Calculator
- Idfc First Bank
- Home Loan Calculator
IDFC First Bank Home Loan EMI Calculator
IDFC home loan calculator helps you to get an accurate estimate of your home loan amount with a few clicks. The IDFC Home loan EMI Calculator uses some basic information to determine the loan repayment amount. IDFC Housing Loan Calculator asks you to put details of the principal amount, loan tenure and interest rate and then calculates the monthly EMI amount. With the IDFC home loan calculator, you can even compare different IDFC home loan plans to pick the best one for you.
- 5 Lac
- 20 Cr
- 5
- 30
- 6
- 20
Monthly Loan EMI
Payment Breakdown:
Principal Amount
₹10,00,000
Interest Payable
Total Amount Payable
Table of Content
Infrastructure Development Finance Company (IDFC) owns IDFC First Bank. It is a dynamic private sector bank committed to providing its customers with the best possible banking experience since its inception in 2015. IDFC First Bank was established after the merger of IDFC Bank and Capital First. With a vision to build a world-class bank in India, the bank firmly believes in growth and energy. IDFC home loan is one of the most opted banking products offered by the bank. Securing a home loan with utmost ease brings certain computations along with it. The bank provides an IDFC home loan EMI calculator to make the calculations easy for the newbies.
IDFC First Bank Home Loan EMI Calculator
IDFC First Bank offers an AI-based home loan EMI calculator to help you plan your finances. With the home loan EMI calculator, you can calculate your monthly EMIs based on the loan amount, interest rate and loan tenure.
All you need to do is enter the loan amount, interest rate and tenure, and the calculator will do the rest. The calculator considers the prevailing interest rate, processing fee and other charges to calculate the most accurate EMI amount. You can also use the EMI calculator to compare different home loan offers and choose the best one.
The calculator uses the following formula to compute the EMI value of your home loan:
EMI = P × r × (1 + r)n/((1 + r)n – 1)
Here:
- P denotes Principal
- r refers to the rate of interest
- n is the tenure of the loan
Features and Benefits of IDFC First Bank Home Loan EMI Calculator
IDFC First Bank Home Loan EMI Calculator is an online tool that helps you calculate your monthly home loan EMIs quickly and simply. The designers have prepared the calculator to estimate your EMIs based on the loan amount, interest rate and loan tenure. The key features and benefits of the IDFC First Bank home loan calculator are:
- The IDFC First Bank home loan EMI calculator can help you calculate your monthly EMI in just a few seconds.
- IDFC First Bank home loan EMI calculator can help you budget your monthly expenses. Knowing how much you’ll need to pay each month can better plan your finances.
- IDFC First Bank home loan EMI calculator helps you compare different home loan options. For example, you can compare the EMIs of two different home loans with varying interest rates and tenures.
- IDFC First Bank home loan EMI calculator is completely free. There are no hidden charges or fees, and you can use the calculator often.
How Does EMI Calculation Help in Planning the Home Purchase?
EMI, or equated monthly instalments, is the fixed amount of money you pay to repay your loan every month until the end of the loan tenure. EMI calculation helps you plan the home purchase by estimating the monthly outgo towards the loan repayment.
Generally, when you apply for a home loan, the bank or the lending institution provides you with a loan EMI calculator. This EMI calculator considers the loan amount, the tenure of the loan and the interest rate, to give you an estimate of the EMI.
EMI calculation helps you efficiently plan your home loan repayment. It gives you an estimate of the total amount you will need to pay towards your loan and enables you to choose a suitable loan tenure.
When you apply for a home loan, the bank or finance company will give you a loan estimate, including the EMI amount. It is essential to check this amount carefully and make sure you can afford the monthly payments.
Knowing your EMIs allows you to budget your expenses better and plan your home purchase accordingly. For instance, if you have a budget of INR 50,000 per month for your home loan EMIs, you will know how much loan amount you can afford to take.
Factors Affecting IDFC First Bank Home Loan EMI Calculator
Various factors can affect your home loan EMIs, and it’s essential to be aware of them before you take out a loan. Here are some of the main factors that can affect your EMIs:
- The interest rate: The interest rate is one of the most critical factors affecting your EMI. A higher interest rate will result in a higher EMI, while a lower interest rate will result in a lower EMI.
- The loan tenure: The loan tenure is another crucial factor that can affect your EMI. A longer-term will result in a lower EMI, while a shorter tenure will result in a higher EMI.
- The loan amount: The loan amount is also an important factor that can affect your EMI. A higher loan amount will result in a higher EMI, while a lower loan amount will result in a lower EMI.
- The repayment mode: The repayment mode can also affect your EMI. If you choose to repay your loan in equated monthly instalments (EMI), your EMI will be lower as compared to if you choose to repay your loan in bullet repayment.
IDFC First Bank Home Loan Amortisation Schedule
An amortisation schedule determines how your loan payments will be applied to the principal and interest, and it can significantly impact the total cost of your loan. The amortisation schedule for an IDFC First Bank home loan is as follows:
- Your first payment will be applied to the interest due on loan.
- The remaining charges will be applied to the loan’s principal, with each payment decreasing the outstanding balance.
- The final fee will be applicable entirely to the principal, leaving you with a zero balance.
For example, let’s assume that an individual borrows a home loan of INR 25 lakhs at 7.95% p.a. for an extended tenure of 10 years.
Year | Opening Balance | Interest Paid | Principal Paid | Closing Balance |
1 | INR 25,00,000 | INR 1,69,330 | INR 1,78,996 | INR 23,21,004 |
2 | INR 23,21,004 | INR 1,56,390 | INR 1,91,935 | INR 21,29,069 |
3 | INR 21,29,069 | INR 1,42,515 | INR 2,05,811 | INR 19,23,258 |
4 | INR 19,23,258 | INR 1,27,637 | INR 2,20,689 | INR 17,02,570 |
5 | INR 17,02,570 | INR 1,11,683 | INR 2,36,642 | INR 14,65,927 |
6 | INR 14,65,927 | INR 94,576 | INR 2,53,749 | INR 12,12,178 |
7 | INR 12,12,178 | INR 76,233 | INR 2,72,093 | INR 9,40,086 |
8 | INR 9,40,086 | INR 56,563 | INR 2,91,762 | INR 6,48,324 |
9 | INR 6,48,324 | INR 35,472 | INR 3,12,854 | INR 3,35,470 |
10 | INR 3,35,470 | INR 12,856 | INR 3,35,470 | 0 |
IDFC First Bank Home Loan Equated Monthly Installments
Loan Amount | Tenure | Rate of Interest | EMI |
INR 10,00,000 | 30 years | 7.95% | INR 7,303 |
INR 20,00,000 | 30 years | 7.95% | INR 14,606 |
INR 25,00,000 | 30 years | 7.95% | INR 18,257 |
INR 30,00,000 | 30 years | 7.95% | INR 21,908 |
INR 50,00,000 | 30 years | 7.95% | INR 36,514 |
Home Loan EMI Calculators By Nationalized Banks
Home Loan EMI Calculators By Private Banks
Need Loan Assistance?
Connect with Personal Loan Advisor Now!
Know More About
Idfc First Bank's Ifsc Codes
- Idfc First Bank Andhra Pradesh
- Idfc First Bank Chandigarh
- Idfc First Bank Chhattisgarh
- Idfc First Bank Delhi
- Idfc First Bank Gujarat
- Idfc First Bank Haryana
- Idfc First Bank Jharkhand
- Idfc First Bank Karnataka
- Idfc First Bank Madhya Pradesh
- Idfc First Bank Maharashtra
- Idfc First Bank Orissa
- Idfc First Bank Pondicherry
- Idfc First Bank Punjab
- Idfc First Bank Rajasthan
- Idfc First Bank Tamil Nadu
- Idfc First Bank Telangana
- Idfc First Bank Tripura
- Idfc First Bank Uttaranchal
- Idfc First Bank Uttar Pradesh
- Idfc First Bank West Bengal
Frequently Asked Questions (FAQs)
How can I pay my IDFC home loan EMI online?
You can pay your IDFC First Bank home loan EMIs using Quick Pay EMI.
What happens if IDFC home loan EMI is missed?
If you miss your EMI payment, IDFC First Bank charges a penalty of 1% to 2% on the outstanding amount.
Can I change my home loan EMI date?
Yes, you can change your home loan EMI dates. You have to talk to the respective bank manager about the changes.
How does your home loan repayment work?
Your loan repayments comprise monthly payments, and the amount you pay each month is determined by your loan terms and the interest rate. Your interest rate will remain fixed for the life of your loan unless you have a floating interest rate.
Most Popular on Urban Money
Similar Calculators
- Axis Bank Home Loan Calculator
- HDFC Bank Home Loan Calculator
- Bank of Baroda Home Loan Calculator
- Canara Bank Home Loan Calculator
- Union Bank of India Home Loan Calculator
- State Bank of India Home Loan Calculator
- IndusInd Bank Home Loan Calculator
- Punjab National Bank Home Loan Calculator
- YES Bank Home Loan Calculator
- Federal Bank Home Loan Calculator
- IDBI Bank Home Loan Calculator
- CITI Bank Home Loan Calculator
- Bank of Maharashtra Home Loan Calculator
- karnataka bank Home Loan Calculator
- Deutsche Bank Home Loan Calculator
- RBL Bank Home Loan Calculator
- Punjab & Sind Bank Home Loan Calculator
- Kotak Bank Home Loan Calculator
- Indian bank Home Loan Calculator
- Bank of India Home Loan Calculator
- HSBC Home Loan Calculator
Idfc First Bank's Products
Idfc First Bank's Calculators
Fixed Deposit Rate
Check Eligibility
Financial Calculators
- Income Tax Calculator
- SIP Calculator
- FD Calculator
- HRA Calculator
- Lumpsum Calculator
- PPF Calculator
- RD Calculator
- GST Calculator
- Sukanya Samridhi Yojana Calculator
- TDS Calculator
- Salary Calculator
- Car Loan EMI Calculator
- Amortization Calculator
- Flat vs Reducing Rate Interest Calculator
- Foreclosure Calculator
- Savings Account Interest Calculator
- CAGR Calculator
- XIRR Calculator
- APR Calculator
Get your latest Credit Score, FREE
Home Loan Guide
Get in-depth knowledge about all things related to Home Loan and your finances
Debt To Income (DTI) Ratio : Calculation Formula, Types and Limitations
Better debt management is crucial to avail of the available financial opportunities. Whether you wish to secure a personal loan, business loan, home loan, or even credit card, lenders have various met
Transferring Your Home Loan to a New Bank : A Step-by-Step Guide
Transferring a home loan from one bank to another, commonly known as a home loan balance transfer, is a healthy financial move that can lead to significant savings and better loan terms. This process
Understanding The Hidden Charges in Home Loans
Purchasing a home is a dream for many, but understanding the applicable fees and charges is wise before applying for a home loan. Before picking out the comfy furniture and planning the home’s i