ICICI Home Loan EMI Calculator

How much will I have to pay every month?
Loan Amount
Tenure
Rate of Interest
Your EMI Per Month will be
33,038
*These calculators are only for illustrative purposes. These figures may or may not be applicable to your particular situation. Magicbricks will not be responsible for any loss or liability arising from the use of these calculators.

ICICI Home Loan EMI Calculator

With a low-interest rate facility, ICICI Bank is no doubt one of the most trusted Indian institutions for home loans. ICICI home loan is often the most preferred option for many borrowers while constructing or purchasing a housing property.

Getting a home loan is a major financial commitment. It’s important that one should assess their financial capacity before borrowing. A Home loan EMI calculator allows you to analyze the details of your desired loan amount. It will help you to arrive quickly at the ideal home loan amount and tenure without much hassle.

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Benefits of ICICI Home Loan Calculator

ICICI has played a key role in providing competitive and affordable interest rates starting from 6.80%. Using a EMI calculator for ICICI home loan will offer the following benefits –

  • It delivers an accurate EMI figure to help you figure out your finances in the future
  • It assists in deciding the tenure and loan amount to get the maximum repayment convenience
  • It promotes improved mobility as you can access the EMI calculator across any device

How To Calculate Home Loan EMI

Manually calculating the home loan EMI is extremely time-consuming and daunting. Magicbricks home loan EMI calculator is a free tool that doesn't require you to register on the website. You can use the tool multiple times as there are no usage frequency limitations.

How To Use The Home Loan EMI Calculator of Magicbricks

Not sure about how to use the Magicbricks home loan EMI calculator? Well, it is incredibly simple and requires only a few steps –

  • Visit ICICI home loan page
  • Enter your desired principal loan amount
  • Fill in the loan tenure you are aiming for
  • Enter the current rate of interest
  • Click on the 'Calculate Your EMI' option

Home Loan EMI Calculation Formula

Interested in manually calculating your home loan EMI? Use the following formula to arrive at an error-free result –

E = P.r. (1+r)^n/[(1+r)^n-1]

where P = Principal/Loan Amount availed by the borrower
E= applicable amount of EMI
r = rate of interest per month (annual rate of interest divided by 12)
n = repayment tenure (in months)

For example, if any borrower avails a loan of 35 lakh for a tenure of 10 years at a 7% rate of interest, the applicable EMI will be –
E = 35,00,000 × .0058% × (1+.0058)^120/[(1+.0058)^120-1]
EMI = Rs. 40,638

All home loan EMI calculators use the above formula to generate your EMI details within seconds.

ICICI Home Loan Amortization Schedule

Amortization refers to the process that spreads out a loan into a series of payments made at fixed intervals. Thus the loan is finally paid off at the completion of the payment schedule. The Amortization schedule lists out the amount for monthly loan payment along with the amount going to interest and the principal from each payment.

If you have taken a home loan of Rs 30 lakh over a 10-year tenure at 6.80% annual interest from ICICI, your monthly EMI will equate to Rs. 34,524 and the total interest amount will be Rs. 11,42,893. Your amortization schedule will look like the following –

Year Beginning Loan Balance EMI*12 Interest Paid Yearly Principal Paid Yearly Outstanding Balance
1 30,00,000 4,14,289 1,97,321 2,16,969 27,83,031
2 27,83,031 4,14,289 1,82,098 2,32,191 25,50,840
3 25,50,840 4,14,289 1,65,808 2,48,482 23,02,359
4 23,02,359 4,14,289 1,48,374 2,65,915 20,36,444
5 20,36,444 4,14,289 1,29,718 2,84,572 17,51,872
6 17,51,872 4,14,289 1,09,752 3,04,537 14,47,335
7 14,47,335 4,14,289 88,386 3,25,903 11,21,432
8 11,21,432 4,14,289 65,520 3,48,769 7,72,663
9 7,72,663 4,14,289 41,051 3,73,238 3,99,425
10 3,99,425 4,14,289 14,865 3,99,425 0

Home Loan FAQs

  • Q. What is ICICI Home Loan EMI Calculator?

    ICICI Home Loan calculator is an online tool that allows convenient calculation of your EMIs. It requires basic details of your home loan including the loan amount, tenure, and interest rate.

  • Q. What is a Home Loan Amortization Schedule?

    A Home Loan Amortization schedule shows the following specifications relating to your home loan-

    Equated monthly EMI
    The principal component of your home loan
    The interest component of your monthly EMIs
    Outstanding balance before the payment of each EMI
    Outstanding balance post to the payment of each EMI
  • Q. Why should I use ICICI Home Loan EMI Calculator?

    Using an ICICI home loan calculator before applying will help you to arrive at an EMI amount that falls within your budget. Knowing the EMI will enable you to plan your monthly spends accordingly. You can also prepay a part of your loan when you have a surplus amount in the future.

  • Q. What will be the maximum tenure possible while applying for an ICICI home loan?/h3>

    The maximum repayment tenure for home loans of ICICI stretches to 30 years.

  • Q. Will the ICICI home loan EMI change in the future or remain constant?

    If is�s a fixed-rate loan, your EMI will not change. However, if iw��H��][��\�]H�[�HSRH�[�[��H[�[�H�]H�[��H[��]Hو[�\�\� �Y�H�]H��\�\ HSRH��\�\ � ���� ��[��� �]��� �O�� �[�� �]�

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Disclaimer: The information available on this site has been gathered from publicly available sources and is accurate to the best of our knowledge. However, please be aware that the rates and other offers may vary based on your profile and may be subject to change without notice. Therefore, we advise you to verify the information before applying for any loan through this website. Magicbricks accepts no liability for any loss arising from the use of the information on this website. Refer T&C for the detail.
(T&C link: https://property.magicbricks.com/terms/terms.html)

**This service is available in select cities only.

*These calculators are only for illustrative purposes. These figures may or may not be applicable to your particular situation. Magicbricks will not be responsible for any loss or liability arising from the use of these calculators.