ICICI Home Loan EMI Calculator

The ICICI Home Loan Calculator is a simple and reliable tool to help you estimate your monthly EMIs with ease. Just enter your loan amount, interest rate, and tenure to get accurate results instantly. Our ICICI Home Loan EMI Calculator features a user-friendly interface, allowing you to plan your budget and make confident financial decisions without any hassle.

ICICI Bank offers attractive home loan options for both salaried and self-employed individuals, with EMIs starting from ₹645 per lakh. Whether you’re buying or constructing your dream home, use the ICICI Bank EMI Calculator to know your amount and manage your finances smartly.

What Is the ICICI Home Loan EMI Calculator?

The Housing Loan Calculator ICICI is an easy-to-use online tool that simplifies calculating your home loan EMIs. It provides instant EMI estimates for different loan amounts, interest rates, and tenures. With this calculator, you can also determine the ideal EMI and repayment tenure based on your financial capacity and other obligations, helping you plan your home loan more effectively and confidently.

How to Use ICICI Home Loan EMI Calculator?

Follow these simple steps to calculate your EMI using the Home Loan Calculator for ICICI:

• Enter Your Details: Fill in your loan amount, interest rate, and tenure in the designated fields.
• Adjust Sliders: Use the sliders to modify your loan details if needed for better planning.
• View Instant Results: The calculator will instantly show your estimated EMI, total repayment amount, and total interest payable over the loan period.
• Explore Customization: Adjust the loan values to match your financial goals and find the repayment plan that works best for you.

Note: The final loan amount, tenure, interest rate, and eligibility are subject to approval as per the bank’s policies and criteria.

ICICI Home Loan EMI Calculator: Benefits & Features

• Easy to Use: The ICICI Bank Home Loan Calculator is a quick and convenient tool that lets you calculate your EMI based on your loan amount, interest rate, and tenure.

• Accurate Results: Get precise EMI estimates to plan your finances better and make informed borrowing decisions.

• Adjustable: With the ICICI EMI Calculator, you can easily change the loan amount, interest rate, or tenure to see how each factor impacts your monthly payments.

• Helps with Budgeting: Knowing your exact EMI helps you manage your monthly budget more efficiently and plan expenses smartly.

• Time-Saving: Instantly calculate your EMIs online without visiting a bank branch — simple, fast, and reliable.

• Pre-Plan Your Loan: Use the calculator to choose the right loan amount and repayment tenure that fit your financial goals perfectly.

How Does the ICICI Home Loan EMI Calculator Work?

To use the Housing Loan Calculator ICICI Bank, all you need to do is insert values like the loan amount, tenure and interest rate. The monthly EMI is instantly calculated when you click “calculate”.

Input Requirements

To use the Home Loan Calculator in ICICI Bank effectively, you will need to provide three essential pieces of information:

• Loan Amount: Enter the total amount you intend to borrow for your home loan.

• Tenure: Choose the repayment duration that suits your financial goals and capabilities.

• Interest Rate: Specify the applicable interest rate on your home loan.

Formula

To calculate the Equated Monthly Instalment (EMI) for your ICICI Bank home loan, you can use the formula provided:

• EMI = [P x R x (1+R)^N] / [(1+R)^N-1]
• Where:
• P = Loan amount

Example

Let us say you have taken out a home loan of ₹1 crore for the maximum allowed tenure of 30 years at an interest rate of 9%.

Calculate the monthly interest rate ®:

• Monthly Interest Rate = Annual Interest Rate / 12
• R = 9% / 12 = 0.0075
• Calculate the loan tenure in months (N):
• Loan Tenure in Months = Loan Tenure in Years x 12
• N = 30 years x 12 = 360 months

Plug the values into the ICICI Home Loan EMI Calculator formula:

EMI = [1,00,00,000 x 0.0075 x (1+0.0075)^360] / [(1+0.0075)^360-1]

Calculate the EMI using an ICICI home loan eligibility calculator:

• EMI = [1,00,00,000 x 0.0075 x 14.7305] / 13.7305
• EMI = 1104787.5 / 13.7305
• EMI = 80,462.30 (approx.)

What Is Amortization?

Amortization is the process of gradually paying off your loan balance through regular monthly payments. Each EMI contributes to both the interest and the principal. Initially, a larger portion of your EMI goes towards paying off the interest, but over time, the share of the principal increases.

Understanding the concept of amortization is important because it explains how your loan evolves. As your loan term progresses, more of your payment goes towards the principal, and less goes towards interest, which means you start building equity in your home faster.

Amortization Schedule

An Amortization Schedule is a detailed table that shows how each EMI is divided between principal repayment and interest. It provides a comprehensive breakdown of how your loan will be repaid over time. 

This schedule helps you track how much of your outstanding loan is paid off each month and how much remains. Here is the amortization schedule for the first year of a home loan of ₹10 Lakh over a period of 30 years at the interest of 9.25% p.a.:

Factors Affecting ICICI Home Loan EMI Calculator

The ICICI EMI Calculator, Housing Loan Calculator ICICI, and Home Loan Calculator for ICICI help you understand how your monthly EMI is determined. Several factors influence the EMI amount:

• Loan Tenure: The loan tenure is the duration for which you take the home loan, ranging from 1 year up to 30 years. Your EMI is directly related to the tenure — a longer tenure reduces the EMI but increases the total interest paid, while a shorter tenure raises the EMI but helps you save on interest and complete repayment faster.

• Interest Rate: The interest rate is a key factor affecting your EMI. Higher interest rates increase your monthly EMI, while lower rates reduce it. Using the ICICI EMI Calculator or any of the ICICI home loan calculators can help you plan your EMI according to the current rates.

• Loan-to-Value (LTV) Ratio: LTV is the ratio of the loan amount to the property’s value. A higher LTV ratio poses more risk to the bank, often resulting in a higher interest rate. Calculating your EMI with the Home Loan Calculator for ICICI helps you assess the impact of LTV on your monthly payments.

Using these calculators makes it easier to plan your budget, adjust loan parameters, and choose the best repayment plan that fits your financial goals.

How NoBroker Helps You

Finding the right home loan can be tricky—but with NoBroker, the process becomes simple and stress-free. NoBroker lets you compare ICICI home loan offers with other top banks all in one place, helping you find the best interest rates, EMIs, and loan terms without paying any brokerage.

You can also use NoBroker’s home loan experts to get personalized assistance with eligibility checks, document preparation, and loan applications. Whether you’re planning to buy, build, or renovate your dream home, NoBroker ensures a transparent, quick, and hassle-free loan experience—all from the comfort of your home.

To Conclude

Are you considering a home loan? The ICICI Home Loan EMI Calculator is an essential tool that provides a clear and accurate understanding of your monthly repayments, helping you budget effectively and make informed financial decisions. 

ICICI home loan eligibility calculator simplifies the process of purchasing a new home, renovating a current one, or comparing loan offers. 

Ready to explore your home loan options? Try the ICICI home loan interest rate calculator today and take the first step toward securing your dream home!