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Axis Bank Home Loan EMI Calculator: Calculate Your Home Loan EMI with Ease
Use Axis Bank’s Home Loan EMI Calculator to estimate your monthly home loan repayments. This easy-to-use tool will help you calculate your EMI based on the loan amount, interest rate, and tenure. It’s designed to assist you in planning your finances more effectively, ensuring you know your repayment obligations upfront.
Calculate Your Axis Bank Home Loan EMI
Simply input the required details below to instantly calculate your home loan EMI:
- Loan Amount
- Interest Rate
- Loan Tenure (in years)
Get a clear breakdown of your EMI and total loan repayment to make informed financial decisions.
Your loan estimate
Monthly payment
Total Principal
Total interest payments
Total loan payments
Payoff date
Processing Fee
Cost Of Loan
APR
%
The calculations provided are for illustrative purposes only. Actual loan terms may vary based on the lender’s policies and your credit profile.
Updated Oct 14, 2024 · 3 min read
Written By: Shanti Singh
Lead Writer 
Edited by Priya K.
Fact Checked
Why Use Axis Bank Home Loan EMI Calculator?
- Instant EMI Calculation: Get an immediate estimate of your monthly repayment.
- Easy-to-Use: Axis Bank's EMI Calculator is user-friendly and free to use.
- Flexible Loan Terms: Explore how varying loan amounts and tenures affect your EMI.
- Transparency: Know your repayment obligations from day one with clear insights into principal and interest components.
Key Features of Axis Bank Home Loan EMI Calculator
| Loan Type | Interest Rate (Starting) | Loan Tenure | Processing Fees |
|---|---|---|---|
| Home Loan | 8.60% p.a. | Up to 30 years | ₹10,000 (varies by loan amount) |
Factors Influencing Your EMI and Total Repayment
- Loan Amount: Higher loan amounts will increase your EMI.
- Interest Rate: A higher interest rate results in a higher EMI and greater total repayment.
- Loan Tenure: Longer tenures will reduce your EMI but increase your overall interest payments.
- Processing Fees: The processing fees depend on the loan amount and terms. A higher loan amount might attract higher fees.
How to Use Axis Bank Home EMI Calculator?
| Loan Tenure | Monthly EMI | Interest Paid | Total Repayment |
|---|---|---|---|
| 5 years | Higher | Lower | Lower |
| 10 years | Moderate | Moderate | Moderate |
| 15 years | Lower | Higher | Higher |
| 20 years | Very Low | Much Higher | Much Higher |
Why Consider APR Over Just Interest Rates?
The Annual Percentage Rate (APR) is a more comprehensive metric than the interest rate alone, as it includes additional charges like processing fees. Comparing APR across different loans allows you to evaluate which loan is more cost-effective in the long run.
Axis Bank Home Loan EMI Breakdown
Your EMI consists of two main components:
- Principal: The original loan amount you borrowed.
- Interest: The fee charged by the bank for lending the money.
Early in the loan tenure, a larger portion of your EMI is allocated to the interest payment. As you continue making payments, the share of principal in your EMI gradually increases.
MinEmi Tips for Borrowing from Axis Bank
- Negotiate Your Interest Rate: If you have a good credit score (750+), you may be able to negotiate a lower interest rate.
- Select an Optimal Loan Tenure: A long tenure means lower EMIs, but the total repayment amount increases. Choose a tenure that aligns with your budget.
- Prepayment and Part-Payment: Axis Bank allows part-payments and prepayments. Use this option if you come into extra money to reduce your principal balance and save on interest.
- Monitor Your Credit Score: A higher credit score might help in securing a lower interest rate. Keep track of your credit score to ensure you get the best rates available.
FAQs for Axis Bank Home Loan EMI Calculator
What is the maximum loan tenure available for a home loan with Axis Bank?
Does the EMI Calculator show the exact processing fees and other charges?
Can I adjust my loan amount or tenure after calculating the EMI?
Does Axis Bank charge a prepayment fee if I pay off my loan early?
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