Home > Calculators > EMI Calculators > ICICI Home Loan EMI Calculator
ICICI Bank Home Loan EMI Calculator: Plan Your Home Loan Repayments with Confidence
Use ICICI Bank’s Home Loan EMI Calculator to instantly determine the monthly EMI on your home loan. With just a few simple details—loan amount, interest rate, and loan tenure—you can accurately estimate your monthly repayments. This tool is designed to help you understand your financial commitment and make informed decisions for a stress-free borrowing experience.
Calculate Your ICICI Bank Home Loan EMI
Simply enter the following details to calculate your EMI:
- Loan Amount
- Interest Rate
- Loan Tenure (in years)
Instantly view the EMI amount and total loan repayment based on your inputs.
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 ICICI Bank Home Loan EMI Calculator?
- Instant Results: Get your EMI calculated in seconds with the provided information.
- Clear Insights:: Understand how loan amount, tenure, and interest rates affect your monthly payments.
- Free and Easy: The calculator is available for free and is simple to use, allowing you to plan your finances better.
- Loan Comparison: Compare multiple loan scenarios by adjusting the parameters and make the most suitable choice.
Key Features of ICICI Bank Home Loan EMI Calculator
| Loan Type | Interest Rate (Starting) | Loan Tenure | Processing Fees |
|---|---|---|---|
| Home Loan | 8.50% p.a. | Up to 30 years | ₹3,000 - ₹25,000 |
Factors Influencing Your EMI and Total Repayment
- Loan Amount: The more you borrow, the higher your EMI. It’s important to balance your loan amount with your income and repayment capacity.
- Interest Rate: The higher the rate, the higher the EMI and total repayment. Always compare offers before choosing a loan.
- Loan Tenure: While longer tenures result in lower EMIs, they lead to higher total repayment due to accumulated interest. Shorter tenures reduce your overall repayment but increase your EMI.
- Processing Fees: ICICI charges processing fees that can vary based on the loan amount and type of loan. Ensure you factor in these costs when calculating your total borrowing expenses.
Impact of Loan Tenure on EMI and Total Repayment
Loan tenure directly affects both your EMI amount and the total repayment amount. Here’s how:
| Loan Tenure | Monthly EMI | Interest Paid | Total Repayment |
|---|---|---|---|
| 5 years | Higher EMI | Lower Interest | Lower Total |
| 10 years | Moderate EMI | Moderate Interest | Moderate Total |
| 15 years | Lower EMI | Higher Interest | Higher Total |
| 20 years | Very Low EMI | Much Higher Interest | Much Higher Total |
Why Consider APR Over Just Interest Rates?
The Annual Percentage Rate (APR) offers a more complete picture of the cost of a loan than just the interest rate. The APR includes both the interest rate and additional charges like processing fees and other costs, giving you a clearer idea of the true cost of borrowing.
MinEmi Tip:
Compare loans based on APR, as it helps you assess the total cost of your loan more accurately than interest rates alone.
ICICI Bank Home Loan EMI Breakdown
Your monthly EMI consists of two parts:
- Principal: The amount you borrow, which is paid back over time.
- Interest: The cost of borrowing the money, calculated as a percentage of the principal.
During the initial years of your home loan, a larger portion of your EMI goes toward paying the interest, while later years see a higher percentage going toward the principal. This structure is known as the amortization process.
MinEmi Tips for Borrowing from ICICI Bank
- Choose the Right Loan Amount: Assess your financial capacity before deciding on the loan amount. Borrowing too much may strain your finances, while borrowing too little may not cover your needs.
- Opt for a Loan Tenure That Fits Your Budget: A shorter tenure means higher EMIs but less interest paid over the term, while a longer tenure offers smaller EMIs but higher total repayment.
- Prepayment Facility: ICICI offers part-prepayment options without additional charges (subject to terms). Make use of this feature to reduce your principal and save on interest costs.
- Check Processing Fees: Ensure you understand the processing fees before finalizing your loan. These can be a significant addition to your loan amount.
FAQs for ICICI Bank Home Loan EMI Calculator
How is my EMI calculated on an ICICI Home Loan?
What is the maximum tenure available for an ICICI Bank Home Loan?
What factors affect my EMI for an ICICI home loan?
Can I reduce my EMI amount by opting for a longer tenure?
Are there any penalties for prepayment of my home loan with ICICI Bank?
MORE LIKE THIS
Master your finances – right in your inbox!
Sign up for MinEMI updates to get money-saving tips, practical advice, and helpful tools. We’ll help you spend wisely, save more, and achieve your financial goals with ease.