You can use CreditMantri’s online home loan EMI calculator in order to calculate your home loan interest amount. All you have to do is to input the loan amount, the interest rate and the tenure of the loan, and the calculator does the rest.
It presents you with the EMI amount to be paid, as well as an Amortization Table which gives you a clear picture of the payment structure and schedule. The table gives an accurate picture of the interest component of each EMI payment. The table includes the following:
• The starting balance or the principal amount that you owe the bank
• The outstanding balance before the payment of each EMI
• The actual amount to be paid as EMI every month
• The principal component of the EMI
• The interest component of the EMI
• The outstanding balance after payment of each EMI