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PMAY Home Loan EMI Calculator

   
Family Income (Yearly)    Rs.
Home Loan Amount    Rs.
Interest Rate % Per Annum
Loan Tenure Years

Calculations per PMAY Subsidy Scheme

Loan Amount
Rs. 29,00,000
Monthly Instalment (EMI)
Rs. 22,684
Total Interest Amount
Rs. 25,44,148
Total Amount (Principal + Interest)
Rs. 55,44,148

Calculations per Current Home Loan Rates

Loan Amount
Rs. 29,00,000
Monthly Instalment (EMI)
Rs. 25,351
Total Interest Amount
Rs. 31,84,173
Total Amount (Principal + Interest)
Rs. 60,84,173

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Having a house is a very basic need of every human being. With the vision of providing urban and rural poor a home of their dreams, Our Prime Minister Mr. Narendra Modi launched two housing schemes under Pradhan Mantri Awas Yojna. He announced the same on December 31, 2016 when he addressed the entire nation. People who take loans of Rs. 9 Lakhs and 12 Lakhs in 2017 will now get a subsidy in their interest rates. The scheme designed for the people belonging to LIG and EWS category will allow them to get a home loan up to Rs. 9 Lakhs at an interest subsidy rate of four percent. The urban poor will receive a rebate of three percent for a home loan up to Rs. 12 Lakhs. Rural poor who want to build or renovate their house will now get a home loan of Rs 2 Lakhs at three percent lower interest rate. The scheme aims to construct 33 percent more homes in the rural areas.

Through this calculator you can find how much EMI you will have to pay and how much savings you will now make if you take a loan of a particular amount.

Year Principal Interest Balance Amount
1 Rs. 57,026 Rs. 247,186 Rs. 2,842,974
2 Rs. 62,127 Rs. 242,085 Rs. 2,780,847
3 Rs. 67,687 Rs. 236,525 Rs. 2,713,160
4 Rs. 73,742 Rs. 230,470 Rs. 2,639,418
5 Rs. 80,341 Rs. 223,871 Rs. 2,559,077
6 Rs. 87,528 Rs. 216,684 Rs. 2,471,549
7 Rs. 95,360 Rs. 208,852 Rs. 2,376,189
8 Rs. 103,892 Rs. 200,320 Rs. 2,272,297
9 Rs. 113,187 Rs. 191,025 Rs. 2,159,110
10 Rs. 123,314 Rs. 180,898 Rs. 2,035,796
11 Rs. 134,347 Rs. 169,865 Rs. 1,901,449
12 Rs. 146,368 Rs. 157,844 Rs. 1,755,081
13 Rs. 159,464 Rs. 144,748 Rs. 1,595,617
14 Rs. 173,731 Rs. 130,481 Rs. 1,421,886
15 Rs. 189,275 Rs. 114,937 Rs. 1,232,611
16 Rs. 206,210 Rs. 98,002 Rs. 1,026,401
17 Rs. 224,661 Rs. 79,551 Rs. 801,740
18 Rs. 244,760 Rs. 59,452 Rs. 556,980
19 Rs. 266,659 Rs. 37,553 Rs. 290,321
20 Rs. 290,500 Rs. 13,695 Rs. 0
Bank Name Interest Rate
Estimated EMI as Per Loan Amount
HDFC LTD 8.65% - 8.75%
Rs. 17,547 - Rs. 17,674
ICICI Bank 8.65% - 8.85%
Rs.17,547 - Rs.17,802
SBI 8.60% - 8.65% (For Women)
8.65% - 8.70% (For Others)
Rs.16,688 - Rs.16,748 (For Women)
Rs.16,748 - Rs.16,809 (For Others)
PNB Housing 8.90% - 9.10%
Rs. 17,866 - Rs. 18,123
Axis Bank 8.65%
Rs.17,547
LIC Housing 8.50% - 8.70%
Rs. 17,356 - Rs. 17,610
Fed Bank 9.57% - 9.82%
Rs. 18,734 - Rs. 19,063
PNB Home Loan 8.65% - 8.75%
Rs. 17,547 - Rs.17,674
IDBI Home Loan

9.15% - 9.20%

Rs. 18,188 - Rs. 18,253
DHFL Home Loan 8.60% - 8.70%
Rs. Rs. 17,483 - Rs.17,610
Indiabulls Home Loan 8.65% - 8.85%
Rs.17,547 - Rs.17,802
Union Bank 8.75% - 8.80%
Rs. 17,674 - Rs.17,738
Vijaya Bank 8.90%
Rs. 17,866
Standard Chartered Bank 9.35%
Rs. 18,447
Indian Bank 8.60%
Rs. 17,483
Shubham Housing Development Finance Company 12%-14%(For Salaried) - 15%-17%(For Self-employed)
Rs. 22,022-Rs.24,870(For Salaried) - Rs.26,336-Rs.29,336(For Self-employed)
Allahabad Bank 8.85%
Rs. 17,802
Bank of India 8.65% - 8.70%
Rs. 17,547 - Rs. 17,610
Corporation Bank 9.60%
Rs. 18,773
L & T Housing Finance 9.90%
Rs. 19,168
Citibank 9.30%
Rs. 18,382

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