India Mortgage Calculator

A mortgage calculator is a handy tool that helps individuals estimate their monthly mortgage payments based on various factors such as loan amount, interest rate, and loan term. Whether you’re planning to buy a new home or refinance your existing mortgage, having a clear understanding of your potential monthly payments is essential for budgeting and financial planning.

Formula: The formula used to calculate the monthly mortgage payment is based on the amortization formula:



  • M is the monthly mortgage payment,
  • P is the principal loan amount,
  • r is the monthly interest rate, and
  • n is the number of payments (loan term in months).

How to Use:

  1. Enter the loan amount in Indian Rupees (₹).
  2. Input the annual interest rate as a percentage.
  3. Specify the loan term in years.
  4. Click the “Calculate” button to get the estimated monthly mortgage payment.

Example: Suppose you want to borrow ₹50,00,000 (₹50 lakhs) at an annual interest rate of 7.5% for a loan term of 20 years.

  1. Loan Amount (₹): 5000000
  2. Interest Rate (%): 7.5
  3. Loan Term (Years): 20

Upon clicking “Calculate,” the calculator will display the estimated monthly mortgage payment.


  1. What is a mortgage calculator?
    • A mortgage calculator is a tool used to estimate monthly mortgage payments based on inputs such as loan amount, interest rate, and loan term.
  2. How accurate are mortgage calculators?
    • Mortgage calculators provide estimates and may not reflect the exact payment amounts due to factors like taxes, insurance, and additional fees.
  3. Can I use the calculator for different currencies?
    • This calculator is specifically designed for Indian Rupees (₹).
  4. What is the loan term?
    • The loan term refers to the duration of the mortgage, typically measured in years.
  5. What is the interest rate?
    • The interest rate is the percentage charged by the lender on the principal loan amount.
  6. Can I change the inputs after calculating?
    • Yes, you can update the inputs and recalculate as needed.
  7. Are there any additional fees included in the calculation?
    • This calculator provides an estimate of the principal and interest components of the monthly payment. Additional fees like taxes and insurance are not included.
  8. Is the calculated amount the final payment?
    • The calculated amount represents the estimated monthly mortgage payment. Actual payments may vary.
  9. How often should I recalculate my mortgage payments?
    • It’s advisable to recalculate when there are changes in loan terms, interest rates, or other relevant factors.
  10. Can I use this calculator for commercial properties?
    • This calculator is primarily intended for residential mortgages.

Conclusion: The India Mortgage Calculator simplifies the process of estimating monthly mortgage payments, enabling individuals to plan their finances effectively when purchasing or refinancing a home. By providing quick and accurate estimates, this tool empowers users to make informed decisions regarding their housing investments.

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