Calculate IDFC First Bank Home Loan EMI

Total Payments-


Total Interest-
Principal Amount-
Total EMI


View Details
  • Loan Amount
  • Interest Rate
  • Your EMI
  • Tenure
  • ₹50,00,000
  • 8.85%
  • ₹0
  • 30

IDFC First Bank Details

Set up in 2008, IDFC Bank Ltd specialised in wholesale financing to MSMEs, asset management, and JVs in Foreign Exchange. Subsequently, the bank changed its business model to retail funding and changed the name of the company to IDFC Bank. With effect from December 18, 2018, IDFC Bank merged with Capital First to create a new entity, IDFC First Bank.

The Bank focuses on financing India's 50 million MSME units and its emerging middle-class segment's requirements. The bank specialises in providing IDFC First Home Loans at competitive rates of interest. IDFC Bank is a frontrunner in the technology front. This fact is evident from the various types of Home Loan calculators available on the website for the benefit of its customers. The Home Loan EMI Calculator is one among a wide array of calculating tools.

You can also Apply for Yes Bank Home Loan and check EMI, Interest rates and Eligibility Online.

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IDFC First Bank Home Loan - Products on Offer

IDFC First Bank offers various Home Loan products to cater to every requirement of its clients. Right from providing finance to purchase new houses/flats to financing for construction purposes, IDFC First Bank has exclusive products to offer. Facilities to transfer your existing Home Loan balances and availing top up benefits are also available.

Product NameRate of InterestTenureProcessing FeesIdeal for
Regular Home LoanRepo rate + 3%Up to 30 yearsUp to 3% of the loan amountSalaried and self-employed individuals
Home Loan under PMAYRepo rate + 3%Up to 30 yearsAs per rulesAs per eligibility criteria for PMAY

Check Best Home Loan Interest Rates starting @8.50% from different banks and NBFCs.

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IDFC First Bank - Home Loan EMI Concept

A Home Loan is an extended liability that can run on for 20 years and more. The amounts involved in a Home Loan are substantial, as well. It is usually a one-time affair for most of its customers. Hence, the repayment of the Home Loan assumes significant importance. The ideal mode of repayment is the EMI. This method of repayment ensures the gradual repayment of the principal amount, along with servicing the entire interest portion.

The Home Loan EMI is a constant figure for a specific loan amount, repayment tenure, and rate of interest. The EMI comprises of two components:

Interest repayment component: Any payment into the Home Loan account initially goes towards the interest repayment. In the early stages of the Home Loan, the interest payment component is high because of the substantial principal amount.  
Principal repayment component: The balance left in the EMI amount after servicing the interest and other charges goes towards the repayment of the principal amount. In the initial months, it could even be as low as 0.1% to 0.5% of the entire loan liability. As you keep on repaying the EMI, the proportion improves gradually.

You can also Check Features and Benefits of LRD Loan

IDFC First Bank Home Loan EMI Calculator

Calculating the Home Loan EMI manually can be a challenge because of the following factors:

  • The loan amounts can be substantial
  • The tenures are long, sometimes extending to over 25 years or 300 months
  • The rate of interest can be odd figures like 8.75%, and so on

The Home Loan EMI Calculator thus comes as a well-defined tool that helps in calculating the EMI quickly. Before discussing the tool, let us look into the formula that goes behind calculating the EMI.

EMI = [PR(1+R)^N] divided by [(1+R)^N-1]

  • EMI - Equated Monthly Instalment
  • P - Principal Loan Amount
  • R - Rate of Interest per month
  • N - No of instalments in months

The Home Loan EMI Calculator makes the job simple by computing the EMI amount in an instant.

IDFC First Bank offers the facility of EMI Calculator along with a host of other Home Loan-related calculating tools. The Home Loan EMI Calculator is easy to use. The customer has to enter the following information accurately:

  • Loan Amount - The minimum loan amount you can enter is 10 Lakhs
  • The loan tenure (in months) - The maximum value you can submit is 360
  • Rate of interest - Furnishing the accurate rate of interest gets you the perfect EMI
Loan AmountLoan TenureRate of InterestEMI
 10 Lakhs3608.75% Rs. 7,939

Apart from the EMI amount, this calculator provides you with the annual repayment schedule in the numeric and graphical format. This table will help you understand the concept better.


  • Principal Loan Amount - 10 Lakhs
  • Loan tenure - 360 months
  • Rate of Interest - 8.75%

Points to note:

  • The principal repayment portion is the minimum in the first year. It increases gradually as you progress deep into the repayment schedule.
  • Accordingly, the interest repayment portion reduces annually
  • The outstanding balance reduces gradually. In the first year, it is around 0.74%. It improves to 1.55% at the end of the second year, and so on.

You can also Calculate Rs. 80 Lakhs Home Loan EMI and compare interest rates with Top Banks. 

IDFC First Bank Home Loan EMI Calculator - Factors Affecting the EMI Calculation

The Home Loan EMI calculation depends on the following three variable factors:

  • The loan amount - Bigger the loan, more is the EMI
  • Rate of Interest - Higher the ROI, bigger is the EMI
  • Loan tenure - Longer the loan tenure, smaller is the EMI
EMI @ Rate of Interest - 8.85%
Loan Amount/Tenure 10 Lakhs 25 Lakhs 40 Lakhs
10 yearsRs. 12,587Rs. 31,466Rs. 50,346
20 yearsRs. 8,901Rs. 22,253Rs. 35,604
30 yearsRs. 7,939Rs. 19,846Rs. 31,754
EMI @ Rate of Interest - 9.25%
Loan Amount/Tenure 10 Lakhs 25 Lakhs 40 Lakhs
10 yearsRs. 12,803Rs. 32,008Rs. 51,213
20 yearsRs. 9,159Rs. 22,897Rs. 36,635
30 yearsRs. 8,227Rs. 20,567Rs. 32,907

Points to note:

  • As the loan amount goes up from 10 Lakhs to 40 Lakhs, the EMI keeps increasing at every stage.
  • The EMIs for all amounts at ROI 8.85% are less than the corresponding figures at ROI 9.25%
  • The EMI reduces as we extend the loan repayment tenure

You can also Calculate Rs. 1 Crore Home Loan EMI and compare interest rates with Top Banks 

Alternatives of IDFC First Bank Home Loan EMI Calculator

The IDFC First Bank EMI Calculator is a comprehensive financial tool. Using it is easy. However, alternatives are available on the internet. One such option is the EMI Calculator available on MyMoneyMantra.com. This EMI Calculator is similar to the one displayed on the IDFC First Bank website, but it does not give the amortisation schedule.

IDFC First Bank Home Loan EMI Calculator - Benefits

  • Knowing your Home Loan EMI in advance helps you to manage your budget well
  • You can check out your affordability and eligibility, as well
  • Once you are aware of your home loan eligibility, it becomes easy for you to search the right kind of properties within your budget.
  • Customers having the benefit of age on their side can opt for extended tenures by estimating the EMI for periods up to 30 years.
  • This EMI Calculator provides the details of the interest and principal repayment for each year. It enables you to understand the Home Loan EMI concept.

You can also check Loan EMI through Compound Interest Rate Calculator

IDFC First Bank Home Loan EMI Calculator with Pre-EMI Interest Calculation Option

IDFC First Bank has a unique Home Loan EMI Calculator that accounts for pre-EMI interest while determining the EMI. The procedure for using this calculator is the same. However, borrowers should provide additional information.

  • The loan amount - Minimum amount is 10 Lakhs
  • Loan tenure - This tenure includes the pre-EMI period. The maximum tenure is 360 months
  • Rate of interest - Enter the applicable ROI
  • Interest-only period - Here you have to submit the details of the pre-EMI period. The maximum pre-EMI period is 36 months.
Loan AmountLoan Tenure (including the pre-EMI period)Rate of InterestInterest-only period (pre-EMI period)Pre-EMI periodEMI after the holiday period
10 Lakhs3608.85%36 7,375 8,127

Compare this chart with the EMI calculation chart. You will see that there are two EMIs on this chart. One is the EMI for the pre-EMI period. The other EMI is the EMI for the regular EMI period. The amount is more because the tenure is less. Instead of 360, it is 324.

You can also check Loan EMI through SBI Home Loan EMI Calculator

IDFC First Bank Home Loan EMI Calculator - Pre-EMI Interest Concept

Home Loans for construction purposes come with a holiday period for repayment. The loan disbursement is also in tranches. The regular EMI will commence after the final payment. IDFC First Bank allows a maximum holiday period of 36 months. The interest charged to the Home Loan account before the commencement of the regular EMI is pre-EMI interest.

Many banks capitalise the pre-EMI interest and add it to the Home Loan. IDFC First Bank calculates the pre-EMI interest and insists that the borrowers service this amount every month until the start of the regular EMI. It is beneficial to borrowers in many ways.

You can also check Home Loan EMI through Loan Prepayment Calculator

IDFC First Bank - Other Home Loan Calculators

Besides the Home Loan EMI and the Pre-EMI Interest Calculators, IDFC First Bank has many other Home Loan calculators on its webpage.

  • Eligibility Calculators
    • Income Eligibility Calculator - This calculator helps customers determine their eligibility levels depending on their income and other regular obligations.
    • Balance Transfer Calculator - The Balance Transfer Calculator enables customers to find out the amount they would save on transferring their Home Loan to IDFC First Bank.
  • Home Loan Product Calculators
    • Simple Home Loan Calculator - This calculator requires the customer to enter basic details to know how much Home Loan they can get.
    • Short and Sweet Home Loan Calculator - This Home Loan calculator is useful if the customer has savings every month like a savings account, recurring deposit, or fixed deposit accounts. The customer can link these accounts to the Home Loan and get the benefit of a reduced interest burden.
    • Booster Home Loan Calculator - The Booster Home Loan calculator allows you to add other monthly income to your regular income and arrive at a higher eligibility level.
    • Max Saver Home Loan Calculator - This calculator helps to accumulate all your savings and loan accounts at a single location. It is a combination of the Simple Home Loan Calculator and the Short and Sweet Home Loan Calculator.
  • Other Home Loan-related Calculators
    • Besides the EMI and eligibility calculators, IDFC First Bank offers the following additional calculating tools.
  • Home Buying Tools
    • Stamp Duty Calculator - Depending on the location of the residential property and where you reside, stamp duty applies to all purchases of property. This stamp duty calculator enables you to determine the applicable stamp duty.
    • Area Conversion Calculator - Convert the area of your house or plot of land from one measure to another using this area conversion calculator.
  • Loan Servicing Calculators
    • Part-payment calculator - The part payment calculator will enlighten you about the effect of part payment on your EMI or loan tenure.
    • Payment Planner - This payment planner is useful to determine how regular part payments can affect your loan tenure/EMI. 
    • Loan Repricing Calculator - Any change in the interest rate can affect your repayment schedule/EMI. The loan repricing calculator can help you in this connection.
    • Tax Calculator - The Tax Calculator helps you determine the tax benefits available on your Home Loan repayment. 
    • Under Construction Tax Calculator - If the property is under construction, there is a different tax structure. The Under-Construction Tax Calculator will help you to understand the tax concessions available to the borrower.

You can also check Loan EMI through Loan Against Property EMI Calculator

Amortization Table

YearOpening BalanceAmount paid by customer (EMI*12)Interest paid during the yearPrincipal paid during the yearClosing Balance

IDFC First Home Loan EMI Calculator FAQs

✅ How is the IDFC First Bank Home Loan EMI Calculator different from the others?


The IDFC First Bank Home Loan EMI Calculator helps borrowers to understand the breakup of interest and principal repayment over the full tenure of the loan. It is in addition to estimating the regular EMI.

✅ On what basis is the EMI due date decided?


IDFC First Bank has a separate pre-EMI interest calculator that can determine the pre-EMI interest repayment and the regular EMI, as well.

✅ What are the primary factors that affect the EMI of a Home Loan?


Any factor that affects the rate of interest, Home Loan tenure or the loan amount affects the Home Loan EMI. IDFC First Bank offers floating rates of interest on Home Loans. The market rate variation can result in a change in the Home Loan interest rate, resulting in a change in the EMI/loan tenure. A part-payment made by the borrower can also affect the residual tenure/EMI. The credit of PMAY upfront subsidy affects the Home Loan principal amount, thereby affecting the EMI, as well.

✅ What is the pre-EMI interest concept?


IDFC Bank finances projects under construction. Such Home Loans do not have a single disbursement schedule. The amount is disbursed in several tranches. The repayment does not start immediately. Such loans come with a holiday period that could extend up to 36 months. The interest charged to the Home Loan account before the commencement of the EMI is the pre-EMI interest.

✅ How does IDFC First Bank treat pre-EMI interest?


IDFC First Bank has a pre-EMI interest calculator that determines the amount to be paid during the pre-EMI period. The calculator also estimates the regular EMI payable by the borrower. The borrower should adhere to this schedule, as it is beneficial.

✅ Can the borrower request for capitalisation of interest during the holiday period?


The bank can permit capitalisation of interest during the holiday period. However, it is beneficial for the borrower to repay the pre-EMI interest monthly, as it reduces the financial burden.

✅ How does the change in the interest rate affect the EMI/loan tenure?


The floating rate scenario entails that the Home Loan interest rate changes with a variation in the benchmark rates. It automatically affects the EMI on the Home Loan. A rise in the interest rate increases the EMI and vice versa. This increase in the EMI can affect the budget of the borrower. Hence, IDFC First Bank prefers to maintain the EMI as constant and elongate the loan tenure.

✅ Will a prepayment in the loan account affect the EMI?


Usually, when customers prepay the Home Loan, they do so intending to reduce their liability. They do not request the bank for restructuring their loan account. However, if the bank receives a request for revising their EMI for the residual tenure, the bank accedes to the same.

✅ How does PMAY subsidy affect the EMI?


PMAY subsidy is an upfront interest subsidy. On receiving the grant from the Government, the bank credits it to the loan account, thereby reducing the principal component of the Home Loan. Any decrease in the loan amount directly affects the EMI. It reduces accordingly.

✅ Can I use the Home Loan EMI Calculator to check out the EMI for other loans?


IDFC First Bank Home Loan EMI Calculator does not accept any amount below  10 Lakhs. Therefore, if your loan is  10 Lakhs or more, you can use this calculator to determine your EMI.