Calculate Mahindra Finance Home Loan EMI

Total Payments-


Total Interest-
Principal Amount-
Total EMI


View Details
  • Loan Amount
  • Interest Rate
  • Your EMI
  • Tenure
  • ₹50,00,000
  • 9%
  • ₹0
  • 30

About Mahindra Finance Home Loan

Some of the attractive features of Mahindra Finance Home Loan are as follows:

  • Extensive network with a Mahindra Finance outlet, present in every second village in the country
  • Easy processing
  • Flexible repayment options
  • Prompt service
  • Loans available for all housing purposes
  • Competitive rates of interest
  • Facility to apply online
  • Calculate your eligibility and EMI online
ProductInterest ratesTenureProcessing feeIdeal for
Regular Home LoanStarting from 9.00%20 years1-3.5% of the sanctioned amount (Minimum: Rs 1,000)All housing requirements
PMAYStarting from 11.50%20 yearsAs per Govt guidelinesProduct of MRHFL

Additional Info: Also check Mahindra Finance Personal Loan

Home Loan Apply Online

Mahindra Finance Home Loan Interest Rates

  • Mahindra Finance Home Loan interest rates start from 9.00% for the floating rate of interest Home Loans.

Additional Info: Looking for 25 Lakh Home Loan? Check EMI & Apply.

Mahindra Finance Home Loan EMI Calculation Details

The EMI calculation comprises of a complicated formula. It accounts for various factors. There are three variables to contend with, such as:

  • The principal loan amount approved by the company
  • The rate of interest applicable to the Home Loan
  • The loan repayment tenure

The formula is as enumerated below:

EMI = [PR(1+R)^N] / [(1+R)^N-1] where P, R, and N constitute the principal loan amount, the ROI, and the loan repayment period.

Though the formula appears intimidating, it is easy to calculate the EMI using a readymade EMI Calculator. Mahindra Finance offers the facility of such an EMI Calculator on its website. The calculator is easy to use. The customer has to input the three variables, and the system does the calculation within no time.

Loan AmountRate of InterestLoan tenureEMI
 10 Lakhs9.00%240 months 8,997

Factors That Affect the EMI Calculation

The EMI calculation depends on the following three variables:

  • Loan amount - Higher the loan amount, the more significant is the EMI payable
  • Rate of interest (ROI) - As the ROI goes up, so does the EMI
  • Loan repayment period - In inverse proportion to the EMI
Rate of Interest = 11.50%
Tenure 10 Lakhs 15 Lakhs 20 Lakhs
10 yearsRs. 14,060Rs. 21,089Rs. 28,119
15 yearsRs. 11,682Rs. 17,523Rs. 23,364
20 yearsRs.  10,664Rs. 15,996Rs. 21,329
Rate of Interest = 12%
Tenure 10 Lakhs 15 Lakhs 20 Lakhs
10 yearsRs. 14,347Rs. 21,521Rs. 28,694
15 yearsRs. 12,002Rs. 18,003Rs. 24,003
20 yearsRs. 11,011Rs. 16,516Rs. 22,022


  • The increase in the rate of interest from 11.50% to 12% entails the enhancement of the EMI at every step.
  • As the principal loan amount increases from 10 Lakhs to 15 Lakhs and 20 Lakhs, the EMI increases proportionately.
  • The extension of the tenure has a reverse effect. As we move from 10 years to 15 and 20 years, the EMI reduces.

Additional Info: Looking for 10 Lakh Home Loan? Check EMI & Apply.

Mahindra Finance Home Loan EMI Calculator Benefits

  • It does not take more than a few seconds to Calculate the Home Loan EMI
  • Knowing your Home Loan repayment obligations in advance is useful as it helps to manage your budget well.
  • Being aware of the Home Loan EMI can bring a sense of financial discipline
  • It becomes easy to recalculate the EMI in the event of interest rate fluctuations
  • One can use this EMI Calculator for calculating the EMI of other loans, as well

Additional Info: Also check HDFC Home Loan EMI Calculator

Factors Affecting Mahindra Finance Home Loan EMI

Interest rate fluctuations

Mahindra Finance offers Home Loans at fixed and floating rates of interest. The floating rates of interest are linked to the Prime Lending Rate of Mahindra Finance. As the PLR changes, so do the rate of interest on Home Loans. As the ROI is a crucial feature of the EMI calculation, a difference in the ROI will bring a corresponding change in the EMI amount.

Moratorium Period

The concept of EMI is such that it commences after the final disbursement of the loan. In the case of finance for properties under construction, the disbursement happens in tranches. Hence, the company grants a moratorium or holiday period for servicing the EMI. This period could stretch up to 18 or even 24 months. Generally, financing companies insist on the servicing of the interest every month before the commencement of the regular EMI. At times, they also allow capitalisation of the interest. Under such circumstances, the principal loan amount increases, thereby bringing about a change in the EMI.

PMAY Subsidy

PMAY beneficiaries are entitled to interest subsidy from the Government. This Government grant is an upfront subsidy. It is credited to the loan account immediately on receipt from the Government. The credit of upfront PMAY Subsidy reduces the principal loan amount considerably. The loan amount has a significant role to play in the estimation of the EMI. As the loan amount reduces, so does the EMI.

Category of borrowerEWSLIGMIG-IMIG-II
Loan amount Rs. 7 Lakhs Rs. 10 Lakhs Rs. 15 Lakhs Rs. 18 Lakhs
Rate of interest11.50%11.50%11.50%11.50%
Loan tenure20 years20 years20 years20 years
EMI before subsidy Rs. 7,465 Rs. 10,664 Rs. 15,996 Rs. 19,196
Subsidy amount Rs. 2.67 Lakhs Rs. 2.67 Lakhs Rs. 2.35 Lakhs Rs. 2.30 Lakhs
Loan amount after subsidy Rs. 4.33 Lakhs Rs. 7.33 Lakhs Rs. 12.65 Lakhs Rs. 15.70 Lakhs
Revised EMI Rs. 4,618 Rs. 7,817 Rs. 13,490 Rs. 16,743
Benefit Rs. 2,847 Rs. 2,847 Rs. 2,506 Rs. 2,453

Additional Info: Also Apply Home Renovation Loan

Mahindra Finance Home Loan EMI Calculator Alternatives

MyMoneyMantra.com has an identical EMI Calculator on its webpage. It provides accurate EMI results. Using the calculator is also easy.

  • Access the MyMoneyMantra website
  • Go to Financial Tools > EMI Calculator
  • Enter the loan amount, ROI, and loan tenure correctly
  • Click on 'Calculate' to get your Home Loan EMI

Besides the EMI, this calculator offers details of total interest payable on the loan amount for the entire loan tenure.

Additional Info: Also check Pan Number for Banks

Mahindra Finance Home Loan EMI Tax Benefits

Housing is a priority issue in India. The Government has announced income tax benefits to individuals for repaying their Home Loan instalments. The benefits are available for both interest repayment and principal amount repayment.

Sec 80C of the IT Act entitles individuals to claim tax benefits up to 1.50 Lakhs on the repayment of the principal portion of the Home Loan.

Sec 24 of the IT Act allows individuals to get benefits up to 2 Lakhs on the repayment of the interest component of the Home Loan.

Additional Info: You can also Check AnyRoR Gujarat Land Record

Amortization Table

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


✅ How useful is the Mahindra Finance Home Loan EMI Calculator?


The Mahindra Finance Home Loan EMI Calculator is a handy tool for estimating the Home Loan EMI. It is a straightforward calculation where customers have to submit information like loan amount, ROI, and the loan repayment tenure.

✅ How does Mahindra Finance charge interest on Home Loan?


Mahindra Finance charges Home Loan interest on monthly reducing balance basis. This mode of calculation is different from that adopted by commercial banks in India that work on daily reducing balances.

✅ How is the monthly reducing balance method different from the daily reducing balance mode of calculation of interest?


The primary area of difference is the base figure that these methods take up for the calculation. In the monthly reducing balance method, the base figure is the closing balance of the previous month.

For example, the company calculates interest for September on the closing balance of August. In the daily reducing balance method, the base figure is the daily balances in the account. The very nature of calculation suggests that the daily reducing balance method is more beneficial to the borrower.

✅ How does the customer benefit from the daily reducing balance calculation?


The customer gets the benefit of interest calculation on the EMI they pay during the month. For example, if the customer pays the EMI on the 5th of the month, the system calculates the benefit of interest for the next 25 or 26 days left in the month. It is not the case in the monthly reducing balance method.

✅ How does Mahindra Finance treat the EMI in the event of interest rate fluctuations?


Mahindra Finance offers Home Loans on both fixed and floating rate basis. The EMI in the case of a fixed rate of interest Home Loans does not change with any fluctuation in the interest rates. However, the floating rate Home Loan EMIs is subject to change with every variation in the rate of interest. The modification in the EMI can cause financial problems for borrowers, especially if they are borderline cases. Hence, Mahindra Finance tries to maintain the EMIs as constant while varying the tenures accordingly.

✅ Should Mahindra Finance convey the change in the tenure to the customer?


Yes, any change in the contracted terms should be in the knowledge of both the parties. It is obligatory on the part of Mahindra Finance to inform the customer of any change in the tenure or the EMI.

✅ Can the customer approach the company for a restructuring of the Home Loan?


Yes, restructuring of the EMI is possible under two extreme cases. One is when the borrower makes an advance payment, thereby reducing the principal liability. They can approach the company to reduce the EMI for the residual period. The other occasion is when the customer is not in a position to service the EMI. He can approach the company to extend the tenure and reduce the EMI.

✅ What is the most significant limitation of the Home Loan EMI Calculator?


The EMI calculation depends on the assumption that the borrower will service the EMI on time. Any delay or default in the payment of the EMI can affect the calculation.

✅ Does the Mahindra Finance Home Loan EMI Calculator estimate the pre-EMI interest?


No, the Mahindra Finance Home Loan EMI Calculator cannot do complicated transactions like accounting for pre-EMI interest.

✅ Can you calculate the Home Loan EMI using MS Excel tables?


Yes, MS Excel is one of the best tools to calculate EMI. The formula is a straightforward one. EMI = PMT(rate,nper,pv) where:

  • PMT is the MS Excel function denoting EMI
  • Rate is the monthly ROI (If the annual ROI is 12%, the monthly ROI is 12/1200)
  • NPER is the number of instalments in months
  • PV is the loan amount, also known as Present Value