Indian Overseas Bank Home Loan EMI Calculator
Monthly EMI
₹ 0
Detailed Yearly Loan Repayment Schedule
See how your loan gets paid off year by year including how much goes toward interest, principal, and your remaining balance.
| Year | Principal Paid | Interest Paid | Total Payment | Remaining Balance |
|---|
About Indian Overseas Bank Home Loans
With an extensive legacy in financial services, Bank has continually evolved to meet modern-day housing needs. Their home loan solutions are designed for a wide range of customers, offering perks such as step-up EMIs, balance transfer options, and joint loan benefits. The bank also supports affordable housing schemes under government programs, ensuring access to homes for every Indian. For over a decade, Bank has remained committed to simplifying home loan access across urban and rural areas. Their offerings include fixed and floating interest rate loans, long-term tenures of up to 30 years, and easy repayment options. In addition, customers enjoy doorstep service and digital tracking for enhanced convenience. Their EMI calculator ensures you're financially prepared for the commitment. With an extensive legacy in financial services, Bank has continually evolved to meet modern-day housing needs. Their home loan solutions are designed for a wide range of customers, offering perks such as step-up EMIs, balance transfer options, and joint loan benefits. The bank also supports affordable housing schemes under government programs, ensuring access to homes for every Indian.
EMI Calculation Formula
The EMI (Equated Monthly Installment) is computed using this formula:
EMI = [P × R × (1 + R)^N] / [(1 + R)^N – 1]- P = Principal amount borrowed
- R = Rate of interest per month
- N = Total number of monthly installments
Example Calculation
Suppose you take a home loan of ₹4,500,000 from Bank for a tenure of 25 years at an annual interest rate of 8.95%.
- Estimated Monthly EMI: ₹37,609.88
- Total Repayment: ₹11,282,964.00
- Total Interest Payable: ₹6,782,964.00
Benefits of Using the EMI Calculator
- Visualize your monthly and overall repayment schedule instantly
- Try different combinations of amount, tenure, and interest rate
- Make informed financial planning decisions
- Easy to use and accessible from any device
Frequently Asked Questions
How is the EMI affected if I increase the tenure at Bank?
Bank provides a detailed explanation and policy for this. Please refer to the official website or speak to a loan officer for personalized advice.
How can I apply for a Bank home loan online?
Bank provides a detailed explanation and policy for this. Please refer to the official website or speak to a loan officer for personalized advice.
What is the processing time for a loan with Bank?
Bank provides a detailed explanation and policy for this. Please refer to the official website or speak to a loan officer for personalized advice.
Does Bank offer a lower interest rate for women applicants?
Bank provides a detailed explanation and policy for this. Please refer to the official website or speak to a loan officer for personalized advice.
Can I transfer my existing home loan to Bank?
Bank provides a detailed explanation and policy for this. Please refer to the official website or speak to a loan officer for personalized advice.
Plan Smart with Bank
Take advantage of the Bank EMI Calculator to assess your home loan options. Understand your repayment obligations, adjust your budget, and move closer to your dream home without surprises.