India Shelter Home Loan EMI Calculator

India Shelter is a rapidly growing housing finance company offering home loans at affordable rates to fulfill the dream of owning a home by every Indian. The NBFC emphasizes providing housing initiatives at affordable cost. To calculate the EMI of India shelter home loan, you can use the India Shelter home loan EMI calculator. The company offers customized solutions to middle-income households to buy, renovate, and extend their homes. The housing finance company offers home loans at a reasonable interest rate of 10.50%. Borrowers can choose to avail an India Shelter home loan of up to Rs. 50 lakhs for up to 20 years. The India Shelter home loan calculator is a free-to-use online application that can be used to calculate the EMI you need to pay to repay your home loan.  

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1 Lac10 cr

Break up of Total Payment

Your monthly EMI is

Total Amount Payable

  • Principal Amount

  • Total Interest

How to Calculate India Shelter Home Loan EMI?

If you plan to buy a house by availing of a home loan from India Shelter Finance Corporation Ltd.,  you should calculate the monthly EMI to be paid using the India Shelter Home Loan EMI Calculator. This is an important step before embarking on a home-buying journey to evaluate the accurate and error-free results. This will help you get the exact amount you would have to pay as your home loan EMI. You can fill in the online home loan EMI calculator tool with common details like principal amount, interest rate, and loan tenure to estimate the monthly EMI to be paid.

India Shelter Home Loan EMI Calculator Formula

Home loan EMI calculations are done to get an estimation of the EMI that a borrower has to pay every month to repay a loan. This calculation is done with the help of a tool. For your India Shelter EMI calculation, you can use the India Shelter home loan calculator online. By calculating the EMI, you can evaluate your monthly expenses to help with your monthly budget. Below is the India Shelter Home loan calculation formula: 
EMI = [P x R x (1+R)^N] / [(1+R)^N-1] 

In the above formula,
P implies Principal/Loan Amount
R implies Interest Rate, and
N implies the Number of Monthly Repayment Instalments 

Factors Affecting India Shelter Home Loan EMI

The EMI of a loan is determined by several vital factors. It includes the age and income of the borrower, the loan amount and tenure of the loan, the duration of the loan or loan period, as well as the employment status of the borrower, among other things. Let us take into account three key India Shelter Home Loan criteria that determine your monthly EMI:

Income: The income of a borrower is a defining aspect for estimating the repaying capability of the person. A high-income individual can easily manage to repay loan EMIs as compared to a low-income borrower. Hence, the income of the borrower is a definite indicator that affects your home loan EMIs.

Loan Amount: The principal loan amount is what the lender offers to the borrower of a loan. If you want a higher loan amount, it will consequently increase your EMIs and vice versa. 

Rate of Interest:  The interest rate is another key aspect that affects a home loan EMI. Loans with high interest rates are likely to have higher EMIs, whereas lower interest rates will keep your EMIs low.

Benefits of Using India Shelter Home Loan Calculator

Earlier home loan EMIs were calculated using manual processes and formulas. However, along with being complicated, the manual calculations were not very accurate as compared to using a tool for calculation. With the introduction of home loan calculators, finding home loan EMIs became easier and hassle-free. Below are some benefits of the India Shelter home loan EMI calculator:

Fast calculations: Being an online tool, home loan EMI calculators provide fast results while calculating EMIs. You don't have to spend time on lengthy calculations manually; instead, you can enter some basic details in the tool to get results within seconds.

Accurate results: Unlike in manual calculations, the online calculator presents precise and accurate results. You can ensure that the EMI amount received using the online calculator is almost 100% accurate. This helps in planning finances efficiently. 

Easy comparisons: The online calculator also makes it easy to compare loans offered by different loan providers, including banks and NBFCs. This helps you to obtain the home loan at the best possible rates for the most suitable tenure, and also make easy repayment of the loan.

India Shelter Home Loan Interest Calculator Formula

An easy formula is used to calculate monthly EMIs of home loans. Applicants can calculate this amount using the India Shelter home loan interest rate calculator. The calculator is required to feed with components like home loan principal amount, tenure of loan, and interest rate to calculate the EMI as per the below formula:

Total Interest = (P X R X T) / 100

P  is the Principal Amount
R is Interest Rate, and 
T is the number of monthly installments

India Shelter Home Loan Eligibility Criteria

Although home loans are readily available and can be used to buy dream homes, applicants are required to prove their eligibility to get a loan approved. You can use the India Shelter home loan eligibility calculator to evaluate your loan eligibility status. Different factors are considered to check if you qualify for a loan, including your income, age, credit score, and employment status, to name a few. 

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Comparison of India Shelter Home Loan EMI with Other Popular Banks

By comparing interest rates and EMIs of India Shelter Home Loan with its competitors, you can ensure to get the best and competitive rates for home loans. It also helps make an informed decision while applying for a home loan. The table below provides a comparison of India Shelter Home Loan EMI with 3 other competitor banks and NBFCs for a 10-year tenure:

Bank Name Rate of Interest Rs. 10 lakhs Rs. 20 lakhs Rs. 30 lakhs Rs. 40 lakhs Rs. 50 lakhs
India Shelter Home Loan 10.50% p.a. onwards Rs. 13,493 Rs. 26,987 Rs. 40,480 Rs. 53,974 Rs. 67,467
Piramal Housing Finance 11.00% p.a. onwards Rs. 13,775 Rs. 27,550 Rs. 41,325 Rs. 55,100 Rs. 68,875
Aadhar Bank 11.75% p.a. onwards Rs. 14,203 Rs. 28,406 Rs. 42,609 Rs. 56,812 Rs. 71,015
Motilal Oswal Home Loan Interest Rate 11.75% p.a. onwards Rs. 14,203 Rs. 28,406 Rs. 42,609 Rs. 56,812 Rs. 71,015
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India Shelter Home Loan Amortization Schedule

The India Shelter Home Loan Amortization Schedule allows the borrower to comprehend the systematic breakdown of the loan repayment schedule. So, if you want to understand the distribution of various loan components over the tenure of your loan repayment, you can take the help of the amortization schedule of the India Shelter Home Loan. It will also help you in having clarity on your loan repayment journey every month.

Steps to Calculate India Shelter Finance Home Loan Amortized Interest

Step 1: To start with, divide your India Shelter Home Loan interest rate by the total EMIs calculated for a year. For example, if the rate of interest is 10.50% p.a. and the EMI you are paying is on a monthly basis, you would divide 10.50% by 12 = 0.00875

Step 2: Now, multiply your outstanding loan with the number you received in Step 1. This will give you the monthly interest payable. Let’s say, your loan balance is Rs. 5,000,000. So, your interest for the first month would be 5,000,000 x 0.00875 = Rs. 43,750

Step 3: In the next step, deduct the monthly interest you received in Step 2 from your monthly EMI to get the principal amount payable in the 1st month. For example, let’s say your fixed monthly EMI is Rs. 55,270. So, the principal amount to be paid will be Rs. 55,270 - Rs. 43,750 = Rs. 11,520, and this amount will be subtracted from your outstanding loan to calculate the outstanding for the subsequent month

Step 4: Repeat these steps to calculate the principal amount, interest, and outstanding loan balance for each month

The table displayed below will give you an idea of India Shelter Finance Home Loan Amortization Schedule 2024:
Year/Month Principal Amount Interest Loan EMI
2024 Rs. 145090.71 Rs. 518149.29 Rs. 5000000.00 Rs. 663,240
1st Month Rs. 11520.00 Rs. 43750.00 Rs. 500,000.00 Rs. 55,270
2nd Month Rs. 11620.80 Rs. 43649.20 Rs. 43649.20 Rs. 55,270
3rd Month Rs. 11722.48 Rs. 43547.52 Rs. 4976859.20 Rs. 55,270
4th Month Rs. 11825.05 Rs. 43444.95 Rs. 4965136.72 Rs. 55,270
5th Month Rs. 11928.52 Rs. 43341.48 Rs. 4953311.66 Rs. 55,270
6th Month Rs. 12032.90 Rs. 43237.10 Rs. 4941383.14 Rs. 55,270
7th Month Rs. 12138.19 Rs. 43131.81 Rs. 4929350.24 Rs. 55,270
8th Month Rs. 12244.39 Rs. 43025.61 Rs. 4917212.06 Rs. 55,270
9th Month Rs. 12351.53 Rs. 42918.47 Rs. 4904967.66 Rs. 55,270
10th Month Rs. 12459.61 Rs. 42810.39 Rs. 4892616.13 Rs. 55,270
11th Month Rs. 12568.63 Rs. 42701.37 Rs. 4880156.52 Rs. 55,270
12th Month Rs. 12678.61 Rs. 42591.39 Rs. 4867587.89 Rs. 55,270
Disclaimer: You just saw the table with an approximate monthly EMI for a loan amount of Rs. 5,000,000 availed at an interest rate of 10.50% p.a., for a loan tenure of 15 years. Please note that the EMI is subject to variation depending on various factors related to the home loan.


The tenure for repayment of India Shelter home loans is up to 20 years.

A maximum loan tenure of 30 years is given in the India Shelter EMI calculator.

It’s very simple to use the India Shelter home loan EMI calculator online. You just have to enter the loan amount, interest rate, and loan tenure in years to get the results within seconds.

Yes, you can apply for an India shelter home loan online after using the EMI calculator.

Yes, you can check for multiple loan amounts in the India shelter home loan EMI calculator.

Yes, you can ask your bank for an amortization schedule. We at BASIC home loan, EMI, provide amortization schedules of our associated banks and NBFCs for home loan EMIs.