Shriram Finance Home Loan EMI Calculator

Partner with Shriram Housing Finance Ltd. in your journey to homeownership. The emerging NBFC is known to offer easy home loans to potential homeowners and existing homeowners. Understanding the financial implications of a home loan, we recommend using the Shriram Finance EMI calculator to quickly and accurately calculate your home loan EMI. The online Shriram Housing Finance EMI Calculator is a user-friendly tool that empowers potential homebuyers to make informed decisions. Continue reading to understand all about the benefits of using a Shriram home loan calculator, and factors that might affect your home loan  EMI. 

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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 Shriram Finance Home Loan EMI?

Knowing how to calculate your home loan EMI helps you plan your finances well, so it is important to know how to use the Shriram Finance EMI calculator. The process to calculate home loan EMI is straightforward and can be done using a simple formula by inputting some factors such as the home loan amount, interest rate, and the total number of repayment installments.

Shriram Finance Home Loan EMI Calculator Formula

Use the Shriram Finance calculator online and make budget planning easier. Understanding the nuances of the Shriram Finance calculation formula will help you prepare well for the home loan journey, so here is the formula: 

EMI = [P x R x (1+R)^N] / [(1+R)^N-1] 

In the above formula:

P is for the Principal Amount
R is for the Rate of Interest
N is for the Number of Monthly Repayment Instalments 

Factors Affecting Shriram Finance Home Loan EMI

Home loan EMI is calculated using the above entities, such as the principal amount, loan tenure, and interest rate. Hence, the Shriram home loan criteria are largely impacted by these three main factors in the following manner:

Principal Amount: Call it the principal amount or the loan amount; this sum directly impacts the home loan EMI. As a matter of fact, the higher your loan amount, the higher its EMI, and similarly, the lower the loan amount, the lower its EMI. 

Tenure: The duration for which a home loan is availed also plays a significant role in determining the EMI. The longer tenure home loans mean a low amount in terms of EMI, and a shorter tenure indicates a larger amount of EMI. 

Interest Rate: The most important factor that can impact the Shriram Home Loan EMI is its interest rate. The EMI can change if you have a floater rate plan depending on the fluctuation in the interest rate, and it will remain constant for a fixed rate plan. Moreover, the higher the interest rate of the home loan, the higher the home loan EMI would be. 

Benefits of Using Shriram Finance Home Loan Calculator

Utilizing a home loan finance calculator offers numerous advantages to borrowers. It helps provide valuable insights and assists the borrower in making informed decisions throughout the loan process. Listed below are the top three benefits of the Shriram Finance EMI calculator:

Time-Saving: You have several other important commitments in your day-to-day life, don't you? Then, why waste time calculating the home loan EMI manually when you can assess the online home loan EMI calculator available at the official website of the BASIC Home Loan: EMI.

Precise & Accurate: The ultimate advantage of using the online home loan EMI calculator is to get flawless and accurate information. Remember, there is always a scope for error in manual calculations for the same, but if you feed the calculator with the right inputs, it will give you precise calculations. 

Helps Comparing Loan Scenarios: Not to forget that when you use a home loan EMI calculator you can easily compare various loan scenarios by simply adjusting the loan tenure and interest rate. This comparison will help you choose the best suitable financial goals with a home loan. 

Shriram Finance Home Loan Interest Calculator Formula

The Shriram Finance home loan interest rate calculator formula takes into consideration the same three fundamental factors that were taken into consideration in the home loan EMI calculation formula. The commonly used formula for calculating the Shriram Home Loan Interest is elaborated below:

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

In the above formula:

P is for Principal Amount
R is for the Rate of Interest 
T is for the Time or Tenure in terms of monthly installments

Shriram Finance Home Loan Eligibility Criteria

If there is a Shriram Home Loan EMI Calculator to calculate the monthly EMI, there is a Shriram Finance eligibility calculator to help you check your eligibility for a home loan from this NBFC. Lenders usually consider the age, nationality, credit score, and income to assess the eligibility of an applicant for a home loan, and this eligibility calculator also uses these parameters to judge whether you qualify for a home loan or not. 

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Comparison of Shriram Finance Home Loan EMI with other Popular Banks

If you are still in a dilemma about whether or not to opt for the Shriram Finance Home Loan, then the table below will help you get some clarity. This table shows you a comparison between the Shriram Housing Finance EMI with 5 prominent 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
Shriram Housing Finance 9.50% p.a. onwards Rs. 12,940 Rs. 25,880 Rs. 38,819 Rs. 51,759 Rs. 64,699
IndusInd Bank 8.5% p.a. onwards Rs. 12,399 Rs. 24,797 Rs. 37,196 Rs. 49,594 Rs. 61,993
Navi Housing Finance 8.55% p.a. onwards Rs. 12,425 Rs. 24,851 Rs. 37,276 Rs. 49,701 Rs. 62,127
Cholamandalam Home Loan 9.00% p.a. onwards Rs. 12,668 Rs. 25,335 Rs. 38,003 Rs. 50,670 Rs. 63,338
Piramal Housing Finance 11.00% p.a. onwards Rs. 13,775 Rs. 27,550 Rs. 41,325 Rs. 55,100 Rs. 68,875
Motilal Oswal Housing Finance 11.75% p.a. onwards Rs. 14,203 Rs. 28,406 Rs. 42,609 Rs. 56,812 Rs. 71,015
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Shriram Finance Home Loan Amortization Schedule

Shriram Home Loan Amortisation Schedule is a detailed table that helps the borrower determine how much money they are paying every month in EMIs for the principal and interest components. The amortization schedule table not only helps get clarity about the monthly home loan EMI but also helps in proper budgeting throughout the loan tenure. 

Steps to Calculate Shriram Finance Home Loan Amortized Interest

Step 1: Divide your Shriram home loan interest rate by the total number of EMIs you will make in a year. For instance, 9.5% p.a. and you make monthly payments, then you would divide 9.5% by 12 = 0.0079
Step 2: Multiply the number you got in Step 1 with your outstanding loan, and you will get the monthly interest payable. For instance, if your loan balance is Rs. 5,000,000, your first month's interest would be 5,000,000 x 0.0079 = Rs. 39,583
Step 3: Deduct the monthly interest calculated in Step 2 from your fixed EMI to know the principal payable in the 1st month. For instance, if your fixed monthly EMI is Rs. 52,211, you will pay Rs. 52,211 - Rs. 39,583 = Rs. 12,627 as the principal amount, and this amount will be deducted from your outstanding loan to calculate the outstanding for the subsequent month
Step 4: Continue repeating these steps to calculate the interest, principal, and outstanding loan balance for each month

The table displayed below will give you an idea of Shriram Finance Home Loan Amortization Schedule 2024:
Year/Month Principal Amount Interest Loan EMI
2024 Rs. 158,307.21 Rs. 468,224.79 Rs. 5,000,000.00 Rs. 606,792.00
1st Month Rs. 12,627.67 Rs. 39,583.33 Rs. 5,000,000.00 Rs. 52,211
2nd Month Rs. 12,727.64 Rs. 39,483.36 Rs. 4,987,372.33 Rs. 52,211
3rd Month Rs. 12,828.40 Rs. 39,382.60 Rs. 4,974,644.70 Rs. 52,211
4th Month Rs. 12,929.95 Rs. 39,281.05 Rs. 4,961816.30 Rs. 52,211
5th Month Rs. 13,032.32 Rs. 39,178.68 Rs. 4,948,886.35 Rs. 52,211
6th Month Rs. 13,135.49 Rs. 39,075.51 Rs. 4,935,854.03 Rs. 52,211
7th Month Rs. 13,239.48 Rs. 38,971.52 Rs. 4,922,718.54 Rs. 52,211
8th Month Rs. 13,344.29 Rs. 38,866.71 Rs. 4,909,479.06 Rs. 52,211
9th Month Rs. 13,449.93 Rs. 38,761.07 Rs. 4,896,134.77 Rs. 52,211
10th Month Rs. 13,556.41 Rs. 38,654.59 Rs. 4,882,684.84 Rs. 52,211
11th Month Rs. 13,663.73 Rs. 38,547.27 Rs. 4,869,128.43 Rs. 52,211
12th Month Rs. 13,771.90 Rs. 38,439.10 Rs. 4,855,464.69 Rs. 52,211
Disclaimer: The information provided above is for the EMI for a loan amount of Rs. 5,000,000 applied at an interest rate of 9.50% p.a., for a loan tenure of 15 years. Remember, the EMI is subject to vary depending on the variation in factors used to calculate the EMI.


Yes, the main purpose of using the home loan calculator is to help the borrowers find their Equated Monthly Installments (EMIs), so it will definitely help them understand their monthly home loan repayment obligations.

For borrowers who wish to become debt-free, it is a good option to enhance the home loan EMI. Whereas borrowers who are tight on the monthly budget must choose to extend the home loan tenure.

Yes, you can expect 100% accurate results using the Shriram Housing Finance Home Loan EMI Calculator, provided you input the right information required. 

The three key details required to enter in the Shriram Finance EMI Calculator are interest rate, loan tenure, and principal loan amount. 

The main benefit of using a Shriram Finance Home Loan EMI Calculator is to get a quick and accurate estimate of the monthly repayments. This, in turn, helps the borrower assess the affordability of the home loan and budget well. 

The main advantage of opting for the maximum home loan tenure is to pay low EMIs every month. However, on the downside, it incurs an overall higher interest rate and keeps you bound by the home loan for a longer period. 

The disbursement of a home loan may vary from lender to lender, depending on the lender's own terms and conditions. So, you are advised to refer to the bank or NBFC you choose to apply for a home loan.