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About EMI Calculator

With our Home Loan EMI Calculator, you can now get approximate figures for the total payments due along with a break-up of the Home Loan repayment process. The calculations made by means of the Home Loan Calculator will be based on the loan tenure as well as the interest rates that are being levied on the same.

With our EMI Calculator for Home Loan, you can get a reasonable understanding about the ratio of the principal amount to the interest due, based on the effect of the Home Loan tenure and interest rates.

EMI Calculator

Loan Amount :
Loan Tenure :
1 Year
30 Year
Rate of Interest :

Your EMI Amount will be


Principal Amount


Interest Amount


Total Amount Payable


Note: These calculators are provided only as general self-help planning tools. Results depend on many factors, including the assumptions you provide. We do not guarantee their accuracy, or applicability to your circumstances or an assurance from SHFL on the calculations.

About SHFL

Shriram Housing Finance Limited (SHFL) is a housing finance organisation registered with the National Housing Bank (NHB). We are a part of the Shriram Group, with a rich legacy of almost five decades.

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Frequently Asked Questions

When is the right time to apply for a home loan?

From the time you decide to invest in real estate to the time you decide the final property, any time in between is a good time to apply for loans. The loan amount is sanctioned in principle so that you can know the loan amount limit. This will help you plan your other expenses involved during setting up your dream home.

Is home loan only for a ready property?

The good news is that you can avail a home loan for any ready property, under construction or if you are constructing your own house. The loan can also be applied before the commencement of the project.

Can I get an in-principle approval and actually avail of the loan later?

We are happy to say yes again! Before you choose the house you want to buy, we give you an in-principle approval based on your income and capacity to repay. This makes the entire process of identifying and buying a house easier and more flexible.

Who can be a co-applicant?

The Co-owners of the property for which loan has been sought can be co-applicants. The co-applicants must be blood relatives. Usually, joint applications are from husband-wife, father-son or mother-son.

Why should I have a co-applicant to the loan?

To maximize the sanctionable loan amount.. Adding a woman as co-applicant also helps in getting a better interest rate.

What is the minimum and maximum age norms to avail the housing loan from SHFL ?

The minimum age is 25 Years and the maximum age is 65 Years as per SHFL credit policy norms for SEP/SENP. Maximum Age norms will be 60 years or retirement age whichever is earlier for salaried profile

How do I repay a home loan?

The borrower may make the monthly repayments of loan through NACH Mode, after filling up the NACH Mandate Form.

When can I apply for a home loan application?

You can apply for a Home Loan at any time once you have decided to purchase or construct a property, even if you have not selected the property or the construction has not commenced. You may visit our “https://shriramhousing.in/contact-us” nearest branch and request for the application form.

From where can I download "SHFL Home Loan" mobile application?

The “SHFL Home Loan” mobile application can be downloaded from Google play store or by simply clicking the link https://shriramhousing.in/

Can my spouse be a co applicant in a home loan? Will our income be taken into consideration for calculating the home loan amount?

Yes, you can add your spouse as a co applicant in your home loan. Your spouse's income can also be considered for ascertaining your home loan eligibility subject to availability of income documents as required by SHFL.

Can I get an approval for a home loan while I decide which property, I should purchase?

You can apply for a financial sanction based on income eligibility subject to legal and technical clearance of the property as and when property is finalized. Home loan which is an in-principal approval for a loan given on the basis of your income, creditworthiness and financial position. Generally, Property not identified (PNI) sanctions are taken prior to property selection and are valid for a period of 3 months from the date of sanction of the loan.

Is it mandatory to have a co-applicant when you apply for a Home Loan? If yes, who can be a co-applicant for my Home Loan?

Yes, it is mandatory to have a co-applicant in your home loan. However, if the property for which the home loan is to be availed is jointly owned, then all co-owners in the said property will have to be co-applicants in the home loan. Co-applicants are generally close family members.

What is part/subsequent disbursement of a home loan?

SHFL disburses loans for under construction properties in instalments based on the progress of construction. Every instalment disbursed is known as a 'part' or a 'subsequent' disbursement.

When does my home loan EMIs start?

EMI's begins from the date of debit in the Loan account simultaneously with lenders disbursement of the loan subsequent to the month in which disbursement of the loan is done. For loans for under-construction properties EMI usually begins after the complete home loan is disbursed. For resale cases, since the whole loan amount is disbursed in one go, EMI on the whole loan amount starts from the subsequent month to the month of disbursement.

What is the maximum home loan that I can obtain?

Loan under Home Loan product varies based on the different product cap, the loan amounts usually varies from Minimum INR 7.50 Lakhs to Max INR 10 Crores.

How does your home loan repayment work?

A home loan is usually repaid through Equated Monthly Instalments (EMI).The EMI comprises of the principal and interest components which are structured in a way that in the initial years of your loan, the interest component is higher than the principal component, while towards the later half of the loan, the principal component is higher and interest component will be lower.

What is the maximum tenure allowed for repayment of your home loan?

Repayment Tenure of the loan depends on the Profile and Income assessment of the borrower. The Minimum tenure will be 1 year and M

Who can be a co-applicant to my housing loan?

All co-owners of the property need to be co-applicants to the house loan. Generally, co-applicants are close family members.

Will interest rate change during home loan tenure?

Your housing loan interest rate depends on the type of loan you choose. There are two types of loans: Fixed Rate & Floating Rate “Rate of interest” means the rate at which SHFL shall compute and apply interest on the Loan, as stated in the Schedule. “Fixed" means rate at which SHFL shall compute and apply the interest on the Loan for the specified tenure of the Loan. “Floating" means rate at which SHFL shall compute and apply interest on Loan from time to time at the sole discretion of the company and linked to SHFL Prime Lending Rate.

Do I need a home loan guarantor?

No. You don’t need to have a guarantor for your home loan. You will only be asked for a guarantor in certain situations, namely: • When the primary applicant has a weak financial standing • When the applicant wants to borrow an amount that is beyond their eligibility. • When the applicant earns less than the established minimum income criteria.

What are the factors that determine home loan eligibility?

Some of the factors that determine your eligibility for a home loan are: • Income and Repayment Capacity • Age • Financial Profile • Credit History • Credit Score • Existing Debt/EMIs

What Is EMI?

EMI (Equated Monthly Instalment) shall mean the amount payable every month by the Borrower to the Lender comprising of interest, principal and interest or as the case may be.

What Is Pre-EMI?

“Pre-Equated Monthly Interest Instalment" means the interest on part disbursements of loan, from the date of disbursement to the date, prior to the date of commencement of EMI.

Why should I get Home insurance?

In the event of an unfortunate incident, home loan insurance will help you or your family pay off the home loan. This ensures that the burden does not suddenly fall upon family members at a bad time.

Does the property have to be insured?

Yes, you will have to ensure that your property is duly and properly insured for fire and other appropriate hazards during the pendency of the loan. You will also have to produce evidence thereof to SHFL, each year and/or whenever called upon to do so. SHFL should be the beneficiary of the insurance policy.

What does ‘own contribution’ mean?

‘Own Contribution’ is the total cost of the property less SHFL’s home loan.

What does ‘market value’ of the property mean?

Market value refers to the estimated amount that is expected to be fetched on the property as per the prevailing market conditions.

Do I get tax benefits on the loan?

Yes. You are eligible for tax benefits on the principal and interest components of your Home Loan under the Income Tax Act, 1961.

What security will I have to provide?

Security of the loan would generally be security interest on the property being financed by us and / or any other collateral / interim security as may be required by us. It is extremely important for you to ensure that the title to the property is clear, marketable and free from encumbrance. There should not be any existing mortgage, loan or litigation, which is likely to adversely affect the title to the property.

When do I start repaying the principal amount?

Repayment of the principal commences from the month following the month in which you avail full disbursement of your loan. Any amount over and above the interest which is paid by you goes towards principal repayment, thus helping you repay the loan faster. This is especially useful in case your disbursements are likely to be spread over a longer period of time.

What does ’Agreement to Sale ’mean?

The ’Agreement to Sale ’ in a property transaction is a legal document executed on a stamp paper that records in writing the understanding between the buyer and the seller and all the details of the property such as area, possession date, price etc.

What does encumbrance refer to?

Encumbrance on a property refers to claims or charges on the property due to liabilities such as unpaid loans and bills. It is critical that during your home search you consider properties which are free of encumbrances of any sort.

What is an under construction property?

An under construction property refers to a home which is in the process of being constructed and where possession would be handed over to the buyer at a subsequent date on completion of the property.

When can I take disbursement of the loan

You can take disbursement of the loan once the property has been technically appraised, all legal documentation has been completed and you have paid your Own Contribution in full.

In how many instalments will the loan be disbursed to me?

Once we receive your request for disbursement, we will disburse the loan in full or in instalments. In case of an under construction property, we will disburse your loan in instalments based on the progress of construction, as assessed by us and not necessarily according to the developer’s agreement. You are advised in your own interest to enter into an agreement with the developer wherein the payments are linked to the construction work and not pre-defined on a time-based schedule.

Can I repay my loan ahead of schedule?

Yes, you can repay the loan ahead of schedule by making lump sum payments towards part or full prepayment, subject to the applicable foreclosure charges as per RBI Master Directions.

What is part/subsequent disbursement of a home loan?

SHFL disburses loans for under construction properties in instalments based on the progress of construction. Every instalment disbursed is known as a 'part' or a 'subsequent' disbursement.

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