An equated monthly installment (EMI) is what you pay every month towards repayment of your loan. Your Home Loan EMI depends on the loan amount, the rate of interest and the tenure of the loan. For a given loan amount and interest rate, your EMI can be lower if you increase the loan tenure. Check out our Home Loan EMI Calculator to find out by how much you can reduce your present EMI. Of course, keep in mind that banks will allow you to increase the tenure only up to your retirement age.