Home Loan EMI Calculator
Home loans are long, large and usually floating-rate — so small rate differences and your choice of tenure change the total interest by lakhs. Plan the EMI within 40–50% of take-home pay and use prepayments to finish early.
Home Loan EMI calculator
Move the sliders or type values. Switch tenure between years and months, add the processing fee to see the true cost (APR), and set the first EMI month to see when the loan ends.
Year-wise principal and interest
Early years are interest-heavy; the principal share grows every year. Hover or tap a bar for details.
Amortisation schedule
Year-wise summary — tap “+” to see every month. Download the full monthly schedule as a spreadsheet.
Prepayment calculator — how much can you save?
Test a one-time part-payment, a fixed extra amount every month, or a yearly EMI increase. Prepayments reduce the principal on which future interest is charged, so early payments save the most.
Interest-rate change — new EMI or longer tenure?
Floating-rate loans reset when the benchmark (usually the RBI repo rate) changes. See both options your lender may offer.
Compare loan offers side by side
Enter up to three offers. The cheapest is the one with the lowest total cost (interest + processing fee + GST), not just the lowest rate.
Loan eligibility — how much can you borrow?
Lenders cap your total EMIs as a share of net income (FOIR), commonly 40–60%. This estimates the largest loan your income can support.
Flat rate vs reducing rate converter
Some dealers and NBFCs quote a flat rate, charging interest on the original amount for the entire tenure. Convert it to the reducing-balance rate banks use to compare fairly.
About Home Loan EMIs
Home loans are long, large and usually floating-rate — so small rate differences and your choice of tenure change the total interest by lakhs. Plan the EMI within 40–50% of take-home pay and use prepayments to finish early.
| Particular | Details |
|---|---|
| Typical rate (2026) | ≈ 7.5% – 10% p.a., linked to an external benchmark (repo) for floating loans |
| Tenure | Up to 30 years (often till age 60–70) |
| Loan-to-value | 90% up to ₹30 lakh · 80% for ₹30–75 lakh · 75% above ₹75 lakh |
| Prepayment | No charges on floating-rate loans for individuals |
| Tax (old regime) | Principal within ₹1.5 lakh (Sec 80C / 123); interest up to ₹2 lakh on self-occupied house |
Tips to reduce your Home Loan cost
- Choose the shortest tenure you can comfortably afford, then prepay yearly.
- When the repo rate changes, ask the bank to change the EMI rather than silently extending tenure.
- Compare the spread over repo, not only the starting rate.
- Budget stamp duty, registration and interiors separately — they are not financed.
How EMI is calculated
Worked example
| Step | Value |
|---|---|
| Loan amount (P) | ₹50,00,000 |
| Monthly rate (r) | 8.5 ÷ 12 ÷ 100 = 0.007083 |
| Instalments (n) | 20 × 12 = 240 |
| (1 + r)n | 5.4412 |
| EMI | ₹43,391 |
| Total interest | ₹54,13,879 |
| Total payable | ₹1,04,13,879 |
How tenure changes the EMI (₹50,00,000 at 8.5%)
| Tenure | EMI | Total interest | Interest vs loan |
|---|---|---|---|
| 7 years | ₹79,182 | ₹16,51,324 | 33% |
| 10 years | ₹61,993 | ₹24,39,141 | 49% |
| 15 years | ₹49,237 | ₹38,62,656 | 77% |
| 20 years | ₹43,391 | ₹54,13,879 | 108% |
| 25 years | ₹40,261 | ₹70,78,406 | 142% |
| 30 years | ₹38,446 | ₹88,40,443 | 177% |
How the rate changes the EMI (₹50,00,000 for 20 years)
| Rate | EMI | Total interest |
|---|---|---|
| 7.5% | ₹40,280 | ₹46,67,118 |
| 8% | ₹41,822 | ₹50,37,281 |
| 8.5% | ₹43,391 | ₹54,13,879 |
| 9% | ₹44,986 | ₹57,96,711 |
| 9.5% | ₹46,607 | ₹61,85,574 |
What decides your EMI — and how to lower it
A bigger down payment reduces both EMI and interest.
Improve your credit score and compare APRs; negotiate the spread.
Longer tenure = lower EMI but much higher total interest.
Even one extra EMI a year can cut years off a home loan.
Move to a cheaper lender when the rate gap and remaining tenure justify fees.
Processing fee, insurance and GST raise the real cost — check the Key Fact Statement.
Fixed vs floating rate
| Fixed | Floating | |
|---|---|---|
| EMI | Stays the same | Changes with benchmark (repo) |
| Typical use | Personal, car, two-wheeler loans | Home loans, LAP |
| Prepayment charges | May apply | Not allowed for individuals (non-business) |
| Best when | Rates expected to rise | Rates stable or falling |
EMI calculator FAQs
Should I choose a 30-year tenure?
Only if cash flow needs it — a 30-year loan can cost ~60% more interest than a 20-year loan.
Can I reduce tenure later?
Yes, through prepayments or by increasing the EMI with the lender.
What is an EMI?
An Equated Monthly Instalment is the fixed monthly payment that repays a loan’s principal and interest over its tenure.
Is the calculator result exactly what my bank will charge?
It is a close estimate. Banks may use daily interest, broken-period interest for the first month and rounding; your sanction letter and repayment schedule are final.
Why is most of my early EMI going to interest?
Interest is charged on the outstanding balance, which is highest at the start. As principal falls, the interest part shrinks.
Should I reduce EMI or tenure after a prepayment?
Reducing tenure saves more interest; reducing EMI eases monthly cash flow.
What is APR?
The Annual Percentage Rate includes the processing fee and other charges, showing the true yearly cost. Lenders must disclose it in the Key Fact Statement.
What happens if I miss an EMI?
You pay penal charges and it is reported to credit bureaus, which can lower your credit score. Contact the lender early if you expect difficulty.
What is a flat interest rate?
Interest calculated on the original loan amount for the entire tenure. A 12% flat rate over 2 years is roughly a 21.6% reducing rate.
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Results are illustrations based on your inputs, not a loan offer. Rates shown are indicative 2026 market ranges; lenders price loans on your profile.