Home Loan EMI Calculator
A home loan is the biggest financial commitment most families make. Even a 0.25% difference in interest rate over 20 years can mean lakhs saved. Use this calculator to model every scenario before you sign on the dotted line.
Home Loan
Home Loan EMI Calculator
Calculate your home loan EMI, total interest outgo, and year-by-year repayment schedule. Plan your home purchase with clarity.
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Enter your loan details
₹
5.0L10.0Cr
%
6.5%14%
Months
1y30y
Your Monthly EMI
₹44,186
payable every month
Principal · 47%Total Interest · 53%
- Total Interest
- ₹56,04,529
- Total Payment
- ₹1,06,04,529
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Compare EMI by tenure
8.75% p.a. · ₹50,00,0005y
₹1,03,186
₹11,91,170 int.
10y
₹62,663
₹25,19,605 int.
15y
₹49,972
₹39,95,038 int.
20y
₹44,186
₹56,04,529 int.
25y
₹41,107
₹73,32,155 int.
30y
₹39,335
₹91,60,607 int.
Tap a row to load it into the calculator
Year-by-Year Repayment Schedule
20 years
Year-by-Year Repayment Schedule
20 years
| Year | Principal Paid | Interest Paid | Total Paid | Balance |
|---|---|---|---|---|
| 1 | ₹96,537 | ₹4,33,689 | ₹5,30,226 | ₹49,03,463 |
| 2 | ₹1,05,331 | ₹4,24,895 | ₹5,30,226 | ₹47,98,132 |
| 3 | ₹1,14,926 | ₹4,15,300 | ₹5,30,226 | ₹46,83,205 |
| 4 | ₹1,25,396 | ₹4,04,831 | ₹5,30,226 | ₹45,57,810 |
| 5 | ₹1,36,819 | ₹3,93,408 | ₹5,30,226 | ₹44,20,991 |
| 6 | ₹1,49,282 | ₹3,80,944 | ₹5,30,226 | ₹42,71,708 |
| 7 | ₹1,62,881 | ₹3,67,345 | ₹5,30,226 | ₹41,08,827 |
| 8 | ₹1,77,719 | ₹3,52,507 | ₹5,30,226 | ₹39,31,108 |
| 9 | ₹1,93,909 | ₹3,36,318 | ₹5,30,226 | ₹37,37,199 |
| 10 | ₹2,11,573 | ₹3,18,654 | ₹5,30,226 | ₹35,25,626 |
| 11 | ₹2,30,846 | ₹2,99,380 | ₹5,30,226 | ₹32,94,780 |
| 12 | ₹2,51,876 | ₹2,78,351 | ₹5,30,226 | ₹30,42,904 |
| 13 | ₹2,74,820 | ₹2,55,406 | ₹5,30,226 | ₹27,68,084 |
| 14 | ₹2,99,855 | ₹2,30,371 | ₹5,30,226 | ₹24,68,228 |
| 15 | ₹3,27,171 | ₹2,03,056 | ₹5,30,226 | ₹21,41,057 |
| 16 | ₹3,56,975 | ₹1,73,252 | ₹5,30,226 | ₹17,84,083 |
| 17 | ₹3,89,494 | ₹1,40,733 | ₹5,30,226 | ₹13,94,589 |
| 18 | ₹4,24,975 | ₹1,05,252 | ₹5,30,226 | ₹9,69,614 |
| 19 | ₹4,63,688 | ₹66,538 | ₹5,30,226 | ₹5,05,926 |
| 20 | ₹5,05,929 | ₹24,298 | ₹5,30,226 | ₹0 |
How is Home Loan EMI calculated?
Home loans use the same reducing-balance EMI formula: EMI = P × r × (1+r)^n / ((1+r)^n − 1). Lenders in India calculate interest monthly on the outstanding principal.
Fixed vs floating interest
Floating rates (linked to the RBI repo rate) usually start 0.25–0.75% lower than fixed, but change with the market. Fixed rates give predictability for 2–5 years, after which they re-price.
Tax benefits you can claim
Under Section 80C, principal repayment up to ₹1.5 lakh/year is deductible. Under Section 24(b), interest paid up to ₹2 lakh/year on a self-occupied home is deductible.
How much EMI can I afford?
Banks typically allow EMI up to 40–50% of your net monthly income (FOIR). Use our Eligibility Calculator to find your maximum loan amount based on your income.
Frequently Asked Questions
What is the maximum home loan I can get?
Banks fund up to 75–90% of the property value (LTV ratio). Your eligible amount depends on income, credit score, co-applicant income, and existing obligations.
What tenure should I choose for my home loan?
Home loans run up to 30 years. Longer tenure means a lower EMI but more total interest. If possible, target a tenure where EMI is 35–40% of your income.
Should I prepay my home loan?
Partial prepayments in the first 7 years save the most interest. RBI rules prohibit foreclosure charges on floating-rate home loans to individual borrowers.
Can I transfer my existing home loan for a better rate?
Yes — balance transfer (BT) moves your loan to a lender offering a lower rate. If the new rate is 0.5%+ lower and your remaining tenure is 7+ years, it's almost always worth it.
What documents do I need?
Identity + address proof, income documents (3 months salary slips, 6 months bank statements, Form 16 or ITR for 2 years), property papers, and a processing fee.
Are joint home loans advisable?
Yes — adding a co-applicant (typically spouse) increases eligibility and lets both claim tax benefits independently. Both must be co-owners of the property for tax claims.
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