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Home Loan EMI Calculator

Planning a home in India? Get your exact EMI, total interest payable and the full amortisation schedule in seconds.

Monthly EMI
₹8,997.00
Total interest
₹11,59,342.00
Total payable
₹21,59,342.00
Processing fee
₹0.00
Interest saved with prepayment
₹0.00
Payoff tenure with prepayment (yrs)
20

Year-by-year amortization schedule

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How every yearly payment splits between principal and interest, and what you still owe at each year-end.

YearPaymentPrincipalInterestBalance
1₹1,07,967.11₹18,727.10₹89,240.01₹9,81,272.90
2₹1,07,967.11₹20,483.83₹87,483.28₹9,60,789.06
3₹1,07,967.11₹22,405.36₹85,561.76₹9,38,383.70

17 more years in the full schedule.

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Principal vs interest, year by year

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Watch the balance shift: early years are mostly interest, later years mostly principal.

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Compare two scenarios

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Your loan against a popular alternative — same math, side by side.

Your loan yours

₹8,997.26

Monthly payment

Monthly payment₹8,997.26
Total interest₹11,59,342.29
Total of payments₹21,59,342.20

5 years shorter

₹10,142.67

Monthly payment

Monthly payment₹10,142.67
Total interest₹8,25,679.84
Total of payments₹18,25,679.85

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A home loan is usually the largest EMI an Indian household ever pays, and small differences in interest rate or tenure change the total cost by lakhs. This home loan EMI calculator gives you the exact equated monthly instalment for any loan amount, interest rate and tenure, plus the total interest you will pay over the life of the loan and a complete amortisation schedule showing the principal–interest split of every EMI. Use it to compare offers from HDFC Bank, SBI, ICICI and others on equal terms, to decide between a 20-year and 25-year tenure, or to see how a part-prepayment today shrinks tomorrow's interest.

The EMI formula

EMI = P × r × (1+r)n / ((1+r)n − 1)P = loan amount, r = monthly rate, n = months

Example

₹50,00,000 at 8.5% for 20 years. EMI ≈ ₹43,391. Total interest ≈ ₹54,13,800 — more than the loan itself. A part-prepayment of ₹5,00,000 in year 3 cuts total interest by roughly ₹11 lakh and shortens the loan by over 3 years.

Indian home loan rates

Most Indian home loans are floating rate, linked to the bank's repo-linked lending rate (RLLR). Rates for salaried borrowers with good credit typically run 8.35%–9.5% (2025–26). Floating rates fall when the RBI cuts the repo rate — but check the reset clause and spread your bank applies over the benchmark.

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Frequently asked questions

How is home loan EMI calculated in India?

With the standard EMI formula on the reducing balance: EMI = P × r × (1+r)^n / ((1+r)^n − 1), where r is the monthly interest rate and n the number of months.

What is a good home loan interest rate in India?

For salaried borrowers with strong credit, 8.35%–9% is competitive currently. Even 0.25% matters — on a ₹50 lakh loan it changes total interest by over ₹1.5 lakh.

Should I choose a 20-year or 30-year home loan?

A longer tenure lowers the EMI but hugely raises total interest. Choose the shortest tenure whose EMI fits comfortably (under ~40% of take-home), and prepay when you can.

Does part-prepayment reduce EMI or tenure?

You choose. Reducing tenure saves far more interest; reducing EMI eases monthly pressure. Most banks allow it free on floating-rate loans.

What is the tax benefit on home loans?

Principal repayment up to ₹1.5 lakh under 80C, and interest up to ₹2 lakh per year under Section 24(b) for a self-occupied house (old regime).

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