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FinCalc India

Home Loan EMI Calculator

A home loan is usually the largest and longest loan a household takes, so a small change in rate or tenure moves lakhs of rupees of interest.

Enter the loan amount, rate and tenure to see the EMI, total interest and a year-wise schedule of how your outstanding balance falls.

Assumptions used
  • Reducing-balance interest at a constant rate.
  • Stamp duty, registration, insurance and GST on fees are not included.

Enter your details

₹
1,00,00020,00,00,000

Sanctioned loan amount, after your down payment.

%
515
years
130
%
03

Results

Monthly EMI

₹43,391

Total Interest
₹54,13,879
Total Repayment
₹1,04,13,879
Processing Fee
₹25,000
Total Cost of Loan
₹1,04,38,879
  • Principal₹50.00 L(48%)
  • Interest₹54.14 L(52%)
Year-wise amortisation schedule (20 rows)
YearPrincipal PaidInterest PaidTotal PaidBalance
1₹99,511₹4,21,182₹5,20,694₹49,00,489
2₹1,08,307₹4,12,387₹5,20,694₹47,92,181
3₹1,17,881₹4,02,813₹5,20,694₹46,74,300
4₹1,28,300₹3,92,394₹5,20,694₹45,46,000
5₹1,39,641₹3,81,053₹5,20,694₹44,06,359
6₹1,51,984₹3,68,710₹5,20,694₹42,54,375
7₹1,65,418₹3,55,276₹5,20,694₹40,88,957
8₹1,80,039₹3,40,655₹5,20,694₹39,08,918
9₹1,95,953₹3,24,741₹5,20,694₹37,12,965
10₹2,13,274₹3,07,420₹5,20,694₹34,99,691
11₹2,32,125₹2,88,569₹5,20,694₹32,67,566
12₹2,52,643₹2,68,051₹5,20,694₹30,14,923
13₹2,74,974₹2,45,720₹5,20,694₹27,39,949
14₹2,99,279₹2,21,415₹5,20,694₹24,40,670
15₹3,25,733₹1,94,961₹5,20,694₹21,14,937
16₹3,54,525₹1,66,169₹5,20,694₹17,60,412
17₹3,85,862₹1,34,832₹5,20,694₹13,74,550
18₹4,19,968₹1,00,726₹5,20,694₹9,54,582
19₹4,57,090₹63,604₹5,20,694₹4,97,492
20₹4,97,492₹23,202₹5,20,694₹0

Values are aggregated per year; the final row may be a partial year.

How home loan EMI is calculated

Banks use the monthly reducing-balance method. For the first several years most of each EMI is interest; the crossover to a principal-heavy EMI happens roughly past the midpoint of a 20-year loan.

EMI = P × r × (1 + r)^n ÷ [ (1 + r)^n − 1 ]

  • P = sanctioned loan amount
  • r = annual rate ÷ 1200
  • n = tenure in months

Loan-to-value and down payment

Lenders in India typically fund up to 75–90% of the property value depending on the loan size; you fund the rest plus stamp duty and registration. A larger down payment means a smaller loan and much less total interest.

Tax benefits on a home loan

  • Interest: deduction on the interest paid on a self-occupied house is available under the Income Tax Act, subject to the annual cap and the regime you choose.
  • Principal: repayment of principal can qualify under Section 80C, within the overall 80C limit, under the old regime.
  • Rules and limits change with each Budget — confirm the current year's provisions before relying on them.

Prepayment on a home loan

Floating-rate home loans to individuals generally have no prepayment charge. Because the loan is long, prepaying even one or two EMIs a year in the early phase can cut the tenure by years and save substantial interest.

This calculator is for education and illustration only. Results are estimates based on the inputs and assumptions shown and are not financial, investment, tax or legal advice. Verify figures with your bank, a registered adviser or the relevant government department before acting.

Frequently asked questions

What tenure should I choose for a home loan?

Pick the shortest tenure whose EMI stays comfortably within about 35–40% of your take-home pay. A shorter tenure sharply reduces total interest, but keep an emergency buffer.

Does a lower interest rate always mean a cheaper loan?

Usually, but check the processing fee, legal and valuation charges, and whether the rate is an introductory teaser that resets higher later. Compare the total cost over the full tenure.

Should I prepay the home loan or invest the surplus?

Compare your loan's after-tax interest rate with the after-tax return you realistically expect from investing. Prepaying is a guaranteed, risk-free saving equal to the loan rate.

What happens to my EMI when the RBI changes rates?

On a repo-linked home loan the rate resets on the next reset date. Lenders usually keep the EMI unchanged and lengthen or shorten the tenure, but you can ask them to revise the EMI instead.

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