Home Loan EMI Calculator
Calculate your home loan EMI, total interest and amortization schedule. Compare tenures and see principal vs interest breakdown.
Bank starting rates as of August 2026. Your rate depends on your credit score, loan amount and tenure. This is an estimate — confirm the actual rate with your bank before applying.
Monthly EMI
₹43,391.16
Total payment
₹1,04,13,879
Total interest
₹54,13,879
Over 240 months
Year-wise breakdown (20 years)
| Year | Principal | Interest | Total paid |
|---|---|---|---|
| Year 1 | ₹99,511 | ₹4,21,182 | ₹5,20,694 |
| Year 2 | ₹1,08,307 | ₹4,12,387 | ₹5,20,694 |
| Year 3 | ₹1,17,881 | ₹4,02,813 | ₹5,20,694 |
| Year 4 | ₹1,28,300 | ₹3,92,394 | ₹5,20,694 |
| Year 5 | ₹1,39,641 | ₹3,81,053 | ₹5,20,694 |
| Year 6 | ₹1,51,984 | ₹3,68,710 | ₹5,20,694 |
| Year 7 | ₹1,65,418 | ₹3,55,276 | ₹5,20,694 |
| Year 8 | ₹1,80,039 | ₹3,40,655 | ₹5,20,694 |
| Year 9 | ₹1,95,953 | ₹3,24,741 | ₹5,20,694 |
| Year 10 | ₹2,13,274 | ₹3,07,420 | ₹5,20,694 |
| Year 11 | ₹2,32,125 | ₹2,88,569 | ₹5,20,694 |
| Year 12 | ₹2,52,643 | ₹2,68,051 | ₹5,20,694 |
| Year 13 | ₹2,74,974 | ₹2,45,720 | ₹5,20,694 |
| Year 14 | ₹2,99,279 | ₹2,21,415 | ₹5,20,694 |
| Year 15 | ₹3,25,733 | ₹1,94,961 | ₹5,20,694 |
| Year 16 | ₹3,54,525 | ₹1,66,169 | ₹5,20,694 |
| Year 17 | ₹3,85,862 | ₹1,34,832 | ₹5,20,694 |
| Year 18 | ₹4,19,968 | ₹1,00,726 | ₹5,20,694 |
| Year 19 | ₹4,57,090 | ₹63,604 | ₹5,20,694 |
| Year 20 | ₹4,97,492 | ₹23,202 | ₹5,20,694 |
How it works
EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where r = annual rate ÷ 12, n = years × 12.
Example: ₹50,00,000 at 8.5% for 20 years → ₹43,391/month, ₹54,13,879 total interest.
Last updated: September 2026
How this calculator is verified
Checked by Rahim Virani on
- EMI formula cross-checked with the standard reducing-balance amortisation schedule
- Zero interest rate returns principal/tenure without dividing by zero
- Tenure and rate are clamped to ranges that keep monthly EMI under total payable
The full verification method is on our how we verify page. Found an error? Tell us and we will re-check it.
When to Use This Calculator
The home loan EMI calculator is the first thing every Indian home buyer opens before visiting a bank, because the EMI decides what you can afford. Enter the loan amount, interest rate and tenure to see the monthly payment, total interest and full repayment picture — and compare tenures side by side to see how a 20-year loan saves lakhs in interest over 30 years. It is equally useful when a bank offers a different rate than the quoted one, when planning prepayments, or when checking whether a home loan balance transfer actually lowers your outflow. With rates changing and SBI, HDFC and ICICI all quoting different numbers, this tool keeps the comparison honest before you commit to a property.
How to Use This Calculator
- Step 1: Enter the loan amount you plan to borrow, which is the property price minus your down payment.
- Step 2: Enter the annual interest rate your bank quoted, such as 8.5 for 8.5 percent.
- Step 3: Choose the tenure in years, and move the slider to see how the EMI changes for different tenures.
- Step 4: Read the monthly EMI, the total interest and the amortization schedule, which splits every instalment into principal and interest.
Worked Example
A buyer in Pune borrows ₹50,00,000 at 8.5% per year for 20 years. Enter 5000000 as the loan amount, 8.5 as the rate and 20 as the tenure. The calculator returns a monthly EMI of about ₹43,391. Over 240 instalments the total repayment is about ₹1,04,13,879, of which roughly ₹54,13,879 is interest. Extend the tenure to 25 years and the EMI falls noticeably, but the total interest grows, so compare several tenures before fixing one.
Tips and Common Mistakes
- •Tip 1: Compare the total interest across tenures, not just the EMI, because a longer tenure always costs more interest overall.
- •Tip 2: In India, home loan rates are usually linked to the RBI repo rate or a bank's MCLR, so the rate can reset during your tenure; leave headroom for rate rises.
- •Tip 3: Use the principal-versus-interest breakdown to see that early EMIs pay mostly interest, which makes prepayment early in the term more valuable.
- ✗Mistake 1: Entering the rate as a decimal such as 0.085 when the field expects a whole number like 8.5.
- ✗Mistake 2: Including the down payment in the loan amount, since the calculator assumes you borrow exactly what you enter.
How ₹1 Lakh Additional Repayment Cuts Your Tenure
| Item | Value |
|---|---|
| Original loan | ₹50,00,000 at 8.5% over 20 years |
| EMI on that loan | About ₹43,391 per month |
| Total interest paid | About ₹54,13,820 |
| Total interest after one ₹1 Lakh prepayment | About ₹49,94,900 |
| Interest saved by prepaying in year one | Roughly ₹4,19,000 |
What this figure assumes
Assumes a fixed-rate loan on a reducing balance, with the rate held constant for the whole tenure. A floating-rate loan is priced off the benchmark and will change over time, so the total interest here is a floor rather than a guarantee. Processing fees, stamp duty and prepayment penalties are excluded.
Rates and rules checked as of August 2026. These change with government notification — confirm against the linked source before you rely on the result.
Sources and References
- •Reserve Bank of India - housing loan interest rates and norms
- •RBI Master Direction on housing loans: tenure and prepayment terms
Official sources are linked so you can confirm the current rate yourself. Check the linked page for the latest notification before relying on these figures.
Frequently Asked Questions
What is EMI?
EMI stands for Equated Monthly Instalment — the fixed amount you pay the bank every month, covering both principal and interest on your home loan.
How is home loan EMI calculated?
EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12) and n is the number of months. Early payments are mostly interest; later payments are mostly principal.
What is the current home loan interest rate in India?
The preset rates are illustrative, date-stamped starting points rather than a quote. Your actual rate depends on your credit score, loan amount, tenure, lender and whether the loan is fixed or floating, so confirm the current offer directly with the bank.
Should I choose a longer or shorter tenure?
A longer tenure gives a lower monthly EMI but much higher total interest. A shorter tenure raises the EMI but sharply cuts total interest. Compare both here before deciding.
What happens if I prepay my home loan?
Prepaying reduces the outstanding principal and the total interest you pay. Most banks charge no prepayment penalty on floating-rate loans. Check your loan agreement for the exact terms.
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