Home Loan EMI Calculator
Calculate your home loan EMI, total interest and full amortization schedule.
Last updated: August 2026
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.
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?
As of August 2026 the floor rates are: SBI 7.25% p.a. (w.e.f. 01.04.2026), HDFC 7.75% p.a. and ICICI 7.50% p.a., with RBI repo at 5.25%. Your actual rate depends on your credit score, loan amount and tenure.
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.