Home Loan EMI Calculator
Work out your monthly EMI, the interest you will pay over the life of the loan, and how a part payment or a shorter tenure changes both. Add your income to see the loan and property budget banks are likely to offer.
Loan details
Move the sliders to see how rate and tenure change your EMI and total interest.
Plan a prepayment
Check how much I can borrow
Get your detailed PDF report, free
A personalised, print-ready report you can share with family, your bank or your CA.
- Year-by-year repayment schedule
- Prepayment savings and loan eligibility
- Tax and tenure tips that cut interest
Year by year repayment
Interest is front-loaded: in the early years most of your EMI goes to interest. The full schedule is in your PDF report.
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹99,511 | ₹4,21,182 | ₹49,00,489 |
| 2 | ₹1,08,307 | ₹4,12,387 | ₹47,92,181 |
| 3 | ₹1,17,881 | ₹4,02,813 | ₹46,74,300 |
| 4 | ₹1,28,300 | ₹3,92,394 | ₹45,46,000 |
| 5 | ₹1,39,641 | ₹3,81,053 | ₹44,06,359 |
| 6 | ₹1,51,984 | ₹3,68,710 | ₹42,54,375 |
| 7 | ₹1,65,418 | ₹3,55,276 | ₹40,88,957 |
| 8 | ₹1,80,039 | ₹3,40,655 | ₹39,08,918 |
| 9 | ₹1,95,953 | ₹3,24,741 | ₹37,12,965 |
| 10 | ₹2,13,274 | ₹3,07,420 | ₹34,99,691 |
Showing the first 10 of 20 years.
EMI formula
EMI = P × r × (1 + r)n / ((1 + r)n − 1), where P is the loan, r the monthly interest rate and n the number of months. On ₹50 Lakh at 8.5% for 20 years, the EMI is ₹43,391 and you repay ₹1.04 Cr in all, of which ₹54.14 Lakh is interest.
EMI table by loan amount and tenure (@ 8.5%)
| Loan | 10 yrs | 15 yrs | 20 yrs | 25 yrs | 30 yrs |
|---|---|---|---|---|---|
| ₹20 Lakh | ₹24,797 | ₹19,695 | ₹17,356 | ₹16,105 | ₹15,378 |
| ₹30 Lakh | ₹37,196 | ₹29,542 | ₹26,035 | ₹24,157 | ₹23,067 |
| ₹40 Lakh | ₹49,594 | ₹39,390 | ₹34,713 | ₹32,209 | ₹30,757 |
| ₹50 Lakh | ₹61,993 | ₹49,237 | ₹43,391 | ₹40,261 | ₹38,446 |
| ₹75 Lakh | ₹92,989 | ₹73,855 | ₹65,087 | ₹60,392 | ₹57,669 |
| ₹1 Cr | ₹1,23,986 | ₹98,474 | ₹86,782 | ₹80,523 | ₹76,891 |
Rates differ by bank and credit profile. Change the rate in the calculator above to see your exact EMI.
How a 0.5% rate change moves your EMI (₹50 lakh, 20 years)
| Interest rate | EMI | Total interest |
|---|---|---|
| 7.50% | ₹40,280 | ₹46,67,118 |
| 8.00% | ₹41,822 | ₹50,37,281 |
| 8.50% | ₹43,391 | ₹54,13,879 |
| 9.00% | ₹44,986 | ₹57,96,711 |
| 9.50% | ₹46,607 | ₹61,85,574 |
How tenure changes EMI and interest
For a ₹50 Lakh loan at 8.5%:
| Tenure | EMI | Total interest |
|---|---|---|
| 10 years | ₹61,993 | ₹24,39,141 |
| 15 years | ₹49,237 | ₹38,62,656 |
| 20 years | ₹43,391 | ₹54,13,879 |
| 25 years | ₹40,261 | ₹70,78,406 |
| 30 years | ₹38,446 | ₹88,40,443 |
A longer tenure lowers the EMI but the interest bill climbs steeply. Many buyers take a long tenure for eligibility and then prepay whenever they can.
What a part payment saves
Paying an extra ₹5 Lakh at the end of year 3 on the same loan saves ₹13,19,639 in interest and closes the loan 3 years 5 months early, with the EMI unchanged. Floating-rate home loans taken by individuals carry no prepayment penalty, so bonuses and windfalls go furthest here.
How much home loan can I get?
Banks usually let total EMIs take up about 50% of your net monthly income (the FOIR). With a take-home of ₹1 lakh and no other loans, that is an EMI of about ₹50,000, which supports a loan of roughly ₹57.62 Lakh over 20 years at 8.5%. With the bank funding 80% of the price, your property budget is about ₹72.02 Lakh. Actual sanction depends on your credit score, age, employer and the property.
Tax benefits on a home loan
- Principal repayment qualifies under Section 80C (within its overall limit) under the old tax regime.
- Interest on a self-occupied home is deductible up to ₹2 lakh a year under Section 24(b) under the old regime.
- Co-borrowers who are co-owners can each claim their share, which helps couples buying together.
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Frequently Asked Questions
What is the EMI for a ₹50 lakh home loan?
At 8.5% for 20 years the EMI is about ₹43,391. Over the full tenure you pay about ₹54.14 Lakh in interest.
Is it better to reduce EMI or tenure after a prepayment?
Reducing the tenure saves more interest. Keeping the EMI the same and letting the loan close early is usually the better choice if the EMI is comfortable.
How is home loan eligibility calculated?
Banks cap total EMIs at roughly 50% of net monthly income (FOIR), then work out the loan that EMI supports at the current rate and tenure. They also fund only up to 75 to 90% of the property value depending on the loan size.
Does the EMI include stamp duty and registration?
No. Banks fund the property price, not stamp duty, registration or MODT. Budget for these separately using our total cost calculator.
Is there a penalty for prepaying a home loan?
Not on floating-rate home loans taken by individuals. Fixed-rate loans may carry a charge, so check your sanction letter.
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