Home Loan EMI Calculator

A common guide is to keep all your EMIs together within about 30% to 40% of your take-home pay, so you still have room for living costs, savings and emergencies. Lenders run their own checks on your income and existing loans, so the amount they offer may be different. Use the calculator to find an EMI you're comfortable with, then work back to the loan amount.

A longer tenure lowers your EMI but adds a lot of interest. On a ₹50 lakh loan at 8.5%, a 15-year tenure means an EMI of ₹49,237 and about ₹38.6 lakhs in interest. Stretching it to 25 years brings the EMI down to ₹40,261, but the interest climbs to about ₹70.8 lakhs. A common approach is to choose the shortest tenure whose EMI you can comfortably afford.

Interest is charged each month on what you still owe, and at the start you owe almost the whole loan. So in the early years most of each EMI covers interest, and only a small part reduces the loan. On a ₹50 lakh loan at 8.5% over 20 years, about 80% of what you pay in the first full year is interest. As the balance falls, more of each EMI goes towards the loan itself.

Quite a lot, because every extra rupee comes straight off what you owe and stops attracting interest. On a ₹50 lakh loan at 8.5% over 20 years, paying ₹5,000 extra a month clears the loan about 4½ years early and saves about ₹13.9 lakhs in interest. Try different amounts in the extra payment field to see the effect.

Reducing the tenure saves more interest, because the loan is cleared sooner. Reducing the EMI eases your monthly budget but saves less. This calculator keeps the EMI the same and shortens the loan. Most lenders let you choose when you prepay, so ask which option they'll apply.

For floating-rate home loans taken by individuals, lenders in India generally can't charge prepayment or foreclosure penalties. Fixed-rate loans and some other cases may carry charges. Check your loan agreement or ask your lender before you prepay.

The calculator assumes a fixed rate for the whole loan, but most home loans in India are floating-rate and move with a benchmark set by the lender. When the rate goes up, lenders often extend the tenure rather than raise the EMI, which can add a lot of interest. If your rate changes, re-run the calculator with the new rate and what you still owe to see the effect.

Small differences are normal. Lenders may round differently, charge interest for the days between the loan being paid out and your first EMI, or add processing fees or insurance to the loan. A change in a floating rate will also change the figures. The calculator uses the standard EMI formula, so it should be close to what your lender quotes.

Yes. Set the first EMI to the month your EMIs began, and the schedule will show where you stand today and what's still owed. If your rate has changed since you started, enter what you still owe, the current rate and the remaining tenure instead, with the first EMI set to next month.

There can be deductions on the interest and on the principal you repay, depending on whether the home is self-occupied or let out and which tax regime you choose. The calculator doesn't include tax benefits, so check the current rules or speak to a tax adviser.

No. The calculator covers the loan amount and interest only. Processing fees, legal and valuation charges, and any home or loan insurance are extra, and if they're added to the loan, your EMI will be a little higher.

The EMI formula is the same for any loan repaid in equal monthly instalments, so the figures hold. Our general loan calculator (opens in new tab) starts from a smaller amount and a shorter tenure, which suits a personal, car, education or gold loan better.

Our loan EMI calculator covers personal, car and other loans

No. Nothing you enter in this home loan EMI calculator is stored.