🏠 Home Loan
Home Loan EMI Calculator
Your Monthly EMI
₹44,986
for 240 months
- Total Interest
- ₹57,96,711
- Total Payment
- ₹1,07,96,711
- Principal + Interest
Break-up of Total Payment
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Principal vs Interest Paid Each Year
EMI payments starting from …
EMI Payment Schedule
Tap a year to see its month-by-month breakdown.
| Year | Principal (A) | Interest (B) | Total Payment (A + B) | Balance | Loan Paid To Date |
|---|
What If the Interest Rate Changes?
Floating-rate loans move with RBI policy. See how your EMI shifts if the rate falls or rises by up to 2%.
7%
₹38,765
−₹6,221 / month
Interest: ₹43,03,587
8%
₹41,822
−₹3,164 / month
Interest: ₹50,37,281
9% · current
₹44,986
per month
Interest: ₹57,96,711
10%
₹48,251
+₹3,265 / month
Interest: ₹65,80,260
11%
₹51,609
+₹6,623 / month
Interest: ₹73,86,261
What is EMI?
An Equated Monthly Instalment (EMI) is the fixed amount you pay your lender every month until your loan is fully repaid. Each EMI has two parts: interest on the balance still outstanding, and a portion that reduces the principal. Because interest is charged on the outstanding balance, it takes up most of the EMI in the early months. As the balance falls, the interest part shrinks and more of each EMI goes towards the principal — even though the EMI itself never changes.
Planning to buy or build a house? Find out what your monthly home loan EMI will be, how much interest you'll pay over 15, 20 or 30 years, and how quickly the outstanding balance falls — before you sign with a lender.
EMI Formula
E = P × r × (1 + r)n ÷ [(1 + r)n − 1]
- E — EMI (monthly instalment)
- P — principal loan amount
- r — monthly interest rate = annual rate ÷ 12 ÷ 100 (10.5% p.a. → 0.00875)
- n — loan tenure in months
Example: borrow ₹10,00,000 at 10.5% a year for 10 years (120 months). EMI = 10,00,000 × 0.00875 × (1.00875)120 ÷ [(1.00875)120 − 1] = ₹13,493. Over 120 months you pay ₹16,19,220 in total, of which ₹6,19,220 is interest. Doing this by hand for every combination of amount, rate and tenure is slow and error-prone — the calculator above does it instantly and also builds the full repayment schedule.
Home Loan EMI Example
Take a ₹30 lakh home loan at 8.5% for 20 years. The EMI works out to ₹26,035, and over 240 months you repay ₹62,48,327 — of which ₹32,48,327 is interest, more than the amount you borrowed.
Small changes make a big difference over long tenures. At 9.5% instead of 8.5%, the same loan costs ₹27,964 a month and ₹37,11,345 in interest — about ₹4.6 lakh more. Shortening the tenure to 15 years at 8.5% raises the EMI to ₹29,542 but cuts total interest to ₹23,17,594, saving over ₹9 lakh.
In the very first month of that 20-year loan, ₹21,250 of the EMI goes to interest and only ₹4,785 reduces the principal. That is why part-prepayments in the early years save the most interest.
How to Use This EMI Calculator
- 1Choose the loan type — Home, Personal or Car.
- 2Set the loan amount, annual interest rate and tenure with the sliders, or type exact values in the boxes. Switch tenure between years (Yr) and months (Mo).
- 3For car loans, pick EMI in arrears or EMI in advance.
- 4Read your monthly EMI, total interest and total payment, plus the principal-vs-interest break-up chart.
- 5Set the month of your first EMI and choose calendar-year or financial-year view to see the payment schedule. Tap any year to expand it month by month.
- 6Download the schedule as PDF or Excel, or share a link with all your numbers pre-filled.
Planning for Floating Rates
You decide the loan amount and tenure, but on a floating-rate loan the interest rate moves with RBI policy and your lender's benchmark. Before you commit, check two scenarios:
- Rates fall 1–3%: your EMI drops, or you can keep the same EMI and close the loan sooner.
- Rates rise 1–3%: could you still pay comfortably? On a long home loan, even a 2% rise noticeably increases the EMI for the rest of the tenure.
The “What If the Interest Rate Changes?” panel above shows both cases for your numbers. Plan for the worst case and treat the best case as a bonus.
Tips to Lower Your Home Loan Cost
- Make a larger down payment — every lakh you don't borrow saves interest for the full tenure.
- Choose the shortest tenure whose EMI you can comfortably pay; keep total EMIs within about 40–50% of take-home pay.
- Prepay a part of the principal whenever you get a bonus — most banks don't charge prepayment penalties on floating-rate home loans for individuals.
- Use the Financial Year view to estimate yearly interest and principal for income tax deductions.
Frequently Asked Questions
What tenure should I choose for a home loan?＋
A longer tenure lowers the EMI but increases the total interest substantially. Pick the shortest tenure that keeps your EMI affordable, and use prepayments later if your income grows. Lenders typically offer home loans for up to 30 years, subject to your age at maturity.
Does the home loan EMI change if the interest rate changes?＋
Most Indian home loans are floating-rate loans linked to an external benchmark such as the RBI repo rate. When the rate changes, the bank either revises your EMI or, more commonly, keeps the EMI and extends or shortens the tenure. Use the rate scenarios on this page to see the impact of a 1–2% change.
Does this home loan EMI calculator include taxes and insurance?＋
No. It calculates the principal and interest EMI only. Property tax, home insurance, processing fees and stamp duty are separate costs you should budget for alongside the EMI.
Why is most of my early home loan EMI going to interest?＋
Interest each month is charged on the outstanding balance, which is highest at the start. As the balance falls, the interest portion shrinks and more of the same EMI goes towards principal. Open any year in the schedule above to see this month by month.
More Calculators
Figures are indicative and calculated using the standard reducing-balance method. Your lender's actual EMI, fees and schedule may differ. This page is for information only and is not financial advice.