Home loan EMI calculator
Enter your loan amount, interest rate and tenure to see your monthly EMI, the total interest you will pay, and how each year's payments split between principal and interest.
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Quick answer
A ₹50 lakh home loan at 8.5% for 20 years has an EMI of ₹43,391. You repay ₹1.04 Cr in total, of which ₹54.14 L is interest. Every ₹1 lakh borrowed at this rate costs ₹868 a month.
Work out your EMI.
Slide the amount, rate and tenure. Everything updates as you go.
Principal overtakes interest in year 13, and half the loan is repaid by year 14.
Amounts in ₹; ₹1,00,000 = ₹1 lakh.
Where your EMI goes, year by year
In the early years most of your EMI goes to interest. The principal share grows each year until it takes over. That is why prepaying early saves far more than prepaying late.
Principal vs interest
Paid each year of the loan, at the example amount, rate and tenure.
Home loan amortisation schedule
Yearly totals. The year you cross half the loan repaid is highlighted.
| Year | Principal | Interest | Total paid | Balance | Repaid |
|---|---|---|---|---|---|
| Year 1 | ₹99,511 | ₹4,21,182 | ₹5,20,694 | ₹49,00,489 | 2.0% |
| Year 2 | ₹1,08,307 | ₹4,12,387 | ₹5,20,694 | ₹47,92,181 | 4.2% |
| Year 3 | ₹1,17,881 | ₹4,02,813 | ₹5,20,694 | ₹46,74,300 | 6.5% |
| Year 4 | ₹1,28,300 | ₹3,92,394 | ₹5,20,694 | ₹45,46,000 | 9.1% |
| Year 5 | ₹1,39,641 | ₹3,81,053 | ₹5,20,694 | ₹44,06,359 | 11.9% |
| Year 6 | ₹1,51,984 | ₹3,68,710 | ₹5,20,694 | ₹42,54,375 | 14.9% |
| Year 7 | ₹1,65,418 | ₹3,55,276 | ₹5,20,694 | ₹40,88,957 | 18.2% |
| Year 8 | ₹1,80,039 | ₹3,40,655 | ₹5,20,694 | ₹39,08,918 | 21.8% |
| Year 9 | ₹1,95,953 | ₹3,24,741 | ₹5,20,694 | ₹37,12,965 | 25.7% |
| Year 10 | ₹2,13,274 | ₹3,07,420 | ₹5,20,694 | ₹34,99,691 | 30.0% |
| Year 11 | ₹2,32,125 | ₹2,88,569 | ₹5,20,694 | ₹32,67,566 | 34.6% |
| Year 12 | ₹2,52,643 | ₹2,68,051 | ₹5,20,694 | ₹30,14,923 | 39.7% |
| Year 13 | ₹2,74,974 | ₹2,45,720 | ₹5,20,694 | ₹27,39,949 | 45.2% |
| Year 14 | ₹2,99,279 | ₹2,21,415 | ₹5,20,694 | ₹24,40,670 | 51.2% |
| Year 15 | ₹3,25,733 | ₹1,94,961 | ₹5,20,694 | ₹21,14,937 | 57.7% |
| Year 16 | ₹3,54,525 | ₹1,66,169 | ₹5,20,694 | ₹17,60,412 | 64.8% |
| Year 17 | ₹3,85,862 | ₹1,34,832 | ₹5,20,694 | ₹13,74,550 | 72.5% |
| Year 18 | ₹4,19,968 | ₹1,00,726 | ₹5,20,694 | ₹9,54,582 | 80.9% |
| Year 19 | ₹4,57,090 | ₹63,604 | ₹5,20,694 | ₹4,97,492 | 90.1% |
| Year 20 | ₹4,97,492 | ₹23,202 | ₹5,20,694 | ₹0 | 100.0% |
EMI per ₹1 lakh home loan
A quick way to compare bank offers. Multiply by your loan in lakhs. The row nearest the example rate is highlighted.
| Rate | 10 yrs | 15 yrs | 20 yrs | 25 yrs | 30 yrs |
|---|---|---|---|---|---|
| 7.5% | ₹1,187 | ₹927 | ₹806 | ₹739 | ₹699 |
| 8% | ₹1,213 | ₹956 | ₹836 | ₹772 | ₹734 |
| 8.5% | ₹1,240 | ₹985 | ₹868 | ₹805 | ₹769 |
| 9% | ₹1,267 | ₹1,014 | ₹900 | ₹839 | ₹805 |
| 9.5% | ₹1,294 | ₹1,044 | ₹932 | ₹874 | ₹841 |
| 10% | ₹1,322 | ₹1,075 | ₹965 | ₹909 | ₹878 |
| 10.5% | ₹1,349 | ₹1,105 | ₹998 | ₹944 | ₹915 |
| 11% | ₹1,378 | ₹1,137 | ₹1,032 | ₹980 | ₹952 |
How to use this calculator
- Enter the loan amount. This is the property price minus your down payment, not the full property price.
- Set the interest rate your bank has quoted. Compare at least three lenders.
- Pick a tenure in years. Check the total interest before settling on the longest one.
- Read the schedule to see how much principal you will have repaid by any year.
The EMI formula
EMI
EMI = P x r x (1+r)^n / ((1+r)^n - 1)P = loan amount, r = annual rate / 12 / 100, n = tenure in months.
Total interest
Total interest = EMI x n - PWhat you pay over and above the amount borrowed, if you never prepay.
Questions buyers ask
How is home loan EMI calculated?
EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r is the monthly interest rate (annual rate / 12 / 100) and n is the number of monthly instalments. For a ₹50 lakh loan at 8.5% for 20 years, the EMI is ₹43,391 and the total interest is ₹54.14 L.
Should I pick a longer tenure for a lower EMI?
A longer tenure lowers the EMI but sharply raises total interest. On ₹50 lakh at 8.5%, going from 20 to 30 years cuts the EMI by about ₹4,945 a month but adds roughly ₹34.27 L in interest. A common approach is to take the longer tenure for eligibility and prepay whenever you can.
Is prepaying my home loan worth it?
Prepaying in the first few years saves the most, because that is when interest makes up most of each EMI. Floating-rate home loans taken by individuals carry no prepayment penalty in India.
Fixed or floating interest rate: which is better?
Most Indian home loans are floating and linked to an external benchmark such as the RBI repo rate, so your EMI or tenure moves when rates change. Fixed rates are usually higher and often reset after a few years, so read the reset clause before choosing.
Do I get tax benefits on a home loan?
Under the old tax regime, interest on a self-occupied home is deductible up to ₹2 lakh a year under Section 24(b) and principal up to ₹1.5 lakh under Section 80C. The new tax regime does not allow these deductions for a self-occupied home. Confirm with your tax advisor.
Why is the EMI from my bank slightly different?
Banks may charge pre-EMI interest during construction, round the rate, or start the first EMI mid-month. Use this calculator for planning and your sanction letter for the exact figure.
Results are indicative estimates for planning. Your lender's sanction letter is final. This is not financial or tax advice.