Home loan EMI calculator
See the monthly EMI on your housing loan, the total interest over the full tenure, and a year-by-year repayment schedule. Compare tenures up to 30 years and find an EMI that fits your budget.
Loan details
Tweak the numbers - results update live
₹30L
Principal
amount borrowed
₹32.48L
Total interest
over the tenure
₹62.48L
Total payable
principal + interest
Principal vs interest
What you repay over 20 years
- Principal₹30L
- Interest₹32.48L
Year-by-year schedule
How the balance falls as you repay
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹59,711 | ₹2,52,709 | ₹29,40,289 |
| 2 | ₹64,989 | ₹2,47,431 | ₹28,75,301 |
| 3 | ₹70,733 | ₹2,41,687 | ₹28,04,568 |
| 4 | ₹76,985 | ₹2,35,435 | ₹27,27,583 |
| 5 | ₹83,790 | ₹2,28,630 | ₹26,43,793 |
Monthly EMI
₹26,035
Why it matters
The longest, largest loan you’ll take
A home loan is usually the biggest borrowing of your life, running 15–30 years. Over that span, interest compounds into a huge number - which is why the rate, tenure and any prepayment make such a dramatic difference to what you finally pay.
- 1
Rate is everything
Across 20–30 years, even a 0.5% lower rate can save several lakh in interest. Negotiate hard and compare lenders.
- 2
Tenure is a trade-off
Longer tenure → lower EMI but more total interest. Shorter tenure → higher EMI but big savings overall.
- 3
Claim the tax breaks
Old regime: up to ₹1.5L principal (80C) and ₹2L interest (24b) deductible each year on a self-occupied home.
- 4
Prepay early
Early EMIs are mostly interest. Prepaying in the first years cuts total interest the most.
Questions
Frequently asked
Home loan EMI uses the reducing-balance formula EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the sanctioned loan, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the tenure in months. Because home loans run for long tenures - often 15 to 30 years - the total interest can rival or exceed the principal, so even a small rate difference matters a lot.
Under the old tax regime, you can claim up to ₹1.5 lakh of principal repayment under Section 80C and up to ₹2 lakh of interest on a self-occupied house under Section 24(b) each year. The new regime does not allow these deductions. Factor your eligible deductions into our income tax calculator to see your real after-tax cost.
A 30-year tenure gives a lower EMI and better monthly cash flow, but you pay interest for a decade longer, so the total interest is substantially higher. A 20-year loan costs more per month but far less overall. Slide the tenure above to compare - and remember you can prepay later to shorten a long loan.
Lenders typically cap your total EMIs at around 40–50% of your net monthly income (the FOIR). They also fund up to 75–90% of the property value (the LTV), so you arrange the rest as a down payment. Enter the amount you expect to borrow above to see the EMI it implies, then check it against your income.
Most Indian home loans are floating-rate, linked to an external benchmark such as the repo rate, so your EMI or tenure changes when rates move. Fixed rates give certainty but usually start higher. This calculator assumes a constant rate - re-run it with the new rate whenever your lender revises it.
Yes, significantly. Because early EMIs are mostly interest, prepaying in the first years of a long home loan saves a large amount of total interest and shortens the tenure. Use our loan prepayment calculator to see exactly how much a one-time or recurring prepayment would save you.