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
How is home loan EMI calculated?
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.
What tax benefits does a home loan give?
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.
Should I choose a 20-year or 30-year home loan?
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.
How much home loan can I get on my salary?
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.
Is a fixed or floating home loan rate better?
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.
Does prepaying a home loan help?
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.