🏡 Home Loan EMI Calculator

Planning Your Home Loan

A home loan is usually the largest and longest loan a person takes, so small differences in rate or tenure translate into lakhs of rupees. This calculator shows your monthly EMI, total interest and total repayment based on the loan amount, interest rate and tenure you enter — helping you plan before you approach a bank.

Home loan EMIs use the same reducing-balance formula as any loan: EMI = P × r × (1+r)^n ÷ [(1+r)^n − 1]. Because tenures are long (often 15–30 years), the interest portion can rival or exceed the principal, which is why the down payment, tenure and rate you choose matter so much.

For example, a ₹40 lakh loan at 8.5% over 20 years has an EMI of about ₹34,713 and total interest of roughly ₹43 lakh. Shortening the tenure to 15 years raises the EMI but cuts total interest by around ₹12 lakh. Use the calculator to test different combinations before committing.

Key points to remember

• A larger down payment reduces interest on every EMI.
• For floating-rate home loans, individuals face no prepayment penalty.
• A CIBIL score above 750 helps you get the best rate.

Frequently asked questions

Lenders typically approve an EMI up to about 40–50% of your monthly income, subject to property value and credit score.

If your loan rate is higher than your likely post-tax investment return, prepaying usually wins — and it is risk-free.