Home Loan EMI Calculator

EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r is the monthly interest rate (the annual rate divided by 12 and by 100) and n is the number of months. A ₹50,00,000 loan at 8.5% over 20 years works out to an EMI of about ₹43,391.

Interest is charged on the balance outstanding, which is at its largest at the start. On a 20-year loan at 8.5%, roughly 82% of the first EMI is interest and only 18% reduces the principal. That flips gradually — by the final year almost the whole instalment is principal.

Usually more than people expect. A ₹50,00,000 loan at 8.5% over 20 years costs about ₹54,00,000 in interest — you repay more than double what you borrowed. The calculator states this as a percentage of the loan so it is not hidden in a large number.

Yes, and usually far more than people expect, because every rupee of part-payment removes all the future interest that rupee would have attracted. Paying an extra ₹5,000 a month on a ₹50,00,000 loan at 8.5% typically saves several years and well over ₹10,00,000 in interest.

Reducing the tenure saves considerably more interest, because you stop paying interest sooner. Reducing the EMI eases monthly cash flow but keeps the loan running to its original end date. The calculator shows both so you can see the difference in rupees.

As early as you can. A lump sum in year one removes far more future interest than the same amount in year ten, because the balance it reduces would otherwise have accrued interest for the whole remaining tenure.

For floating-rate home loans to individual borrowers, the RBI does not permit banks to charge a foreclosure or prepayment penalty. Fixed-rate loans can still carry one, so check your sanction letter before making a large payment.

An instalment that rises by a set percentage each year, on the assumption your income will too. A 5% annual step-up on a 20-year loan typically clears it several years early. It is only sensible if your income genuinely rises — the higher instalment is a commitment.

Lenders fund a percentage of the property value, so the rest is yours to find. As a rough guide the cap is about 90% for properties up to ₹30 lakh, 80% up to ₹75 lakh and 75% above that — meaning a 10% to 25% down payment, plus stamp duty and registration on top.

No, and this catches many first-time buyers. Stamp duty and registration are calculated on the property value and must be paid in cash from your own funds. In many states that is another 5% to 7% of the price on top of the down payment.

FOIR — fixed obligation to income ratio — is the share of your monthly income a lender will let go to all EMIs combined, commonly 40% to 55%. If you earn ₹1,50,000 a month at a 50% FOIR with no other loans, about ₹75,000 a month is available for EMI, which supports roughly ₹86 lakh over 20 years at 8.5%.

Enter your monthly income and any existing EMIs and the calculator estimates it from the FOIR. Treat it as indicative — lenders also weigh your credit score, employment stability, age at loan maturity and their own valuation of the property.

Under the old regime, Section 24(b) allows up to ₹2,00,000 a year of interest on a self-occupied home, and Section 80C up to ₹1,50,000 of principal — though 80C is shared with EPF, insurance and other items. Section 80EEA can add more interest relief for eligible first-time buyers.

Generally not for a self-occupied property — the new regime removes the Section 24(b) and 80C deductions, which is why the calculator shows zero saving when you select it. A let-out property is treated differently, so check your specific case with an advisor.

A longer tenure lowers the monthly instalment but costs substantially more overall. The same ₹50,00,000 at 8.5% costs about ₹22,00,000 in interest over 10 years and about ₹54,00,000 over 20. Pick the shortest tenure whose EMI you can comfortably sustain.

On a floating-rate loan, lenders usually keep the EMI the same and extend the tenure instead. That hides the impact — the loan quietly gets longer. Re-run this calculator at the new rate to see the real effect, and ask your lender to raise the EMI rather than the tenure if you can afford it.

No. Everything is calculated in your browser and your inputs are stored only in your own browser so the page remembers them next time. Nothing is uploaded, which matters given these are your income and property details.

Yes. The CSV export gives you every month with the instalment, the interest and principal split, any part-payment and the closing balance, ready to open in Excel or Google Sheets.

It will normally be very close, but lenders differ in how they treat the first broken period, the exact day interest is applied and whether insurance is bundled into the loan. Treat this as an accurate planning figure and your sanction letter as the final word.