Estimate your monthly home loan EMI, total interest payable, and view the full amortization schedule.
Home loan EMI uses the same reducing-balance formula as any other amortizing loan:
EMI = P × r × (1 + r)n / [(1 + r)n − 1]
Because home loans run for long tenures (often 15-30 years) and involve large principal amounts, even small differences in interest rate make a substantial difference to your total interest cost — always compare the EMI and total payable across a few lenders before deciding.
Banks typically lend based on your repayment capacity, usually allowing your total EMIs (including the new home loan) to not exceed 40-50% of your monthly income. Use our Loan Eligibility Calculator for a more precise estimate.
Home loans in India typically range from 10 to 30 years. A longer tenure reduces your monthly EMI but increases the total interest paid over the life of the loan.
Yes. Under the old tax regime, you can claim deductions on principal repayment under Section 80C (up to ₹1.5 lakh) and on interest paid under Section 24(b) (up to ₹2 lakh for a self-occupied property), subject to conditions.
Most home loans in India are offered at floating rates linked to an external benchmark (like the repo rate), meaning your EMI or tenure can change when the bank revises rates. Fixed-rate home loans exist but are less common and usually cost more.
Beyond EMI, budget for processing fees (usually 0.5-1% of the loan amount), stamp duty and registration charges, property insurance, and a margin/down payment — banks typically finance up to 75-90% of the property value, not the full amount.
Buying a home is most people's largest financial commitment, and the EMI you'll pay over 15-30 years depends heavily on the loan amount, interest rate, and tenure you choose. This calculator helps you see exactly how those three factors interact before you approach a bank.
Use the year-wise amortization schedule to understand how much of your early EMIs go toward interest versus principal — in the first few years of a long-tenure home loan, the majority of each payment is interest. As the loan matures, more of each EMI chips away at the principal.
Before finalizing a home loan, also check our Loan Eligibility Calculator to see how much you can realistically borrow, and our Loan Prepayment Calculator to see how much you'd save by making extra payments.
