Home Loan EMI Calculator
Plan your home loan repayment with detailed EMI breakdown and amortization schedule.
Home Loan EMI Calculator – Plan Your House Purchase
Buying a home is India's most significant financial commitment. Before signing a home loan agreement, you must understand exactly how much you'll pay each month and how much total interest you'll give to the bank over the loan's lifetime. Small differences in interest rate or tenure translate to lakhs of rupees in savings or additional cost.
Our home loan EMI calculator provides instant, accurate results using the standard reducing-balance method used by all major Indian banks including SBI, HDFC, ICICI, and Axis Bank.
How to Use the Home Loan EMI Calculator
- Enter Loan Amount: Input the home loan amount you want to borrow (not the property price).
- Set Interest Rate: Enter the annual interest rate offered by your bank.
- Set Tenure: Choose the loan duration in years (5–30 years).
- Review Results: See monthly EMI, total interest payable, total repayment, and the balance timeline chart.
Impact of Tenure on EMI and Total Interest
| Loan: ₹50 Lakh @ 8.5% | EMI | Total Interest |
|---|---|---|
| 10 Years | ₹61,928 | ₹23.1 L |
| 20 Years | ₹43,391 | ₹54.1 L |
| 30 Years | ₹38,446 | ₹88.4 L |
A 30-year tenure costs ₹65 lakhs more in interest vs a 10-year tenure for the same loan amount.
Frequently Asked Questions
What is a home loan EMI?
A home loan EMI (Equated Monthly Installment) is a fixed monthly payment comprising both principal repayment and interest on your outstanding home loan balance.
How is home loan EMI calculated?
EMI = [P × R × (1+R)^N] / [(1+R)^N – 1], where P is the loan principal, R is the monthly interest rate (annual rate ÷ 12 ÷ 100), and N is the tenure in months.
What is a typical home loan interest rate in India?
As of 2025-26, SBI offers home loans starting at 8.50% p.a., HDFC at 8.70%+, and ICICI Bank at 8.75%+. Rates vary based on credit score, loan amount, and type (floating vs fixed).
What is the maximum home loan tenure?
Most Indian banks offer home loan tenures up to 30 years. A longer tenure reduces your EMI but significantly increases total interest outgo.
Does prepayment reduce EMI or tenure?
When you prepay part of the principal, banks typically let you choose: reduce the EMI keeping tenure constant, or reduce the tenure keeping EMI constant. Reducing tenure saves more interest.
What is an amortization schedule?
An amortization schedule shows each month's payment breakdown — how much goes to principal vs interest — and the remaining balance. In early years, most of the EMI is interest; later it shifts to principal.