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About the Home Loan EMI Calculator
A home loan is the longest and largest debt most families take on, so small changes matter enormously. On a ₹50 lakh loan over 20 years, every 0.25% of interest is worth roughly ₹1.8 lakh.
Enter your loan amount, the rate your bank has quoted and the tenure. The calculator returns your EMI, the total interest across the life of the loan, and a year-wise schedule showing exactly how much you still owe at the end of each year — the number you need when you are planning a part-payment or a balance transfer.
The formula
Every bank and NBFC in India uses this reducing-balance formula. Interest is charged only on the outstanding balance, so the interest share of each EMI falls as the loan runs down while the principal share rises.
Things worth knowing
Frequently asked questions
Salaried borrowers with a credit score above 750 are typically offered the lender's floor rate. Anything meaningfully above the market floor is worth challenging — banks routinely reduce the spread for strong applicants rather than lose the file.
Most lenders cap total EMIs at 50–60% of net monthly income, and fund up to 75–90% of the property value. Use the home loan eligibility calculator to see both limits applied together.
Under the old tax regime you can claim up to ₹2 lakh a year of interest under Section 24(b) and up to ₹1.5 lakh of principal under Section 80C. The new regime allows neither for a self-occupied property — the home loan tax benefit calculator shows the difference for your numbers.
Take the shortest tenure whose EMI you can comfortably service. The EMI difference between 15 and 20 years is often modest, while the interest saved runs into several lakhs.
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