Home Loan EMI Calculator
Monthly Instalment · Total Interest · Full Repayment Schedule
Slide to set your loan amount, interest rate and tenure. Get your exact EMI instantly along with the complete year-wise amortization schedule — no sign-up, no ads, no clutter.
Loan Parameters
Amortization Schedule
Formula
EMI = P × r × (1+r)ⁿ ÷ [(1+r)ⁿ − 1]
P = principal · r = monthly rate = annual rate / 12 / 100 · n = tenure in months
Monthly EMI
₹ 43,391
for 240 months
Principal vs Interest
Quick Insights
How is Home Loan EMI Calculated?
An Equated Monthly Instalment (EMI) is a fixed amount you pay your lender every month until the loan is fully repaid. It covers both the interest due for that month and a portion of the outstanding principal.
The formula is: EMI = P × r × (1+r)ⁿ ÷ [(1+r)ⁿ − 1], where P is the loan amount, r is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the total number of months. In the early months, most of the EMI is interest; as the principal reduces, more of each payment goes toward repaying the loan itself.
A longer tenure lowers the monthly EMI but substantially raises total interest paid. Prepaying — even a small lump sum in the first few years — can save lakhs over the life of the loan.
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Open comparison tool →Frequently Asked Questions
What is an EMI and how is it calculated?
EMI (Equated Monthly Instalment) is a fixed monthly payment combining interest and principal. Formula: EMI = P × r × (1+r)ⁿ ÷ [(1+r)ⁿ − 1], where r = annual rate / 12 / 100 and n = months. Early EMIs are mostly interest; later ones are mostly principal.
What is the current home loan interest rate in India?
Floating home loan rates range from roughly 8.35% to 10.5% p.a. in 2025–26, depending on the lender and your credit profile. Rates are linked to MCLR or the RBI repo rate. Women borrowers often get a 0.05% concession. Compare lenders before choosing.
How does tenure affect total interest paid?
A longer tenure reduces monthly EMI but greatly increases total interest. Example — ₹50 lakh at 8.5%: 20-year tenure → EMI ₹43,391, total interest ₹54.1 lakh; 30-year tenure → EMI ₹38,446, total interest ₹88.4 lakh. Shorter tenure saves more money if you can afford the higher EMI.
What is an amortization schedule?
An amortization schedule shows how each EMI is split between interest and principal repayment, and the outstanding balance after each payment. Use the 'Show' button above to view the full monthly or yearly breakdown for your loan.
Can I prepay my home loan without penalty?
Yes — RBI mandates that lenders cannot charge prepayment penalty on floating-rate home loans to individual borrowers. Fixed-rate loans may carry a penalty of 2–3%. Even one lump-sum prepayment in Year 1–3 can save several lakhs in total interest.
What is the maximum home loan tenure?
Most banks offer up to 30 years, subject to the loan being repaid before the borrower turns 70 (salaried) or 65 (self-employed). A 25-year-old can typically get a 30-year term; a 45-year-old may be limited to 20–25 years.