Calculator
Home loan EMI calculator
A 20-year promise deserves 20 seconds of maths first.
Typical home loans: 8.5–10% over 15–25 years. Principal + interest up to ₹1.5L/₹2L get 80C/24(b) deductions (old regime).
- Monthly EMI₹44,986
- Total interest₹57.97 L
- Total payable₹1.08 Cr
Hover a bar for that year's principal vs interest split.
Reducing-balance EMI. A 0.5% rate negotiation or yearly prepayment shortens the loan more than it looks — run the numbers before signing.
What this calculator answers
A ₹50,00,000 home loan at 9% over 20 years costs ₹44,986 a month, ₹57.97 lakh in interest and ₹1.08 crore in total. Change the rate or tenure to see what half a percentage point is worth over the full term.
How it is calculated
Reducing-balance EMI: EMI = P × i × (1 + i)^n ÷ ((1 + i)^n − 1), with i one-twelfth of the annual rate and n the number of months; the chart splits each year's payment into principal and interest.
Defaults are ₹50 lakh at 9% over 20 years, inside the 8.5–10% and 15–25-year range typical of home loans. Processing fees and insurance are excluded.
Common questions
How much does a rate negotiation save?
It compounds over the whole tenure. Run the same loan at your current rate and at half a percentage point lower to see the difference in total interest.
Which tax benefits apply to a home loan?
In the old regime the principal repayment counts towards the ₹1.5 lakh 80C cap and interest on a self-occupied house is allowed up to ₹2 lakh under Section 24(b) — the income tax calculator applies both caps.
Does prepaying help?
Prepayment reduces the outstanding balance and therefore the interest charged on it. Entering a smaller principal over a shorter remaining tenure approximates the effect.
What is the EMI on a ₹1 crore home loan?
At the 9% default over 20 years, about ₹89,972 a month. Your offer rate moves it meaningfully — enter ₹1,00,00,000 with your bank's rate and tenure to see your exact figure, plus the total interest.
Is this calculated on a reducing balance?
Yes. Every EMI here uses the monthly reducing-balance method — interest each month applies only to the outstanding principal, which is why early payments are interest-heavy and later ones mostly principal, as the yearly chart shows.
Source & freshness
- Source
- Deterministic formula in lib/calculators.ts
- Timeliness
- Static-verified
- Method
- calculated
- Note
- Illustrative projection from your inputs — not a market quote.