Home Loan EMI Calculator
Instant results as you type.
₹
%
months
Monthly EMI
₹26,034.70
Total interest₹32,48,327.28
Total amount payable₹62,48,327.28
Interest as % of loan108.28%
For education and planning only. Your bank or lender’s actual figures can differ — fees, rounding, day-count conventions and local rules vary. Always confirm the final numbers with your provider before deciding.
A home loan is the largest cheque most people ever sign, and the EMI is only half the story — over twenty years the interest can exceed the amount borrowed. This calculator shows the monthly payment, the total interest, and the interest as a share of the loan, so the real price of a longer tenure is visible before you commit rather than after. Enter the amount, the rate your bank quoted and the tenure; the numbers update as you type, and nothing you enter is sent anywhere.
How to use it
- Enter the loan amount — the property price minus your down payment.
- Enter the interest rate your lender quoted, and the tenure in months.
- Read the EMI, the total interest, and what that interest costs as a percentage of the loan.
Examples
- 30 lakh at 8.5% for 20 years: 26,035 a month, 32.48 lakh in interest — 108% of what you borrowed.
- The same loan over 30 years: a lower EMI, but far more interest paid in total.
Frequently asked questions
- How much home loan can I get on my salary?
- Most lenders cap the EMI at 40 to 50 per cent of your take-home pay, counting any existing loans. On a take-home of 1 lakh a month with no other EMIs, that is roughly 40,000 to 50,000 of EMI capacity, which at current rates supports a loan of around 50 to 60 lakh over 20 years. Lenders also apply a loan-to-value limit, usually 75 to 90 per cent of the property price, so the down payment matters as much as the salary.
- Should I choose a 20-year or 30-year tenure?
- A longer tenure buys a smaller EMI and costs a great deal more interest. Run both in this calculator and compare the total interest line — the difference is usually many lakhs. The sensible middle path is to take the longer tenure for safety, then prepay whenever you have surplus, which gives you a low committed EMI and a short effective loan.
- How much do I save by prepaying a home loan?
- A great deal, if you prepay early. In the first years almost all of the EMI is interest, so a lump sum then removes principal that would otherwise have been charged interest for decades. The same amount prepaid in the final years saves very little. When you prepay, ask the bank to reduce the tenure rather than the EMI — that is where the saving is.
- Does this include processing fees and insurance?
- No. It calculates the loan itself. Lenders typically add a processing fee of around 0.5 per cent, and often bundle property insurance or a loan-protection policy. Ask for the annual percentage rate including all charges, because two loans with the same headline rate can differ once fees are counted.
- What happens to my EMI if the interest rate changes?
- On a floating-rate loan, the standard practice is to keep the EMI the same and extend the tenure when rates rise, which hides the cost — you pay for longer. Recalculate here with the new rate to see the true effect, and consider raising your EMI instead so the tenure does not stretch.