Home Loan EMI Calculator

Plan your home purchase with confidence — calculate your monthly home-loan EMI and the total interest over the full tenure.

Enter home loan details

Loan amount

₹

Interest rate (p.a.)

Loan tenure

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Your results

Monthly EMI

₹43,391

Total payable₹1.04 Cr

Principal amount₹50,00,00048.0%
Total interest₹54,13,87952.0%

Monthly EMI

₹43,391

Total interest

₹54,13,879

Total payment

₹1,04,13,879

Interest as % of loan

108%

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What is the Home Loan EMI Calculator?

A home loan EMI calculator estimates the Equated Monthly Instalment for a housing loan. Because home loans are large and run for many years, even a small change in rate or tenure has a big impact on the monthly outgo and the total interest — this tool lets you see that impact before you borrow.

How does it work?

Using the reducing-balance method, each EMI pays the month’s interest on the outstanding balance plus a slice of principal. The calculator keeps the EMI constant across the tenure and totals up how much interest you pay overall on top of the borrowed amount.

Formula

EMI = P × i × (1 + i)^n / [ (1 + i)^n − 1 ]

P = home loan principal
i = monthly interest rate (annual ÷ 12 ÷ 100)
n = tenure in months

Example calculation

A ₹50,00,000 home loan at 8.5% p.a. for 20 years (240 months) gives an EMI of about ₹43,391. Over the tenure you repay roughly ₹1.04 crore — meaning the interest alone is over ₹54 lakh, more than the principal itself.

Benefits

Understand affordability before applying for a home loan.
Compare offers by varying rate and tenure instantly.
See the large interest component to plan part-prepayments.

Limitations

Assumes a fixed rate; most home loans are floating and reset over time.
Excludes processing fees, stamp duty, insurance and GST.
Does not factor in tax benefits on principal (80C) and interest (24b).

Conclusion

For a long-tenure home loan, interest can exceed the principal, so even modest prepayments save lakhs. Use this calculator to choose a tenure you can comfortably afford while keeping total interest in check.

You have the numbers — now put them to work

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Frequently asked questions

How is a home loan EMI calculated?

It uses the reducing-balance EMI formula based on your loan amount, annual interest rate and tenure in months.

Should I choose a longer or shorter tenure?

A shorter tenure means a higher EMI but much lower total interest. A longer tenure eases the monthly burden but costs far more in interest overall.

Do home loans offer tax benefits?

Yes. Under the old regime, principal repayment qualifies under Section 80C and interest under Section 24(b), subject to limits. This calculator does not include those benefits.

What is a floating rate home loan?

A floating-rate loan’s interest changes with a benchmark rate, so your EMI or tenure can rise or fall over time. The calculator assumes a constant rate.

How does prepayment help?

Prepaying reduces the outstanding principal, cutting future interest significantly — especially in the early years when interest forms most of the EMI.

What EMI can I afford?

As a rule of thumb, keep all loan EMIs within about 40–50% of your monthly income, leaving room for other expenses and savings.