Home Loan EMI Calculator
Calculate monthly EMI, total interest, and full amortisation schedule for your home loan — with prepayment impact.
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How this calculator works
Home loan EMI has two components: principal and interest. In early years, most of your EMI goes to interest — this is called front-loading. Knowing your amortisation schedule helps you decide when a prepayment makes the biggest impact (early years, not later).
EMI = P × r × (1+r)ⁿ / [(1+r)ⁿ − 1] | where P = principal, r = monthly rate, n = tenure in months
Last updated: March 2026 · Rates and slabs updated for FY 2025-26
Pay EMI on 1st
If your bank offers a choice, pick the 1st of the month for EMI — gives your salary time to arrive on the 30th.
Even ₹1,000 extra helps
Paying one extra EMI per year (13 instead of 12) can cut your loan tenure by 3–4 years on a 20-year loan.
Refinance if rate drops
If RBI cuts rates, ask your bank to reduce your rate — or switch to a cheaper lender (balance transfer).
Frequently Asked Questions
Home loan rates in India range from 8.35% to 9.5% for most borrowers in 2025. SBI offers rates from 8.5%, HDFC from 8.7%, and ICICI from 8.75%. Your actual rate depends on CIBIL score and income.
EMI = P × r × (1+r)ⁿ ÷ [(1+r)ⁿ − 1], where P = principal loan amount, r = monthly interest rate (annual rate ÷ 12), n = tenure in months. This calculator applies this formula instantly.
Most banks offer 50–60× your monthly salary as home loan. On ₹50,000/month, you can typically get ₹25–30 lakhs. EMI should not exceed 40–50% of monthly income.
Yes — significantly. Even a ₹2 lakh prepayment in year 2 of a 20-year loan can save ₹8–12 lakhs in interest and cut 3–4 years off your tenure. The savings are largest in early years.