Calculate home loan monthly EMI, total interest, and complete repayment breakdown.
Result
Calculated on a monthly reducing balance method. Exact bank figures may include one-time processing charges, documentation fees, or stamp duty.
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EMI = [P x r x (1 + r)^n] / [(1 + r)^n - 1]
₹50,00,000 loan at 8.5% interest for 20 years.
Monthly EMI: ₹43,391 | Total interest: ₹54,13,879 | Total repayment: ₹1,04,13,879.
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Open calculatorHome loan EMI uses the reducing-balance method where monthly interest is charged on the outstanding principal balance. As you make payments, the principal component increases while the interest component gradually decreases.
Yes. In India, floating-rate home loans carry zero prepayment penalties for individual borrowers. Making partial prepayments directly reduces your outstanding principal, saving substantial interest over the tenure.
Under the Old Tax Regime, you can claim up to ₹2 lakh for interest repayment under Section 24(b) and up to ₹1.5 lakh for principal repayment under Section 80C for self-occupied property.
A home loan is typically the largest financial commitment an individual undertakes, with tenures stretching up to 30 years. During the initial years of repayment, a major portion of each monthly EMI goes toward interest rather than principal reduction.
Using this calculator, prospective homebuyers can simulate different down-payment amounts and tenures to find a monthly installment that comfortably fits their household budget without straining cash reserves.
Opt for Shorter Tenure: While a 30-year loan offers lower monthly EMIs, a 20-year or 15-year tenure significantly slashes total interest outflow over the loan lifespan.
Annual Prepayment: Channeling annual bonuses or tax refunds into principal prepayments can shave years off your loan tenure and save lakhs of rupees in cumulative interest.