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Home Loan EMI Calculator
Enter Core Loan
Input your total sanctioned loan amount (usually 80% of the property value).
Current Bank Rate
Enter the floating interest rate provided by your bank (e.g., 8.5% for SBI/HDFC).
Select Max Tenure
Choose your repayment duration (usually 20 or 30 years).
Analyze Prepayments
View the amortization table to see exactly how much total interest you are handing over to the bank, and plan your annual prepayments.
Compare current home loan interest rates from major Indian banks ({MONTH} {YEAR}):
| Bank | Floating Interest Rate | EMI per ₹1 Lakh (20 yr) | Processing Fee |
|---|---|---|---|
| SBI | 8.50% onwards | ₹868 | Nil (Festival offers usually apply) |
| HDFC Bank | 8.70% onwards | ₹879 | 0.50% (Min ₹3,000) |
| ICICI Bank | 8.75% onwards | ₹883 | 0.50% + GST |
| LIC Housing | 8.50% onwards | ₹868 | Up to ₹10,000 |
Personalized EMI Analysis
The Home Loan EMI Calculator helps you calculate the exact monthly repayment for your housing loan. A home loan is usually the largest financial commitment of your life, spanning 20 to 30 years.
More importantly, this tool helps you understand the concept of Amortization—revealing how your early EMIs are almost entirely absorbed by interest, and how making small, strategic prepayments can shave a decade off your loan tenure and save you millions in interest.
Monthly EMI
₹10,747
Equated Monthly Installment for your loan.
Total Interest
₹1,44,817
Cost of borrowing
Total Amount
₹6,44,817
Principal + Interest
Loan Snapshot
Interest is 22% of your total payment.
Principal
78%
Interest
22%
Increasing your EMI by just 10% annually or paying one extra EMI per year can reduce your 20-year loan by nearly 5 years.
Extra EMI
Reduces tenure by 4-5 years.
SIP Offset
Recovers total interest cost.
Your journey to debt-free ownership
Explore your debt-free roadmap
See how every payment reduces your principal and saves you on long-term interest costs.
The Home Loan EMI Calculator helps you calculate the exact monthly repayment for your housing loan. A home loan is usually the largest financial commitment of your life, spanning 20 to 30 years.
More importantly, this tool helps you understand the concept of Amortization—revealing how your early EMIs are almost entirely absorbed by interest, and how making small, strategic prepayments can shave a decade off your loan tenure and save you millions in interest.
Home loans use a 'reducing balance' method. While your monthly EMI remains fixed, the ratio of Principal to Interest inside that EMI changes every single month.
EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ - 1)Where:
Rahul buys a flat and takes a ₹50 Lakh home loan at 8.5%.
Scenario A: He chooses a 30-year tenure to keep his EMI low.
• His EMI is ₹38,445.
• Total Interest Paid over 30 years: ₹88.4 Lakhs.
• Total outflow for a 50L loan = ₹1.38 Crores! He paid the bank almost double the loan amount just in interest.
Scenario B: He chooses a 20-year tenure.
• His EMI is slightly higher at ₹43,391 (only ₹5k more).
• Total Interest Paid over 20 years: ₹54.1 Lakhs.
• Just by paying ₹5,000 extra per month, Rahul saves ₹34.3 Lakhs in interest and is debt-free a decade earlier.
Compare current home loan interest rates from major Indian banks (April 2026):
| Bank | Floating Interest Rate | EMI per ₹1 Lakh (20 yr) | Processing Fee |
|---|---|---|---|
| SBI | 8.50% onwards | ₹868 | Nil (Festival offers usually apply) |
| HDFC Bank | 8.70% onwards | ₹879 | 0.50% (Min ₹3,000) |
| ICICI Bank | 8.75% onwards | ₹883 | 0.50% + GST |
| LIC Housing | 8.50% onwards | ₹868 | Up to ₹10,000 |
Calculations are estimates based on standard monthly reducing balance. Actual EMI depends on bank terms and processing fees.
Verified Contributor
I verified this calculation against the April 2026 Fiscal Cycle. If you have questions about the logic, reach out via the Author Page.
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