FREE CALCULATOR
Home Loan EMI Calculator India
Find your exact monthly instalment for any home loan amount, interest rate, and tenure — with total interest paid, tax savings under Section 24(b), and prepayment impact.
- Calculate EMI for home loans from ₹10 lakh to ₹5 crore across tenures up to 30 years.
- See your Section 24(b) tax deduction (up to ₹2 lakh/year on interest) under old and new tax regimes.
- Find out exactly how many months a lump-sum prepayment removes from your loan.
₹50.00 L
20 yrs · 240 mo
1 yr
30 yrs
These are what separate the rate you are quoted from the rate you actually pay. Every figure here feeds the effective APR.
₹25,000 fee + ₹4,500 GST = ₹29,500
Optional. Typically ₹30,000–₹2,00,000, financed into the loan.
No loan interest deduction is available under the New Regime, so tax savings are shown as zero.
Live Cost Breakdown
Monthly instalment (EMI)
₹43,391/mo
for 240 months (20 yrs)
Effective APR
8.58%
8 bps above the 8.5% quoted
Where every ₹100 goes
Total outflow ₹1.04 Cr
Principal
- 47.9%₹50.00 L
Interest
- 51.8%₹54.14 L
Fees & insurance
- 0.3%₹29,500
You repay ₹2.09 for every ₹1 you borrow. Until month 143 (11y 11m) more than half of each EMI is interest — prepaying before then is worth several times what it is worth after.
Total interest
₹54.14 L
over 20 yrs
Upfront charges
₹29,500
paid before disbursal
Tax saved
₹0
New Regime — no deduction
Real cost
₹60.57 L
in today's ₹ at 6% inflation
Ways to finish sooner
1 extra EMI a year
Pay one extra ₹43,391.16 every twelve months
Saves
₹10.29 L
Finishes 3y 3m early · +₹43,391 in year 1
5% step-up each year
Raise your EMI 5% at every annual appraisal
Saves
₹19.52 L
Finishes 7y 9m early
Round the EMI up
Pay ₹44,000 instead of ₹43,391.16
Saves
₹2.26 L
Finishes 8 mo early · +₹7,306 in year 1
Simulated on the loan above. RBI bars lenders from charging foreclosure or prepayment penalties on floating-rate loans to individual borrowers.
Principal
Interest
Estimates for a home loan, for illustration only. Actual EMI, charges and tax treatment depend on your lender's sanction terms and your own tax position. Confirm the figures on your Key Facts Statement before you sign.
How Is EMI Calculated?
Every loan EMI in India is calculated using the reducing-balance method. The formula is:
EMI = P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ – 1]
- PPrincipal — the loan amount you borrow
- rMonthly interest rate — annual rate ÷ 12 ÷ 100 (e.g. 8.5% p.a. → 0.007083 per month)
- nTenure in months — e.g. 20 years = 240 months
Worked example: ₹50 lakh at 8.5% for 20 years — r = 0.007083, n = 240. EMI = 50,00,000 × 0.007083 × (1.007083)²⁴⁰ ÷ [(1.007083)²⁴⁰ – 1] ≈ ₹43,390/month. Total interest paid over 20 years ≈ ₹55.3 lakh — more than the original principal.
Sample EMI Reference Table
| Loan Amount & Rate | 15 years | 20 years | 25 years |
|---|---|---|---|
| ₹30 lakh | ₹29,540 | ₹26,034 | ₹24,165 |
| ₹50 lakh | ₹49,230 | ₹43,390 | ₹40,275 |
| ₹75 lakh | ₹73,845 | ₹65,087 | ₹60,413 |
| ₹1 crore | ₹98,460 | ₹86,780 | ₹80,550 |
EMI figures at 8.5% p.a. Rounded to nearest ₹10. Use the calculator above for your exact EMI.
What Affects Your EMI?
Loan amount — the principal you borrow; higher principal means proportionally higher EMI.
Interest rate — even a 0.5% difference on ₹50 lakh over 20 years changes total interest by over ₹6 lakh.
Tenure — longer tenure lowers your monthly EMI but significantly increases total interest paid.
Rate type — floating rates (linked to repo rate) change over time; fixed rates stay constant throughout.
Processing fee — typically 0.5–1% of the loan amount; included in your true APR, not the advertised rate.
Tips to Lower Your EMI
Increase your down payment to 30–40% — a lower LTV ratio qualifies you for better rates and reduces total interest.
A CIBIL score above 750 can lower your rate by 0.25–0.5%, saving lakhs over a 20-year loan.
Choose a shorter tenure if your income allows — the total interest saving far outweighs the higher monthly EMI.
Make annual partial prepayments of 5–10% of outstanding principal to cut 3–5 years off your loan.
Frequently Asked Questions
What is the EMI for a ₹50 lakh home loan?
For a ₹50 lakh home loan at 8.5% for 20 years, the EMI is approximately ₹43,390 per month. At 9%, it rises to ₹44,986. Use the calculator above to get the exact figure for your rate and tenure.
What is the EMI for a ₹1 crore home loan?
For a ₹1 crore home loan at 8.5% for 20 years, the EMI is approximately ₹86,780 per month. For a 25-year tenure at the same rate, the EMI drops to ₹80,550 — but you pay significantly more total interest.
What is the home loan EMI formula?
EMI = P × r × (1+r)ⁿ ÷ [(1+r)ⁿ – 1], where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the tenure in months. For a ₹50 lakh loan at 8.5% for 20 years: r = 0.007083, n = 240.
How can I reduce my home loan EMI?
You can reduce your EMI by: (1) extending the tenure, though this increases total interest; (2) making a larger down payment to reduce the principal; (3) improving your CIBIL score above 750 to negotiate a lower rate; or (4) doing a balance transfer to a lender offering a lower rate.
Does a prepayment reduce EMI or tenure?
Most Indian banks (SBI, HDFC, ICICI) apply prepayment to reduce tenure by default, which saves more interest. You can request a reduced EMI instead. Reducing tenure is mathematically more advantageous in most cases.