Home Loan EMI Calculator
A home loan runs for years, so small changes in rate or tenure add up. Move the sliders to see how.
Your loan
Your monthly EMI
₹50 lakh · 20 years · 7.1% p.a.
- Principal₹50,00,000
- Interest₹43,75,754
- Total amount payable
- ₹93,75,754
We'll carry ₹50 lakh over 20 years into the form.
Example: For a loan of ₹50,00,000 at 7.1% p.a. for 20 years, the EMI is ₹39,066 and the total amount payable is ₹93,75,754 (interest ₹43,75,754), excluding processing fee and taxes.
How your balance comes down
Early payments are mostly interest. The principal falls faster in the later years.
- Outstanding principal
- Interest paid so far
Year-wise repayment schedule
| Year | Principal paid | Interest paid | Closing balance |
|---|---|---|---|
| 1 | ₹1,17,565 | ₹3,51,223 | ₹48,82,435 |
| 2 | ₹1,26,188 | ₹3,42,599 | ₹47,56,247 |
| 3 | ₹1,35,446 | ₹3,33,342 | ₹46,20,801 |
| 4 | ₹1,45,381 | ₹3,23,407 | ₹44,75,420 |
| 5 | ₹1,56,046 | ₹3,12,742 | ₹43,19,374 |
| 6 | ₹1,67,493 | ₹3,01,294 | ₹41,51,881 |
| 7 | ₹1,79,780 | ₹2,89,008 | ₹39,72,101 |
| 8 | ₹1,92,967 | ₹2,75,820 | ₹37,79,134 |
| 9 | ₹2,07,123 | ₹2,61,665 | ₹35,72,011 |
| 10 | ₹2,22,317 | ₹2,46,470 | ₹33,49,694 |
| 11 | ₹2,38,626 | ₹2,30,163 | ₹31,11,068 |
| 12 | ₹2,56,130 | ₹2,12,657 | ₹28,54,938 |
| 13 | ₹2,74,919 | ₹1,93,869 | ₹25,80,019 |
| 14 | ₹2,95,087 | ₹1,73,701 | ₹22,84,932 |
| 15 | ₹3,16,732 | ₹1,52,055 | ₹19,68,200 |
| 16 | ₹3,39,967 | ₹1,28,820 | ₹16,28,233 |
| 17 | ₹3,64,907 | ₹1,03,882 | ₹12,63,326 |
| 18 | ₹3,91,674 | ₹77,113 | ₹8,71,652 |
| 19 | ₹4,20,406 | ₹48,382 | ₹4,51,246 |
| 20 | ₹4,51,246 | ₹17,542 | ₹0 |
Monthly EMI ₹39,066. Total interest ₹43,75,754. Total payable ₹93,75,754.
What is a home loan EMI?
EMI stands for equated monthly instalment: the fixed amount you pay your lender on the same date each month until the loan is repaid. Each EMI covers that month's interest and part of the loan itself.
Because a home loan runs for many years, a small change in rate or tenure moves the total interest by lakhs. Most home loans have a floating rate, so your lender may change your EMI or your tenure when its rate changes. The calculator assumes the rate stays where you set it.
How the EMI is calculated
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
- P is the loan amount.
- r is the monthly interest rate: the yearly rate ÷ 12 ÷ 100.
- n is the number of monthly instalments.
A worked example
- P = ₹50,00,000
- r = 7.1 ÷ 12 ÷ 100 = 0.005917
- n = 240 instalments (20 years)
Example: For a loan of ₹50,00,000 at 7.1% p.a. for 20 years, the EMI is ₹39,066 and the total amount payable is ₹93,75,754 (interest ₹43,75,754), excluding processing fee and taxes.
How to lower your EMI
Choose a longer tenure
Stretching ₹50 lakh from 20 years to 30 years lowers the EMI from ₹39,066 to ₹33,602 a month. The cost is ₹27,20,822 more in interest over the loan.
Prepay when you can
A lump sum cuts the balance that interest is charged on. You can keep the EMI and finish sooner, or keep the end date and pay less each month.
Try the prepayment calculatorLook for a lower rate
On the same loan, a rate half a percentage point lower (7% p.a.) saves ₹72,166 in interest over 20 years. Comparing lenders is how you find it.
Borrow a little less
Every ₹1 lakh you borrow adds about ₹781 to the monthly EMI at these terms. A larger down payment or a smaller loan lowers it directly.
The same loan over different tenures
A longer tenure lowers the EMI and raises the interest. Here is the loan the calculator opens with, over three tenures.
| Tenure | Monthly EMI | Total interest | Total payable |
|---|---|---|---|
| 10 years | ₹58,312 | ₹19,97,471 | ₹69,97,471 |
| 20 years | ₹39,066 | ₹43,75,754 | ₹93,75,754 |
| 30 years | ₹33,602 | ₹70,96,575 | ₹1,20,96,575 |
We are here to answer
all your questions
Equated monthly instalment. It is the fixed amount you pay your lender each month. Part of it is interest and the rest repays the loan, and the interest share shrinks as the balance falls.
On a floating-rate loan, the lender changes either your EMI or your tenure when its rate moves. Ask which one it will change and read the letter it sends you. The calculator assumes the rate stays as you set it.
The longest tenure gives the smallest EMI and the most interest. A common approach is to pick a tenure whose EMI you can carry comfortably, then prepay when you have spare cash to shorten it. The tenure table on this page shows the trade-off for your loan.
Most of it. Interest is charged on the outstanding balance, which is highest at the start, so the principal falls slowly in the first years. The chart and the year-wise table show the split for your loan.
For an under-construction property, lenders usually release the loan in stages and you pay interest only on the amount released so far. Full EMIs start after the final release. Ask your lender how it handles this.
No. The calculator shows the EMI on the loan amount alone. Processing fees, GST and any insurance are charged separately, or added to the loan if you choose to finance them. Your lender's Key Fact Statement lists every charge.
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