Home Loan EMI Calculator
Plan your dream home purchase. Get instant EMI, total interest, and a year‑wise repayment schedule.
A home loan in India is one of the biggest financial commitments you'll make. Banks and HFCs offer loans up to ₹5 crore at interest rates ranging from 8.40% to 12%. The repayment tenure can go up to 30 years, which significantly affects the EMI and total interest outgo. Our calculator uses the standard reducing‑balance method to give you accurate EMI figures. Knowing your EMI helps you budget better, and pre‑payments early in the tenure can save lakhs in interest.
Monthly EMI
Total Interest
Total Payment
Also try our generic EMI calculator for other loan types.
How to Use Home Loan EMI Calculator
- Enter the loan amount (default ₹30,00,000), interest rate (default 8.5%), and tenure in years (default 20).
- Click Calculate EMI to see the monthly instalment, total interest, and total payment.
- Review the three result cards: Monthly EMI, Total Interest, and Total Payment.
- Toggle the Year‑wise Table to view how much principal and interest you pay each year, and the outstanding balance.
Benefits of Home Loan EMI Calculator
- Uses the standard reducing‑balance EMI formula, giving accurate numbers that match bank loan schedules.
- Year‑wise amortisation table reveals how much of your early EMIs go toward interest, helping you plan prepayments.
- Defaults mirror a typical Indian home loan scenario, so you get meaningful results even without changing inputs.
- Works offline after loading; your loan scenarios stay private and aren’t shared with any third party.
Frequently Asked Questions
How is home loan EMI calculated in India?
EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is loan amount, r is monthly interest rate, and n is number of months. The calculator applies this reducing‑balance formula automatically.
What happens if I increase the tenure to 30 years?
EMI decreases, making monthly payments more affordable, but total interest paid over the loan lifetime increases significantly. Use the year‑wise table to see the long‑term trade‑off.
Can I use this calculator for a loan with a floating interest rate?
Yes, enter the current rate. For floating rates, re‑calculate periodically as the rate changes. The tool gives a snapshot based on the rate you input.
Is Home Loan EMI Calculator free and private?
Yes — it is 100% free, needs no sign-up, and everything runs in your browser; your data never leaves your device.