Interest on what you still owe
Each EMI pays the month's interest first; the rest repays principal, so the interest part shrinks every month and the principal part grows. You never pay interest on money you have already repaid.
Free home loan EMI calculator
Home Loan EMI Calculator
Enter the loan amount, the rate and the tenure — and get the EMI, the total interest and the total payment, with the year-by-year amortisation, what prepayment saves and how the tenure changes the cost.
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₹43,391 a month
EMI on ₹50,00,000 for 20 years at 8.5%
52% of all you pay is interest
₹54,13,879 of interest on the sample loan
₹20,16,615 saved by prepaying
₹5,000 a month extra + ₹5 lakh in year 5, on the sample loan
A projection at the rate you enter, not financial advice. This tool projects your EMI at the rate you enter — it is not financial advice. The rate is the one your lender sanctions, and it changes with the repo rate; check the sanction letter before you sign. The projection assumes a fixed rate for the whole tenure and no fees — processing fees, GST on charges, stamp duty, registration and home insurance are not in the EMI.
Calculate home loan EMI
₹50 lakh for 20 years at 8.5%Example figures are filled in. Replace them with your own numbers.
YOUR ANSWER
WORKING SHOWN BELOW
Your answer
₹43,391
MONTHLY EMI
₹54,13,879
TOTAL INTEREST
₹1,04,13,879
TOTAL PAYMENT
Your answer at a glance
₹50,00,000 for 20 years at 8.5% → EMI ₹43,391 a month (₹54,13,879 interest; ₹1,04,13,879 in total).
Year 1: opening 50,00,000, interest 4,21,183, principal 99,511, prepayment 0, closing 49,00,489.
Total = 50,00,000 loan + 54,13,879 interest = 1,04,13,879.
Reducing balance: each EMI pays the month's interest first and the rest repays principal, so the interest part shrinks every month. Only the final payment is adjusted, to clear the balance exactly.
Add an extra monthly payment or a lump sum above to see how much interest prepayment saves.
The projection holds the rate you enter constant for the whole tenure. Home loan rates move with the RBI repo rate, so check the current rate on your sanction letter before you sign.
Recent checks · this session
Select Calculate to keep up to five checks while this page is open.
Your repayment, year by year
Year by year: how the loan is repaid
Year-by-year amortisation of ₹50,00,000 at 8.5% over 20 years.
| Year | Opening balance | Interest | Principal | Prepayment | Closing balance |
|---|---|---|---|---|---|
| Year 1 | ₹50,00,000 | ₹4,21,183 | ₹99,511 | ₹0 | ₹49,00,489 |
| Year 2 | ₹49,00,489 | ₹4,12,386 | ₹1,08,308 | ₹0 | ₹47,92,181 |
| Year 3 | ₹47,92,181 | ₹4,02,813 | ₹1,17,881 | ₹0 | ₹46,74,300 |
| Year 4 | ₹46,74,300 | ₹3,92,394 | ₹1,28,300 | ₹0 | ₹45,46,000 |
| Year 5 | ₹45,46,000 | ₹3,81,053 | ₹1,39,641 | ₹0 | ₹44,06,359 |
| Year 6 | ₹44,06,359 | ₹3,68,710 | ₹1,51,984 | ₹0 | ₹42,54,375 |
| Year 7 | ₹42,54,375 | ₹3,55,276 | ₹1,65,418 | ₹0 | ₹40,88,957 |
| Year 8 | ₹40,88,957 | ₹3,40,655 | ₹1,80,039 | ₹0 | ₹39,08,918 |
| Year 9 | ₹39,08,918 | ₹3,24,741 | ₹1,95,953 | ₹0 | ₹37,12,965 |
| Year 10 | ₹37,12,965 | ₹3,07,420 | ₹2,13,274 | ₹0 | ₹34,99,691 |
| Year 11 | ₹34,99,691 | ₹2,88,569 | ₹2,32,125 | ₹0 | ₹32,67,566 |
| Year 12 | ₹32,67,566 | ₹2,68,051 | ₹2,52,643 | ₹0 | ₹30,14,923 |
| Year 13 | ₹30,14,923 | ₹2,45,720 | ₹2,74,974 | ₹0 | ₹27,39,949 |
| Year 14 | ₹27,39,949 | ₹2,21,415 | ₹2,99,279 | ₹0 | ₹24,40,670 |
| Year 15 | ₹24,40,670 | ₹1,94,961 | ₹3,25,733 | ₹0 | ₹21,14,937 |
| Year 16 | ₹21,14,937 | ₹1,66,169 | ₹3,54,525 | ₹0 | ₹17,60,412 |
| Year 17 | ₹17,60,412 | ₹1,34,832 | ₹3,85,862 | ₹0 | ₹13,74,550 |
| Year 18 | ₹13,74,550 | ₹1,00,726 | ₹4,19,968 | ₹0 | ₹9,54,582 |
| Year 19 | ₹9,54,582 | ₹63,604 | ₹4,57,090 | ₹0 | ₹4,97,492 |
| Year 20 | ₹4,97,492 | ₹23,201 | ₹4,97,492 | ₹0 | ₹0 |
Shorter tenure, less interest
Same loan, five tenures
Tenure comparison at ₹50,00,000 and 8.5% — the same loan, five tenures.
| Tenure | Monthly EMI | Total interest | Total payment |
|---|---|---|---|
| 10 years | ₹61,993 | ₹24,39,141 | ₹74,39,141 |
| 15 years | ₹49,237 | ₹38,62,656 | ₹88,62,656 |
| 20 years | ₹43,391 | ₹54,13,879 | ₹1,04,13,879 |
| 25 years | ₹40,261 | ₹70,78,406 | ₹1,20,78,406 |
| 30 years | ₹38,446 | ₹88,40,443 | ₹1,38,40,443 |
Understand the result
What does a home loan EMI calculator do?
A home loan EMI is the fixed amount you pay the bank every month until the loan is repaid. Each EMI first pays that month's interest on the balance you still owe, and the rest repays the principal — so the interest part shrinks every month and the principal part grows. This calculator works out the EMI, the total interest and the total payment, shows the year-by-year amortisation, and tells you exactly what an extra monthly payment or a lump sum saves.
The first years are mostly interest
In year 1 of the ₹50 lakh sample, ₹4,21,183 of the ₹5,20,694 paid is interest and only ₹99,511 is principal. Prepaying early cuts the interest for every year after.
Floating-rate loans, individuals
The RBI (Pre-payment Charges on Loans) Directions, 2025 bar prepayment charges on floating-rate home loans to individuals, for loans sanctioned or renewed on or after 1 January 2026. Fixed-rate loans may still carry a charge.
How it works
From a loan amount to a monthly EMI
Enter the loan amount first — the rate and tenure are already filled in with the usual figures — then read the EMI, the breakup and the year-by-year table.
Enter the loan amount
The amount the bank sanctions — from ₹1,00,000 to ₹10,00,00,000. This is the principal; the interest is worked out on top of it, month by month, on the balance you still owe.
Check the rate and tenure
The rate is pre-filled at 8.5%, the typical home-loan rate in November 2026. Pick the tenure in years — 1 to 30. A longer tenure cuts the EMI but raises the total interest, so compare tenures in the table below before you choose.
Add prepayment if you plan any
An extra amount every month, a lump sum in a chosen year, or both. The calculator reworks the whole schedule with the prepayment in — the loan ends earlier and the interest falls.
Read the EMI, the breakup and the tables
The answer appears as you type — EMI, total interest and total payment — with the step-by-step working, the year-by-year amortisation, the prepayment saving and the tenure comparison underneath.
The calculation, explained
How home loan EMI is calculated
The EMI uses the reducing-balance formula: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r the monthly rate (annual rate ÷ 12 ÷ 100) and n the tenure in months. Each month's interest is the balance × r; the EMI pays the interest first and the rest repays principal. An extra monthly payment adds to the principal repaid each month, and a lump sum is applied after the EMI of the month in the year you choose — both shorten the loan and cut the total interest. Only the final payment is adjusted, to clear the balance exactly.
1. First year: mostly interest
5,20,694 paid · 4,21,183 interest · 99,511 principal
Each EMI pays the month's interest first. Closing balance after year 1: 49,00,489.
2. Twenty years of EMIs
1,04,13,879 paid · 54,13,879 interest
Interest is 52% of everything paid — more than half the money goes to interest, not to the house.
3. Prepayment changes everything
20,16,615 saved · 76 months early
₹5,000 extra a month plus a ₹5,00,000 lump sum in year 5 finish the loan in 13 years 8 months and cut the interest to 33,97,264.
Interest is front-loaded — the first year is mostly interest
On the ₹50 lakh sample, the first year's ₹5,20,694 of payments splits into ₹4,21,183 of interest and only ₹99,511 of principal — four rupees of interest for every rupee of principal repaid. By year 20 the split has reversed: ₹23,201 of interest against ₹4,97,492 of principal. That is why prepayment early in the loan saves the most: every extra rupee then cuts the interest for all the years after it.
Worked examples
Four loans, four EMIs
One example for each everyday case, including one with prepayment. Select any example to load it into the calculator and check the working for yourself.
₹50 lakh for 20 years at 8.5% costs ₹43,391 a month
₹50,00,000 over 240 months; you pay ₹54,13,879 of interest — 52.0% of the ₹1,04,13,879 total — and the EMI stays ₹43,391 every month.
₹50,00,000 · 20 years @ 8.5% → EMI ₹43,391 (interest ₹54,13,879)
₹30 lakh for 15 years at 9% costs ₹30,428 a month
₹30,00,000 over 180 months; you pay ₹24,77,040 of interest on a ₹54,77,040 total — the shorter tenure keeps the interest down.
₹30,00,000 · 15 years @ 9% → EMI ₹30,428 (interest ₹24,77,040)
₹75 lakh for 25 years at 8% costs ₹57,886 a month
₹75,00,000 over 300 months; you pay ₹98,65,865 of interest — more than the ₹75,00,000 you borrowed — because the loan runs 25 years.
₹75,00,000 · 25 years @ 8% → EMI ₹57,886 (interest ₹98,65,865)
₹5,000 extra a month plus ₹5 lakh in year 5 saves ₹20,16,615
On the ₹50 lakh loan, the extra ₹5,000 a month and a ₹5,00,000 lump sum in year 5 cut the interest from ₹54,13,879 to ₹33,97,264 and finish the loan 76 months early — in 13 years 8 months instead of 20 years.
₹50,00,000 · 20 years @ 8.5% → EMI ₹43,391 (interest ₹33,97,264)
Home loan rules and tax breaks at a glance
Home loan rules and tax breaks at a glance
The rules that decide what your home loan actually costs: the tax deductions, the prepayment charge rule, the typical rates and the tenure range. Rates are the ones your lender quotes — they change often, so check the sanction letter before you sign.
| Figure | Rule | What it means |
|---|---|---|
| ₹2,00,000 | Section 24(b) — interest deduction | Up to ₹2,00,000 a year of home-loan interest is deductible for a self-occupied house under the old tax regime. The loan must be taken on or after 1 April 1999 and the house completed within 5 years — otherwise the cap is ₹30,000. |
| ₹1,50,000 | Section 80C — principal repayment | Principal repaid up to ₹1,50,000 a year counts under Section 80C, inside the overall ₹1,50,000 80C cap. Old regime only — and the same ₹1,50,000 cap covers all your other 80C items too. |
| ₹1,50,000 — CLOSED | Section 80EEA — first-time buyers only | An extra ₹1,50,000 a year of interest for first-time buyers whose loan was sanctioned 1 April 2019–31 March 2022 and whose stamp-duty value is ₹45 lakh or less. The window closed on 31 March 2022 — no new loan qualifies. |
| Old regime only | New regime gives no deduction | Sections 24(b), 80C and 80EEA apply only under the old tax regime. Under the new regime you cannot claim them — check which regime leaves you better off before you choose. |
| No charge | Prepayment on floating-rate loans | The RBI (Pre-payment Charges on Loans) Directions, 2025 bar prepayment charges on floating-rate home loans to individuals, for loans sanctioned or renewed on or after 1 January 2026. Fixed-rate loans may still carry a charge — check your sanction letter. |
| 7.40%–9.25% | Typical home-loan rates, November 2026 | Indicative range for home loans from published November 2026 rate tables, after the RBI raised the repo rate to 5.50% in October 2026. Your sanction letter decides — rates move with the repo rate. |
| 1–30 years | Tenure range | Home loans run from 1 to 30 years. A longer tenure cuts the EMI but raises the total interest — compare the tenures in the table below before you choose. |
| No subsidy counted | Housing subsidy — check the official portal | This calculator includes no subsidy in its figures. If you are a first-time buyer, check the current housing-subsidy rules on the official PMAY-Urban portal, pmay-urban.gov.in, before you apply — subsidy rules change with the scheme. |
The EMI is arithmetic — the rate, the tenure and any prepayment decide it. The tax breaks depend on the old regime and, for 80EEA, on a sanction window that has already closed.
Common mistakes
Four ways to get a home loan wrong
The formula is short, but four readings trip people up. Each one can cost lakhs over twenty years.
Picking the longest tenure for the lowest EMI
Stretching the ₹50 lakh sample from 20 to 25 years cuts the EMI from ₹43,391 to ₹40,261 — but adds ₹16,64,527 of interest. Pick the shortest tenure whose EMI you can pay comfortably.
Paying only the EMI for twenty years
₹5,000 extra a month on the sample saves ₹13,89,250 of interest and 53 months. The earlier the prepayment, the bigger the saving — a lump sum in year 1 beats the same sum in year 10.
Assuming all the interest is deductible
Section 24(b) caps the interest deduction at ₹2,00,000 a year, and only under the old regime. The sample's first-year interest is ₹4,21,183 — only ₹2,00,000 of it is deductible. Section 80EEA is closed to new loans entirely.
Budgeting only the EMI
The EMI is principal plus interest only. The processing fee (plus GST on the fee), stamp duty, registration, home insurance and legal charges are all extra — budget for them before you sign, not after.
Your questions, answered
Home loan EMI calculator FAQs
What is a home loan EMI?
A home loan EMI is the fixed amount you pay the bank every month until the loan is repaid. Each EMI first pays that month's interest on the balance you still owe, and the rest repays the principal — so the interest part shrinks every month and the principal part grows. On a ₹50,00,000 loan at 8.5% for 20 years the EMI is ₹43,391 a month, and it stays ₹43,391 for all 240 months.
How is home loan EMI calculated?
With the reducing-balance formula: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r the monthly rate (annual rate ÷ 12 ÷ 100) and n the tenure in months. For ₹50,00,000 at 8.5% for 20 years: r = 0.085 ÷ 12 = 0.007083 and n = 240, so the EMI is ₹43,391. Over 20 years you pay ₹1,04,13,879 in total — ₹50,00,000 of principal and ₹54,13,879 of interest.
How is this different from the EMI calculator?
The EMI calculator covers any loan — home, car or personal — with just an amount, a rate and a tenure. This page is built for home loans: it adds an extra monthly payment and a lump-sum prepayment with the saving worked out, a tax-breaks table for Sections 24(b), 80C and 80EEA, a tenure comparison across 10 to 30 years, a balance-transfer explainer and a year-by-year amortisation table with a prepayment column. Use the EMI calculator for any loan; use this one when the loan is a home loan.
How much can prepayment save?
A lot, and earlier is better. On the ₹50 lakh sample at 8.5% for 20 years, paying ₹5,000 extra a month saves ₹13,89,250 of interest and finishes the loan 53 months early. A single ₹5,00,000 lump sum in year 5 saves ₹10,69,153 and 36 months. Both together save ₹20,16,615 and 76 months — the loan ends in 13 years 8 months instead of 20. There is no prepayment charge on floating-rate home loans to individuals under the RBI Directions of 2025, for loans sanctioned or renewed on or after 1 January 2026.
Should I choose a longer or shorter tenure?
A longer tenure cuts the EMI but raises the total interest sharply. On ₹50,00,000 at 8.5%: 10 years costs ₹61,993 a month and ₹24,39,141 of interest; 20 years costs ₹43,391 a month and ₹54,13,879 of interest; 30 years costs ₹38,446 a month and ₹88,40,443 of interest. Stretching from 20 to 25 years saves ₹3,130 a month but adds ₹16,64,527 of interest. Pick the shortest tenure whose EMI you can pay comfortably — and prepay when you can.
What tax benefits can I claim on a home loan?
Three, all under the old tax regime only. Section 24(b) lets you deduct up to ₹2,00,000 a year of interest on a self-occupied house (the loan must be from 1 April 1999 and the house completed within 5 years, or the cap is ₹30,000). Section 80C covers principal repaid up to ₹1,50,000 a year, inside the overall 80C cap. Section 80EEA gave first-time buyers an extra ₹1,50,000 a year of interest — but only for loans sanctioned 1 April 2019–31 March 2022 with a stamp-duty value of ₹45 lakh or less; that window has closed, so no new loan qualifies. Under the new regime you cannot claim any of the three — confirm with your chartered accountant which regime leaves you better off.
Is there a charge for prepaying a home loan?
Not on a floating-rate home loan to an individual: the RBI (Pre-payment Charges on Loans) Directions, 2025 bar prepayment charges on floating-rate loans to individuals for non-business purposes, for loans sanctioned or renewed on or after 1 January 2026. Fixed-rate home loans may still carry a charge — check your sanction letter. This calculator assumes no prepayment charge; if your loan is fixed-rate, ask your lender what the charge is before you prepay.
What is a home loan balance transfer?
A balance transfer moves your outstanding home loan to another lender at a lower rate: the new lender pays off the old one and you repay the new lender on the new terms. It is worth it when the rate gap covers the new lender's processing fee and the remaining tenure is long enough for the saving to add up — on a loan with only a year left, the fee usually eats the gain. Because prepayment charges are barred on floating-rate loans to individuals, the old lender cannot charge you to leave. Compare the new EMI plus the fee, not the rate alone.
Does this calculator send my numbers anywhere?
No. Every calculation runs entirely on this page — nothing is sent to a server, nothing is stored, and reloading the page clears your recent checks.
About the method
This page uses the standard reducing-balance EMI formula: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), with r the monthly rate (annual rate ÷ 12 ÷ 100) and n the tenure in months — the formula every RBI-regulated lender uses. Each month's interest is the balance × r; the EMI pays the interest first and the rest repays principal. An extra monthly payment and any lump sum go straight to principal after the EMI of that month. Each schedule row's opening and closing are the exact balances rounded to the nearest rupee, and the row's principal is its opening balance minus its closing balance minus the prepayment in that year, so the rows add up exactly to the loan amount and the total interest. Each year's payments round to the nearest rupee, and the last year's payments are set so the rows add up exactly to the total — the same way a lender's final payment is adjusted to clear the balance.
Rate checked 11 November 2026: the rate is user-entered; the 8.5% default and the 7.40%–9.25% indicative range are from published November 2026 home-loan rate tables, after the RBI raised the repo rate to 5.50% in October 2026. Cross-checked against the ranking home loan EMI calculators: ₹50,00,000 at 8.5% for 20 years gives an EMI of ₹43,391 and total interest of ₹54,13,879 on easy-emi.com and on moneykarma.com, and the same loan at 8.75% gives an EMI of ₹44,186 on loancalc.tech (which prints total interest of ₹56,04,528.51 — the exact figure to two decimals; rounded to the nearest rupee that is ₹56,04,529, which is what this calculator shows). The tenure table cross-checks too: 10 years at 8.5% gives ₹61,993 a month and ₹24,39,141 of interest, and 30 years gives ₹38,446 a month and ₹88,40,443 of interest, on easy-emi.com. The tax figures are from the Income-tax Act, 1961 — Section 24(b) (₹2,00,000), Section 80C (₹1,50,000) and Section 80EEA (₹1,50,000; sanction window 1 April 2019–31 March 2022, stamp-duty value ₹45 lakh or less, first-time buyer, old regime only). The prepayment-charge rule is the RBI (Pre-payment Charges on Loans) Directions, 2025. The PMAY-Urban portal (pmay-urban.gov.in) was checked on 11 November 2026: its homepage shows only the PMAY-U mission and the old CLSS, and the PMAY-U 2.0 application portal did not load, so no interest-subsidy figure from the scheme appears on this page — the calculator counts no subsidy, and the page points readers to the official portal to check the current rules.
Check another plan before you start
Try different numbers — or run the same check with the related tools for your other plans.