How to use the home loan emi calculator
- Enter the loan amount. The page starts with ₹50,00,000.
- Enter the interest rate per year. The page starts with 8.5 percent, an illustrative figure you should replace with your offer.
- Enter the tenure in years. The page starts with 20.
- Read the monthly EMI, total interest and total payment, then scroll the schedule or use Download CSV.
About this scenario
A home loan is usually the biggest and longest loan a household takes, often 15 to 30 years. Rates quoted for home loans in many markets have commonly sat somewhere between about 7 and 11 percent a year, but that range is illustrative only. Your lender, your profile and the date all change it, so type the rate from your own offer.
Worked example
The page opens with a loan of 50 lakh at 8.5 percent a year for 20 years. The monthly EMI comes to ₹43,391. Over 240 payments you repay ₹1,04,13,879, of which ₹54,13,879 is interest, so interest is 52 percent of everything you pay.
The first table keeps the rate at 8.5 percent and varies the tenure. The second keeps the tenure at 20 years and varies the rate.
| Tenure | 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 |
| Rate | EMI over 20 years | Total interest |
|---|---|---|
| 7.5% | ₹40,280 | ₹46,67,118 |
| 8.5% | ₹43,391 | ₹54,13,879 |
| 9.5% | ₹46,607 | ₹61,85,574 |
What to notice
Look at the first payment: ₹35,417 of the first ₹43,391 is interest and only ₹7,974 reduces the loan. That is why early prepayment saves so much. Shortening the term to 15 years raises the EMI to ₹49,237 but cuts the interest to ₹38,62,656. A rate one point higher, at 9.5 percent, lifts the 20 year EMI to ₹46,607.
Tips
- Ask the lender whether the rate is fixed or floating. A floating rate can change your EMI or your tenure later.
- Add processing fees, insurance and registration costs separately. This calculator covers principal and interest only.
- Use Download CSV to take the full 240 month schedule into a spreadsheet and test prepayments there.
- See also: emi calculator for car loan, emi calculator for personal loan, emi calculator, sip calculator.
Estimates only, not financial advice. Everything runs in your browser. Nothing you type is uploaded.