Loans
Home Loan EMI Calculator
Estimate your home loan EMI and the true cost of your dream home.
₹50,00,000
8.5%
20 yr
Principal48%
Interest52%
Monthly EMI₹43.4K
Total Interest₹54.14 L
Total Payment₹1.04 Cr
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A home loan is usually the largest and longest loan most people take. This calculator estimates your monthly EMI, the total interest over the tenure, and the overall cost — helping you choose an affordable loan amount, rate and tenure.
How this calculator works
Enter the home loan amount, the interest rate offered by your bank, and the repayment tenure. The calculator uses the standard reducing-balance EMI method to show your monthly EMI, total interest and total payment.
The formula
EMI = [P × r × (1 + r)^n] / [(1 + r)^n − 1]- P
- = Home loan principal
- r
- = Monthly interest rate
- n
- = Tenure in months
Home loans typically use a floating rate linked to the RBI repo rate, so your EMI can change when rates move.
Worked example
Example: ₹50,00,000 at 8.5% for 20 years
Loan amount₹50,00,000
Interest rate8.5% p.a.
Tenure20 years
Monthly EMI ≈ ₹43,391, total interest ≈ ₹54.1 lakh, total payment ≈ ₹1.04 crore.
Key benefits
- Assess affordability before house-hunting
- Compare fixed vs floating and different tenures
- Understand how much interest a 20–30 year loan really costs
- Plan prepayments to save lakhs in interest
Smart tips
- Even a partial annual prepayment can cut years off the loan
- A higher down-payment lowers both EMI and total interest
- Check for the lowest repo-linked rate; negotiate the spread
- Claim tax benefits under Section 24(b) and 80C on your home loan
Frequently asked questions
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Explore all free financial calculators. Results are indicative estimates for information only and not investment, tax or legal advice.