Home Loan EMI Calculator
Free home loan EMI calculator for India. Enter loan amount, interest rate and tenure to see your monthly EMI, total interest and the full cost of the loan, in rupees.
Your EMI — equated monthly instalment — is the fixed amount you pay the lender every month until the loan is cleared. It bundles interest and principal together, so the payment never changes even though the split inside it does: early EMIs are mostly interest, later ones are mostly principal.
Move the sliders below to see how loan amount, interest rate and tenure change the monthly outgo. The number that surprises most buyers is not the EMI, it is the total interest — on a typical 20-year loan you often repay close to double what you borrowed.
How the EMI is calculated
Lenders use the standard reducing-balance formula:
EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1)
where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments.
A worked example
Take a ₹50,00,000 loan at 8.5% for 20 years. The monthly rate is 8.5 ÷ 12 ÷ 100 = 0.00708, and n = 240 instalments. That gives an EMI of about ₹43,391. Over 240 months you pay roughly ₹1.04 crore in total — about ₹54 lakh of interest on top of the ₹50 lakh you borrowed.
What actually moves the number
- Tenure has the biggest effect on total interest. Stretching the same ₹50 lakh loan from 20 to 30 years drops the EMI by roughly ₹5,000 a month but adds around ₹30 lakh of interest.
- Rate changes bite hardest early. A 0.5% rise on a fresh 20-year loan costs about ₹1,600 a month; the same rise in year 18 barely registers.
- Most Indian home loans are floating rate, repo-linked since October 2019. Your EMI is a forecast, not a contract — when the repo rate moves, banks usually hold the EMI and change the tenure instead.
EMI on a home loan at 8.5% — by amount and tenure
Monthly EMI in rupees at 8.5% a year, the rate most Indian lenders were quoting salaried borrowers in 2026. Move the sliders above for your own rate — a single percentage point changes a ₹50 lakh EMI by roughly ₹3,000 a month.
| Loan amount | 10 yr | 15 yr | 20 yr | 25 yr | 30 yr |
|---|---|---|---|---|---|
| ₹10 L | ₹12,399 | ₹9,847 | ₹8,678 | ₹8,052 | ₹7,689 |
| ₹15 L | ₹18,598 | ₹14,771 | ₹13,017 | ₹12,078 | ₹11,534 |
| ₹20 L | ₹24,797 | ₹19,695 | ₹17,356 | ₹16,105 | ₹15,378 |
| ₹25 L | ₹30,996 | ₹24,618 | ₹21,696 | ₹20,131 | ₹19,223 |
| ₹30 L | ₹37,196 | ₹29,542 | ₹26,035 | ₹24,157 | ₹23,067 |
| ₹35 L | ₹43,395 | ₹34,466 | ₹30,374 | ₹28,183 | ₹26,912 |
| ₹40 L | ₹49,594 | ₹39,390 | ₹34,713 | ₹32,209 | ₹30,757 |
| ₹50 L | ₹61,993 | ₹49,237 | ₹43,391 | ₹40,261 | ₹38,446 |
| ₹60 L | ₹74,391 | ₹59,084 | ₹52,069 | ₹48,314 | ₹46,135 |
| ₹70 L | ₹86,790 | ₹68,932 | ₹60,748 | ₹56,366 | ₹53,824 |
| ₹75 L | ₹92,989 | ₹73,855 | ₹65,087 | ₹60,392 | ₹57,669 |
| ₹80 L | ₹99,189 | ₹78,779 | ₹69,426 | ₹64,418 | ₹61,513 |
| ₹1 Cr | ₹1,23,986 | ₹98,474 | ₹86,782 | ₹80,523 | ₹76,891 |
| ₹1.5 Cr | ₹1,85,979 | ₹1,47,711 | ₹1,30,173 | ₹1,20,784 | ₹1,15,337 |
| ₹2 Cr | ₹2,47,971 | ₹1,96,948 | ₹1,73,565 | ₹1,61,045 | ₹1,53,783 |
Figures are the standard EMI formula at 8.5% and exclude processing fees, insurance and any pre-EMI on an under-construction property. A floating-rate loan will not hold this EMI for its whole term.
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Create your free property pageFrequently asked questions
Is the EMI fixed for the whole loan?
Only on a fixed-rate loan. Most Indian home loans are floating and linked to the RBI repo rate. When rates move, lenders typically keep the EMI the same and lengthen or shorten your tenure — so check your amortisation statement each year rather than assuming the end date is fixed.
How much home loan can I get on my salary?
Lenders usually cap total EMIs at 40–55% of net monthly income, and the loan at 75–90% of the property value. Use the home loan eligibility calculator to see the figure for your income and existing EMIs.
Does a longer tenure save money?
No. A longer tenure lowers the monthly EMI but increases the total interest substantially, because you owe the balance for longer. Take the longest tenure you can get for safety, then prepay when you have surplus — you get the low committed EMI and a short effective loan.
What is the difference between reducing balance and flat rate?
Reducing balance charges interest only on the outstanding principal, which falls every month — this is what home loans use. A flat rate charges interest on the original amount for the whole tenure, so a "flat 8%" is roughly equivalent to 14–15% reducing. Always compare on reducing balance.
Are processing fees included in this EMI?
No. Processing fees (typically 0.25–1% of the loan, often capped), legal and valuation charges, and any insurance are separate. Some lenders let you add them to the loan, which quietly increases your principal and EMI.
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