Home Loan Calculator

Enter a loan amount between Rs. 1,00,000 and Rs. 10,00,00,000.
Enter a rate between 0.5% and 15%.
Enter a tenure between 1 and 30 years.
Prepayment amount must be 0 or more.
Enter which year the prepayment is made in.
Monthly EMI Rs. 0
Total Interest Payable Rs. 0
Total Payment (Principal + Interest) Rs. 0
Tenure comparison (same loan & rate)
TenureEMITotal Interest
Year-by-year breakdown
YearPrincipal PaidBalance Left
Estimate only, for general planning purposes. Not financial advice; actual EMI may vary based on lender terms and rate changes.

What This Tool Does

Enter your loan amount, interest rate, and tenure, and this tool shows your monthly EMI along with the total interest you'll pay over the loan's life. It also lets you test how an extra monthly payment could shorten your loan.

You can also use EMI Calculator.

How It's Calculated

EMI (Equated Monthly Installment) is the fixed amount paid each month until a home loan is fully repaid — part interest, part principal.

E = P × r × (1 + r)^n / ((1 + r)^n − 1)

  • P = loan amount
  • r = monthly interest rate (annual rate ÷ 12 ÷ 100)
  • n = tenure in months
  • E = monthly EMI

Example: ₹40,00,000 borrowed at 8.5% annual interest over 20 years (240 months).

  • Monthly rate: 8.5 ÷ 12 ÷ 100 = 0.00708
  • EMI ≈ ₹34,700/month
  • Total paid over 20 years: ~₹83,28,000
  • Total interest: ~₹43,28,000

Why the Payment Split Shifts Over Time

The EMI stays fixed, but what it covers changes. Interest is charged on the outstanding balance, which is highest early on — so most of each payment covers interest at first. As the balance drops, a bigger share goes toward principal instead.

Extra Payments Add Up

Paying even a small amount above your EMI each month goes straight toward principal, since it's not part of the scheduled installment. That shrinks the balance faster, which lowers future interest — often cutting years off the loan and saving a meaningful amount in total interest.

Fixed vs. Floating Rate

A fixed-rate loan keeps the same EMI for its entire term. A floating-rate loan can change if the lender's benchmark rate moves.

If your loan is floating-rate, it's worth checking your EMI at rates 1% above and below your current one. A 1–2% swing can noticeably change your monthly payment over a 15–20 year tenure.

Who Uses This

  • Comparing monthly payments across different loan amounts or tenures before applying
  • Checking whether a home loan fits comfortably into a monthly budget
  • Testing how extra payments shorten the loan and reduce total interest
  • Estimating total loan cost, not just the EMI

EMI vs. Total Cost of the Loan

EMI only shows the monthly figure. To see the real cost, multiply EMI by the number of months, then subtract the loan amount — that's your total interest. A longer tenure lowers the EMI but usually raises total interest paid.

FAQs

Does a longer tenure always mean a lower EMI? Yes, but it increases the total interest paid over the loan's life.

How much can extra payments actually save? It depends on the loan size, rate, and when you start — but even small, consistent extra payments can cut years off a long-tenure loan.

Does this include processing fees or other charges? No. It calculates EMI based on loan amount, rate, and tenure only.

Why did my EMI change on a floating-rate loan? The lender's benchmark rate likely moved, adjusting your rate and monthly payment.

Is a shorter tenure always the better choice? It usually means less total interest, but only if the higher monthly payment is comfortably affordable.

Try It Above

Enter your loan amount, rate, and tenure to see your EMI and full breakdown instantly. This is a planning estimate only, not a loan offer.