Home Loan EMI Calculator: EMI, Total Interest and Yearly Schedule
Enter the home loan amount, the bank's interest rate and the tenure. You see the EMI, the total interest over the loan and how the balance falls each year.
- Nothing you type is stored
- Free
- No signup
Monthly EMI
₹26,035a month
- Total interest
- ₹32,48,327
- Total amount paid
- ₹62,48,327
Reducing-balance EMI for 240 months. Banks may round the EMI and adjust the last one slightly.
Year by year
| Year | Principal paid | Interest paid | Balance left |
|---|---|---|---|
| 1 | ₹59,707 | ₹2,52,709 | ₹29,40,293 |
| 2 | ₹64,984 | ₹2,47,432 | ₹28,75,309 |
| 3 | ₹70,728 | ₹2,41,688 | ₹28,04,580 |
| 4 | ₹76,980 | ₹2,35,436 | ₹27,27,600 |
| 5 | ₹83,785 | ₹2,28,632 | ₹26,43,815 |
| 6 | ₹91,190 | ₹2,21,226 | ₹25,52,625 |
| 7 | ₹99,251 | ₹2,13,166 | ₹24,53,374 |
| 8 | ₹1,08,024 | ₹2,04,393 | ₹23,45,351 |
| 9 | ₹1,17,572 | ₹1,94,844 | ₹22,27,779 |
| 10 | ₹1,27,964 | ₹1,84,452 | ₹20,99,815 |
| 11 | ₹1,39,275 | ₹1,73,141 | ₹19,60,540 |
| 12 | ₹1,51,586 | ₹1,60,831 | ₹18,08,954 |
| 13 | ₹1,64,985 | ₹1,47,432 | ₹16,43,969 |
| 14 | ₹1,79,568 | ₹1,32,849 | ₹14,64,402 |
| 15 | ₹1,95,440 | ₹1,16,977 | ₹12,68,962 |
| 16 | ₹2,12,715 | ₹99,701 | ₹10,56,247 |
| 17 | ₹2,31,517 | ₹80,899 | ₹8,24,730 |
| 18 | ₹2,51,981 | ₹60,435 | ₹5,72,749 |
| 19 | ₹2,74,254 | ₹38,163 | ₹2,98,495 |
| 20 | ₹2,98,495 | ₹13,921 | ₹0 |
How to use
- Enter the loan amount you need, for example ₹30 lakh.
- Enter the interest rate offered by the bank and the tenure in years.
- Open More options to add the processing fee or switch to a month-by-month schedule.
Good to know
Home loans in India are almost always on a reducing balance: each EMI pays the month's interest first and the rest reduces the principal. That is why the early years are mostly interest and the later years mostly principal; the yearly table shows this clearly.
Most home loans are linked to the repo rate (EBLR), so your rate and EMI can change when RBI changes the repo rate. Banks usually keep the EMI the same and stretch the tenure when rates go up. Re-check with the new rate whenever your bank writes to you.
Under the old tax regime, interest up to ₹2 lakh a year on a self-occupied home and principal under the ₹1.5 lakh deduction (80C) can reduce tax. This calculator does not include tax benefits, insurance bundled with the loan or GST on fees.
Questions
How is home loan EMI calculated?
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan, r the monthly rate (yearly rate ÷ 12 ÷ 100) and n the number of months.
Is a longer tenure better?
A longer tenure lowers the EMI but raises the total interest a lot. For ₹30 lakh at 8.5%, 30 years costs about ₹53 lakh in interest against about ₹32 lakh for 20 years.
How much home loan will the bank give me?
Banks lend up to 75%–90% of the property value and only if the EMI fits your income. Use the loan eligibility calculator to estimate it.
Should I prepay my home loan?
Part-payments early in the loan save the most interest. Floating-rate home loans to individuals have no prepayment charge. Try the loan prepayment calculator.
Is my data stored?
No. All calculations run in your browser.