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Home Loan EMI Calculator

Reducing balance method for accurate bank-grade calculations

₹
%
Yrs

Monthly EMI

₹43,391

Estimated Monthly Repayment

Total Interest

₹54L

52.0%

Total Payment

₹104L

Principal + Int.

Annual Balance Timeline

Year 1

₹49L

Year 2

₹48L

Year 3

₹47L

Year 4

₹45L

Year 5

₹44L

Year 6

₹43L

Year 7

₹41L

Year 8

₹39L

Year 9

₹37L

Year 10

₹35L

Year 11

₹33L

Year 12

₹30L

Year 13

₹27L

Year 14

₹24L

Year 15

₹21L

Year 16

₹18L

Year 17

₹14L

Year 18

₹10L

Year 19

₹5L

Year 20

₹0L

₹

Tax Benefits

Under Sec 24(b), you can claim up to ₹2 Lakh interest deduction per annum.

Wealth Tip

Paying just 1 extra EMI every year can reduce your tenure by 4-5 years!

DISCLAIMER: These calculations are for illustrative purposes only and do not constitute professional financial advice. Actual returns or terms may vary based on market conditions or institution policies.

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Using the Home Loan EMI Calculator

Calculate your home loan EMI with our bank-grade reducing balance calculator. Plan your repayment with amortization schedules and charts.

Latest RBI Rates
Updated Dec 2025 | FY 2025-26 Compliant
Logic VerifiedCross-verified with SBI/RBI Calculator

Key Features

Home Loan EMI Calculator Online Calculator India - Result Preview and Financial Dashboard
  • •Calculates monthly EMI based on Loan Amount, Interest Rate, and Tenure
  • •Supports large loan amounts common in Indian metro cities
  • •Provides a detailed yearly and monthly amortization schedule
  • •Highlights the total interest paid over the entire loan life
  • •Includes an interactive chart for easy visualization of loan balance
  • •Fast, simple, and mobile-friendly for on-the-go planning

How to calculate Home Loan EMI Calculator

Step-by-step Guide & Informational Intent

  1. 1.Input the 'Principal Amount' (The total loan you want to borrow).
  2. 2.Enter the 'Annual Interest Rate' offered by your bank in %.
  3. 3.Select the 'Loan Tenure' in years (typically up to 20 or 30 years).
  4. 4.The calculator will instantly show your 'Monthly EMI' and 'Total Interest'.
  5. 5.Scroll down to see the full repayment schedule and yearly breakdown.

How the Calculation Works

Home Loan EMI Calculator Mathematical Formula and Calculation Logic - Official India Standards
EMI = [P × r × (1+r)^n] / [(1+r)^n - 1]

The EMI is calculated using the standard formula: [P x R x (1+R)^N]/[(1+R)^N-1], where P is the principal, R is the monthly interest rate, and N is the duration in months. Most Indian banks use this reducing balance method.

Important Assumptions

  • • Interest is compounded monthly
  • • Monthly payments are made at the end of each period
  • • Does not account for processing fees or insurance costs
  • • Assumes a constant interest rate throughout the tenure
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Home Buying Scenarios

₹50 Lakh Loan: At 8.5% for 20 years, your monthly EMI would be approximately ₹43,391.
Total Interest: On a ₹50 Lakh loan for 20 years, you actually pay back over ₹1 Crore in total (Principal + Interest).
Tenure Impact: Reducing the tenure from 20 to 15 years increases EMI but saves you Lakhs in interest outgo.
Rate Sensitivity: Even a 0.5% drop in interest rates can save you over ₹4-5 Lakh on a large long-term loan.
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Home Loan EMI Calculator

Calculate your home loan EMI with our bank-grade reducing balance calculator. Plan your repayment with amortization schedules and charts.

Most Indian banks use the 'Reducing Balance Method'. The interest is calculated on the outstanding principal at the end of every month, meaning as you pay your EMIs, the interest component decreases and the principal component increases.
Yes, under Section 24(b) of the Income Tax Act, you can claim a deduction of up to ₹2 Lakh per annum on the interest paid for a self-occupied property. This benefit is only available under the Old Tax Regime.
The principal component of your Home Loan EMI is eligible for a deduction of up to ₹1.5 Lakh per year under Section 80C. Note that this is a shared limit with other investments like EPF and Life Insurance.
As per RBI mandates, Indian banks and HFCs cannot charge any prepayment or foreclosure penalties on floating-rate home loans. However, fixed-rate loans may still carry a penalty (usually 2-3%).
Floating rates are usually lower and follow market trends (linked to RLLR or MCLR), making them popular in India. Fixed rates offer stability but are higher and may not benefit from future RBI repo rate cuts.
No, it is not legally mandatory to buy Home Loan protection insurance (Term Insurance) to get a loan. However, most banks strongly recommend it to protect your family from the debt burden in unforeseen circumstances.