Home Loan EMI Calculator

Find the monthly EMI on your home loan and the total interest you will pay over 15, 20 or 30 years.

Home Loan EMI Calculator

Work out the monthly EMI, total interest and full repayment schedule for a home, car or personal loan.

Home loan Car loan Personal loan

Loan amount

₹

₹30 lakh

Interest rate (per year)

%

Loan tenure

YearsMonths

Monthly EMI ₹26,035

Monthly EMI₹26,035

Principal amount

₹30,00,000₹30 lakh

Total interest

₹32,48,327₹32.48 lakh

Total amount payable

₹62,48,327₹62.48 lakh

Results are estimates for educational purposes only and are not financial, tax or legal advice. For more details, do consult a lawyer or a subject-matter expert.

Principal vs interest

View chart data as a table

Principal vs interest

Principal	₹30,00,000
Interest	₹32,48,327

Year-wise amortisation schedule

Tap a year to see its monthly breakdown. Amounts in the schedule are shown to the paisa.

Year	Principal	Interest	Total paid	Balance
1	₹59,706.88	₹2,52,709.49	₹3,12,416.36	₹29,40,293.12
2	₹64,984.42	₹2,47,431.94	₹3,12,416.36	₹28,75,308.70
3	₹70,728.45	₹2,41,687.91	₹3,12,416.36	₹28,04,580.25
4	₹76,980.20	₹2,35,436.16	₹3,12,416.36	₹27,27,600.05
5	₹83,784.55	₹2,28,631.81	₹3,12,416.36	₹26,43,815.49
6	₹91,190.35	₹2,21,226.02	₹3,12,416.36	₹25,52,625.15
7	₹99,250.74	₹2,13,165.62	₹3,12,416.36	₹24,53,374.40
8	₹1,08,023.61	₹2,04,392.76	₹3,12,416.36	₹23,45,350.79
9	₹1,17,571.91	₹1,94,844.45	₹3,12,416.36	₹22,27,778.88
10	₹1,27,964.20	₹1,84,452.16	₹3,12,416.36	₹20,99,814.68
11	₹1,39,275.07	₹1,73,141.29	₹3,12,416.36	₹19,60,539.61
12	₹1,51,585.72	₹1,60,830.64	₹3,12,416.36	₹18,08,953.89
13	₹1,64,984.52	₹1,47,431.84	₹3,12,416.36	₹16,43,969.37
14	₹1,79,567.65	₹1,32,848.71	₹3,12,416.36	₹14,64,401.72
15	₹1,95,439.80	₹1,16,976.57	₹3,12,416.36	₹12,68,961.92
16	₹2,12,714.90	₹99,701.46	₹3,12,416.36	₹10,56,247.02
17	₹2,31,516.96	₹80,899.40	₹3,12,416.36	₹8,24,730.06
18	₹2,51,980.96	₹60,435.41	₹3,12,416.36	₹5,72,749.10
19	₹2,74,253.78	₹38,162.58	₹3,12,416.36	₹2,98,495.32
20	₹2,98,495.32	₹13,921.04	₹3,12,416.36	₹0.00

Explain this result

You borrow ₹30,00,000 at 8.50% a year for 20 years. Banks charge interest monthly, so the monthly rate is 8.50% ÷ 12.

The EMI formula is EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1), where P is the loan amount, r the monthly rate and n the number of months (240).

Your EMI stays the same every month, but its split changes: early EMIs are mostly interest, later ones mostly principal. Over the full tenure you pay ₹32,48,327 as interest – that is 51.99% of everything you repay (₹62,48,327).

Tip: a shorter tenure or part-prepayments sharply reduce the total interest.

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Frequently asked questions

How is EMI calculated?

EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the loan amount, r is the annual interest rate divided by 12 (as a decimal) and n is the tenure in months. For ₹10 lakh at 9% for 20 years the EMI is about ₹8,997.

Does a longer tenure reduce my EMI?

Yes, but you pay much more interest in total. Choose the shortest tenure whose EMI fits comfortably within your budget.

Is the EMI shown here exactly what my bank will charge?

It is a close estimate. Banks may round differently, add processing fees or insurance, or use a floating rate that changes over time.

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Worked example: ₹30 lakh home loan

At 8.5% for 20 years, the EMI on ₹30 lakh is about ₹26,035. You repay ₹62.48 lakh in total, so the interest (₹32.48 lakh) is more than the loan itself.

Loan	Rate	Tenure	EMI (approx.)
₹30 lakh	8.5%	20 years	₹26,035
₹50 lakh	8.5%	20 years	₹43,391

How to use it

1. Enter the loan amount (property price minus your down payment).
2. Enter the rate from your sanction letter.
3. Try 15, 20 and 25 years to see the trade-off between EMI and total interest.

Home loan tips for India

• Banks usually lend up to 75–90% of the property value; plan the down payment, stamp duty and registration separately.
• On a floating-rate loan taken by an individual, banks cannot charge a prepayment penalty under RBI rules.
• Under the old tax regime, interest on a self-occupied home loan can be deducted up to ₹2 lakh a year and principal under 80C. Check with the income tax calculator.

Next steps

Check how much you qualify for with the home loan eligibility calculator, then compare home loan interest rates across banks.