Home Loan EMI Calculator
Calculate your home loan EMI in seconds. Enter the property value, down payment, interest rate and tenure to see your monthly EMI, total interest and a year-by-year repayment schedule - for any bank, including SBI, HDFC and ICICI.
Total cost of home = down payment + total loan repayment (excludes stamp duty and registration).
What is a Home Loan EMI Calculator?
A home loan EMI calculator is a free online tool that shows the Equated Monthly Instalment you will pay on a housing loan before you apply. Enter the property value, your down payment, the interest rate and the loan tenure, and it instantly tells you your monthly EMI, the total interest and how your loan is repaid year by year.
It works for home loans from any bank or housing finance company - just use the rate and tenure your lender quotes. It also checks your loan against RBI's loan-to-value limits, so you know the minimum down payment before you start house-hunting.
Home Loan Repayment Schedule
Year by Year| Year | Principal Paid | Interest Paid | Outstanding Balance |
|---|
How is Home Loan EMI Calculated?
Your loan amount is the property value minus your down payment. The EMI on that amount is worked out with the standard reducing-balance formula used by every bank:
Home Loan EMI Example:
You borrow ₹50,00,000 at 8.5% p.a. for 20 years:
- Monthly EMI: ₹43,391
- Total Interest: ₹54,13,879
- Total Repayment: ₹1,04,13,879
Home Loan EMI Calculator for SBI, HDFC, ICICI & All Banks
Every bank and housing finance company calculates EMI with the same reducing-balance formula, so this one home loan calculator gives the same EMI as your lender's own. Enter the interest rate and tenure from your sanction letter or the lender's website and it works as an SBI home loan EMI calculator, an HDFC home loan EMI calculator, or one for any of the lenders below.
- SBI
- HDFC Bank
- ICICI Bank
- Axis Bank
- Punjab National Bank
- Bank of Baroda
- Canara Bank
- LIC Housing Finance
- Union Bank of India
- Bank of India
- Indian Bank
- Bank of Maharashtra
- Indian Overseas Bank
- UCO Bank
- Kotak Mahindra Bank
- IDFC FIRST Bank
Your actual EMI can differ by a few rupees if the lender adds processing fees or insurance to the loan, or charges interest from the disbursement date before EMIs start (pre-EMI).
Home Loan EMI for ₹10 Lakh to ₹1 Crore
Monthly EMI at 8.5% interest for the most common loan sizes - from a ₹20 lakh, ₹30 lakh or ₹50 lakh home loan up to ₹1 crore - over 10, 15, 20 and 30 years.
| Loan Amount | 10 Years | 15 Years | 20 Years | 30 Years |
|---|---|---|---|---|
| ₹10 Lakh home loan | ₹12,399 | ₹9,847 | ₹8,678 | ₹7,689 |
| ₹15 Lakh home loan | ₹18,598 | ₹14,771 | ₹13,017 | ₹11,534 |
| ₹20 Lakh home loan | ₹24,797 | ₹19,695 | ₹17,356 | ₹15,378 |
| ₹25 Lakh home loan | ₹30,996 | ₹24,618 | ₹21,696 | ₹19,223 |
| ₹30 Lakh home loan | ₹37,196 | ₹29,542 | ₹26,035 | ₹23,067 |
| ₹35 Lakh home loan | ₹43,395 | ₹34,466 | ₹30,374 | ₹26,912 |
| ₹40 Lakh home loan | ₹49,594 | ₹39,390 | ₹34,713 | ₹30,757 |
| ₹45 Lakh home loan | ₹55,794 | ₹44,313 | ₹39,052 | ₹34,601 |
| ₹50 Lakh home loan | ₹61,993 | ₹49,237 | ₹43,391 | ₹38,446 |
| ₹60 Lakh home loan | ₹74,391 | ₹59,084 | ₹52,069 | ₹46,135 |
| ₹70 Lakh home loan | ₹86,790 | ₹68,932 | ₹60,748 | ₹53,824 |
| ₹80 Lakh home loan | ₹99,189 | ₹78,779 | ₹69,426 | ₹61,513 |
| ₹1 Crore home loan | ₹1,23,986 | ₹98,474 | ₹86,782 | ₹76,891 |
Home Loan EMI per ₹1 Lakh
A quick way to estimate your EMI: find your interest rate and tenure below, then multiply by your loan amount in lakhs. For a ₹45 lakh loan, multiply the figure by 45.
| Interest Rate | 10 Years | 15 Years | 20 Years | 25 Years | 30 Years |
|---|---|---|---|---|---|
| 8% | ₹1,213 | ₹956 | ₹836 | ₹772 | ₹734 |
| 8.5% | ₹1,240 | ₹985 | ₹868 | ₹805 | ₹769 |
| 9% | ₹1,267 | ₹1,014 | ₹900 | ₹839 | ₹805 |
| 9.5% | ₹1,294 | ₹1,044 | ₹932 | ₹874 | ₹841 |
| 10% | ₹1,322 | ₹1,075 | ₹965 | ₹909 | ₹878 |
| 11% | ₹1,378 | ₹1,137 | ₹1,032 | ₹980 | ₹952 |
How Loan Tenure Changes Your Home Loan EMI
For a ₹50,00,000 home loan at 8.5%: a longer tenure makes each EMI smaller, but over 30 years you can pay back more in interest than you borrowed.
| Tenure | Monthly EMI | Total Interest |
|---|---|---|
| 10 Years | ₹61,993 | ₹24,39,141 |
| 15 Years | ₹49,237 | ₹38,62,656 |
| 20 Years | ₹43,391 | ₹54,13,879 |
| 25 Years | ₹40,261 | ₹70,78,406 |
| 30 Years | ₹38,446 | ₹88,40,443 |
Home Loan Prepayment: Reduce EMI or Tenure?
For a ₹50,00,000 home loan at 8.5% over 20 years. A prepayment goes straight to the principal, and keeping the EMI unchanged so the tenure shrinks saves the most interest. Floating-rate home loans carry no prepayment charges for individual borrowers.
| Plan | Monthly EMI | Tenure | Total Interest | Interest Saved |
|---|---|---|---|---|
| No prepayment | ₹43,391 | 20 yr | ₹54,13,879 | - |
| ₹5 Lakh after year 1, keep EMI (shorter tenure) | ₹43,391 | 16 yr | ₹38,10,188 | ₹16,03,691 |
| ₹5 Lakh after year 1, keep tenure (lower EMI) | ₹38,964 | 20 yr | ₹49,04,471 | ₹5,09,408 |
| One extra EMI every year | ₹43,391 | 16 yr 9 mo | ₹43,84,740 | ₹10,29,139 |
Home Loan Eligibility: How Much Loan Can I Get?
Lenders usually let your EMIs take up to about half of your take-home pay. Assuming no other loans, this is roughly how much home loan each monthly income supports at 8.5% over 20 years. Existing EMIs reduce it rupee for rupee; a co-borrower's income adds to it.
| Monthly Net Income | Affordable EMI (50%) | Approximate Loan Eligibility |
|---|---|---|
| ₹30,000 | ₹15,000 | ₹17,28,463 |
| ₹50,000 | ₹25,000 | ₹28,80,771 |
| ₹75,000 | ₹37,500 | ₹43,21,156 |
| ₹1,00,000 | ₹50,000 | ₹57,61,542 |
| ₹1,50,000 | ₹75,000 | ₹86,42,313 |
| ₹2,00,000 | ₹1,00,000 | ₹1,15,23,084 |
An estimate only - lenders also weigh your age, credit score, job stability and the property's value.
Home Loan Down Payment: RBI Loan-to-Value Limits
Banks cannot lend the full price of a home. RBI caps the loan at a share of the property's value, which sets the smallest down payment you can make. The calculator above warns you when your loan crosses the limit.
| Loan Amount | Maximum Loan (LTV) | Minimum Down Payment |
|---|---|---|
| Up to ₹30 lakh | 90% | 10% |
| ₹30 lakh to ₹75 lakh | 80% | 20% |
| Above ₹75 lakh | 75% | 25% |
Stamp duty and registration charges are generally not financed and are paid from your own funds on top of the down payment.
Fixed vs Floating Rate Home Loan
| Feature | Fixed Rate | Floating Rate |
|---|---|---|
| Interest rate | Stays the same for the fixed period | Moves with the lender's benchmark |
| Starting rate | Usually 1-2.5% higher | Lower |
| EMI | Predictable | Can rise or fall (or the tenure changes) |
| Prepayment charges | Lenders may charge | Nil for individual borrowers |
| Suits | Borrowers who expect rates to rise | Most long-tenure home loans |
Typical market terms; exact rates and charges vary by lender and your profile.
Home Loan Tax Benefits
Under the old tax regime, a home loan lowers your taxable income in two ways. The new tax regime does not allow these deductions for a self-occupied house.
Interest paid
Deduction of up to ₹2 lakh a year on home loan interest for a self-occupied house. For a let-out property the interest is fully deductible, with the overall house-property loss set-off capped at ₹2 lakh.
Principal repaid
Principal repayment, stamp duty and registration charges count towards the ₹1.5 lakh 80C limit, shared with PPF, ELSS, EPF and the rest.
Both co-owners claim
When co-owners are also co-borrowers, each can claim the 24(b) and 80C deductions separately on their share.
Home Loan Eligibility
Documents Required for a Home Loan
- Identity proof - PAN card, Aadhaar, passport or voter ID
- Address proof - Aadhaar, utility bill, passport or rent agreement
- Income proof - latest salary slips and Form 16, or 2-3 years of ITRs for the self-employed
- Bank statements for the last 6 months
- Property papers - sale agreement, title deed, approved plan and NOC from the builder or society
- Passport-size photographs and a filled application form
6 Ways to Reduce Your Home Loan EMI
Make a bigger down payment
Every rupee paid upfront saves years of interest on it - and keeps you well inside RBI's LTV limits.
Improve your credit score
A score above 750 can lower your rate by enough to save lakhs over a 20-year loan.
Prepay early
Interest is front-loaded, so part-prepayments in the first years cut the most interest. Floating-rate loans carry no prepayment charge.
Add a co-borrower
An earning spouse or parent as co-applicant raises eligibility, and both can claim tax benefits.
Consider a balance transfer
If another lender offers a meaningfully lower rate, moving the loan can cut your EMI - weigh it against fees.
Pick the shortest tenure you can afford
A longer tenure lowers the EMI but raises total interest sharply - see the tenure table above.
Comparing loans? Try the general EMI calculator or the car loan EMI calculator.
Frequently asked questions
Everything you need to know — from what we do to how we do it — in one quick FAQ section.
OPEN ACCOUNTHome loan EMI is calculated with the formula EMI = P × r × (1 + r)^n / ((1 + r)^n − 1), where P is the loan amount (property value minus down payment), r is the monthly interest rate and n is the tenure in months. The GoPocket home loan EMI calculator applies it instantly as you move the sliders.
