Home Loan EMI Calculator
Know your EMI, see the real interest cost over the years, and discover simple tricks that save lakhs — the way a good banker uncle would explain it.
Type a value (e.g. 60 = ₹60 L, 1.2 = ₹1.2 Cr) or drag the slider
Banks typically fund 75–90% of the property value
Your Monthly EMI
₹41,656
for 20 years on a ₹48.0 L loan @ 8.50%
Total Interest
₹52.0 L
Total You Pay
₹100.0 L
💡 Smart ways to save on this loan
Small changes today, lakhs saved over the tenure:
Choose 15 years instead of 20
EMI becomes ₹47,267 (+₹5,612/mo)
A shorter tenure costs a little more each month but cuts your interest sharply.
You save
₹14.9 L
Pay just ONE extra EMI every year
Same EMI of ₹41,656, one extra payment annually
Your loan closes ~3.3 years early. Use your yearly bonus for this.
You save
₹9.9 L
Increase your EMI by 10%
EMI becomes ₹45,821 (+₹4,166/mo)
Closes ~4.0 years early — ideal when your salary grows.
You save
₹12.0 L
Indicative calculations assuming a constant interest rate; actual bank terms may vary. Prepayment on floating-rate home loans carries no penalty in India.
Found your budget?
Browse properties that fit an EMI of ₹41,656 — or WhatsApp us at +91 90259 03041 for the best loan rates from our banking partners.
Frequently asked questions
How is home loan EMI calculated?▾
EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the tenure in months. For example, a ₹50 lakh loan at 8.5% for 20 years gives an EMI of about ₹43,391.
Does prepaying a home loan have penalties in India?▾
No. The RBI prohibits prepayment penalties on floating-rate home loans for individual borrowers. You can prepay any amount at any time; paying one extra EMI per year typically closes a 20-year loan about 3 years early.
Is a shorter or longer tenure better for a home loan?▾
A shorter tenure has a higher EMI but dramatically lower total interest. On a ₹50 lakh loan at 8.5%, choosing 15 years instead of 20 raises the EMI by roughly ₹5,850 but saves about ₹15.5 lakh in interest.
How much home loan can I get on my salary?▾
Most banks cap total EMIs at 40–50% of net monthly income. As a working rule, your eligible loan is roughly 60× your net monthly salary at current rates, subject to credit score, age and existing obligations.