Free tool
Home Loan EMI Calculator
See your monthly EMI, the total interest you will pay and how much a yearly prepayment saves — with a full repayment schedule, in lakh and crore.
Amortisation schedule
Year-by-year repayment
Tap a year to see its 12 monthly instalments.
| Year | Principal | Interest | Prepaid | Balance | Paid off |
|---|
How to use
How to use the home loan emi calculator
- Enter the loan amount — the amount you will borrow, not the property price. Most banks lend 75–90% of the property value.
- Set the interest rate and tenure. Use the rate on your sanction letter if you have one; otherwise start with the default and adjust.
- Try a prepayment. Add a yearly or one-time part-payment (a bonus, for example) and see the interest saved and how many years come off the loan.
- Read the schedule. Open any year to see how each EMI splits between interest and principal.
- Copy or share the result — the link keeps your numbers.
The maths
How it’s calculated
Banks in India use the standard reducing-balance formula:
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
P = loan amount
r = annual rate ÷ 12 ÷ 100 (monthly rate)
n = tenure in months
Each month, interest = outstanding balance × r and the rest of the EMI repays principal. That is why early EMIs are mostly interest. A prepayment cuts the balance directly, so every later month carries less interest and the loan ends sooner.
Worked example
₹30 lakh at 8.5% for 20 years
P = ₹30,00,000, r = 8.5 ÷ 12 ÷ 100 = 0.0070833, n = 240 months, so (1 + r)ⁿ = 5.4412.
EMI = 30,00,000 × 0.0070833 × 5.4412 ÷ 4.4412 = ₹26,035 a month.
- Total paid over 20 years: ₹62.48 L — of which interest is ₹32.48 L.
- Month 1: interest ₹21,250, principal only ₹4,785.
- Prepay ₹1 lakh at the end of every year and the loan closes in about 11 years 9 months, saving roughly ₹14.84 L in interest.
EMI per ₹1 lakh — quick reference
| Rate | 10 yrs | 15 yrs | 20 yrs | 25 yrs | 30 yrs |
|---|---|---|---|---|---|
| 7.5% | ₹1,187 | ₹927 | ₹806 | ₹739 | ₹699 |
| 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 |
EMI for every ₹1,00,000 borrowed. Multiply by your loan in lakh — e.g. a ₹40 lakh loan at 8.5% for 20 years ≈ 40 × ₹868 = ₹34,713.
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Read more →FAQ
Home Loan EMI Calculator: common questions
How is home loan EMI calculated?
Should a prepayment reduce my EMI or my tenure?
Is there a penalty for prepaying a home loan?
What interest rate should I use?
How much home loan can I get?
Budgeting for the interiors as well?
Most home buyers in Raipur and Bhopal plan interiors alongside the loan. We will give you a clear, itemised estimate before you commit.
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