Home Loan EMI Calculator
Enter your loan amount, interest rate and tenure to see your monthly EMI, total interest and total amount payable.
How the EMI calculator works
Your EMI (Equated Monthly Instalment) keeps every monthly payment the same across the loan. It is built from three things: the loan amount, the interest rate and the tenure.
- EMI = P · r · (1+r)ⁿ ⁄ ((1+r)ⁿ − 1)
- r = monthly interest rate = annual rate ÷ 12 ÷ 100
- n = number of months = tenure in years × 12
EMI per ₹1 lakh borrowed (at 8.5%)
| Tenure | EMI / ₹1 lakh |
|---|
| 10 years | ₹1,240 |
| 15 years | ₹985 |
| 20 years | ₹868 |
| 30 years | ₹769 |
Longer tenure lowers the EMI but raises total interest. Figures exclude processing fees and insurance.
Home Loan EMI calculator FAQ
How is home loan EMI calculated?›
Using the standard formula EMI = P·r·(1+r)ⁿ ⁄ ((1+r)ⁿ−1), where r is the monthly rate and n the number of months. The calculator does this for you instantly.
Does prepayment reduce EMI or tenure?›
Most banks let you choose: a part-prepayment can either lower your EMI or shorten the tenure. Shortening tenure usually saves the most interest.
Is the rate fixed or floating?›
Most Indian home loans are floating — the EMI can change when the rate changes. Use the current rate here for a realistic estimate.