Home loan EMI calculator
Your EMI depends on three things: the loan amount, the interest rate and the tenure. A ₹60 lakh loan at 8.5% over 20 years works out to roughly ₹52,000 a month. Change any input below to see the EMI, the total interest you would pay, and how tenure changes the total cost.
Your numbers
- Monthly EMI
- ₹52,069
- Total interest
- ₹64.97 Lakh
- Total repayment
- ₹1.25 Cr
- Instalments
- 240
How tenure changes the cost
| Tenure | EMI | Total interest | Total repayment |
|---|---|---|---|
| 10 years | ₹74,391 | ₹29.27 Lakh | ₹89.27 Lakh |
| 15 years | ₹59,084 | ₹46.35 Lakh | ₹1.06 Cr |
| 20 years | ₹52,069 | ₹64.97 Lakh | ₹1.25 Cr |
| 25 years | ₹48,314 | ₹84.94 Lakh | ₹1.45 Cr |
| 30 years | ₹46,135 | ₹1.06 Cr | ₹1.66 Cr |
Indicative. Your bank's final rate, processing fee and insurance are not included.
Home loan FAQs
- How is a home loan EMI calculated?
- EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the principal, r is the monthly interest rate (annual rate divided by 12 and by 100) and n is the number of monthly instalments. Every EMI covers interest first, so the principal falls slowly in the early years.
- What loan amount will a bank sanction?
- Lenders typically fund up to 75–90% of the property value depending on the ticket size, and separately cap the EMI at roughly 40–50% of net monthly income. Stamp duty and registration are usually excluded from the sanctioned amount.
- Does a longer tenure reduce my EMI?
- Yes, but it raises total interest paid. Compare the total-interest figure at 15, 20 and 25 years before choosing — a shorter tenure with the same lender almost always costs far less overall.
- Do prepayments help?
- On a floating-rate home loan, lenders in India cannot charge a prepayment penalty to individual borrowers. Early prepayments cut interest sharply because they reduce principal while the interest component is still large.