Home Loan Calculator
Home loan EMI calculator
Work out the monthly instalment on a home loan, what it costs you in interest over the full term, and what the loan does not cover.
Monthly EMI
Where the money goes
Over the full term, split between what you borrowed and what it cost to borrow it.
| Year | Principal paid | Interest paid | Balance |
|---|
Showing every fifth year. Early instalments are mostly interest — after five years of a twenty-year loan you will typically have repaid under 15% of the principal, which is worth knowing before you plan to sell.
Assumptions
Stated, because a number you cannot check is a number you cannot trust.
Most Indian home loans are floating rate, so the EMI here is what you would pay if the rate never moved. A one-point rise on this loan would add roughly — a month.
What this does not include
The EMI is not the cost of buying. These land on top, and most are payable before you get the keys.
- Stamp duty & registrationRoughly 6–8% of value in UP. On this property, about —.
- GST5% on under-construction property. Nil once an occupancy certificate is issued.
- Processing fee0.25–1% of the loan, often negotiable and rarely negotiated.
- Maintenance & sinking fundMonthly, and it does not stop when the loan does.
- Parking, club and PLC chargesQuoted separately by most builders, and they add up.
- Property insuranceUsually bundled with the loan, sometimes as a single upfront premium.
On this property, expect roughly — in cash before the first EMI — down payment plus stamp duty, registration and fees. That figure catches more buyers out than the EMI does.
Related tools
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Common questions
How is the EMI calculated?
On a reducing balance: each instalment covers a month's interest on the outstanding amount, and whatever is left reduces the principal. Because the balance falls over time, the interest portion shrinks and the principal portion grows — which is why the early years barely dent what you owe.
Should I take a longer tenure for a lower EMI?
It lowers the monthly figure and raises the total considerably. Stretching a twenty-year loan to thirty cuts the EMI but adds substantially to lifetime interest. A longer tenure is a reasonable way to qualify for a loan you otherwise could not service, and an expensive way to buy comfort you can afford without it.
Does prepaying early make a difference?
A large one, because prepayment comes off the principal and every rupee removed stops accruing interest for the rest of the term. The same amount prepaid in year three saves far more than in year fifteen. Floating-rate home loans to individuals cannot carry a prepayment penalty under RBI rules.
Fixed or floating?
Most Indian home loans are floating and repriced against an external benchmark. Fixed-rate offers usually carry a higher starting rate and often revert to floating after an initial period. This calculator assumes the rate never moves, which no floating loan does.
What can I claim against tax?
Interest on a self-occupied property is deductible up to ₹2 lakh a year under Section 24(b), and principal repayment falls within the ₹1.5 lakh Section 80C limit shared with your other 80C investments. Rules change and depend on which tax regime you are in — worth confirming with an accountant rather than a calculator.