Loans

Link copied!

Home Loan Calculator

Estimate your home loan EMI, total interest and payout. Adjust any input below and your results update instantly.

Your details

Adjust the inputs below and your results update instantly.

Estimate tax benefit

Old tax regime only: Section 80C and 24(b) deductions.

Property value (₹)*

≈ ₹60.00 L

The total price of the home you're buying, before any down payment or loan.

₹10L₹5Cr

e.g. ₹60,00,000 for a 2BHK apartment

Down payment (%)*

The portion of the property value you'll pay upfront. Most lenders require at least 10–20% down.

10%50%

e.g. 20% down payment

Interest rate (% p.a.)*

The annual interest rate offered on your home loan, fixed or floating, whichever you've locked in.

6%12%

e.g. 8.5% for a home loan

Loan tenure (years)*

How long you'll take to repay the home loan in full.

530

e.g. 20 years

How these compare

vs. typical India long-term ranges

Interest rate: 8.5%

Typical home loan rate: 8–10%

Typical

Down payment: 20%

Typical down payment: 15–25%

Typical

These are example numbers. Edit any input on the left to see your own.

Your monthly EMI is

₹41,656

over 20 years

Down payment

₹12.00 L

Loan amount

₹48.00 L

Outstanding balance vs. interest paid

Outstanding balanceInterest paid so far

Principal vs. interest, by year

PrincipalInterest

How much of that year's EMI payments went toward principal vs interest. Hover a bar for exact figures.

Year-by-year amortization

"% of principal repaid" shows how much of your loan you've paid off by that year.

YearOutstanding balanceInterest paid so farStatus

1₹47.04 L₹4.04 L

2% loan repaid

2% of principal repaid

4₹43.64 L₹15.64 L

9% loan repaid

9% of principal repaid

7₹39.25 L₹26.24 L

18% loan repaid

18% of principal repaid

10₹33.60 L₹35.58 L

30% loan repaid

30% of principal repaid

13₹26.30 L₹43.29 L

45% loan repaid

45% of principal repaid

16₹16.90 L₹48.88 L

65% loan repaid

65% of principal repaid

19₹4.78 L₹51.75 L

90% loan repaid

90% of principal repaid

20₹0₹51.97 L

100% loan repaid

100% of principal repaid

Compare scenarios

See how down payment and rate changes move your EMI.

Your plan

20% down · 8.5%

₹41,656

Monthly EMI

Baseline

Down payment 30%

₹18.00 L down · 8.5%

₹36,449

Monthly EMI

-₹5,207

Rate +1%

20% down · 9.5%

₹44,742

Monthly EMI

+₹3,087

Worked example, using your numbers

A step-by-step walkthrough of how your property becomes your EMI.

Step 1 · Loan amount

After a ₹12.00 L down payment on your ₹60.00 L property, your loan amount is

₹48.00 L

Step 2 · Monthly rate

Your 8.5% annual rate converts to a monthly rate of

0.708%

Step 3 · EMI formula

Applying the EMI formula across 240 monthly instalments gives you

₹41,656

✓

Your ₹60.00 L property needs an EMI of ₹41,656, a total interest cost of ₹51.97 L over 20 years.

Personalised insights

What your numbers reveal, and what changing them would do.

Your ₹60.00 L property needs a ₹48.00 L loan

After a ₹12.00 L (20%) down payment, that's an EMI of ₹41,656 at 8.5% over 20 years, meaning ₹51.97 L in total interest.

52% of your total repayment is interest

₹48.00 L borrowed becomes ₹99.97 L repaid: the difference, ₹51.97 L, is the cost of borrowing.

Raising your down payment to 30% lowers your EMI by ₹5,207

Putting down ₹18.00 L instead of ₹12.00 L shrinks your loan to ₹42.00 L, lowering your EMI from ₹41,656 to ₹36,449.

A 1% higher rate would cost ₹7.41 L more

At 9.5% instead of 8.5%, your EMI would rise to ₹44,742 and total interest would climb to ₹59.38 L.

How this is calculated

Every step of the math behind your result, shown in the open.

Loan amount after down payment

V = property value, d = down payment (%), L = loan amount

Your down payment (d) is subtracted from the property's value (V); the lender finances the remainder as your loan amount (L).

Example: ₹60.00 L − ₹12.00 L down payment → ₹48.00 L loan

Converting to a monthly rate

r = annual interest rate (%), r_m = monthly rate (%)

Your annual rate (r) is divided by 12, since interest is charged, and your instalment is due, every month rather than once a year.

Example: 8.5% ÷ 12 → 0.708% per month

The EMI formula

L = loan amount, r_m = monthly rate, n = number of months

This formula spreads your loan amount (L) into n equal monthly instalments, each covering that month's interest plus a growing share of the principal.

Example: ₹48.00 L over 240 months at 0.708%/month → ₹41,656 EMI

Assumptions

The interest rate stays fixed for the entire tenure: floating-rate resets aren't modeled.
No prepayments or missed instalments are made during the tenure.
The tax benefit estimate covers only the old tax regime and year 1 of the loan, since later years shift as your principal/interest split changes.
Figures exclude stamp duty, registration, processing fees, and insurance, and aren't financial advice.

Understanding your home loan

The concept, the motivation, and what to watch out for.

What is a home loan EMI?

A home loan finances the portion of a property's value you don't pay upfront as a down payment. The lender pays the rest, and you repay it, with interest, as a fixed monthly EMI.

The size of your down payment directly changes how much you need to borrow: a larger down payment means a smaller loan amount, which lowers both your EMI and the total interest you'll pay over the tenure.

Your down payment is a lever, not just a requirement

Raising your down payment even modestly can meaningfully lower your EMI and total interest; it's often the easiest amount to control before you commit to a loan.

The underlying EMI math is the same as any loan

Once you know your loan amount, rate, and tenure, a home loan EMI is calculated exactly like any other EMI-based loan — this home loan EMI calculator runs the same formula instantly using your numbers.

Your EMI can change even if you never miss a payment

Most home loans carry a floating rate tied to an external benchmark. When the benchmark moves, your EMI (or tenure) adjusts automatically, the number above assumes today's rate holds for the full term, which is rarely how it plays out.

Did you know?

A few facts behind home loans and repayment.

80C

Principal repayment can be tax deductible

Under the old tax regime, home loan principal repayment qualifies for a deduction under Section 80C, up to ₹1.5 lakh per year, combined with other 80C investments.

24(b)

Interest has its own deduction

Interest paid on a home loan for a self-occupied property can be deducted separately under Section 24(b), up to ₹2 lakh per year, under the old tax regime.

10%

A bigger down payment compounds in your favour

Every extra rupee of down payment is a rupee that never accrues interest over the entire loan tenure, often a better guaranteed return than it first appears.

LTV

Lenders cap how much they'll finance

Regulators cap the loan-to-value (LTV) ratio banks can offer on home loans, which is why a minimum down payment is a requirement, not just good practice.

Frequently asked questions

Straight answers to the questions we hear most about home loans.

How is my loan amount calculated?

Your loan amount is your property's value minus your down payment. A larger down payment means a smaller loan amount, which lowers both your EMI and total interest paid. This home loan EMI calculator applies that same formula the moment you enter your numbers.

How much down payment do I need for a home loan?

Most Indian lenders require a minimum down payment of 10–25% of the property value, depending on the loan amount and lender policy. You can always pay more to lower your EMI.

Can I get a tax deduction on my home loan?

Under the old tax regime, principal repayment qualifies for a deduction under Section 80C (up to ₹1.5 lakh/year) and interest paid qualifies under Section 24(b) (up to ₹2 lakh/year for a self-occupied property). The new regime doesn't allow these deductions.

Does this include stamp duty, registration, or processing fees?

No, this calculator estimates only the EMI on your loan amount. Stamp duty, registration charges, processing fees, and insurance vary by state and lender and aren't included.

Should I make a larger down payment or invest the extra money instead?

It depends on your loan's interest rate versus your expected investment returns. A larger down payment is a guaranteed "return" equal to your loan rate, while investing carries market risk but potentially higher returns.

Is this financial advice?

No. This tool provides indicative estimates based on your assumptions. Consult your lender or a certified financial advisor before making borrowing decisions.