Home Loan EMI Calculator
Plan home loan repayments and explore the effect of prepayments.
Outstanding loan balance
The balance falls as principal is repaid. Processing fees are shown separately from loan interest.
View chart data
Plan the loan and the upfront home-buying cost
A home-loan budget starts with the property price and the cash contribution, but it does not stop there. Stamp duty on the property, registration, legal checks, moving costs and other purchase expenses can require cash outside the loan. Price-and-down-payment mode estimates the borrowing requirement; it does not determine a lender-approved loan-to-value ratio.
A practical example
A property priced at Rs 60 lakh with a 20% down payment requires Rs 48 lakh of borrowing before any financed charges. Reducing tenure after a prepayment can save interest; reducing EMI can create more monthly breathing room. The rate-stress view compares alternative fixed-rate loans from origination, not an actual floating-rate reset schedule.
How the EMI calculation works
EMI = P × r ÷ [1 − (1 + r)^(−n)]P is the principal, r is the annual nominal rate divided by 1,200, and n is the number of months. At zero interest, EMI = P ÷ n. The schedule rounds payments and monthly interest to paise, applies prepayments after the EMI, and adjusts the final instalment to clear the balance. It assumes a constant rate, monthly intervals and no moratorium. Daily accrual, disbursement timing and lender rounding can cause differences.
Fees and the effective annual rate
The effective annual rate discounts baseline instalments against the principal less upfront fees, then annualizes the monthly result by compounding. It excludes prepayments because those are optional future cash flows. Compare the result with your lender's Key Facts Statement, which should disclose the applicable annual percentage rate, fees and repayment terms.
Home Loan EMI Calculator: Frequently Asked Questions
How is home loan EMI calculated?
The calculator uses the financed principal, monthly interest rate and number of monthly installments. It assumes reducing-balance interest and full repayment over the selected tenure, rather than flat interest on the original borrowing.
How much home loan is needed after a down payment?
Subtract the cash down payment from the property price you intend to finance. A Rs 60 lakh property with Rs 12 lakh paid upfront leaves Rs 48 lakh to borrow, excluding other purchase costs or financed fees.
What happens to EMI when I choose a 30-year instead of a 20-year loan?
For the same amount and positive interest rate, the longer loan usually has a lower EMI but higher total interest. Compare both the monthly commitment and total repayment rather than choosing on EMI alone.
How does a home loan part-prepayment save interest?
It reduces the outstanding principal on which future interest is charged. Retaining the EMI generally shortens tenure; retaining tenure generally reduces EMI. Savings depend on the amount, timing and lender terms.
Is reducing tenure or reducing EMI better after prepayment?
Keeping a higher payment and reducing tenure generally saves more interest at the same rate. Reducing EMI provides more monthly flexibility. The appropriate choice depends on cash-flow needs and the loan agreement.
More questions (5)
Can this compare a home loan balance transfer?
It can compare loan amounts, rates, fees and tenures as repayment scenarios. A full transfer decision also needs the old loan's remaining schedule, transfer costs, legal charges and any applicable exit costs, not merely a lower advertised rate.
Does the calculator include construction-stage pre-EMI?
No. It assumes the entered principal is financed from the start and regular EMIs begin under a monthly schedule. Staged disbursements, moratoriums and interest-only construction payments require a separate lender schedule.
Are registration and property stamp duty included?
No. The down payment is separate from the loan. Add applicable loan-related upfront charges in the calculator, and budget property taxes, registration and other purchase expenses separately.
Does this predict a floating-rate home loan?
No. The schedule holds the entered rate constant. Actual floating-rate loans can reset their EMI or tenure when the benchmark and lender spread change. Use the rate scenarios to assess sensitivity, then check the lender schedule.
Does the calculator include home-loan tax deductions?
No. Deduction eligibility depends on the tax regime, property use, ownership and current tax rules. This calculator shows borrowing cash flows before income-tax effects.