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Home Loan Calculator

Calculate EMI, view amortization schedule, and export as PDF

Last Updated: July 2026
Total home loan amount
Home loan interest rate
Repayment period
Monthly EMI
—
Fixed monthly payment
Total Interest
—
Over entire tenure
Total Payment
—
Principal + Interest

Principal vs Interest Over Time

Yearly Summary

YearPrincipalInterestTotal PaidBalance

Monthly Amortization Schedule

MonthEMIPrincipalInterestBalance

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What Is a Home Loan Calculator?

A Home Loan Calculator computes your monthly EMI, total interest payable, and generates a complete amortization schedule showing how each EMI is split between principal and interest. This helps you understand the true cost of your home loan and plan your repayment strategy.

Home loans are typically the largest financial commitment for most Indians. At 8.5% for 20 years, you end up paying more than double the original loan amount in total. Using this calculator before applying helps you choose the right loan amount, compare lenders, and decide on the optimal tenure.

Home Loan EMI Formula

EMI = P × r × (1+r)n / [(1+r)n −1]
P = Loan principalr = Monthly interest raten = Total months

Frequently Asked Questions

What is the current home loan interest rate?
As of FY 2025-26, home loan rates range from 8.35% to 9.50% for most banks. SBI offers 8.50%, HDFC 8.60%, ICICI 8.75%. Rates vary by loan amount, tenure, credit score, and employment type.
What tax benefits are available on home loans?
Section 80C: Deduction up to ₹1.5L on principal. Section 24(b): Deduction up to ₹2L on interest for self-occupied property. Section 80EE: Additional ₹50,000 for first-time buyers. Joint loans allow each co-borrower to claim separately.
How much home loan can I get?
Banks typically offer 60-80% of property value. EMI should not exceed 40-50% of monthly income. For ₹50,000 monthly income, max EMI is ₹20,000-25,000, which translates to roughly ₹25-30L loan at 8.5% for 20 years.
What is the difference between floating and fixed rate?
Floating rates change with repo rate movements (most common). Fixed rates remain constant for 1-5 years then reset. Fixed rates are typically 0.5-1% higher. Floating is better when rates are expected to fall.
Can I prepay my home loan?
Yes, floating-rate home loans have zero prepayment penalty as per RBI guidelines. You can make partial prepayments or fully repay anytime. Even one extra EMI per year can save lakhs in interest and reduce tenure significantly.

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