Home loan EMI calculator
Plan your home purchase: see the EMI, the total interest over the loan and how quickly the principal comes down.
Year-by-year breakdown
Illustration only. Actual EMI, rate, eligibility and charges are decided by the lender and depend on its credit assessment. Loans are subject to the lender’s approval.
About the home loan EMI calculator
An EMI (equated monthly instalment) is the fixed amount you pay every month until the loan is repaid. In the early years most of the EMI goes towards interest; later, more of it repays the principal, as the year-by-year schedule shows.
Move the sliders or type exact values. A longer tenure lowers the EMI but increases the total interest you pay.
The formula
P = loan amount, r = annual interest rate ÷ 12, n = tenure in months.
Frequently asked questions
What is the maximum tenure for a home loan?
Most lenders offer up to 30 years, subject to your age at the end of the loan and your income.
How is EMI calculated?
EMI uses the standard reducing-balance formula shown above: interest is charged each month only on the amount still outstanding.
Does the EMI include fees and insurance?
No. Processing fees, insurance and other charges vary by lender and are not included.
Can the EMI change during the loan?
For floating-rate loans, the lender may change the rate, which changes either the EMI or the tenure. Fixed-rate loans keep the same EMI.