Home Loan EMI Calculator
Calculate your housing loan EMI, interest and total cost.
Results are estimates for information only, not financial advice. See how we build and verify our calculators.
Home loans are the biggest EMI most people ever pay, and small rate differences compound into lakhs. Enter your loan amount, interest rate and tenure to see the monthly EMI, total interest and total repayment — preset with typical home-loan figures.
How to use the Home Loan EMI Calculator
- Enter the loan amount you plan to borrow.
- Set the interest rate your bank quoted and the tenure (15–30 years is common).
- Read the monthly EMI, total interest and total amount payable.
Frequently asked questions
How is a home loan EMI calculated?
With the reducing-balance formula EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1). A ₹30 lakh loan at 8.5% for 20 years works out to roughly ₹26,000 a month.
Should I pick a longer tenure for a lower EMI?
A longer tenure eases the monthly burden but sharply raises total interest — on ₹30L at 8.5%, going from 20 to 30 years adds several lakh in interest. Prepay when you can to claw it back.
Do home loans have prepayment charges?
Floating-rate home loans to individuals cannot carry prepayment penalties under RBI rules — prepaying early in the tenure is the single biggest interest saver.