What will my home loan EMI be?
Enter the amount you want to borrow, the rate your lender quoted and how long you want to repay over. You will see the monthly instalment, the total interest across the life of the loan, and how much of each payment goes to the bank rather than the house.
Monthly EMI
₹34,713
Indicative only. Your lender’s figures may differ. Nothing you enter here is sent anywhere or stored.
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
P is the loan amount, r the monthly rate (the yearly rate ÷ 12 ÷ 100) and n the number of months. Each month's interest is charged on what is still owed, so early EMIs are mostly interest and later ones mostly principal.
Total interest is every EMI added up, minus the amount you borrowed.
If you enter
You get
These are the calculator's starting values. Change them above to see your own.
Compare rates, processing fees and prepayment terms, then apply on the lender's own site.
HDFC Bank
Protium Finance Limited
Bajaj Finserv
EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments.
Over a long tenure, interest is charged on a balance that falls slowly at first. On a 20-year loan at 8.5%, more than half of every EMI goes to interest for roughly the first 12 years. Shortening the tenure cuts total interest far more than shaving the rate.
Usually the tenure. Reducing a 20-year loan to 15 years typically saves more total interest than a 0.5% rate reduction, though it raises the monthly instalment.
Short reads that explain how it works before you decide.
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