Home Loan EMI Calculator
Compute your home loan EMI in India with the latest 2026 rates. See monthly EMI, total interest, year by year amortization and total cost of the loan.
A home loan is the single largest financial commitment most Indians make. Tenures of 15 to 30 years, principal often running to 50 lakh or more, and an interest component that frequently exceeds the original loan amount over the life of the borrowing. The home loan EMI calculator on this page tells you the monthly EMI, the total interest you will pay, and a clean year by year split between principal and interest.
Inputs
Why use the Home Loan EMI Calculator
Bank executives are good at quoting an attractive EMI but rarely volunteer the total interest cost. A 50 lakh home loan at 8.5 percent for 25 years carries an EMI of roughly 40,260 rupees a month, which sounds manageable. The total interest across the tenure is more than 70 lakh rupees. Once you see that figure, the case for a shorter tenure or for periodic prepayment becomes obvious. The calculator surfaces both numbers so the decision is yours, not the loan officer's.
Benefits at a glance
Real interest cost over the tenure
The calculator shows total interest in rupees, not just the EMI. For a typical 50 lakh, 20 year loan at 8.5 percent, total interest paid is roughly 53 lakh, more than the principal itself.
Test tenure trade-offs
Switch the tenure between 15, 20, 25 and 30 years. The EMI drops modestly with longer tenure but the total interest grows steeply. A 20 year loan typically costs 40 percent less in total interest than a 30 year loan on the same principal.
Live amortization chart
Year by year stacked bars show how much of each year's payments goes toward principal versus interest. The cross over usually happens around year 12 to 15 of a 25 year loan, which is when the bank starts working for you instead of the other way around.
Plan for the right rate
Most home loans in India are floating rate, linked to a bank's external benchmark like the RBI repo rate. The calculator lets you re run the EMI under different rate scenarios so you can model what a 100 basis point hike or cut would mean for your monthly outflow.
How to use the Home Loan EMI Calculator
- 1
Enter the loan amount
The principal sanctioned by the bank, after your down payment. Typically 75 to 80 percent of the property value, capped by lender LTV norms.
- 2
Enter the interest rate
Use the rate offered to you in writing. Indian home loan rates in 2026 sit broadly in the 8.4 to 9.5 percent range for salaried borrowers with strong credit profiles.
- 3
Set the tenure
Twenty years is the most common tenure. Longer tenures lower the EMI but cost dramatically more in total interest. Shorter tenures cost less overall but require a higher EMI.
- 4
Read the EMI, total interest and chart
Look at the monthly EMI for affordability and the total interest for cost awareness. The amortization chart shows the year by year split.
Frequently asked questions
What is a typical home loan rate in India in 2026?
Major Indian banks (SBI, HDFC, ICICI, Axis) typically price salaried home loans in the 8.4 to 9.5 percent range. Self employed borrowers are quoted 25 to 75 basis points higher. Rates depend on credit score, income stability, loan to value ratio and the lender's external benchmark linkage. Most home loans today are floating rate linked to the RBI repo rate.
How do I decide between a 20 year and a 25 year home loan?
Compute the EMI for both tenures and check the affordability. If the 20 year EMI fits comfortably within 40 percent of your net monthly income, take 20 years. If it stretches past 50 percent, take 25 years to leave headroom for emergencies. The total interest difference is typically 25 to 35 percent, which is significant but secondary to monthly cash flow safety.
Should I prepay my home loan or invest the surplus?
Compare the post tax cost of the home loan against the post tax return on the alternative investment. A floating home loan at 8.5 percent has an effective post tax cost of roughly 7 to 7.5 percent for most borrowers (after the deduction on interest under Section 24B). Equity mutual funds historically return 11 to 13 percent post tax over long horizons, which favors investing. Bank FDs at 6.5 percent post tax favor prepayment.
How much interest can I claim as a tax deduction?
Under the old regime, you can claim up to ₹2 lakh per year on a self occupied property as interest deduction under Section 24B, plus principal repayment up to ₹1.5 lakh per year under Section 80C. The new regime does not allow either deduction for self occupied property. For let out property, the entire interest can be claimed against rental income, with set off rules.
Is the EMI the same every month?
Yes for fixed rate loans. For floating rate loans, the EMI usually stays constant but the bank may extend or shorten the tenure when the rate changes. Some banks offer the option to revise the EMI instead of the tenure when the rate moves. Check your loan agreement for the default behaviour.
What charges should I expect beyond the EMI?
Processing fee (0.25 to 1 percent of the loan amount), legal and valuation charges (5,000 to 15,000 rupees), GST on processing fee, stamp duty and registration on the property itself, and a small mortgage origination fee. Some banks waive processing fees during promotions.
Can I transfer my home loan to another bank for a lower rate?
Yes. The process is called a balance transfer. The new bank takes over the outstanding loan at their rate. RBI does not permit prepayment penalties on floating rate retail loans, so the only friction is processing fees with the new lender and time spent on documentation. A transfer is usually worthwhile if it reduces the rate by 50 basis points or more on a loan with at least 5 years of tenure remaining.
Final word
The home loan EMI calculator turns the abstract burden of a 25 year commitment into concrete numbers. Run it before you accept a sanction letter, again whenever your bank revises the rate, and once more whenever you have a lump sum that could go toward prepayment. The lifetime cost of a home loan is usually larger than the EMI alone suggests, and seeing both numbers side by side often changes how borrowers think about extra payments.
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