Home Loan EMI Calculator

Home loan EMI follows the same formula as any amortizing loan: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly payments. Because interest is charged on the outstanding balance, early EMIs are mostly interest and later EMIs mostly principal. This calculator applies the exact formula and rounds every figure to the nearest rupee.

For a home loan, tenure has the strongest effect on total interest. A ₹50 lakh loan at 8.5% costs about ₹54 lakh in interest over 20 years but only about ₹24 lakh over 10 years — a saving of roughly ₹30 lakh for halving the term, despite a much higher monthly EMI. A small rate difference also compounds: every 0.25% reduction on a 20-year loan saves several lakh in interest. Adjust the three inputs here to see how your own numbers move.

Lenders offer home loan tenures up to 30 years, and a longer tenure lowers the monthly EMI — which can help qualify when income is constrained. But it triples the total interest you pay. Use this calculator to compare a shorter tenure against a higher EMI, so you can pick the term that balances monthly cash flow with total cost.

Inputs are formatted in Indian Rupees (lakhs and crores), rates are entered as your Indian bank or housing finance company quotes them, and results match how Indian lenders quote EMI — including odd tenures like 18 years 6 months for pre-EMI or balance-transfer cases. No uploads, no account — purely a browser calculation.