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Home loan EMI calculator, with part‑payment and eligibility built in
Most home loan EMI calculators stop at one number. This one shows what that number is made of: how much of each EMI is interest, how the split changes year by year, what a part‑payment saves, and roughly how much your take‑home pay can borrow. Set your loan once and every tab uses it.
The reducing‑balance formula
- P
- Loan amount (principal), in rupees
- r
- Monthly interest rate: annual rate ÷ 12 ÷ 100
- n
- Tenure in months: years × 12
Balance at startLoan closed
- Reducing balance, monthly rests
- Figures in rupees, rounded
- Nothing is saved or sent
Your loan
Monthly EMI
₹43,391/ month
₹50 lakh at 8.5% for 20 years
Where every rupee of your EMI goes
- Principal 48%
- Interest 52%
- Principal
- ₹50,00,000
- Total interest
- ₹54,13,879
- Total payable
- ₹1,04,13,879
- Interest per ₹1 lakh borrowed
- ₹1,08,278
- over the full tenure
- Your first EMI, split
- ₹35,417 goes to interest and only ₹7,974 reduces the loan. The split shifts towards principal every month as the balance falls.
Try a small change
Your loan, year by year
The bar height stays almost the same each year (your EMI does not change), but the colours trade places: early years are mostly interest, later years mostly principal.
Loan year · hover, tap or use the arrow keys to read a year
Show the year‑by‑year amortisation table
| Year | Principal paid | Interest paid | Balance at year end |
|---|---|---|---|
| 1 | ₹99,511 | ₹4,21,182 | ₹49,00,489 |
| 2 | ₹1,08,307 | ₹4,12,387 | ₹47,92,181 |
| 3 | ₹1,17,881 | ₹4,02,813 | ₹46,74,300 |
| 4 | ₹1,28,300 | ₹3,92,394 | ₹45,46,000 |
| 5 | ₹1,39,641 | ₹3,81,053 | ₹44,06,359 |
| 6 | ₹1,51,984 | ₹3,68,710 | ₹42,54,375 |
| 7 | ₹1,65,418 | ₹3,55,276 | ₹40,88,957 |
| 8 | ₹1,80,039 | ₹3,40,655 | ₹39,08,918 |
| 9 | ₹1,95,953 | ₹3,24,741 | ₹37,12,965 |
| 10 | ₹2,13,274 | ₹3,07,420 | ₹34,99,691 |
| 11 | ₹2,32,125 | ₹2,88,569 | ₹32,67,566 |
| 12 | ₹2,52,643 | ₹2,68,051 | ₹30,14,923 |
| 13 | ₹2,74,974 | ₹2,45,720 | ₹27,39,949 |
| 14 | ₹2,99,279 | ₹2,21,415 | ₹24,40,670 |
| 15 | ₹3,25,733 | ₹1,94,961 | ₹21,14,937 |
| 16 | ₹3,54,525 | ₹1,66,169 | ₹17,60,412 |
| 17 | ₹3,85,862 | ₹1,34,832 | ₹13,74,550 |
| 18 | ₹4,19,968 | ₹1,00,726 | ₹9,54,582 |
| 19 | ₹4,57,090 | ₹63,604 | ₹4,97,492 |
| 20 | ₹4,97,492 | ₹23,202 | ₹0 |
What a part‑payment saves you
- Interest saved
- ₹10,69,153
- Loan closes earlier by
- 3 years
- New tenure 17 years
- Interest without part‑payments
- ₹54,13,879
- Interest with part‑payments
- ₹43,44,726
- Balance without part‑payments
- Balance with your part‑payments
On floating‑rate home loans taken by individuals, RBI rules do not allow lenders to charge for part‑payment or foreclosure. Fixed‑rate and business‑purpose loans can carry a charge, and some lenders set a minimum part‑payment amount. Check your sanction letter before you pay.
How much could you borrow?
Lenders cap your total EMIs at a share of your take‑home pay, called FOIR (fixed obligations to income ratio). This uses the rate and tenure on the left.
- Indicative loan eligibility
- ₹57.62 lakh
- at 8.5% for 20 years
- EMI you could carry
- ₹50,000
- after your existing EMIs
Your take‑home pay, at a 50% FOIR
- Existing EMIs ₹0
- Room for a home‑loan EMI ₹50,000
- Left for living costs ₹50,000
The ₹50 lakh on the left needs an EMI of ₹43,391, which is 43% of your income. That sits inside this FOIR, so it looks serviceable on income alone.
This is an estimate on income only. The lender also funds only a part of the property value (the share depends on the loan size and the lender, under RBI norms), may cap your tenure at your retirement age, and looks at your CIBIL score and the property’s papers before it sanctions.
Estimates for planning only; not a loan offer. Your lender’s figures may differ slightly.
Check these numbers with a lenderThe maths, in plain terms
How is home loan EMI calculated?
Indian banks and housing finance companies use the reducing‑balance method. Interest for a month is charged only on what you still owe, and the EMI stays fixed, so the part of it that repays the loan grows every month.
Take ₹50 lakh at 8.5% for 20 years. The monthly rate r is 8.5 ÷ 12 ÷ 100 = 0.00708, and n is 240 months. Put those into the formula and the EMI comes to ₹43,391.
Month 1 of ₹50 lakh at 8.5%, worked out
- Month 1 interest₹50 lakh × 0.00708₹35,417
- Month 1 principal₹43,391 − ₹35,417₹7,974
- Balance after month 1₹50 lakh − ₹7,974₹49,92,026
In year one you pay ₹4,21,182 in interest and only ₹99,511 of the loan itself. That is why a part‑payment in the early years saves far more than the same amount paid late.
Rate vs tenure
How rate and tenure change your EMI
Every cell is a ₹50 lakh loan. Read across to see what a longer tenure does to the EMI, and down to see what each half-percent of rate costs. The shading tracks total interest: the darker the cell, the more you pay the lender over the life of the loan.
| Rate ↓ · Tenure → | 10 years | 15 years | 20 years | 25 years | 30 years |
|---|---|---|---|---|---|
| 7.5% | ₹59,351Total interest ₹21.22 lakh interest | ₹46,351Total interest ₹33.43 lakh interest | ₹40,280Total interest ₹46.67 lakh interest | ₹36,950Total interest ₹60.85 lakh interest | ₹34,961Total interest ₹75.86 lakh interest |
| 8% | ₹60,664Total interest ₹22.8 lakh interest | ₹47,783Total interest ₹36.01 lakh interest | ₹41,822Total interest ₹50.37 lakh interest | ₹38,591Total interest ₹65.77 lakh interest | ₹36,688Total interest ₹82.08 lakh interest |
| 8.5% | ₹61,993Total interest ₹24.39 lakh interest | ₹49,237Total interest ₹38.63 lakh interest | ₹43,391Total interest ₹54.14 lakh interest | ₹40,261Total interest ₹70.78 lakh interest | ₹38,446Total interest ₹88.4 lakh interest |
| 9% | ₹63,338Total interest ₹26.01 lakh interest | ₹50,713Total interest ₹41.28 lakh interest | ₹44,986Total interest ₹57.97 lakh interest | ₹41,960Total interest ₹75.88 lakh interest | ₹40,231Total interest ₹94.83 lakh interest |
| 9.5% | ₹64,699Total interest ₹27.64 lakh interest | ₹52,211Total interest ₹43.98 lakh interest | ₹46,607Total interest ₹61.86 lakh interest | ₹43,685Total interest ₹81.05 lakh interest | ₹42,043Total interest ₹1.01 crore interest |
Outlined: the planner’s starting example. Monthly EMI shown large; total interest over the loan below it. Illustrative only.
One percentage point is real money
At 20 years, moving from 8% to 9% lifts the EMI from ₹41,822 to ₹44,986, about ₹3,164 more a month and ₹7,59,431 over the loan. This is why we compare offers before you accept the first sanction letter.
A longer tenure lowers the EMI, then gets expensive
Stretching ₹50 lakh from 15 to 30 years at 8.5% cuts the EMI from ₹49,237 to ₹38,446, but total interest more than doubles. A longer tenure can help you qualify; you can still shorten it later with part‑payments.
Floating rates move with the repo rate
Most bank home loans are floating and linked to an external benchmark, usually the RBI repo rate, while housing finance companies use their own benchmark rate. Either way your rate can change during the loan. When it rises, many lenders extend the tenure first and keep the EMI; ask yours which it does.
Part-payments
When a part‑payment helps most
The numbers below use the same ₹50 lakh, 8.5%, 20‑year example. Put in your own figures on the Part‑payment tab.
Open the part‑payment simulatorEarly beats large
₹5,00,000 paid at the end of year 5 on our ₹50 lakh example saves about ₹10,69,153 in interest and closes the loan 3 years sooner. The same amount near the end of the loan saves very little, because by then most of each EMI is already principal.
Cut the tenure, not the EMI, if you can
Asking the lender to keep your EMI and shorten the tenure saves far more. In the same example, choosing a lower EMI instead saves about ₹3,86,266, with the EMI falling to ₹38,467.
A small yearly habit adds up
An extra ₹1,00,000 every year, a little over two months' EMI or one festival bonus, saves about ₹18,55,389 and takes 6 years off the loan.
Check the charges and the paperwork
Floating-rate home loans to individuals carry no part‑payment or foreclosure charge under RBI rules; fixed‑rate loans can. Pay through the lender's channel, ask for a revised repayment schedule, and keep it with your loan papers.
EMI questions borrowers ask us
How is home loan EMI calculated?
With the reducing‑balance formula EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r the monthly rate (annual rate ÷ 12 ÷ 100) and n the number of months. For ₹50 lakh at 8.5% over 20 years, that is ₹43,391 a month.
What is the EMI for a ₹50 lakh home loan?
At 8.5% for 20 years it is about ₹43,391 a month, with ₹54,13,879 of interest over the loan. At 8% it is ₹41,822; at 9% it is ₹44,986. Over 30 years at 8.5% it drops to ₹38,446, but you pay much more interest in total.
How much home loan can I get on a ₹1 lakh monthly salary?
As a rough guide, if a lender allows 50% of your take‑home pay for EMIs, ₹1,00,000 a month supports an EMI of ₹50,000. At 8.5% over 20 years that is a loan of about ₹57.62 lakh. If you already pay a ₹15,000 car EMI, it falls to about ₹40.33 lakh.
Lenders set their own FOIR by income level, employer and credit score, and they also limit the loan to a share of the property's value. Use the Eligibility tab with your own figures, then let us check it against real lender policies.
After a part‑payment, should I reduce the EMI or the tenure?
Reduce the tenure if your budget allows. You keep paying the same EMI, the loan closes sooner and you save much more interest. Reduce the EMI if cash flow is tight, for example after a job change or when school fees go up. Tell the lender which you want in writing when you pay.
Are there charges for prepaying a home loan?
On floating‑rate home loans taken by individuals, RBI rules do not allow lenders to levy part‑payment or foreclosure charges. Fixed‑rate loans, and loans taken for business purposes, can carry a charge. Your sanction letter and loan agreement state the terms for your loan.
Why is my bank's EMI slightly different from this calculator?
Small differences are normal. Lenders round the rate and EMI in their own way, may charge broken‑period interest for the days between disbursal and your first EMI date, and some compute interest on a daily balance. If the gap is more than a few rupees, ask the lender for the repayment schedule and compare it with the Year by year tab.
What is pre‑EMI, and does this calculator show it?
If you buy an under‑construction flat or build in stages, the lender releases the loan in parts. Until the full amount is disbursed, you can pay pre‑EMI: interest only on the amount released so far, with no reduction of the loan. Full EMIs start after the final disbursal. This planner assumes the full loan is disbursed on day one, so use it for the EMI you will pay once construction is complete.
From estimate to sanction
Got a number you like? Let's see which lenders will say yes to it.
Send us your loan amount and area. We check your income, CIBIL score and property papers against lender policies, then tell you the realistic amount, rate range and EMI before you apply anywhere.
- Eligibility checked against real lender FOIR and LTV rules
- Offers compared across 20+ banks and NBFCs
- Free expert advice: no consultation fee, no file charge
Lenders' own processing, legal and valuation fees still apply; we tell you what they are before you apply.
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