Rupeemeter

Home loan EMI calculator

Find your EMI, see where each year’s payments go, and test how prepayments reduce your tenure or EMI.

Updated for FY 2026-27 (tax year 2026-27) ·

Monthly EMI

₹43,391

for 20 years at 8.5%

Principal

Total interest

Total payable

  • Principal₹50,00,000
  • Interest₹54,13,879

Year by year

  • Principal paid
  • Interest paid
026.03 lakh52.07 lakh78.1 lakh1.04 crore048121620

What is an EMI?

An equated monthly instalment is the fixed amount you pay every month until the loan is repaid. Each EMI covers that month’s interest and repays part of the principal.

How to use this calculator

  1. Enter the loan amount, interest rate and tenure, or switch to “Loan I can afford” and enter an EMI.
  2. Add a one-time prepayment and the month you plan to make it, or a yearly extra payment.
  3. Choose whether prepayments should cut the tenure or the EMI.
  4. Switch to the table for the yearly schedule and download it.

How the calculation works

EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1) · r = yearly rate ÷ 12 · n = months

Worked example

₹50 lakh for 20 years at 8.5%: EMI ₹43,391, total interest ₹54.14 lakh. Paying an extra ₹1 lakh every year closes the loan in 14 years 0 months and saves ₹18.55 lakh of interest.

EMI at 8.5% for common loan amounts

Loan15 years20 years30 years
₹25 lakh₹24,618₹21,696₹19,223
₹50 lakh₹49,237₹43,391₹38,446
₹75 lakh₹73,855₹65,087₹57,669
₹1 crore₹98,474₹86,782₹76,891

Assumptions

  • One fixed rate for the whole term; monthly reducing balance.
  • Prepayments are made right after that month’s EMI; no prepayment charges.

Frequently asked questions

How is a home loan EMI calculated?

EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan, r the monthly rate (yearly rate ÷ 12) and n the number of months. Early EMIs are mostly interest; later ones mostly principal.

Should I prepay to cut the tenure or the EMI?

Keeping the EMI and cutting the tenure usually saves more interest. Lowering the EMI eases your monthly budget. The calculator shows both.

What tax benefits does a home loan give?

Under the old regime, interest on a self-occupied home is deductible up to ₹2,00,000 a year (section 22), and principal repaid counts towards section 123 (old 80C). The new regime does not allow interest on a self-occupied home.

Does the calculator handle rate changes?

Not yet. It assumes one rate for the whole loan. Re-run it with the new rate and the outstanding balance when your rate changes.