A home loan is usually the largest loan you will ever take, and a small difference in rate or tenure can change the total interest by lakhs. This calculator shows your exact monthly EMI for any home loan amount, interest rate and tenure, plus the total interest you will pay over the life of the loan. Use it to compare offers from banks and housing finance companies before you sign.
The amount you borrow (property price minus down payment).
Monthly EMI
₹43,391
Fixed payment due every month.
Estimates only. Actual EMIs depend on your lender's exact terms, fees, rate type and rounding, and floating rates change over time. This is not financial advice.
Home loan EMI uses the reducing-balance formula — interest is charged only on the outstanding principal:
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1)
Most home loans in India carry floating rates. When rates change, lenders usually keep your EMI fixed and stretch or shrink the tenure instead — so re-check your numbers after every rate revision.
Borrow ₹50,00,000 at 8.5% per annum for 20 years (240 months):
Shortening the tenure to 15 years raises the EMI to about ₹49,205 but cuts total interest to roughly ₹38,56,900.
Monthly EMI is what leaves your account each month — lenders generally want it under 40–50% of your monthly income. Total interest is the true cost of the loan: on a 20-year tenure it can exceed the principal itself. Total payment is the full amount you will have paid the lender.
Compare offers on total interest, not just EMI — and remember that prepaying principal early in the tenure saves far more interest than prepaying later, because early EMIs are mostly interest.
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Content last reviewed on 2026-10-06.