Home Loan EMI Calculator
Know your monthly EMI, total interest, and payable amount for your home loan in one click.
Plan Your Home Purchase
Enter the loan amount, rate (typically 8.3–9.5% p.a. in India), and tenure (up to 30 years). The calculator shows your monthly EMI plus the principal-vs-interest split across the loan.
Tips for Home Loan Borrowers
- Down payment ≥ 20% — avoids expensive mortgage insurance and lowers EMI.
- Compare across banks — even 0.25% difference saves ₹3–5 lakh on a 25-year ₹50L loan.
- Opt for floating rates in a declining-rate environment; fixed in rising cycles.
- Use bonuses to prepay — once a year, shaving years off tenure.
- Keep credit score 750+ to qualify for the best advertised rates.
Frequently Asked Questions
What's a typical home loan rate in India?
8.3% – 9.5% p.a. as of 2026. Banks offer floating rates linked to RBI repo rate; public-sector banks are usually slightly cheaper than private lenders.
How much EMI can I afford?
A common guideline: EMI should not exceed 40% of your take-home pay. For ₹1L monthly, keep EMI under ₹40K.
Is home loan interest tax-deductible?
Yes. Under Section 24(b), you can deduct up to ₹2 lakh of interest per year. Principal repayment is deductible under 80C (up to ₹1.5L).
Should I prepay or invest extra cash?
If your home loan rate > expected investment return, prepay. At 8.5% loan and 12% equity return, investing wins — but it depends on your risk tolerance.
Is there a prepayment penalty?
No, not on floating-rate home loans — RBI removed this for individuals. Fixed-rate loans may still charge 2–4%.