Home Loan EMI Calculator
Calculate your home loan EMI, total interest and total repayment. Enter loan amount, interest rate and tenure to plan your home purchase budget.
Formula last reviewed 4 August 2026 · How we verify our calculators
Monthly EMI
- Total interest
- ₹54,13,879
- Total payment
- ₹1,04,13,879
Updates live as you type
Frequently asked questions
EMI uses the principal, monthly interest rate and number of months: EMI = P × r × (1+r)^n / ((1+r)^n − 1). Each instalment covers part interest and part principal.
A longer tenure lowers your monthly EMI but sharply increases total interest. A shorter tenure costs more monthly but saves a large amount overall. Pick what your budget can sustain comfortably.
Prepaying reduces the outstanding principal, cutting future interest. Prepaying early in the tenure — when the interest component is highest — delivers the biggest savings.
A fixed rate keeps your EMI constant; a floating rate moves with the repo rate, so your EMI or tenure can change. Most Indian home loans are floating-rate.
The interest can end up bigger than the house
A ₹50,00,000 home loan at 8.5% over 20 years carries a monthly EMI of ₹43,391 — manageable-looking on its own. Multiply that across 240 months, though, and the total interest comes to ₹54,13,879: more than the ₹50 lakh you actually borrowed. That's the defining trait of a home loan compared with almost any other loan on this site — because the tenure runs for decades, the interest has decades to accumulate, and it's routine for a 20-year home loan to cost well over double the original principal by the time it's repaid.
Where a quarter-percentage point actually matters
Because the loan runs so long, differences that would be trivial on a shorter loan compound into real money here. A 0.25% gap between two lenders' offered rates, held over 20 years on a ₹50 lakh loan, works out to lakhs of rupees difference in total interest — which is exactly why it's worth shopping across lenders, negotiating, and checking whether your current bank will match a competitor's rate before assuming a balance transfer is necessary.
The two levers that save more than they look like they should
A larger down payment shrinks the principal you actually need to borrow, which shrinks the interest calculated on it for every single month of the tenure — even a modest increase in the amount you put down up front pays off disproportionately over 20 years. Shortening the tenure works similarly: it raises the EMI only slightly in most cases but cuts total interest far more than that EMI increase might suggest, because less time means less compounding. What an EMI figure never shows: processing fees, stamp duty, registration charges and legal costs, which together can add several percentage points to what the home actually costs you beyond the loan itself — budget for those separately, before you commit to a lender.