Home Loan EMI Calculator
Estimate your monthly housing loan installments, down payment breakdown, Section 24(b) tax deductions, and complete amortization schedule.
Home Loan Calculator
Calculate monthly installments with down payment & tax benefits
Simple interest accrued during moratorium: ₹10,00,000 (Added to loan principal before EMI repayment starts).
Breakdown Visual
Principal vs InterestHome loan borrowers can claim tax relief on interest paid and principal repayments under local tax codes (e.g., Sec 24b & 80C in India).
Amortization Schedule
Year-by-year payment timeline breaking down principal vs interest decay
| Period | Opening Balance | EMI Paid | Principal | Interest | Closing Balance |
|---|
Side-by-Side Loan Comparison
Compare interest rates, tenure variations, and see exactly how much you save
Offer B saves you more!
By choosing Offer B (8.25% vs 8.50%), your EMI decreases by ₹788/mo and total interest savings is:
Prepayment Impact Simulator
See how adding extra monthly or annual payments slashes your loan tenure and interest burden
Loan Eligibility Checker
Calculates your maximum eligible loan amount based on income and standard 50% FOIR (Fixed Obligation to Income Ratio)
Frequently Asked Questions
How is Loan EMI calculated mathematically?▼
Loan EMI is calculated using the standard reducing balance formula: E = P × r × (1+r)^n / ((1+r)^n - 1), where P is Principal Loan Amount, r is monthly interest rate (annual rate divided by 1200), and n is total number of monthly installments.
What is the difference between Floating and Fixed Interest Rates?▼
Fixed interest rates remain constant throughout your loan tenure. Floating interest rates are linked to central bank benchmark rates and fluctuate over time, affecting either your monthly EMI amount or loan tenure.
Are there prepayment penalties on loans?▼
Most modern consumer protection rules (including RBI guidelines) prohibit lenders from charging prepayment penalties on floating interest rate home loans taken by individual borrowers.
How does global currency selection work?▼
You can select your native currency (INR, USD, EUR, GBP, AUD, CAD, AED, SGD, JPY) in the top header. The calculator formats figures according to local currency standards.
Complete Guide to Home Loan EMI Calculation & Tax Savings
A Home Loan is typically the largest financial commitment an individual makes. Understanding how your monthly Equated Monthly Installment (EMI) is structured enables you to plan down payments effectively, select optimal loan tenures, and maximize government tax incentives.
Loan-To-Value (LTV)
Banks fund 75%–90% of total property value. The remaining amount is paid as your initial down payment.
Tax Deductions
Claim up to ₹2 Lakhs on interest under Sec 24(b) and ₹1.5 Lakhs on principal under Sec 80C annually.
Tenure Impact
Longer tenures (20-30 years) lower monthly EMI but significantly increase total lifetime interest paid.
Key Factors Influencing Your Home Loan EMI
- Principal Amount: Total money borrowed after subtracting your initial down payment from property purchase cost.
- Interest Rate: Annual percentage charged by bank. Floating rates adjust with benchmark repo rates, while fixed rates stay unchanged.
- Tenure: Duration over which the loan is repaid. Standard home loans range between 15 to 30 years.