Home Loan Calculator
Work out the monthly EMI, total interest and total cost of a home loan.
- Loan amount
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- Total interest
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- Total payment
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Plan your home loan with confidence
A home loan is repaid in Equated Monthly Instalments (EMIs) on a reducing-balance basis. Each instalment covers part of the interest and part of the principal, so the outstanding balance shrinks every month. This calculator shows exactly what you will pay each month and across the full tenure, before you sign the sanction letter.
How the home loan EMI is calculated
EMI = P × i × (1 + i)n ÷ ((1 + i)n − 1), where P is
the loan amount, i is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n
is the number of monthly instalments (years × 12). A longer tenure lowers the EMI but raises the total
interest you pay over the life of the loan.
How to use the Home Loan Calculator
- Enter the loan amount. Type the principal you plan to borrow from the bank.
- Add the interest rate. Use the annual rate your lender quotes for the home loan.
- Set the tenure. Choose the repayment period in years — commonly 10 to 30.
- Review the result. See your monthly EMI, total interest and total repayment update instantly.
Frequently asked questions
What is a good tenure for a home loan?
A longer tenure lowers your monthly EMI but increases the total interest. Pick the shortest tenure whose EMI comfortably fits your budget to save on interest.
Does this include processing fees or insurance?
No. The calculator shows only principal and interest. Processing fees, stamp duty and property insurance are charged separately by your lender.
Is the interest rate fixed or floating?
The calculator assumes a constant rate for the whole tenure. If you have a floating-rate loan, re-run it whenever your rate changes to see the revised EMI.
How can I reduce my total interest?
Make part-prepayments when you can, choose a shorter tenure, or negotiate a lower rate. Even a small rate cut saves a large amount over 20+ years.