Home Loan Calculator
Real EstateEMI, total interest, the full repayment schedule, and what paying extra each month or year would save.
Runs entirely in your browser — nothing is uploaded
What people do next
Features
- EMI, total interest and total repayment.
- Pay a little extra monthly or yearly and see the tenure and interest fall.
- Amortisation schedule by year or by month.
- Shows what share of your repayment is interest.
- Results update as you type, with no button to press.
How to use the Home Loan Calculator
- 1Enter the loan amount, rate and tenure.
- 2Read the EMI and the total interest over the term.
- 3Add an extra monthly or yearly payment to see the loan end sooner.
- 4Open the schedule to see how slowly the balance falls at first.
Frequently asked questions
How is home loan EMI calculated?
EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the principal, r the monthly rate and n the number of months. The instalment stays fixed while its split between interest and principal shifts across the term.
Why does the balance barely move in the early years?
Because interest is charged on the outstanding balance, which is at its largest at the start. In year one of a twenty-year loan, roughly three-quarters of each EMI is interest. This is also why prepaying early saves so much more than prepaying late.
What tax benefits does a home loan give?
Under the old regime, up to ₹2 lakh a year of interest under section 24(b) on a self-occupied property, and the principal repayment within the ₹1.5 lakh 80C limit. The new regime allows neither for a self-occupied home, which is a significant factor in choosing a regime.
Should I take the longest tenure offered?
A longer tenure lowers the EMI but raises the total interest sharply. A common approach is to take the long tenure for the flexibility of a lower committed payment, then prepay regularly — you get the lower obligation and the shorter effective term.
What does paying a little extra every month actually save?
More than most people expect, because every extra rupee goes straight against principal and removes the interest it would have accrued for the whole remaining term. On a ₹50 lakh loan at 8.5% over 20 years, an extra ₹5,000 a month ends the loan 4 years 5 months early and saves about ₹13.9 lakh in interest. Set the extra payment option in the calculator to see the figures for your own loan.
Is it better to pay extra monthly or once a year?
Monthly, for the same annual amount — the money starts removing interest eleven months sooner. On the same ₹50 lakh loan at 8.5%, ₹5,000 every month saves ₹13.9 lakh and ends the loan 53 months early, while the identical ₹60,000 paid once a year saves ₹13.1 lakh and 51 months. The gap is small, so if the money only exists when a bonus lands, pay it then rather than not at all — a larger yearly sum beats a smaller monthly one, and ₹1 lakh a year on this loan saves ₹18.6 lakh.
Will my EMI drop when I prepay?
Not unless you ask. Lenders apply a prepayment by shortening the tenure and leaving the EMI where it is, which is what produces the saving — the months that disappear are the ones at the end. If you ask for the EMI to be reduced instead, the term stays and most of the interest saving goes with it. Whichever you choose, get the confirmation in writing.