🏦 Loan
Home Loan EMI Calculator
Calculate your exact home loan EMI with bank rate presets. Get monthly payment, total interest, amortization schedule and income eligibility estimate instantly.
Home Loan Details
₹1L₹10 Cr
5%20%
1 yr30 yrs
Quick Fill — Bank Rates
Monthly EMI
₹--
per month
Principal--
Total Interest--
Total Payable--
Min. Income Needed--
Principal vs Interest
Principal
Interest
Formula
EMI = P × R × (1+R)N / [(1+R)N − 1]
P = Loan amount R = Monthly rate (Annual% ÷ 12 ÷ 100) N = Months
P = Loan amount R = Monthly rate (Annual% ÷ 12 ÷ 100) N = Months
Home loans use reducing-balance EMI. Min income = EMI ÷ 0.5 (banks allow max 50% of income as EMI). Section 24(b): deduct up to ₹2L interest under old tax regime.
Year-wise Amortization
| Year | Principal | Interest | Balance |
|---|
Frequently Asked Questions
RBI mandates: min 10% down for loans up to ₹30L (LTV 90%), min 20% for ₹30-75L (LTV 80%), min 25% for above ₹75L (LTV 75%). A higher down payment reduces EMI and total interest.
Under old tax regime: Section 24(b) — up to ₹2L deduction on interest per year for self-occupied property. Section 80C — up to ₹1.5L deduction on principal repayment. These deductions are not available under the new tax regime.
(1) Make annual prepayments — even ₹1L/year saves significant interest. (2) Opt for shorter tenure if EMI is manageable. (3) Do balance transfer to lower-rate lender. (4) Negotiate rate reduction when repo rate falls.