Home Loan EMI Calculator
Monthly EMI, total interest and total payment for a home loan.
Monthly EMI
₹26,035
Total interest
₹32,48,327
Total payment
₹62,48,327
How the home loan EMI is worked out
Banks use the reducing-balance formula EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P is the loan amount, r the monthly rate and n the number of months. Home loans also give tax benefits: up to ₹1.5 lakh on principal (Sec 80C) and ₹2 lakh on interest (Sec 24b) under the old tax regime.
Tips to lower your EMI
A higher down payment, a better CIBIL score (750+) and comparing offers from 3–4 lenders usually bring the rate down. A longer tenure lowers the EMI but raises the total interest — check both numbers above before you sign.
Frequently asked questions
Does the EMI include processing fees?
No. Processing fees, insurance and GST on fees are charged separately. Ask your bank for the Key Fact Statement (KFS), which RBI requires lenders to share.
Fixed or floating rate?
Most home loans are floating and linked to the repo rate through an external benchmark (EBLR). When RBI changes the repo rate, your rate and EMI or tenure can change.
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Results are estimates for planning only. Confirm final figures with your bank or a tax advisor.
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