Home Loan EMI Calculator
Home loans are the longest-tenure loans most Indians take. A small change in rate or tenure can swing lifetime interest by lakhs of rupees. Use this calculator to try different combinations before finalising your loan.
By FinancePaisa Editorial Team · Research & editorialUpdated
₹
%
Compare lenders’ current rates on the loan rates page.
years
₹
Paid after every 12th EMI, with the EMI kept the same so the loan closes sooner.
What this means
Every ₹1 lakh you borrow costs ₹821 a month on these terms.
Cutting the tenure to 15 years raises the EMI to ₹47,064 but saves ₹13.80 lakh in interest.
Your monthly EMI₹41,047
Principal 51%Interest 49%
Principal₹50.00 lakh
Total interest₹48.51 lakh
Total you repay₹98,51,383
Could you pay it off faster? Try the prepayment calculatorYear-by-year schedule
| Year | Principal paid | Interest paid | Split | Balance at year end |
|---|---|---|---|---|
| 1 | ₹1,08,883 | ₹3,83,686 | ₹48,91,117 | |
| 2 | ₹1,17,628 | ₹3,74,942 | ₹47,73,490 | |
| 3 | ₹1,27,075 | ₹3,65,495 | ₹46,46,415 | |
| 4 | ₹1,37,280 | ₹3,55,289 | ₹45,09,135 | |
| 5 | ₹1,48,306 | ₹3,44,263 | ₹43,60,829 | |
| 20 | ₹4,72,500 | ₹20,069 | ₹0 |
- Year 1Balance ₹48,91,117Principal ₹1,08,883Interest ₹3,83,686
- Year 2Balance ₹47,73,490Principal ₹1,17,628Interest ₹3,74,942
- Year 3Balance ₹46,46,415Principal ₹1,27,075Interest ₹3,65,495
- Year 4Balance ₹45,09,135Principal ₹1,37,280Interest ₹3,55,289
- Year 5Balance ₹43,60,829Principal ₹1,48,306Interest ₹3,44,263
- Year 20Balance ₹0Principal ₹4,72,500Interest ₹20,069
Figures use the standard reducing-balance method and are rounded to the nearest rupee. Your lender's schedule may differ slightly because of rounding and the date of your first EMI.
Interpreting the numbers
On a ₹50 lakh home loan at 7.75% for 20 years, the monthly EMI is ₹41,047. Over the full tenure you pay about ₹48.5 lakh in interest. Shortening the tenure to 15 years raises the EMI to ₹47,064 but cuts total interest by about ₹13.8 lakh.
How to reduce total interest
- Choose the shortest tenure your EMI budget allows
- Make part-payments annually with bonuses
- Refinance to a lower rate if the gap is about 0.4 percentage points or more (check with the balance transfer calculator)
- Increase EMI by 5-10% each year as income grows
Frequently asked questions
Advertisement