Home Loan EMI Calculator
Work out exactly what a home loan costs each month — and how much of it is interest. Adjust the amount, rate and tenure to see the trade-offs instantly.
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹99,511 | ₹4.21 L | ₹49.00 L |
| 2 | ₹1.08 L | ₹4.12 L | ₹47.92 L |
| 3 | ₹1.18 L | ₹4.03 L | ₹46.74 L |
| 4 | ₹1.28 L | ₹3.92 L | ₹45.46 L |
| 5 | ₹1.40 L | ₹3.81 L | ₹44.06 L |
| 6 | ₹1.52 L | ₹3.69 L | ₹42.54 L |
| 7 | ₹1.65 L | ₹3.55 L | ₹40.89 L |
| 8 | ₹1.80 L | ₹3.41 L | ₹39.09 L |
| 9 | ₹1.96 L | ₹3.25 L | ₹37.13 L |
| 10 | ₹2.13 L | ₹3.07 L | ₹35.00 L |
| 11 | ₹2.32 L | ₹2.89 L | ₹32.68 L |
| 12 | ₹2.53 L | ₹2.68 L | ₹30.15 L |
| 13 | ₹2.75 L | ₹2.46 L | ₹27.40 L |
| 14 | ₹2.99 L | ₹2.21 L | ₹24.41 L |
| 15 | ₹3.26 L | ₹1.95 L | ₹21.15 L |
| 16 | ₹3.55 L | ₹1.66 L | ₹17.60 L |
| 17 | ₹3.86 L | ₹1.35 L | ₹13.75 L |
| 18 | ₹4.20 L | ₹1.01 L | ₹9.55 L |
| 19 | ₹4.57 L | ₹63,604 | ₹4.97 L |
| 20 | ₹4.97 L | ₹23,202 | ₹0 |
Frequently asked questions
How is home loan EMI calculated?
EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan principal, r is the monthly interest rate (annual rate divided by 12 and by 100) and n is the number of monthly instalments. Each EMI is part interest and part principal; early instalments are mostly interest, and the balance shifts towards principal over time.
Does a longer tenure reduce my home loan cost?
No. A longer tenure lowers the monthly EMI but raises the total interest you pay, often substantially. A 20-year loan at 8.5% costs far more in total interest than the same loan over 15 years, even though the monthly outgo feels lighter.
How much home loan can I get on my salary?
Most Indian lenders cap your total EMIs at roughly 40-55% of net monthly income, a ratio called FOIR. Existing loans count against that ceiling. Our home affordability calculator applies this rule to estimate your eligible loan and target property price.
Does prepaying a home loan help?
Yes, and most in the early years, when your EMI is mostly interest. A prepayment reduces the outstanding principal directly, so all future interest is charged on a smaller balance. Floating-rate home loans to individuals carry no prepayment penalty under RBI rules.