Home loan EMI calculator

EMI stands for equated monthly instalment: the fixed amount you pay your bank every month until the loan is repaid. Part of each payment is interest and the rest repays the loan. The split changes every month; the amount does not.

The calculator uses the standard formula every bank uses: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1). P is the loan amount and n is the number of months. r is the yearly rate divided by 12 and then by 100. On ₹50 lakh at 8.5% over 20 years that gives ₹43,391 a month.

Interest is charged each month on what you still owe. In the first year you owe nearly the whole loan, so most of the EMI goes to interest. As the balance falls, more of the same EMI clears the loan. On ₹50 lakh at 8.5% over 20 years, the first year pays ₹4,21,182 in interest and ₹99,511 off the loan.

A longer loan lowers the monthly payment and raises the total interest. On ₹50 lakh at 8.5%, over 20 years you pay ₹54,13,879 in interest, at ₹43,391 a month. Over 30 years you pay ₹88,40,443, at ₹38,446 a month. Choose the years by what you can carry each month, then look at the total.

No. The rate on this page is the one you set. Your bank sets its own rate, and it can change over the life of the loan. Nothing here is a loan offer.

The EMI covers the loan and its interest only. Bank processing fees, loan insurance, and the stamp duty and registration charges on the purchase are not counted.

Yes. Every property page with a starting price prints the EMI on that price and links here with the amount already set. Change the rate and the years to see what that property would cost you a month.