Home Loan EMI Calculator — Monthly Payment, Interest & Amortization (India)
Calculate your home loan EMI, total interest payable, and amortization schedule. Compare tenures, see prepayment savings, and plan your housing budget.
A home loan is the largest financial commitment most Indians will ever make — ₹30–80 lakh borrowed over 15–30 years. Yet most buyers focus on the EMI and ignore the total interest, which often exceeds the principal itself. The CalcHub Home Loan Calculator shows the full picture.
Home Loan EMI Table
At 8.50% interest rate:| Loan Amount | 15 Years EMI | 20 Years EMI | 25 Years EMI | 30 Years EMI |
|---|---|---|---|---|
| ₹20 lakh | ₹19,695 | ₹17,356 | ₹16,071 | ₹15,373 |
| ₹30 lakh | ₹29,543 | ₹26,034 | ₹24,106 | ₹23,060 |
| ₹40 lakh | ₹39,391 | ₹34,712 | ₹32,142 | ₹30,747 |
| ₹50 lakh | ₹49,238 | ₹43,391 | ₹40,177 | ₹38,433 |
| ₹75 lakh | ₹73,858 | ₹65,086 | ₹60,266 | ₹57,650 |
| ₹1 crore | ₹98,477 | ₹86,781 | ₹80,355 | ₹76,867 |
The Real Cost: Total Interest
₹50 lakh home loan at 8.50%:| Tenure | Monthly EMI | Total Paid | Total Interest | Interest as % of Loan |
|---|---|---|---|---|
| 15 years | ₹49,238 | ₹88,63,000 | ₹38,63,000 | 77% |
| 20 years | ₹43,391 | ₹1,04,14,000 | ₹54,14,000 | 108% |
| 25 years | ₹40,177 | ₹1,20,53,000 | ₹70,53,000 | 141% |
| 30 years | ₹38,433 | ₹1,38,36,000 | ₹88,36,000 | 177% |
Impact of Interest Rate
₹50 lakh, 20-year tenure:| Interest Rate | Monthly EMI | Total Interest | Difference from 8% |
|---|---|---|---|
| 8.00% | ₹41,822 | ₹50,37,000 | — |
| 8.25% | ₹42,603 | ₹52,25,000 | +₹1,88,000 |
| 8.50% | ₹43,391 | ₹54,14,000 | +₹3,77,000 |
| 8.75% | ₹44,186 | ₹56,05,000 | +₹5,68,000 |
| 9.00% | ₹44,986 | ₹57,97,000 | +₹7,60,000 |
| 9.50% | ₹46,607 | ₹61,86,000 | +₹11,49,000 |
Prepayment — The Most Powerful Strategy
₹50 lakh at 8.50%, 20 years, with annual prepayment:| Annual Prepayment | Total Interest | Interest Saved | Years Saved |
|---|---|---|---|
| None | ₹54,14,000 | — | — |
| ₹50,000/year | ₹47,20,000 | ₹6,94,000 | 3 years |
| ₹1,00,000/year | ₹41,50,000 | ₹12,64,000 | 5 years |
| ₹2,00,000/year | ₹33,10,000 | ₹21,04,000 | 8 years |
| ₹3,00,000/year | ₹27,20,000 | ₹26,94,000 | 10 years |
Tax Benefits on Home Loan
| Section | Benefit | Max Limit | Available In |
|---|---|---|---|
| 24(b) | Interest paid on home loan | ₹2,00,000/year | Old regime only |
| 80C | Principal repayment | ₹1,50,000/year (shared limit) | Old regime only |
| 80EEA | Additional interest (first-time buyers) | ₹1,50,000/year | Old regime (for loans up to ₹35L on property ≤ ₹45L) |
- Loan rate: 8.50%
- Tax saving on ₹2 lakh interest: ₹62,400/year
- Effective rate: approximately 6.8–7.2%
How to Use the Calculator
- Open the CalcHub Home Loan Calculator
- Enter loan amount (₹)
- Enter interest rate (%)
- Enter loan tenure (years)
- See: monthly EMI, total interest, total payment, and full amortization schedule
Eligibility — How Much Can You Borrow?
Banks typically approve loans where EMI is ≤ 40–50% of net monthly income:
| Monthly Income | Max EMI (40%) | Approximate Loan (8.5%, 20 yr) |
|---|---|---|
| ₹50,000 | ₹20,000 | ₹23 lakh |
| ₹75,000 | ₹30,000 | ₹35 lakh |
| ₹1,00,000 | ₹40,000 | ₹46 lakh |
| ₹1,50,000 | ₹60,000 | ₹69 lakh |
| ₹2,00,000 | ₹80,000 | ₹92 lakh |
Should I take a 20-year or 30-year home loan?
Take the shortest tenure where the EMI is comfortably affordable (under 35–40% of income). If you can afford the 20-year EMI, never choose 30 years — you'll save 40%+ in total interest. You can always prepay to shorten the tenure further.
Fixed rate or floating rate?
In India, floating rates are typically 0.5–1% lower than fixed. Most borrowers choose floating. But if rates are at historic lows, a fixed rate protects against future hikes. Currently, with rates at 8–9%, floating is the standard choice.
Can I transfer my home loan to another bank?
Yes — balance transfer is common and can save lakhs if you find a lower rate. The new bank pays off your existing loan and issues a new one. There's usually a processing fee (0.5–1%), but the savings from a lower rate typically far exceed this cost.
Related Calculators
- Loan EMI Calculator — generic EMI for any loan
- Stamp Duty Calculator — registration costs
- Rent vs Buy Calculator — should you rent or buy?
- Income Tax Calculator — home loan tax benefits