Home loan EMI calculator (India)
Calculate monthly home loan EMI in India, total interest payable and overall repayment schedule based on loan amount, tenure and interest rate.
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By paying an extra ₹/month, you will pay off your loan in years instead of years, saving ₹ in interest ( years early)!
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About this tool
Calculate your monthly Home Loan EMI (Equated Monthly Installment) for Indian banks and housing finance companies. Compare loan tenures, view total interest cost, and discover how monthly prepayments can save lakhs in interest.
How to use it
- 1 Enter the home loan amount in Rupees.
- 2 Enter the annual interest rate offered by your lender (e.g. 8.5%).
- 3 Select loan tenure in years (e.g. 15, 20, or 30 years).
- 4 Optionally add a monthly prepayment amount to calculate early loan payoff and interest savings.
Questions
How is home loan EMI calculated in India?
EMI is calculated using reducing balance amortization: EMI = [P × r × (1+r)^n] / [(1+r)^n - 1], where P is principal, r is monthly interest rate, and n is number of months.
How does part-prepayment save interest on home loans?
Prepayments go 100% towards the loan principal, immediately reducing the outstanding balance upon which all subsequent interest is calculated.
Is my data uploaded?
No. This tool runs in your browser, so your text and files never reach our server.
Is this tool free?
Yes. It’s free to use with no sign-up and no limits for normal use.
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