SBI home loan EMI calculator
Calculate monthly EMI and total interest for SBI, HDFC and ICICI home loans, with prepayment savings and reducing balance schedule. Free.
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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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Also with the home loan emi calculator (india)
About this tool
Calculate monthly EMI for SBI and other major Indian bank home loans based on loan amount, tenure, and reducing interest rates.
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
What is the EMI for a 50 Lakh home loan for 20 years at 8.5%?
The monthly EMI is approximately ₹43,391, resulting in total interest of ₹54,13,879 over the 20-year tenure.
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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