Home Loan EMI Calculator
Calculate your monthly home loan EMI with full amortization schedule
Loan Details
Payment Breakup
Monthly EMI
₹43,391
per month for 20 years
Total Interest
₹54.14 L
52.0% of total
Total Payment
₹1.04 Cr
over 240 months
Total Cost
₹1.04 Cr
principal + interest
Principal vs Interest Split
Amortization Schedule
| Year | Total EMI | Principal | Interest | Balance |
|---|---|---|---|---|
| Year 1 | ₹5.21L | ₹99,511 | ₹4.21L | ₹49.00L |
| Year 2 | ₹5.21L | ₹1.08L | ₹4.12L | ₹47.92L |
| Year 3 | ₹5.21L | ₹1.18L | ₹4.03L | ₹46.74L |
| Year 4 | ₹5.21L | ₹1.28L | ₹3.92L | ₹45.46L |
| Year 5 | ₹5.21L | ₹1.40L | ₹3.81L | ₹44.06L |
| Year 6 | ₹5.21L | ₹1.52L | ₹3.69L | ₹42.54L |
| Year 7 | ₹5.21L | ₹1.65L | ₹3.55L | ₹40.89L |
| Year 8 | ₹5.21L | ₹1.80L | ₹3.41L | ₹39.09L |
| Year 9 | ₹5.21L | ₹1.96L | ₹3.25L | ₹37.13L |
| Year 10 | ₹5.21L | ₹2.13L | ₹3.07L | ₹35.00L |
| Year 11 | ₹5.21L | ₹2.32L | ₹2.89L | ₹32.68L |
| Year 12 | ₹5.21L | ₹2.53L | ₹2.68L | ₹30.15L |
Total EMI
₹5.21L
Balance
₹49.00L
Principal
₹99,511
Interest
₹4.21L
Total EMI
₹5.21L
Balance
₹47.92L
Principal
₹1.08L
Interest
₹4.12L
Total EMI
₹5.21L
Balance
₹46.74L
Principal
₹1.18L
Interest
₹4.03L
Total EMI
₹5.21L
Balance
₹45.46L
Principal
₹1.28L
Interest
₹3.92L
Total EMI
₹5.21L
Balance
₹44.06L
Principal
₹1.40L
Interest
₹3.81L
Total EMI
₹5.21L
Balance
₹42.54L
Principal
₹1.52L
Interest
₹3.69L
Total EMI
₹5.21L
Balance
₹40.89L
Principal
₹1.65L
Interest
₹3.55L
Total EMI
₹5.21L
Balance
₹39.09L
Principal
₹1.80L
Interest
₹3.41L
Total EMI
₹5.21L
Balance
₹37.13L
Principal
₹1.96L
Interest
₹3.25L
Total EMI
₹5.21L
Balance
₹35.00L
Principal
₹2.13L
Interest
₹3.07L
Total EMI
₹5.21L
Balance
₹32.68L
Principal
₹2.32L
Interest
₹2.89L
Total EMI
₹5.21L
Balance
₹30.15L
Principal
₹2.53L
Interest
₹2.68L
About Home Loan EMI in India
A home loan EMI (Equated Monthly Instalment) is the fixed amount you repay every month until your housing loan is fully paid off. It is calculated using the standard reducing-balance formula: EMI = [P × R × (1+R)^N] / [(1+R)^N − 1], where P is the principal, R is the monthly interest rate, and N is the tenure in months.
As of mid-2026, benchmark home loan rates in India are: SBI from 8.50% p.a., HDFC Bank from 8.75% p.a., and ICICI Bank from 8.75% p.a. for salaried borrowers with good credit scores (CIBIL 750+). Public sector banks generally offer slightly lower rates, while private banks and NBFCs may charge higher rates but often process loans faster.
Your EMI depends on three factors: the loan amount, the interest rate, and the tenure. A longer tenure reduces your monthly outgo but dramatically increases the total interest you pay. For example, a ₹50 lakh loan at 8.5% costs ₹43,613/month over 20 years but only ₹38,446/month over 30 years — yet the 30-year option costs ₹88 lakh in total interest versus ₹55 lakh for the 20-year option, a difference of ₹33 lakh.
Most Indian home loans are on a floating interest rate linked to the RBI repo rate via EBLR (External Benchmark Lending Rate) or MCLR. This means your EMI can change when RBI revises rates. Under RBI guidelines, banks cannot charge prepayment penalties on floating rate home loans, making part-prepayments an effective strategy to reduce total interest and shorten tenure.
Beyond the EMI, factor in one-time costs like processing fees (0.25%–1% of loan amount), legal/technical charges, and stamp duty on the property. Our calculator's processing fee field helps you see the true all-in cost of your home loan before you sign.
Frequently Asked Questions
What is the EMI for a ₹30 lakh home loan at 8.5%?
For a ₹30 lakh home loan at 8.5% annual interest over 20 years, the monthly EMI is approximately ₹26,035. Over the full tenure you would pay ₹62.48 lakh in total — meaning ₹32.48 lakh goes toward interest alone. Reducing the tenure to 15 years raises the EMI to ~₹29,498 but cuts total interest significantly, saving you around ₹7.5 lakh.
Which bank gives the lowest home loan rate in 2026?
As of mid-2026, SBI offers home loan rates starting at 8.50% p.a. for salaried borrowers with a CIBIL score above 750. Bank of Baroda and PNB are competitive at 8.50%–8.75%. Among private banks, HDFC Bank starts at ~8.75% and ICICI Bank at ~8.75%–9.00%. Rates vary by loan amount, tenure, and your credit profile. Always compare the full cost including processing fees, not just the headline rate.
What is the maximum home loan I can get on a ₹50,000 salary?
Most Indian banks follow a rule that your total EMI obligations should not exceed 40%–50% of your net monthly income. On a ₹50,000 net salary, your maximum EMI capacity is roughly ₹20,000–₹25,000. At 8.5% for 20 years, that translates to a loan of approximately ₹23–₹29 lakh. A co-applicant (spouse or parent) with additional income can significantly increase your eligibility. Banks also consider your age, existing liabilities, and employer category.
Can I get a home loan for 30 years?
Yes. Most major banks — including SBI, HDFC, ICICI, and LIC HFL — offer home loan tenures up to 30 years, subject to your age at loan maturity not exceeding 70 (or retirement age, whichever is earlier). A 30-year tenure substantially reduces the EMI compared to 20 years — for a ₹50L loan at 8.5%, the EMI drops from ~₹43,613 to ~₹38,446 — but you pay nearly ₹88 lakh in total interest vs ₹55 lakh, so choose wisely.
Does prepayment reduce EMI or tenure?
When you make a lump-sum prepayment on a floating rate home loan, the bank typically gives you the choice: reduce your EMI (keep the same tenure) or reduce your tenure (keep the same EMI). Mathematically, reducing the tenure saves far more interest because your higher future EMIs keep compounding less interest. Most financial advisors recommend opting for tenure reduction unless you genuinely need the monthly cash-flow relief.