Home Loan EMI Calculator
Free online home loan EMI calculator. Estimate your monthly EMI, total interest, and view a complete year-wise amortization schedule.
Home Loan EMI Calculator — Plan Your Housing Loan Confidently
A home loan is the biggest financial commitment most families ever make. At 8.5% a year, a 20-year loan of ₹50 lakh costs about ₹54 lakh in interest — more than the amount you borrowed. Knowing your exact EMI, total interest, and amortisation schedule before you sign is essential. Our Home Loan EMI Calculator gives you all of this in seconds.
Enter the loan amount, interest rate, and tenure to see your monthly EMI, total interest payable, and a year-wise amortisation schedule. Enter each lender's rate in turn to see which offer costs you least. No signup, no cost.
How to Calculate Home Loan EMI
1. Enter Loan Amount
Enter the home loan principal — the part of the property price your lender will finance.
2. Interest Rate
Enter the rate offered by your bank. Use the rate in your sanction letter, or the one quoted to you.
3. Tenure
Choose the loan tenure — typically 10, 15, 20, 25, or 30 years for home loans.
4. View Schedule
See EMI, total interest, total payment, and a year-by-year breakdown of principal vs interest.
Home Loan Calculator Features
Full Amortisation Schedule
A year-wise table of the principal and interest you pay, the total paid and the balance left at the end of every year.
Visual Breakdown
A chart shows how much of everything you repay is principal and how much is interest.
Instant Recalculation
Change any input and the EMI, totals, chart and schedule update at once, so you can try one scenario after another.
Multiple Currencies
Show amounts with the rupee, US dollar, euro, pound or yen symbol, or the Australian, Canadian or Singapore dollar. Only the symbol changes; nothing is converted.
Type or Slide
Drag a slider, or type an exact figure into the box beside it — typed amounts can go past the end of the slider.
Free and Private
No signup, no tracking. Runs entirely in your browser.
How the Home Loan EMI Is Calculated
The calculator uses the standard reducing-balance formula: EMI = P × r × (1 + r)n ÷ [(1 + r)n − 1], where P is the loan amount, r is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments (years × 12). Total payment is EMI × n, and total interest is the total payment minus P.
For the schedule, each month’s interest is the balance still owed × r, and the rest of the instalment repays principal. The table adds up the twelve months of each year.
Worked example: a home loan of ₹50,00,000 at 8.5% a year for 20 years.
- r = 8.5 ÷ 12 ÷ 100 = 0.0070833 a month, and n = 240 instalments.
- EMI = ₹43,391 a month.
- Total payment = ₹1,04,13,879, so the total interest is ₹54,13,879.
- In year 1, ₹4,21,182 of your payments goes to interest and only ₹99,511 to principal, leaving ₹49,00,489 to repay.
Amounts are rounded to the nearest rupee on screen; the calculation itself is not rounded, so multiplying the rounded figures can differ by a few rupees.