Enter your loan details. Real-time calculation updates as you type; click "Calculate EMI" for the full breakdown.
Loan modes explained
Toggle between Reducing Balance (standard Indian loans), Flat Rate (consumer/NBFC), Step-Up EMI (income growth), OD-Linked (SBI MaxGain), and Bullet (bridge loans).
How this mode works
This is your monthly instalment. It stays the same every month (for fixed-rate loans).
See how your principal and interest components change over time. The blue dashed line shows your declining loan balance.
Complete month-by-month breakdown showing exactly how much of each EMI goes toward principal repayment vs interest. Track your loan balance as it declines. Year 1-5 shown by default - use the dropdown to see later years or the full schedule.
| Month | Due Date | Opening Balance | EMI | Principal | Interest | Closing Balance | Cumulative Interest | Paid % |
|---|
See how extra payments can save you lakhs in interest. A monthly overpayment of even ₹5,000 can reduce a 20-year loan by 3-5 years. RBI rules: No foreclosure charges on floating-rate individual home loans.
Simulate a +1.5%, +3% or +5% rate shock on your EMI and total interest.
How the stress test works
What if RBI hikes the repo rate and your bank raises your interest? Simulate a +1.5%, +3%, or +5% rate shock to see how your EMI and total interest change. This is a must-check before taking a floating-rate loan.
Compare up to 3 loan offers side by side.
What gets compared
Compare different loan amounts, interest rates, and tenures to find the lowest total cost. Perfect when evaluating multiple bank offers.
Estimate income tax savings from your home loan (old regime).
How tax savings work
Calculate your income tax savings from your home loan. Available under the old tax regime. Joint loans get double the deduction limits.
Check whether your EMI fits your monthly income.
What the check means
Enter your monthly income to check if your EMI is affordable. Financial experts recommend keeping total EMIs below 40-50% of your monthly income.
How is EMI calculated in India?
EMI uses the reducing balance method: E = P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r is the monthly interest rate (annual rate / 12) and n is the number of months. Each EMI has an interest part (on the remaining balance) and a principal part. Early EMIs are mostly interest; later EMIs are mostly principal.
What's the difference between reducing balance and flat rate?
Reducing balance charges interest only on the outstanding (declining) principal - this is what banks use. Flat rate charges interest on the full original principal for the entire tenure. A 12% flat rate equals roughly a 21% effective reducing rate (varies by tenure). Always compare using the reducing balance method.
How can I save the most interest on my home loan?
1. Make regular prepayments (even ₹5,000/month saves lakhs). 2. Choose shorter tenure (higher EMI, lower total interest). 3. Use an OD-linked loan (SBI MaxGain) to park surplus. 4. Transfer your loan when you find a lower rate (after calculating break-even).
What is the maximum home loan tenure in India?
Maximum home loan tenure is 30 years (or until the borrower turns 70-75, whichever is earlier). Longer tenure = lower EMI but significantly higher total interest. A ₹50L loan at 8.5% costs ₹56L in interest over 20 years vs ₹92L over 30 years.
Are prepayment charges applicable on home loans?
Per RBI guidelines (2012), banks cannot charge prepayment penalties on floating-rate home loans for individual borrowers. Fixed-rate loans and loans from NBFCs may still charge 2-4% foreclosure fees.
What is the EMI for a ₹50 lakh home loan at 8.5% for 20 years?
A ₹50,00,000 home loan at 8.5% per annum for 20 years has an EMI of ₹43,391 per month, with total interest of ₹54,13,879 and total payment of ₹1,04,13,879. Use the calculator above and set the loan type to Home Loan to verify.
Which is cheaper: reducing balance or flat rate EMI?
Reducing balance is always cheaper for the same stated interest rate, because interest is charged only on the outstanding principal. A flat rate loan with the same number looks cheaper but carries a much higher effective rate. Always convert flat rate to its reducing balance equivalent before comparing.
What are the tax benefits on a home loan in India?
Home loan borrowers can claim Section 80C deduction up to ₹1.5 lakh on principal repayment and Section 24(b) deduction up to ₹2 lakh on interest paid for a self-occupied house. For a let-out property, the entire interest is deductible with no ₹2 lakh cap. Use the Tax Benefits panel in this calculator to estimate savings.
What is the current home loan interest rate in India?
As of August 2026, home loan rates from major Indian lenders range from about 8.40% to 9.80% per annum (SBI 8.40-9.15%, HDFC 8.50-9.25%, ICICI 8.55-9.30%, LIC Housing 8.45-9.20%). Rates vary by credit score, loan amount and the lender's repo-linked pricing. Check our Finance News section for the latest RBI policy updates.
How do I compare two loan offers side by side?
Compare the EMI, total interest, total payment and effective rate of each offer for the same principal and tenure. The lower total payment wins, not the lower EMI alone - a longer tenure reduces EMI but increases total interest. Use our Loan Comparison tool to compare up to 5 offers at once.