Enter your loan details below. Real-time calculation updates as you type, or click "Calculate EMI" for a full breakdown. Toggle between Reducing Balance (standard Indian loans), Flat Rate (consumer/NBFC), Step-Up EMI (income growth), OD-Linked (SBI MaxGain), and Bullet (bridge loans).
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 | Principal (₹) | Interest (₹) | Balance (₹) | Paid % |
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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.
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 different loan amounts, interest rates, and tenures to find the lowest total cost. Perfect when evaluating multiple bank offers.
Calculate your income tax savings from your home loan. Available under the old tax regime. Joint loans get double the deduction limits.
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 × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1). 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 ≈ 21% effective reducing rate. Always compare using reducing balance.
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.