Home Loan EMI Calculator
Calculate your monthly home loan EMI, total interest and total repayment amount.
₹
%
yrs
20 years
Monthly EMI₹43,391
Principal Amount₹50,00,000
Total Interest₹54,13,879
Total Payment₹1,04,13,879
Principal vs Interest Breakdown by Year
▶How is this calculated?
EMI Formula:
EMI = P × r × (1+r)^n / ((1+r)^n - 1)
Where P = principal loan amount, r = monthly interest rate (annual rate ÷ 12 ÷ 100), n = total number of monthly installments.
Each EMI has two components: interest (calculated on the outstanding balance) and principal repayment. Over time, the interest portion decreases and the principal portion increases.
Frequently Asked Questions
How is home loan EMI calculated?▼
EMI is calculated using the formula: EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r is the monthly interest rate, and n is the number of monthly installments.
Does this calculator account for floating interest rates?▼
This calculator assumes a fixed interest rate throughout the tenure. Indian home loans are typically floating-rate, so your actual EMI may change when the lender revises rates. Use this as a snapshot based on the current rate.
Should I choose a longer or shorter tenure?▼
A shorter tenure means higher EMI but significantly less total interest. A longer tenure reduces EMI but increases total interest paid. The right choice depends on your monthly cash flow and financial goals.
Can I prepay my home loan?▼
Yes, most Indian home loans allow prepayment without penalty (as mandated by RBI for floating-rate loans). Even partial prepayments can save significant interest. Use our Home Loan Prepayment Calculator to see the impact.
This calculator provides estimates for informational purposes only. Actual outcomes may vary based on applicable laws, financial institutions, products and individual circumstances.