Home Loan EMI Calculator
Your EMI is the fixed amount you pay the bank every month until the loan is repaid. Move the sliders to see the EMI, the total interest and the total you will repay for any loan amount, interest rate and tenure. The default rate of 8.5% is only a starting point; use the rate your bank offers you.
- Monthly EMI
- ₹26,035
- Total interest
- ₹32,48,327
- Total payment
- ₹62,48,327
Estimate only. Your bank sets the final rate, tenure and loan amount, subject to approval.
How is EMI calculated?
Banks use the reducing-balance formula:
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
- P is the loan amount,
- r is the monthly interest rate (the yearly rate ÷ 12 ÷ 100),
- n is the number of monthly payments (years × 12).
Early EMIs are mostly interest; later ones are mostly principal. The chart shows how that split changes over the loan. A longer tenure lowers the EMI but raises the total interest you pay.
This is an estimate. Your bank decides the final rate, tenure and loan amount, subject to approval. Also budget for stamp duty and registration. Ask your bank whether the loan can cover these costs or whether you pay them from savings.