Home Loan EMI Calculator
Exact EMI + total interest + amortization — any Indian bank
Home Loan EMI Calculator is a free, browser-based tool that lets you exact emi + total interest + amortization — any indian bank — with zero signup, zero installation. Your data never leaves your browser. Part of 116+ free developer and business tools at wowhow.cloud, built and maintained by a team with 14+ years of hands-on development experience.
Loan Details
Your Monthly EMI
Rs 43,391
for 20 years at 8.5% p.a.
Total Interest
Rs 54,13,879
Total Payment
Rs 1,04,13,879
Processing Fee
Rs 25,000
Effective Cost
Rs 54,38,879
Principal vs Interest
Affordability Check
Year-wise Amortization Schedule
| Year | Opening Balance | EMI Paid | Principal Paid | Interest Paid | Closing Balance |
|---|---|---|---|---|---|
| 1 | Rs 50,00,000 | Rs 5,20,694 | Rs 99,511 | Rs 4,21,182 | Rs 49,00,489 |
| 2 | Rs 49,00,489 | Rs 5,20,694 | Rs 1,08,307 | Rs 4,12,387 | Rs 47,92,181 |
| 3 | Rs 47,92,181 | Rs 5,20,694 | Rs 1,17,881 | Rs 4,02,813 | Rs 46,74,300 |
| 4 | Rs 46,74,300 | Rs 5,20,694 | Rs 1,28,300 | Rs 3,92,394 | Rs 45,46,000 |
| 5 | Rs 45,46,000 | Rs 5,20,694 | Rs 1,39,641 | Rs 3,81,053 | Rs 44,06,359 |
| 6 | Rs 44,06,359 | Rs 5,20,694 | Rs 1,51,984 | Rs 3,68,710 | Rs 42,54,375 |
| 7 | Rs 42,54,375 | Rs 5,20,694 | Rs 1,65,418 | Rs 3,55,276 | Rs 40,88,957 |
| 8 | Rs 40,88,957 | Rs 5,20,694 | Rs 1,80,039 | Rs 3,40,655 | Rs 39,08,918 |
| 9 | Rs 39,08,918 | Rs 5,20,694 | Rs 1,95,953 | Rs 3,24,741 | Rs 37,12,965 |
| 10 | Rs 37,12,965 | Rs 5,20,694 | Rs 2,13,274 | Rs 3,07,420 | Rs 34,99,691 |
| 11 | Rs 34,99,691 | Rs 5,20,694 | Rs 2,32,125 | Rs 2,88,569 | Rs 32,67,566 |
| 12 | Rs 32,67,566 | Rs 5,20,694 | Rs 2,52,643 | Rs 2,68,051 | Rs 30,14,923 |
| 13 | Rs 30,14,923 | Rs 5,20,694 | Rs 2,74,974 | Rs 2,45,720 | Rs 27,39,949 |
| 14 | Rs 27,39,949 | Rs 5,20,694 | Rs 2,99,279 | Rs 2,21,415 | Rs 24,40,670 |
| 15 | Rs 24,40,670 | Rs 5,20,694 | Rs 3,25,733 | Rs 1,94,961 | Rs 21,14,937 |
| 16 | Rs 21,14,937 | Rs 5,20,694 | Rs 3,54,525 | Rs 1,66,169 | Rs 17,60,412 |
| 17 | Rs 17,60,412 | Rs 5,20,694 | Rs 3,85,862 | Rs 1,34,832 | Rs 13,74,550 |
| 18 | Rs 13,74,550 | Rs 5,20,694 | Rs 4,19,968 | Rs 1,00,726 | Rs 9,54,582 |
| 19 | Rs 9,54,582 | Rs 5,20,694 | Rs 4,57,090 | Rs 63,604 | Rs 4,97,492 |
| 20 | Rs 4,97,492 | Rs 5,20,694 | Rs 4,97,492 | Rs 23,202 | Rs 0 |
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About Home Loan EMI Calculator
A home loan is the largest financial commitment most Indians make — typically 20-30 years and Rs 30-80 lakh. Knowing your exact monthly EMI before you sign is non-negotiable. This calculator uses the standard amortization formula to show your monthly payment, the total interest you will pay over the full tenure, and a year-wise breakdown of how each rupee is allocated between principal and interest repayment.
How It Works
Home loan EMI is calculated using the standard monthly amortization formula: EMI = P × r × (1+r)^n / [(1+r)^n - 1], where P is the loan principal (home price minus down payment), r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the total number of monthly EMIs (years × 12). For a Rs 50 lakh loan at 9% for 20 years: r = 0.0075, n = 240, EMI = Rs 44,986.
The amortization schedule breaks each EMI into its two components. In EMI month t, the interest component = Outstanding Principal × monthly rate, and the principal component = EMI - interest. As principal reduces each month, the interest component falls and the principal component rises — a process called amortization. In the early years (years 1-5 of a 20-year loan), typically 70-80% of each EMI goes toward interest, not principal repayment.
The calculator also shows total interest paid = (EMI × n) - Principal. For a Rs 50 lakh loan at 9% for 20 years, total interest = Rs 57.97 lakh — more than the principal itself. This explains why prepayment in early years dramatically reduces total cost, and why the tax deductions under Section 80C (principal) and Section 24(b) (interest up to Rs 2 lakh) are valuable.
Who Is This For
A Pune software engineer has been approved for Rs 65 lakh home loan at 8.75% for 25 years and wants to see if the Rs 53,200 EMI fits within 40% of their Rs 1.3 lakh monthly take-home.
A buyer comparing two bank offers — SBI at 8.50% vs HDFC at 8.75% for Rs 45 lakh, 20 years — uses the calculator to find SBI saves Rs 897/month and Rs 2.15 lakh total over the tenure.
A Mumbai couple planning to make a Rs 5 lakh prepayment in year 4 of their 20-year loan wants to estimate the revised EMI and new tenure after the prepayment.
A first-time buyer considering 15-year vs 20-year tenure on Rs 40 lakh at 9% — comparing Rs 40,584 EMI (15yr) vs Rs 35,989 EMI (20yr) and Rs 33.1 lakh vs Rs 46.4 lakh total interest.
An NRI purchasing a property in India needs to check eligibility: how much loan is needed after a 30% down payment on a Rs 1.2 crore apartment, and the resulting EMI.
Scope note: This calculator uses a constant interest rate throughout the loan tenure. In practice, floating rate loans (tied to RLLR or MCLR) change periodically — a rate increase extends tenure or increases EMI. Processing fees (0.5-1% of loan), legal charges, stamp duty, and registration costs are not included in the loan amount modeled here. Tax deduction calculations assume self-occupied property and Old Tax Regime; the New Tax Regime does not allow Section 24(b) or 80C deductions.
How to Use
Enter your desired home loan amount
Set the interest rate offered by your bank
Choose loan tenure (5 to 30 years)
View monthly EMI, total interest, and year-wise amortization schedule
Frequently Asked Questions
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