EMI Calculator
The EMI on a ₹50 lakh home loan at 8.5% for 20 years is about ₹43,391 a month, with total interest of about ₹54.14 lakh.
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An EMI (equated monthly instalment) repays a loan in equal monthly payments that cover both interest and principal.
How the emi calculation works
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where r is the monthly interest rate and n the number of months.
Example
A ₹50,00,000 home loan at 8.5% for 20 years has an EMI of about ₹43,391, with total interest of about ₹54,13,879.
EMI Calculator scenarios
| Loan amount | 5 years | 10 years | 15 years | 20 years | 30 years |
|---|---|---|---|---|---|
| ₹5.00 lakh | ₹10,258 | ₹6,199 | ₹4,924 | ₹4,339 | ₹3,845 |
| ₹10.00 lakh | ₹20,517 | ₹12,399 | ₹9,847 | ₹8,678 | ₹7,689 |
| ₹25.00 lakh | ₹51,291 | ₹30,996 | ₹24,618 | ₹21,696 | ₹19,223 |
| ₹50.00 lakh | ₹1,02,583 | ₹61,993 | ₹49,237 | ₹43,391 | ₹38,446 |
| ₹75.00 lakh | ₹1,53,874 | ₹92,989 | ₹73,855 | ₹65,087 | ₹57,669 |
| ₹1.00 crore | ₹2,05,165 | ₹1,23,986 | ₹98,474 | ₹86,782 | ₹76,891 |
What changes the result
- Interest rate: on a 20-year loan, each 0.5 percentage point changes the EMI by roughly 3–4%.
- Tenure: a longer tenure lowers the EMI but raises the total interest sharply.
- Loan amount — a larger down payment reduces both the EMI and the interest.
- Floating rates: most home loans are linked to an external benchmark such as the RBI repo rate, so the EMI or tenure can change when rates move.
- Prepayments, which cut the outstanding principal and the interest that follows.
How to use this calculator
- Enter the loan amount.
- Enter the annual interest rate offered by the lender.
- Enter the tenure in years or months.
- Read the monthly EMI, the total interest and the total amount payable.
EMI Calculator FAQs
Does prepaying reduce EMI or tenure?
Lenders usually let you choose. Reducing tenure saves more interest overall.
Is processing fee included?
No. Processing fees, insurance and other charges are not part of the EMI calculation.
Are there charges for prepaying a floating-rate home loan?
RBI rules do not allow banks and NBFCs to levy foreclosure or prepayment charges on floating-rate term loans taken by individuals for purposes other than business. Fixed-rate loans may carry charges; check your loan agreement.
What tax benefits apply to a home loan?
Under the old regime, interest on a self-occupied home loan is deductible up to ₹2 lakh a year under Section 24(b), and principal repayment counts towards the ₹1.5 lakh Section 80C limit. The new regime does not allow these deductions for a self-occupied home (FY 2025-26).
Why is most of the early EMI interest?
Interest is charged on the outstanding balance, which is highest at the start. As principal is repaid, the interest share of each EMI falls and the principal share rises.
Results are estimates for planning only and are not financial, tax or investment advice. Check figures with your bank, fund house or tax adviser before acting on them.