Home Loan EMI Calculator
Enter the loan amount, interest rate and tenure to see the monthly EMI and how much of what you repay is interest.
Monthly EMI
₹34,713
for 240 months
- Loan amount
- ₹40.00 L
- Total interest
- ₹43.31 L
- Total paid to the bank
- ₹83.31 L
- Interest as a share of what you pay
- 52%
Banks lend at most 80% of the price on a loan this size, so it suits a home of ₹50.00 L or more. What can I afford?
Reducing-balance EMI at a fixed rate. Floating rates change over the loan; processing fees and insurance are extra.
Questions buyers ask
How is a home loan EMI calculated?
EMI = P × r × (1 + r)^n / ((1 + r)^n − 1), where P is the loan, r the monthly interest rate (annual rate ÷ 12 ÷ 100) and n the number of monthly instalments. A ₹40 lakh loan at 8.5% for 20 years works out to about ₹34,713 a month.
Is a longer tenure better?
A longer tenure lowers the EMI but raises the total interest. On ₹40 lakh at 8.5%, 20 years costs about ₹43 lakh in interest; 30 years costs about ₹71 lakh.
Does the EMI change if the interest rate changes?
On a floating-rate loan, the bank adjusts the EMI or the remaining tenure when its rate changes. This calculator assumes the rate stays fixed.