Home Loan EMI Calculator
Calculate your monthly EMI for home loans with processing fees and tenure flexibility.
Monthly EMI
₹43,391
Total Payment
₹1,04,13,840
Total Interest
₹54,13,840
Processing Fee
₹25,000
Tax Benefit (Sec 24 + 80C)
₹2,99,510
Loading chart...
Yearly Amortization Schedule
| Year | Principal Paid | Interest Paid | Total Paid | Outstanding Balance |
|---|---|---|---|---|
| Year 1 | ₹99,510 | ₹4,21,182 | ₹5,20,692 | ₹49,00,490 |
| Year 2 | ₹1,08,306 | ₹4,12,386 | ₹5,20,692 | ₹47,92,184 |
| Year 3 | ₹1,17,879 | ₹4,02,813 | ₹5,20,692 | ₹46,74,305 |
| Year 4 | ₹1,28,298 | ₹3,92,394 | ₹5,20,692 | ₹45,46,007 |
| Year 5 | ₹1,39,638 | ₹3,81,054 | ₹5,20,692 | ₹44,06,369 |
| Year 6 | ₹1,51,981 | ₹3,68,711 | ₹5,20,692 | ₹42,54,388 |
| Year 7 | ₹1,65,414 | ₹3,55,278 | ₹5,20,692 | ₹40,88,974 |
| Year 8 | ₹1,80,038 | ₹3,40,654 | ₹5,20,692 | ₹39,08,936 |
| Year 9 | ₹1,95,950 | ₹3,24,742 | ₹5,20,692 | ₹37,12,986 |
| Year 10 | ₹2,13,272 | ₹3,07,420 | ₹5,20,692 | ₹34,99,714 |
| Year 11 | ₹2,32,121 | ₹2,88,571 | ₹5,20,692 | ₹32,67,593 |
| Year 12 | ₹2,52,638 | ₹2,68,054 | ₹5,20,692 | ₹30,14,955 |
| Year 13 | ₹2,74,969 | ₹2,45,723 | ₹5,20,692 | ₹27,39,986 |
| Year 14 | ₹2,99,275 | ₹2,21,417 | ₹5,20,692 | ₹24,40,711 |
| Year 15 | ₹3,25,729 | ₹1,94,963 | ₹5,20,692 | ₹21,14,982 |
| Year 16 | ₹3,54,519 | ₹1,66,173 | ₹5,20,692 | ₹17,60,463 |
| Year 17 | ₹3,85,855 | ₹1,34,837 | ₹5,20,692 | ₹13,74,608 |
| Year 18 | ₹4,19,960 | ₹1,00,732 | ₹5,20,692 | ₹9,54,648 |
| Year 19 | ₹4,57,082 | ₹63,610 | ₹5,20,692 | ₹4,97,566 |
| Year 20 | ₹4,97,483 | ₹23,209 | ₹5,20,692 | ₹83 |
What is a Home Loan EMI?
A home loan EMI (Equated Monthly Instalment) is the fixed amount you pay to the bank every month until the loan is fully repaid. It consists of two components — the principal amount and the interest on the outstanding loan. In the initial years, a larger portion of the EMI goes towards interest, and as the loan matures, more goes towards principal repayment.
Home Loan Interest Rates in India
Home loan interest rates in India typically range from 8% to 10% per annum. Most banks offer floating rate home loans linked to the RBI repo rate. SBI, HDFC Bank, ICICI Bank, and other major lenders regularly update their rates. It is advisable to compare rates across banks before choosing a home loan. A lower interest rate can save lakhs over the tenure of the loan.
Tax Benefits on Home Loans
Under the old tax regime, home loan borrowers can claim deductions on both principal and interest. Section 24(b) allows a deduction of up to Rs 2,00,000 per year on interest paid for a self-occupied property. Section 80C allows a deduction of up to Rs 1,50,000 per year on principal repayment. These benefits are not available under the new tax regime.