Free Tool
Home Loan EMI Calculator
Find out exactly what your monthly EMI will be. Adjust loan amount, rate, and tenure to plan your finances before you apply.
Instant results No login required Rates from 8.5% p.a.
EMI Calculator
₹50.00 L
₹5L₹5 Cr
8.5%
7%15%
20 years
1 yr30 yrs
Monthly EMI
₹43,391/mo
Principal
₹50.00 L
Total Interest
₹54.14 L
Total Payment
₹1.04 Cr
*Indicative only. Actual rate and EMI may vary.
Tips to Reduce Your Home Loan Cost
Higher down payment = lower EMI
Pay 20–30% upfront to reduce your loan amount and total interest significantly.
Longer tenure lowers EMI, raises interest
A 30-year loan has a lower EMI than a 15-year loan, but you pay roughly 2× the interest total.
0.5% rate difference = big savings
On a ₹50L loan over 20 years, a 0.5% rate reduction saves approximately ₹3.5 Lakhs in interest.
Compare before you commit
Rates vary by up to 1% between lenders for the same profile. Always compare across 3+ lenders.
Home Loan EMI — Common Questions
How is home loan EMI calculated?+
EMI = [P × R × (1+R)^N] / [(1+R)^N – 1], where P is the principal loan amount, R is the monthly interest rate (annual rate / 12 / 100), and N is the number of monthly instalments. Our calculator does this instantly for you.
What is a good EMI-to-income ratio for a home loan?+
Most lenders recommend that your total EMI obligations (including the home loan) should not exceed 40–50% of your monthly take-home income. If your gross monthly salary is ₹1 Lakh, aim for a home loan EMI under ₹40,000–₹50,000.
Does prepayment reduce my EMI or tenure?+
When you make a part-prepayment, you can either reduce your EMI (keeping the same tenure) or reduce the tenure (keeping the same EMI). Reducing the tenure saves more total interest. For floating-rate home loans, there is no prepayment penalty as per RBI guidelines.
Current home loan interest rates in India?+
Home loan rates in India currently start from 8.5% p.a. for salaried borrowers with a CIBIL score above 750. Self-employed borrowers typically start from 8.9% p.a. Rates vary by lender, loan amount, tenure, and borrower profile. Use Taksh Fin to compare rates across 50+ lenders.