Free Home Loan EMI Calculator
Home loans run for many years, so a small change in rate or tenure changes the total cost a lot. Enter your loan details to see your EMI and the total interest.
Note: Results are estimates for learning and planning. They are not financial, tax or investment advice, and actual figures from your bank or lender may differ. See our disclaimer.
How to use Home Loan EMI Calculator
- Enter the loan amount you need.
- Enter the interest rate your lender offers.
- Enter the tenure in years. Home loans often run 15 to 30 years.
- Optionally add the processing fee, then click Calculate EMI.
About this tool
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r the monthly rate and n the number of months. For example, a ₹50,00,000 loan at 8.5% for 20 years has an EMI of about ₹43,391 and total interest of about ₹54 lakh. Interest is a big share of the payment on a long loan, which is why a shorter tenure or part-prepayment saves so much. The tool assumes a fixed rate. Most home loans are floating, so your EMI or tenure can change when the rate changes. Fees, insurance and taxes are separate.
Frequently asked questions
How is home loan EMI calculated?
With the formula P × r × (1 + r)^n ÷ ((1 + r)^n − 1), using the monthly rate and number of months.
Does a longer tenure save money?
It lowers the EMI but increases the total interest.
Can I see the payment schedule?
The EMI Calculator shows the month-by-month schedule. Use it with the same numbers.
Can I reduce interest by prepaying?
Yes. Try the Loan Prepayment Calculator.
Is my data stored?
No. Everything runs in your browser.