For a ₹50 lakh home loan at 9% interest for 20 years, the EMI is approximately ₹44,986 per month. At 8.5% for the same tenure it drops to ₹43,391. Enter your exact amount, rate, and tenure above for a precise calculation.

EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is loan principal, r is monthly interest rate (annual rate ÷ 12 ÷ 100), and n is tenure in months. This is the standard formula used by SBI, HDFC, ICICI, and all Indian banks.

As of May 2026, Bank of Baroda and Punjab National Bank offer home loans starting at 8.40% p.a., while SBI, HDFC, and Kotak start around 8.50–8.75%. Rates vary based on credit score, income, and loan amount. Check the Bank Rates tab above for a live comparison of 34 lenders.

Prepayments directly reduce outstanding principal. Lower principal means less interest accrues each month, so the loan closes earlier or the EMI falls. Use the Prepayment Strategy tab to model monthly, quarterly, half-yearly, annual, one-time, or lump-sum payments. Even ₹5,000/month extra on a 20-year loan can save 2–3 years and several lakhs in interest.

FOIR (Fixed Obligation to Income Ratio) is the share of monthly income going toward all EMIs. Indian banks cap this at 40–50%. If your net income is ₹1 lakh and existing EMIs total ₹20,000, your EMI capacity is ₹30,000 — supporting roughly ₹28–30 lakh at 9% for 20 years. Use the Affordability tab for an exact figure.

Estimated Total Cost includes: upfront costs (down payment + fees + other expenses), financed principal, total interest over the loan life, and homeowner costs (property tax, home insurance, maintenance). Prepayments are principal repayments — they are not double-counted as an extra cost.

Enter home value, down payment, interest rate, tenure, and loan start date. The calculator instantly updates EMI, total interest, a cost breakdown chart, and a full month-by-month amortization schedule. Switch loan types (Home / Car / Personal / Bike) using the selector at the top of the form.

The loan start date sets the calendar month of your first EMI. It controls the months shown in the amortization schedule, the payoff month label, the yearly roadmap, and the CSV export. Leave it as the current month if you are planning a new loan.

Caps prevent invalid values from breaking the schedule. Home value and loan amount: ₹10 crore. Interest rate: 24%. Tenure: 30 years / 360 months. Bike loan tenure is soft-capped at 7 years as most lenders do not offer longer tenures for two-wheelers.

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