Home Loan EMI Calculator
Home Loan EMI Calculator
Calculate your home loan EMI and see how prepayments shrink your tenure and interest. Enter the loan amount, interest rate and tenure — optionally add a yearly prepayment to see your savings.
Reducing-balance method. Prepayments are applied yearly against principal in this illustration.
How to use the home loan EMI calculator
- Enter the loan amount, interest rate and tenure.
- Optionally add a yearly prepayment (e.g. from bonuses) to see tenure and interest savings.
- Click Calculate.
Why prepayments matter
Home loan interest is front-loaded — early EMIs are mostly interest. Even a modest yearly prepayment in the first 5–7 years can cut lakhs in interest and shave years off your tenure, because every extra rupee directly reduces principal.
Tips before taking a home loan
- Compare processing fees and prepayment charges, not just the headline rate.
- Keep your EMI under 30–40% of monthly income for comfort.
- A higher down payment reduces both EMI and total interest.
Frequently asked questions
Is there a prepayment penalty? Floating-rate home loans for individuals carry no prepayment penalty in India.
Should I prepay or invest? If your loan rate exceeds your expected post-tax investment return, prepaying usually wins.
What is the maximum tenure? Most banks offer up to 30 years, subject to your retirement age.