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Home Loan EMI Calculator

Calculate your monthly home loan EMI, total interest payable, and total cost of the loan.

Loan Amount (₹)

Interest Rate (% per annum)

Tenure (years)

Monthly EMI

₹43,391

Total Interest

₹54,13,840

Total Payable

₹1,04,13,840

Principal: 48.0%Interest: 52.0%

How Home Loan EMI is Calculated

The EMI is calculated using the standard reducing balance formula:

EMI = [P × R × (1+R)^N] / [(1+R)^N – 1]

P = Principal, R = Monthly rate, N = Total months

Tips

Home loan interest rates in India typically range from 8% to 10%
Maximum tenure is usually 30 years
Tax deduction under Section 80C (principal) and Section 24(b) (interest) available
Prepayment can significantly reduce total interest cost