Home Loan EMI Calculator
Calculate your home loan EMI, total interest, processing fee and the full cost of borrowing for a house or flat.
What is the Home Loan EMI Calculator?
A home loan EMI calculator shows the monthly instalment for a housing loan. Home loans are usually large and long (15–30 years), so small rate differences have a big impact on total interest.
How does it work?
Enter the loan amount (property price minus your down payment), the interest rate offered and the tenure. The calculator applies the reducing-balance EMI formula and adds the processing fee plus 18% GST to show the full cost.
Formula
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1)
Processing fee cost = P × fee% × 1.18 (GST)
Example
₹50 lakh at 8.5% for 20 years gives an EMI of ₹43,391. A 0.5% processing fee adds ₹25,000 + GST = ₹29,500 upfront.
Frequently asked questions
How much home loan can I get?
Banks typically fund 75–90% of the property value and cap your total EMIs at about 50–60% of net monthly income. Use the Loan Eligibility Calculator for an estimate.
Are home loan EMIs tax-deductible?
Under the old tax regime, principal repayment qualifies under Section 80C (up to ₹1.5 lakh) and interest on a self-occupied home under Section 24(b) (up to ₹2 lakh). The new regime does not allow these for self-occupied property.
Should I choose a shorter tenure?
A shorter tenure raises the EMI but saves a lot of interest. Many borrowers pick a comfortable tenure and make prepayments when possible.
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