Home-loan EMI calculator
Enter the loan amount, tenure, and interest rate. We'll show your monthly EMI, total interest, and total payable.
Monthly EMI
₹65,562
Total interest
₹82,34,930
Total payable
₹1,57,34,930
How home-loan EMI works in India
EMI stands for Equated Monthly Instalment, a fixed amount you pay every month to your lender, comprising part principal and part interest. Indian home loans use the reducing-balance method: interest is calculated each month on the remaining principal, so the interest portion shrinks and the principal portion grows over the tenure.
The formula
EMI = [P × R × (1 + R)^N] / [(1 + R)^N - 1]
where P = principal, R = monthly interest rate (annual rate ÷ 12 ÷ 100), N = tenure in months.
What changes your EMI
- Interest rate, even a 25 bps change moves the EMI meaningfully over 20 years.
- Tenure, longer tenure lowers EMI but raises total interest paid significantly.
- Loan amount, the down payment you put up directly determines this.
Sanction vs disbursal
Banks sanction a loan based on your eligibility, they disburse only when you furnish the registered Sale Agreement. Your EMI doesn't start until disbursal.