Free home-finance planning tool
Home loan EMI calculator
Test one home loan scenario using the amount, annual interest rate and tenure you enter. The result is a planning estimate, not a lender quote or approval.
Illustrative tenure comparison
A lower EMI can mean more total interest
These examples keep the loan at ₹40 lakh and the annual rate at 8.5%. They illustrate the effect of tenure only and are not lender quotes.
How to use the calculator
Test one loan scenario at a time
- 01Enter the required loan amount
Use the amount you expect to borrow, not the full property price unless they are the same.
- 02Use the quoted annual rate
Enter the annual interest rate from the lender scenario you want to test.
- 03Choose the repayment tenure
Enter the number of years over which the loan would be repaid.
- 04Compare monthly and total cost
Review the EMI together with total interest and total repayment before comparing another scenario.
Calculation method
How the EMI is calculated
The calculator uses the standard reducing-balance EMI formula and rounds the displayed rupee amounts.
Show the formula and assumptions
- Monthly rate, r = annual interest rate ÷ 12 ÷ 100
- Number of payments, n = tenure in years × 12
- EMI = P × r × (1 + r)^n ÷ ((1 + r)^n - 1)
- At 0% interest, monthly payment = principal ÷ number of months
- Total interest = total repayment - principal
Common questions
Home loan EMI calculator FAQs
Clear answers about EMI inputs, tenure, interest and what this estimate does not include.
What is a home-loan EMI?
EMI means equated monthly instalment. This calculator estimates one level monthly payment from the loan amount, annual interest rate and tenure you enter.
Which interest rate should I enter?
Enter the annual rate quoted for the loan you are comparing. Do not treat the illustrative 8.5% example on this page as a current lender rate or an offer.
Does a longer tenure reduce the EMI?
For the same loan amount and interest rate, a longer tenure usually lowers the monthly payment but increases the total interest paid. Compare both figures before deciding.
Does this calculator support a zero-interest loan?
Yes. At 0% annual interest, it divides the principal equally across the repayment months.
Does the result include processing fees and insurance?
No. The result includes only principal and interest under the displayed formula. Lender fees, insurance, legal review, valuation, taxes and transaction costs are separate.
Is this EMI result a loan approval or lender quote?
No. It is a mathematical planning estimate from your inputs. A lender decides eligibility, sanctioned amount, applicable rate, tenure, conditions and the actual repayment schedule.
After the calculation