Home Loan EMI Calculator
Calculate your monthly home loan EMI, total interest payable, and full amortization schedule. Rates from 8.25% p.a. Tenure up to 30 years.
₹
₹5,00,000₹5,00,00,000
%
7.0%14.0%
12 Mo360 Mo
Monthly EMI
₹43,391
Total Interest
₹54,13,879
Total Payment
₹1,04,13,879
Monthly EMI
₹43,391
Principal Amount
₹50,00,000 (48.0%)
Total Interest
₹54,13,879 (52.0%)
Amortization Schedule
| Year | Principal | Interest | Total Paid | Balance |
|---|---|---|---|---|
| Year 1 | ₹99,510 | ₹4,21,182 | ₹5,20,692 | ₹49,00,490 |
| Year 2 | ₹1,08,306 | ₹4,12,386 | ₹5,20,692 | ₹47,92,184 |
| Year 3 | ₹1,17,879 | ₹4,02,813 | ₹5,20,692 | ₹46,74,305 |
| Year 4 | ₹1,28,298 | ₹3,92,394 | ₹5,20,692 | ₹45,46,007 |
| Year 5 | ₹1,39,638 | ₹3,81,054 | ₹5,20,692 | ₹44,06,369 |
| Year 6 | ₹1,51,981 | ₹3,68,711 | ₹5,20,692 | ₹42,54,388 |
| Year 7 | ₹1,65,414 | ₹3,55,278 | ₹5,20,692 | ₹40,88,974 |
| Year 8 | ₹1,80,038 | ₹3,40,654 | ₹5,20,692 | ₹39,08,936 |
| Year 9 | ₹1,95,950 | ₹3,24,742 | ₹5,20,692 | ₹37,12,986 |
| Year 10 | ₹2,13,272 | ₹3,07,420 | ₹5,20,692 | ₹34,99,714 |
| Year 11 | ₹2,32,121 | ₹2,88,571 | ₹5,20,692 | ₹32,67,593 |
| Year 12 | ₹2,52,638 | ₹2,68,054 | ₹5,20,692 | ₹30,14,955 |
| Year 13 | ₹2,74,969 | ₹2,45,723 | ₹5,20,692 | ₹27,39,986 |
| Year 14 | ₹2,99,275 | ₹2,21,417 | ₹5,20,692 | ₹24,40,711 |
| Year 15 | ₹3,25,729 | ₹1,94,963 | ₹5,20,692 | ₹21,14,982 |
| Year 16 | ₹3,54,519 | ₹1,66,173 | ₹5,20,692 | ₹17,60,463 |
| Year 17 | ₹3,85,855 | ₹1,34,837 | ₹5,20,692 | ₹13,74,608 |
| Year 18 | ₹4,19,960 | ₹1,00,732 | ₹5,20,692 | ₹9,54,648 |
| Year 19 | ₹4,57,082 | ₹63,610 | ₹5,20,692 | ₹4,97,566 |
| Year 20 | ₹4,97,483 | ₹23,209 | ₹5,20,692 | ₹83 |
Home Loan at a Glance
Interest Rate
8.25% – 12%
per annum
Loan Amount
₹5L – ₹5Cr
varies by lender
Max Tenure
30 years
360 months
Processing Fee
0.25% – 1%
of loan amount
Home Loan EMI for Popular Amounts
| Loan Amount | 20 Years | 25 Years | 30 Years |
|---|---|---|---|
| ₹20 Lakh | ₹17,356 | ₹16,054 | ₹15,379 |
| ₹30 Lakh | ₹26,033 | ₹24,081 | ₹23,068 |
| ₹40 Lakh | ₹34,711 | ₹32,108 | ₹30,757 |
| ₹50 Lakh | ₹43,391 | ₹40,135 | ₹38,446 |
| ₹75 Lakh | ₹65,086 | ₹60,203 | ₹57,669 |
| ₹1 Crore | ₹86,782 | ₹80,270 | ₹76,891 |
EMI calculated at 8.5% p.a. on reducing balance basis. Actual rates may vary.
Home Loan Eligibility
✓
Age
21 – 65 years (at loan maturity)
✓
Min Income (Salaried)
₹25,000/month
✓
Min Income (Self-employed)
₹3 Lakh/year (ITR)
✓
CIBIL Score
700+ (750+ for best rates)
✓
Employment
Min 2 years experience, 6 months in current job
✓
Property
Must be in an approved project/area
Home Loan EMI — Frequently Asked Questions
What is a home loan EMI?
Home loan EMI is the fixed monthly instalment you pay to repay your housing loan. It includes both principal repayment and interest. EMI remains constant throughout the tenure unless you switch from fixed to floating rate or make prepayments.
What is the current home loan interest rate in India?
Home loan interest rates in India currently range from 8.25% to 12% per annum depending on the lender, loan amount, and your credit profile. SBI, HDFC, ICICI, and other major banks offer rates starting from 8.25%-8.50% for salaried borrowers with strong CIBIL scores (750+).
How much home loan can I get on a ₹50,000 salary?
On a ₹50,000 monthly salary, you can typically get a home loan of ₹25-35 lakh, depending on your existing EMI obligations, CIBIL score, and the lender. Banks generally allow EMI up to 50-60% of your net monthly income (FOIR ratio).
Should I choose a 20-year or 30-year home loan tenure?
A 20-year tenure means higher EMI but significantly less total interest. For a ₹50 lakh loan at 8.5%, the 20-year EMI is ₹43,391 (total interest: ₹54.1L), while 30-year EMI is ₹38,446 (total interest: ₹88.4L). You save ₹34.3 lakh by choosing 20 years. Pick 30 years only if monthly affordability is tight.
What is the difference between fixed and floating rate home loans?
Fixed rate home loans keep the interest rate constant for the entire tenure, giving predictable EMIs. Floating rate loans are linked to the RBI repo rate (via EBLR/MCLR) and can change every quarter. Most Indian banks now offer only floating rate home loans, which are generally 0.5-1% cheaper than fixed rate loans.
Can I prepay my home loan without penalty?
Yes. As per RBI guidelines, banks cannot charge prepayment penalties on floating rate home loans. For fixed rate loans, a penalty of up to 2-3% may apply. Prepaying even small amounts early in the tenure can save lakhs in interest — the first 5 years of a home loan are the most interest-heavy.
What documents are needed for a home loan?
Key documents include: identity proof (Aadhaar/PAN), address proof, income proof (salary slips for 6 months, Form 16, ITR for 2-3 years), bank statements (6-12 months), property documents (sale agreement, title deed, NOC from builder, approved plan), and passport-size photographs.
What is PMAY and how does it reduce my home loan EMI?
Pradhan Mantri Awas Yojana (PMAY) provides an interest subsidy of up to ₹2.67 lakh on home loans for eligible buyers (EWS/LIG/MIG categories). This reduces your effective loan amount and hence your EMI. Check eligibility based on your household income and whether you are a first-time home buyer.
Looking for the best home loan rates?
GoCredit's AI compares offers from 55+ lenders to find you the lowest rate.
Compare Home Loan Offers →