Home Loan EMI Calculator
Calculate home-loan EMI, total interest and total repayment. See how paying 1, 2 or 3 extra EMIs every year can help you finish the loan sooner and save interest.
The amount borrowed for the home loan.
Annual interest rate charged on the home loan.
The number of years used to repay the home loan.
Extra EMI benefit
Choose how many additional EMIs you plan to pay each year. The calculator will show how much sooner the loan can finish and how much interest you could save.
Enter 0 if you do not plan to make extra EMI payments. Maximum 12 extra EMIs per year.
Extra EMI Loan Savings
Paying additional EMIs each year can reduce the outstanding principal faster. Enter the number of extra EMIs you plan to pay each year in the calculator above to see the estimated loan term reduction and interest savings.
| Extra EMIs / Year | Loan Finished In | Time Saved | Interest Saved |
|---|
Assumption: the extra EMI is equal to the calculated regular EMI and is paid once each year after the regular annual payments. Actual lender rules may differ.
Home Loan EMI Formula
This calculator estimates principal and interest for a standard amortizing home loan. Property taxes, insurance, fees, registration costs and other home-ownership expenses are not included.
How to Use the Home Loan EMI Calculator
Enter the Loan Amount
Enter the amount you plan to borrow for the home purchase.
Enter the Interest Rate
Enter the annual interest rate applicable to the home loan.
Enter the Loan Term
Enter the number of years over which the loan will be repaid.
Calculate Your Home Loan EMI
The calculator displays the estimated monthly payment, total interest and total repayment.
Example Home Loan EMI Calculation
5,000,000 loan at 8.5% for 20 years
Given:
- Loan Amount = 5,000,000
- Annual Interest Rate = 8.5%
- Loan Term = 20 years
Monthly rate:
8.5% ÷ 12 = 0.708333% per month
Total payments:
20 × 12 = 240 monthly payments
Result: Monthly Payment ≈ 43,391.21
Total Repayment ≈ 10,413,890.40.
Total Interest ≈ 5,413,890.40.
Understanding Your Home Loan EMI Results
Monthly Payment
The estimated regular payment toward the principal and interest on the home loan.
Total Interest
The estimated interest paid over the full loan term, excluding additional costs.
Total Repayment
The combined principal and interest paid across all scheduled monthly payments.
Important Consideration
Actual home-loan costs can include fees, taxes, insurance, prepayments, rate changes and other lender or property charges.
Key Home Loan EMI Terms
Principal
The original amount borrowed to finance the home purchase.
Interest Rate
The annual rate charged on the outstanding home-loan balance.
Loan Term
The period over which the home loan is scheduled to be repaid.
Monthly Payment
The regular principal-and-interest payment calculated for the selected term.
Total Interest
The total interest accumulated over all scheduled payments.
Amortization
The process of gradually repaying the loan through scheduled payments.
Frequently Asked Questions
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