Home Loan EMI Calculator

Calculate your home loan EMI and total interest payable.

Calculation Method

Interest calculated on outstanding balance (most common)

Loan Amount

₹

Principal loan amount.

Interest

Annual interest rate.

Tenure

Loan duration.

Tax Benefits

Claim up to ₹2L deduction on interest (Sec 24b) and ₹1.5L on principal (Sec 80C).

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Monthly EMI

₹ 0

For 20 years at 8.5% interest

Principal

Loan Amount

50 L

Interest

Total Interest

0

Total

Total Payment

0 Interest vs Principal

Loan Balance

Documentation

EMI Formula

The EMI (Equated Monthly Installment) is calculated using the reducing balance method, which ensures fair interest computation on the outstanding principal.

Home Loan Benefits

"Interest paid on home loans is deductible under Section 24(b), up to ₹2 lakh per year for self-occupied property."

The Formula

EMI = P × r × (1 + r)ⁿ(1 + r)ⁿ - 1

₹ 0/month × 240 months = ₹ 0

P = Principal, r = Monthly interest rate, n = Total months.

Last Updated: January 2026

Disclaimer: This calculator provides estimates for educational purposes. Actual EMI may vary based on bank policies, processing fees, and other charges.

Frequently Asked Questions