Home Loan EMI Calculator

EMI uses the standard formula: P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan amount, r is the monthly rate (annual / 12 / 100), and n is the number of months. Each EMI splits into interest (high in early years) and principal (high in later years) — see the year-by-year amortization for the breakdown.

Most lenders cap EMI at 50%–60% of net monthly income. On ₹50,000 take-home, that is roughly ₹25,000–₹30,000 EMI capacity. At 9% over 25 years, that supports a loan of ₹30–₹35 lakh. Add your down payment for the property budget.

Most lenders cap home loan tenure at 30 years, subject to retirement age (usually loan must close by age 70). For salaried borrowers, 20–25 years is the sweet spot — longer tenures cut EMI but balloon total interest.

For floating-rate home loans, RBI prohibits prepayment penalties for individual borrowers. Fixed-rate loans typically charge 2%–3% on the prepaid amount. Always prepay early — a ₹1 lakh prepayment in year 2 of a 20-year loan saves around ₹2 lakh in interest.

Fixed rates stay constant (typically only for the first 1–5 years, then convert to floating); floating rates are linked to RBI repo or external benchmarks and reset every 3–6 months. Floating wins when rates trend down; fixed protects you in a rising-rate cycle but costs 50–100 bps more upfront.