Home Loan EMI Calculator
Enter the loan amount, the annual interest rate and the tenure. You get the monthly EMI, the total interest you will pay, and a schedule of how each instalment splits into interest and principal.
Monthly EMI
₹43,391
- Total interest
- ₹54,13,879
- Total payment
- ₹1,04,13,879
Saved results stay in this browser only. Clearing your browser data removes them.
Month-by-month schedule
| Month | Interest | Principal | Balance |
|---|---|---|---|
| 1 | ₹35,417 | ₹7,974 | ₹49,92,026 |
| 2 | ₹35,360 | ₹8,031 | ₹49,83,995 |
| 3 | ₹35,303 | ₹8,088 | ₹49,75,907 |
| 4 | ₹35,246 | ₹8,145 | ₹49,67,762 |
| 5 | ₹35,188 | ₹8,203 | ₹49,59,559 |
| 6 | ₹35,130 | ₹8,261 | ₹49,51,298 |
| 7 | ₹35,072 | ₹8,319 | ₹49,42,978 |
| 8 | ₹35,013 | ₹8,378 | ₹49,34,600 |
| 9 | ₹34,953 | ₹8,438 | ₹49,26,162 |
| 10 | ₹34,894 | ₹8,498 | ₹49,17,665 |
| 11 | ₹34,833 | ₹8,558 | ₹49,09,107 |
| 12 | ₹34,773 | ₹8,618 | ₹49,00,489 |
How a home loan EMI is worked out
An EMI is a fixed monthly payment. Early instalments are mostly interest, because the interest is charged on the full outstanding balance. Over time the balance falls, so more of each instalment repays principal.
A longer tenure lowers the EMI but raises the total interest. A shorter tenure does the opposite. Compare two tenures to see the trade-off for your budget.
Paying extra towards principal reduces the outstanding balance, so less interest is charged afterwards. Check your lender's terms for prepayment rules and charges.
The formula
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments.
Common questions
How is a home loan EMI calculated?
With the reducing-balance formula: EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1). P is the loan amount, r the monthly rate and n the number of months. The calculator does this for you and shows the schedule.
What is an amortization schedule?
A table of every instalment showing how much goes to interest, how much repays principal, and the balance left. It makes it clear why early years are interest-heavy.
Does a longer tenure save money?
It lowers the monthly EMI but increases the total interest paid. Enter two tenures and compare the total interest figure.
Does this include processing fees or insurance?
No. It covers principal and interest only. Ask your lender for fees, insurance and other charges.
Keep your loan papers and receipts together
SparkyLive lets you capture receipts, notes and photos on the go, so sanction letters, payment receipts and notes about your loan stay in one place.
Try SparkyLive (opens in a new tab)