Loan and EMI Calculator

Buying a home is emotional; financing it is mathematical. Our Loan & EMI Calculator lets you preview the maths before signing on the dotted line. Enter your loan amount, interest rate, and tenure to see:

Monthly EMI

the bite out of your salary each month

Total Interest Payable

what the bank earns from you

Total Payout

principal + interest over the loan’s life

Loan Term Visual

how long you’ll be in repayment mode

Use the numbers to fine tune your budget, negotiate better terms, or decide whether to pre pay and save interest.

How to Calibrate Your Loan (DOs)

Guideline

Why It Matters

Keep EMI ≤35% of net monthly incomeLeaves room for lifestyle costs, emergencies, and new goals.
Choose the shortest tenure you can comfortably affordChoose the shortest tenure you can comfortably afford Every extra year balloons total interest. A 20 year loan can cost 60–80 % more interest than a 12 year loan.
Opt for fixed plus floating or pure floating only if you’re ready for rate swingsFloating rates usually fall faster than they rise, but you must have buffer cash for upward cycles.
Schedule an annual 5–10 % principal pre paymentEven modest pre payments in early years knock years off the schedule and slash interest outgo.
Build a 3 to 6 month EMI emergency fundBuild a 3 to 6 month EMI emergency fund Protects your credit score (and peace of mind) during job changes or medical surprises.

How Not to Calibrate Your Loan (DON’Ts)

  1. Don’t chase the absolute maximum eligibility that banks dangle; “stretching” today can feel suffocating tomorrow
  2. Don’t be seduced by teaser rates that jump sharply after 12–24 months—run the calculator with post teaser rates.
  3. Don’t ignore ancillary costs (registration, GST on under construction property, maintenance deposits). They’re paid upfront, not financed.
  4. Don’t extend tenure only for a lower EMI while planning “I’ll pre pay later.” If discipline slips, you’ll bleed interest for decades.
  5. Don’t pick a lender solely on EMI; compare processing fees, foreclosure charges, rate reset frequency, and customer service ratings.

Interpreting Your Results

  • Increase your down payment to reduce the loan amount and lower your monthly payments.

  • Opt for a slightly longer tenure, but only if you're disciplined about future prepayments.

  • Review all existing EMIs. Consolidate or close small debts to free up cash.

  • Consider joint loans to boost eligibility and ease the burden.

  • Delay purchase if needed. Financial comfort beats rushed ownership.

  • Choose a shorter tenure. It significantly reduces interest paid over time.

  • Plan for aggressive prepayments, especially in the first 5 years.

  • Increase your EMI slightly if your budget allows. It cuts interest fast.

  • Avoid loans with teaser rates that spike later.

  • Use the shock as a trigger to negotiate better terms or reconsider the loan amount.

  • Still perform a stress test by adding 1–1.5% to the interest rate. Future hikes are real.

  • Don’t stretch to your max. Leave room for emergencies and future goals.

  • Consider shortening the tenure to save on interest while it’s affordable.

  • Use your position to negotiate better terms with lenders.

  • Plan prepayments early to close the loan more quickly and affordably.

Next Steps

  1. Tweak inputs until you hit a “sweet spot” EMI.
  2. Download/print the amortisation schedule as a negotiation tool with lenders.
  3. Speak with a loan advisor to confirm eligibility and best products.
Disclaimer:

Figures are estimates for planning only. Actual loan offers depend on lender policies, your credit profile, and prevailing market rates. Always review final sanction letters carefully before commitment.

Calculate here

Home Loan FAQs

An online tool that lets you plug in loan amount, interest rate, and tenure to generate your monthly EMI, total interest payable, and total repayment. It helps you compare scenarios instantly and plan affordability before approaching lenders.

EMI—Equated Monthly Instalment—is the fixed amount you repay every month. Each payment has two parts: principal reduction and interest charged on the outstanding balance. As the loan ages, the interest portion shrinks and the principal portion grows.

EMI is derived from the amortisation formula  P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ – 1], where P is loan principal, r is monthly interest rate, and n is total months. Most calculators compute this instantly and also display the year wise principal interest split.

Loan amount, interest rate, and tenure are the three direct levers. Credit score, income profile, property type, lender risk policies, and whether the rate is fixed or floating indirectly influence EMI by altering the rate offered or the maximum tenure allowed.

At 8.50 % interest for 20 years, the EMI is roughly ₹17,400. Change any variable—say opt for 15 years or negotiate 7.50 %—and the EMI falls to about ₹18,600 or ₹16,600 respectively. Always run exact numbers in the calculator.

Banks usually cap total EMIs at 40 – 50 % of net income. Assuming 45 %, your permissible EMI is ~₹11,250. At 9 % for 20 years, that supports a loan of roughly ₹11 – 12 lakh. Actual eligibility also depends on credit score and liabilities.

For a small ₹5 lakh loan at 9 % over 5 years, the EMI is about ₹10,400. Stretching tenure to 10 years drops EMI to around ₹6,300 but increases total interest. Use the calculator to fine tune your own rate tenure mix.

There’s no uniform number. Many lenders accept net monthly incomes from ₹15,000 upward in tier 2 cities and ₹25,000 in metros. The key is that post EMI disposable income must meet their internal living expense threshold and you must clear credit checks.

At 8.50 % for 20 years, you’ll pay about ₹21 lakh in interest—slightly more than the principal. Cut the tenure to 15 years and interest drops to roughly ₹14 lakh. Even small rate concessions or pre payments dramatically lower this figure.

Using 8 % annual interest and 20 year tenure, EMI is about ₹33,400. Halving the tenure to 10 years raises EMI to ~₹48,500 but saves ~₹14 lakh in interest. Always model scenarios to balance cash flow comfort against lifetime cost.

Indian regulators cap Loan to Value at 90 % for loans under ₹30 lakh, 80 % up to ₹75 lakh, and 75 % above that. So a true 100 % mortgage is not permitted; you must fund the margin plus registration and taxes.

There’s no absolute ceiling. Eligibility hinges on income, existing liabilities, property’s value, and lender policy. High income applicants with strong credit can secure crores, sometimes via blended loans with co applicants. The LTV cap still limits funding to 75–90 % of property price.

Most banks offer up to 30 years, subject to the borrower not exceeding 60–70 years of age at loan maturity. Longer tenure lowers EMI but significantly raises total interest; many borrowers aim to pre pay and finish early.

Processing fees typically range from 0.25 %–1 % of the sanctioned amount, plus GST, with minimum and maximum slabs (e.g., ₹10,000 to ₹25,000). Some lenders run zero processing fee promotions, but always watch for other bundled charges.

Loan to Value is the percentage of the property price that the bank finances. An LTV of 80 % on a ₹50 lakh home means the lender funds ₹40 lakh and you provide ₹10 lakh plus taxes and fees.

A three digit number (300–900) summarising your repayment behaviour. Scores above 750 typically unlock faster approvals, lower interest rates, and higher eligibility. Bureaus like CIBIL, Experian, Equifax, and CRIF High Mark compute it from loan and credit card histories.

Late or missed payments, high credit card utilisation, frequent loan enquiries, short credit history, and having many unsecured loans pull scores down. Timely repayments, low utilisation (<30 %), diverse credit mix, and minimal hard enquiries push scores up.

For floating rate residential loans, RBI mandates zero foreclosure or part prepayment penalty. Fixed rate loans may carry 2–3 % charges unless paid from personal funds. Always verify your lender’s clause before signing.

A lending rate that resets directly to RBI’s repo rate plus a fixed spread. When the central bank cuts repo, your rate—and hence EMI—falls almost immediately, making pricing more transparent than older MCLR based loans.

Fixed offers EMI certainty but starts higher and locks you in if rates fall. Floating is cheaper upfront and benefits from rate cuts, yet EMIs can rise during tightening cycles. Choose fixed for budgeting stability; choose floating for potential savings with rate change tolerance.