Home Loan Calculator
Real EstateEMI, total interest and the full repayment schedule for a home loan.
Runs entirely in your browser — nothing is uploaded
Features
- EMI, total interest and total repayment.
- Amortisation schedule by year or by month.
- Shows what share of your repayment is interest.
- Results update as you type, with no button to press.
How to use the Home Loan Calculator
- 1Enter the loan amount, rate and tenure.
- 2Read the EMI and the total interest over the term.
- 3Open the schedule to see how slowly the balance falls at first.
Frequently asked questions
How is home loan EMI calculated?
EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the principal, r the monthly rate and n the number of months. The instalment stays fixed while its split between interest and principal shifts across the term.
Why does the balance barely move in the early years?
Because interest is charged on the outstanding balance, which is at its largest at the start. In year one of a twenty-year loan, roughly three-quarters of each EMI is interest. This is also why prepaying early saves so much more than prepaying late.
What tax benefits does a home loan give?
Under the old regime, up to ₹2 lakh a year of interest under section 24(b) on a self-occupied property, and the principal repayment within the ₹1.5 lakh 80C limit. The new regime allows neither for a self-occupied home, which is a significant factor in choosing a regime.
Should I take the longest tenure offered?
A longer tenure lowers the EMI but raises the total interest sharply. A common approach is to take the long tenure for the flexibility of a lower committed payment, then prepay regularly — you get the lower obligation and the shorter effective term.