Free Calculator
EMI Calculator
Calculate your Equated Monthly Installment with detailed breakdown and payment schedule.
Loan Details
Not sure of your exact rate or tenure? Enter rough figures — the EMI updates instantly and you can fine-tune once your bank confirms the offer.
Monthly EMI
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Principal Amount
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Total Interest
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Total Amount
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How it works
How this calculator works
The EMI on a ₹50 lakh home loan at 8.5% for 20 years is about ₹43,400 a month — roughly ₹868 per ₹10 lakh borrowed — with about ₹54 lakh of total interest over the loan.
- 1
Enter loan amount
Type the principal home loan amount you want to borrow — from ₹1 lakh to ₹10 crore.
- 2
Set the annual interest rate
Enter the interest rate your bank has quoted. Home loan rates in India typically range from 8.5% to 10% in 2026.
- 3
Choose the loan tenure
Select your repayment period in years. Home loans in India range from 5 to 30 years.
- 4
View your EMI and amortization schedule
The calculator instantly displays your monthly EMI, total interest payable and a complete month-by-month repayment table.
Fair questions
Frequently asked questions
EMI (Equated Monthly Instalment) is the fixed amount you pay every month to repay your home loan. It is calculated using the formula: EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the total number of months.
Three factors determine your EMI: (1) Loan amount — a higher principal means a higher EMI. (2) Interest rate — even a 0.5% difference on a ₹50 lakh loan changes the EMI by approximately ₹1,700. (3) Tenure — a longer tenure reduces the EMI but significantly increases the total interest paid over the life of the loan.
You can lower your EMI by: (1) Refinancing to a lender offering a lower interest rate — a 1% rate cut on ₹50 lakh saves ₹3,000+ per month. (2) Extending the loan tenure, though this increases total interest. (3) Making part-prepayments to reduce outstanding principal. (4) Improving your CIBIL score above 750 to negotiate a better rate.
Banks in India apply a Fixed Obligation to Income Ratio (FOIR) of 40–50%. Your total monthly EMIs — including the new home loan — should ideally stay below 40–50% of your net monthly take-home salary for the bank to approve the loan comfortably.
Yes. A larger down payment reduces the loan principal, which directly lowers your monthly EMI and the total interest you pay over the loan tenure. For example, increasing your down payment from 10% to 20% on a ₹80 lakh property reduces your loan by ₹8 lakh, saving approximately ₹700 per month in EMI at 9% for 20 years.
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Reviewed by Ekatra's home-loan experts · Calculations are indicative; consult a financial advisor for personalised advice.
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