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Home Loan EMI Calculator
Your EMI is the fixed monthly payment that clears your home loan over its tenure. It is calculated on a reducing balance — early EMIs are mostly interest, later ones mostly principal. Enter your loan amount, rate and tenure below to see your EMI, total interest, and how much a prepayment would save.
Your loan
See year-by-year breakdown
| Year | Principal paid | Interest paid | Balance |
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How the EMI is calculated
Indian home loans use the reducing-balance (amortising) method. Each month the bank charges interest on whatever principal is still outstanding, and the rest of your EMI chips away at that principal. The fixed EMI comes from this formula:
EMI = P × r × (1+r)ⁿ ⁄ ((1+r)ⁿ − 1) where P = loan amount, r = monthly rate (annual rate ÷ 12 ÷ 100), n = tenure in months.
Because interest is front-loaded, prepaying early has the biggest impact — every extra rupee on the principal removes all the future interest that rupee would have attracted. That's why the prepayment field above can wipe years off a loan.
Tips that actually move the number
Shaving even 0.25% off your rate, or adding a small fixed prepayment each month, usually saves more than haggling over the loan amount. Before you fix a tenure, check what you can really afford with the affordability calculator, and if you're still weighing the whole decision, run the rent vs buy comparison.