Home Loan EMI Calculator

See the monthly instalment on a housing loan, and how much of the total you hand over is interest rather than principal.

Monthly EMI

₹43,391.16

Total interest₹54,13,878.80
Total amount payable₹1,04,13,878.80

Works out in your browser. Nothing you type is sent anywhere.

In short: Home Loan EMI Calculator

A ₹50,00,000 home loan at 8.5% a year over 240 months has an EMI of ₹43,391.16. You repay ₹1,04,13,878.80 in all, so ₹54,13,878.80 of it is interest. On a loan this long the interest can come close to the amount borrowed, which is why the tenure matters as much as the rate.

What is Home Loan EMI?

A home loan EMI is the fixed monthly payment that clears a housing loan and its interest over an agreed number of years.

How is Home Loan EMI calculated?

EMI = \frac{P \times i \times {(1 + i)}^{n}}{{(1 + i)}^{n} - 1}

Take the loan amount, multiply it by the monthly rate, and multiply that by one plus the monthly rate raised to the number of instalments. Divide the result by that same power minus one. The monthly rate is the yearly rate divided by twelve, then by a hundred.

EMIthe equal amount you pay every month
Pthe sanctioned loan amount
ithe interest rate for one month, as a decimal
nthe number of monthly instalments in the tenure

A worked example

Inputs and results for the worked example
Result
Home loan amount	₹50,00,000
Interest rate (% a year)	8.5%
Tenure (months)	240 months
Monthly EMI	₹43,391.16
Total interest	₹54,13,878.80
Total amount payable	₹1,04,13,878.80

Every figure in this table is produced by the same calculation the tool above runs.

How to use this home loan EMI calculator

Enter the loan amount the bank has sanctioned, not the price of the property.
Enter the rate the sanction letter quotes, as a yearly percentage.
Set the tenure in months. Twenty years is two hundred and forty.
Read the EMI, then look at the total interest before you sign anything.

Questions people ask

How is a home loan EMI calculated?

The bank spreads the loan and the interest across the tenure so every monthly payment is the same size. In the early years almost all of each instalment is interest, because the outstanding balance is still large. The share going to principal grows every month until the loan closes.

Why is the total interest so close to the loan amount?

Interest accrues on whatever is still outstanding, and on a twenty-year loan a large balance stays outstanding for a long time. At typical housing rates the interest over the full term often approaches the amount borrowed. Shortening the tenure cuts it sharply, even though the EMI rises.

Does the EMI change when the repo rate changes?

On a floating-rate loan most lenders keep the EMI where it is and lengthen or shorten the tenure instead. You can ask them to hold the tenure and change the EMI, which keeps the closing date fixed. Enter the new rate here to see what each choice does.

Should I choose a longer tenure for a smaller EMI?

A longer tenure makes the monthly payment easier and the loan more expensive, and the two move in opposite directions. Compare the total interest line, not only the EMI. A tenure you can clear comfortably while still saving is usually better than the longest one on offer.

Does this page send my loan details to anyone?

No. The calculation happens inside your browser, so the amounts you type stay on your device. There is no sign-up and nothing is stored on a server.

Accuracy and sources

Estimate only. Not financial or tax advice.

Checked by the Daytoolz team on 16 October 2026. How we check our tools.

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