Home Loan Calculator
Calculate your Home Loan EMI, interest breakdown, and see the impact of yearly prepayments.
Extra payment made once a year
| Year | Principal Paid | Interest Paid | Balance |
|---|---|---|---|
| 1 | ₹99,511 | ₹4,21,182 | ₹49,00,489 |
| 2 | ₹1,08,307 | ₹4,12,387 | ₹47,92,181 |
| 3 | ₹1,17,881 | ₹4,02,813 | ₹46,74,300 |
| 4 | ₹1,28,300 | ₹3,92,394 | ₹45,46,000 |
| 5 | ₹1,39,641 | ₹3,81,053 | ₹44,06,359 |
| 6 | ₹1,51,984 | ₹3,68,710 | ₹42,54,375 |
| 7 | ₹1,65,418 | ₹3,55,276 | ₹40,88,957 |
| 8 | ₹1,80,039 | ₹3,40,655 | ₹39,08,918 |
| 9 | ₹1,95,953 | ₹3,24,741 | ₹37,12,965 |
| 10 | ₹2,13,274 | ₹3,07,420 | ₹34,99,691 |
| 11 | ₹2,32,125 | ₹2,88,569 | ₹32,67,566 |
| 12 | ₹2,52,643 | ₹2,68,051 | ₹30,14,923 |
| 13 | ₹2,74,974 | ₹2,45,720 | ₹27,39,949 |
| 14 | ₹2,99,279 | ₹2,21,415 | ₹24,40,670 |
| 15 | ₹3,25,733 | ₹1,94,961 | ₹21,14,937 |
| 16 | ₹3,54,525 | ₹1,66,169 | ₹17,60,412 |
| 17 | ₹3,85,862 | ₹1,34,832 | ₹13,74,550 |
| 18 | ₹4,19,968 | ₹1,00,726 | ₹9,54,582 |
| 19 | ₹4,57,090 | ₹63,604 | ₹4,97,492 |
| 20 | ₹4,97,492 | ₹23,202 | ₹0 |
Monthly EMI
₹43,391
Principal Amount
₹50,00,000
Total Interest
₹54,13,879
Total Payment
₹1,04,13,879
How the Home Loan Calculator works
This calculator computes your home loan EMI, total interest, and repayment schedule from the loan amount, interest rate and tenure. Home loans are large and long, so small rate differences and prepayments make a big difference to total interest.
Home loans also offer tax benefits: principal repayment qualifies under Section 80C and interest under Section 24(b), subject to limits.
EMI formula
EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1)
P = principal, r = monthly rate, n = months.
Frequently asked questions
How can I reduce total home-loan interest?+
Make prepayments (especially early), choose a shorter tenure if affordable, or refinance to a lower rate. Even one extra EMI a year cuts years off the loan.
What tax benefits does a home loan give?+
Principal repayment qualifies under 80C (up to ₹1.5 lakh) and interest under Section 24(b) (up to ₹2 lakh for a self-occupied home), subject to conditions.
Fixed or floating interest rate?+
Floating rates move with the market and are usually lower initially; fixed rates give payment certainty. Most home loans in India are floating.
Does prepayment reduce EMI or tenure?+
Usually the tenure (keeping EMI the same), which saves the most interest. Ask your lender if you prefer to lower the EMI instead.