Home loan EMI calculator
Move the sliders to see your monthly EMI, the total interest you'll pay, and whether the EMI fits the ~50% of income that most banks allow.
₹35 L
20% · ₹7 L
8.50%
20 yrs
₹60,000
Your monthly EMI
₹24,299
on a loan of ₹28 L
Principal₹28,00,000
Total interest₹30,31,772
Total payable₹58,31,772
■ Principal 48%■ Interest 52%
✅ This EMI is within ~50% of your income (up to ₹30,000), a common bank limit.
Year-by-year repayment schedule
| Year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| 1 | ₹55,726 | ₹2,35,862 | ₹27,44,274 |
| 2 | ₹60,652 | ₹2,30,936 | ₹26,83,621 |
| 3 | ₹66,013 | ₹2,25,575 | ₹26,17,608 |
| 4 | ₹71,848 | ₹2,19,740 | ₹25,45,760 |
| 5 | ₹78,199 | ₹2,13,390 | ₹24,67,561 |
| 6 | ₹85,111 | ₹2,06,478 | ₹23,82,450 |
| 7 | ₹92,634 | ₹1,98,955 | ₹22,89,816 |
| 8 | ₹1,00,822 | ₹1,90,767 | ₹21,88,994 |
| 9 | ₹1,09,734 | ₹1,81,855 | ₹20,79,260 |
| 10 | ₹1,19,433 | ₹1,72,155 | ₹19,59,827 |
| 11 | ₹1,29,990 | ₹1,61,599 | ₹18,29,837 |
| 12 | ₹1,41,480 | ₹1,50,109 | ₹16,88,357 |
| 13 | ₹1,53,986 | ₹1,37,603 | ₹15,34,371 |
| 14 | ₹1,67,596 | ₹1,23,992 | ₹13,66,775 |
| 15 | ₹1,82,410 | ₹1,09,178 | ₹11,84,364 |
| 16 | ₹1,98,534 | ₹93,055 | ₹9,85,831 |
| 17 | ₹2,16,082 | ₹75,506 | ₹7,69,748 |
| 18 | ₹2,35,182 | ₹56,406 | ₹5,34,566 |
| 19 | ₹2,55,970 | ₹35,618 | ₹2,78,596 |
| 20 | ₹2,78,596 | ₹12,993 | ₹0 |
How EMI is calculated
EMI = P × r × (1+r)n ÷ ((1+r)n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments. Early EMIs are mostly interest. That's why prepaying in the first few years saves the most.
Ways to reduce your EMI burden
- Make a larger down payment. Your lottery EMD already counts toward it.
- Compare rates across banks and housing finance companies. Even 0.5% matters over 20 years.
- Check the PMAY-Urban 2.0 interest subsidy if your household income is up to ₹9 lakh.
- Add a co-applicant with income to improve loan eligibility.