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Home Loan EMICalculator
Work out your exact monthly EMI, total interest, and a full year-wise repayment schedule before you approach a lender.
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Rajput Lalit & Associates
GST • Income Tax • Accounting — Ambala City, Haryana
+91 93549 53603 • www.rajputlalitassociates.in
Home Loan EMI Calculator — Report
Your Monthly EMI
₹30,374
For a loan of ₹35,00,000 at 8.5% p.a. over 20 years, you will pay a total of ₹72,89,715 — of which ₹37,89,715 is interest.
Payment Breakdown
Year-wise Breakdown
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹69,658 | ₹2.95 L | ₹34.30 L |
| 2 | ₹75,815 | ₹2.89 L | ₹33.55 L |
| 3 | ₹82,517 | ₹2.82 L | ₹32.72 L |
| 4 | ₹89,810 | ₹2.75 L | ₹31.82 L |
| 5 | ₹97,749 | ₹2.67 L | ₹30.84 L |
| 6 | ₹1.06 L | ₹2.58 L | ₹29.78 L |
| 7 | ₹1.16 L | ₹2.49 L | ₹28.62 L |
| 8 | ₹1.26 L | ₹2.38 L | ₹27.36 L |
| 9 | ₹1.37 L | ₹2.27 L | ₹25.99 L |
| 10 | ₹1.49 L | ₹2.15 L | ₹24.50 L |
Showing first 10 years of 20.
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Disclaimer:This is an estimate for general guidance only, based on a standard reducing-balance EMI calculation. Actual EMI, processing fees, and eligibility depend on the lender's own assessment and current rates. This is not a loan approval or a guarantee of the rate shown.
Planning a home loan? Look beyond the EMI
A lower EMI feels comfortable today, but a longer tenure means you pay far more interest over the life of the loan. Use the year-wise breakdown above to see exactly how the balance between principal and interest shifts each year, and try a few different tenures before deciding.
Home loan interest also qualifies for tax deductions — principal repayment under Section 80C and interest under Section 24(b) of the Income-tax Act (subject to the regime you choose and applicable limits). If you're unsure which tax regime suits you better with a home loan in the picture, that's exactly the kind of question our income tax filing team can help with.
Running a business and considering a loan for it instead? Our Business Loan EMI Calculator and SIP Calculator are built the same way.
Need help with the paperwork side?
We help individuals and businesses across India with income tax filing, accounting and GST — the documents most lenders ask for. The first consultation is free.
Book a Free ConsultationFrequently Asked Questions
How is home loan EMI calculated?
EMI is calculated using the reducing-balance formula: 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 tenure in months. Every EMI has an interest portion and a principal portion — early EMIs are mostly interest, later ones are mostly principal.
What is a good home loan interest rate in 2026?
Home loan rates in India move with the RBI repo rate and vary by lender, loan amount and your credit score. Rather than quoting one number that goes stale, compare live offers from multiple banks/NBFCs before deciding — that's what the 'Compare Home Loan Offers' button on this page is for.
Does a longer tenure always mean I pay more interest?
Yes. A longer tenure lowers your monthly EMI but increases the total interest paid over the life of the loan, since interest keeps accruing on the outstanding balance for longer. Use the year-wise breakdown above to see exactly how much of each year's payment goes to interest versus principal.
Can I prepay my home loan to reduce interest?
Yes — for floating-rate home loans, RBI rules do not allow banks to charge prepayment/foreclosure penalties to individual borrowers. Prepaying reduces your outstanding principal, which reduces the interest charged on all future EMIs — even a small lump-sum prepayment early in the loan can save a meaningful amount.
Is this EMI figure exactly what the bank will offer me?
No — this is an estimate for planning purposes. Your actual EMI depends on the lender's final approved rate (which depends on your credit score, income and the specific scheme), processing fees, and whether the rate is fixed or floating. Always check the final loan sanction letter before signing.
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Ambala City, Haryana - 134003
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