Can I reduce my EMI by increasing the loan tenure?

Yes, the longer the tenure, the lower the EMI.

Can I reduce my EMI through part prepayment?

Yes, when you part prepay the loan, the paid amount is deducted from the outstanding loan amount. Thus, your EMI reduces provided the tenure remians the same.

Can I prepay my home loan without penalty?

If you have availed your home loan at floating interest rates, there will be no penalty on home loan prepayment.

What is the difference between fixed and floating home loan interest rates?

Floating interest rates change with the change in the repo rate, whereas fixed interest rates remain constant throughout the loan tenure.

How does the RBI repo rate affect home loan EMI?

As the RBI repo rate changes, so does the interest rate. An increase in the RBI repo rate increases the interest rate, and thus the EMI also increases.

What are the benefits of using a Home Loan EMI Calculator?

A home loan EMI calculator allows applicants to check the EMI and total interest cost through the loan tenure. It also helps individuals to check their loan affordability even before a loan application.

Can I calculate EMI for different loan amounts and tenures?

Yes, you can calculate the EMI for different loan amounts and tenures.

How much EMI will I pay for a Rs. 10 lakh home loan availed for 20 years @ 7.10% p.a.?

The EMI you will pay for a Rs. 10 lakh home loan availed for 20 years @ 7.10% p.a. would be Rs. 7,813

How much EMI will I pay for a Rs. 25 lakh home loan availed for 20 years @ 7.10% p.a.?

The EMI you will pay for a Rs. 25 lakh home loan availed for 20 years @ 7.10% p.a. would be Rs. 19,533

How much EMI will I pay for a Rs. 50 lakh home loan availed for 20 years @ 7.10% p.a.?

The EMI you will pay for a Rs. 50 lakh home loan availed for 20 years @ 7.10% p.a. would be Rs. 39,066

How much EMI will I pay for a Rs. 1 crore home loan availed for 20 years @ 7.10% p.a.?

The EMI you will pay for a Rs. 1 crore home loan availed for 20 years @ 7.10% p.a. would be Rs. 78,131

Are processing fees included in the EMI calculation?

No, the processing fees is not included in EMI calculations.

Does home loan insurance affect my EMI?

Yes, home loan insurance if included in your loan amount affects your EMI.

Can I change my EMI after the loan is sanctioned?

Yes, you can request your lender for restructuring the loan and increasing/reducing the EMI.

Can I transfer my home loan to reduce my EMI?

Yes, you can transfer your home loan to a lender offering lower interest rates and reduce your EMI.

How can I reduce the total interest cost payable on my home loan?

You can transfer your home loan to a lender offering lower interest rates and reduce your total interest cost.

What happens if I miss a home loan EMI payment?

If you miss a home loan EMI payment you will be charged late payment fees by the lender. It also affects your credit score which can make it difficult to avail loans and credit cards in future.

Can I calculate EMI before applying for a home loan?

Yes, you can calculate your home loan EMI even before loan application using the Paisabazaar’s Home Loan EMI Calculator available online.

Does a higher CIBIL score reduce my home loan EMI?

Individuals with a high CIBIL score have better creditworthiness and lower risk of default enabling lenders to offer lower interest rates. The EMsI are low for lower interest rates.

Which bank offers the lowest EMI for a home loan?

The bank offering the lowest interest rates offer the lowest EMI for a home loan. Currently, Bank of India offers the lowest interest rates starting from 7.10% p.a.

Home Loan EMI Calculator

Home loan EMI calculator is an online financial tool that helps the individuals to check their loan affordability even before loan application. The home loan EMI depends on the interest rate, loan amount and loan tenure opted by the applicant. Prospective borrowers can use the home loan EMI calculator available on Paisabazaar to evaluate their financial stability and plan their EMIs as per their budget.

Calculate your Home Loan EMI Online

Select Your Bank

Enter Loan Amount

₹

1L10Cr

Rate of Interest (Yearly %)

6%30%

Loan Tenure

1Y 30Y

Your Monthly EMI Payment

₹0

Principal Amount₹0

Interest Amount₹0

Total Amount₹0

Find Best Home Loan Offers

Sort by:

HDFC Bank

Min Loan Amt. ₹15L

Rate of Interest7.2% - 13.2%

Tenure uptoUpto 30 Years

Processing Fee₹ 10,000

ICICI Bank

Min Loan Amt. ₹15L

Rate of Interest7.65% - 9.80%

Tenure uptoUpto 30 Years

Processing Fee₹ 10,000

Axis Bank

Min Loan Amt. ₹30L

Rate of Interest8.35% - 11.90%

Tenure uptoUpto 30 Years

Processing Fee₹ 14,000

What is a Home Loan EMI Calculator?

Home loan EMI calculator is a financial tool that allows the applicants to calculate the EMI and total interest cost depending on the loan amount, interest rate and loan tenure. All you need to do is enter the interest rate, loan amount and loan tenure in the EMI calculator and get instant results. The tool is quick, accurate, easily accessible, easy to navigate and available 24x7.

Home Loan EMI Formula

The Home Loan EMI is calculated using a standard mathematical formula that considers the loan amount, interest rate, and loan tenure.

EMI Calculation Formula

EMI = [P × R × (1+R)^N] / [(1+R)^N - 1]

Meaning of Variables

P = Loan Amount (Principal amount borrowed)
R = Monthly Interest Rate (Annual Interest Rate ÷ 12 ÷ 100)
N = Loan Tenure in Months (Number of monthly installments)

Example Calculation

Suppose:

Loan Amount (P) = Rs. 30,00,000
Interest Rate = 8.5% per annum
Tenure = 20 years (240 months)

Monthly Interest Rate (R) = 8.5/12/100 = 0.00708

Using the formula, your EMI will be approximately Rs. 26,032 per month.

How to Use the Home Loan EMI Calculator

Home loan EMI calculator works on a standard mathematical formula. Follow the steps to know the working of a home loan EMI calculator:

Open the home loan EMI calculator available online.
Enter the loan amount, interest rate and loan tenure.
The tool shows the EMI and total interest cost to be paid throughout the loan tenure instantly.

What are Key Features and Benefits of Home Loan EMI Calculator

Below-mentioned are the features and benefits of the home loan EMI calculator:

Calculates EMI and interest cost instantly.
Available online and is free of cost.
User-friendly and easy to operate.
Applicants can adjust the parameters (loan amount, interest rate, loan tenure).
The calculator gives accurate results.
No impact on credit score.
Helps to know the overall loan cost even before applying for a home loan.
Applicants can plan their EMIs as per their budget.
Helps them assess their loan affordability.
Allows for choosing the right tenure.
Saves time and effort.
The calculator is error-free, unlike manual calculations.

Get a Home Loan For
Your Dream Home

Home Loan EMI for Different Loan Amounts

Loan Amount	Loan Tenure	Interest Rate (p.a.)	EMI (Rs.)
Rs. 10 lakh	30 years	7.10%	6,720
Rs. 25 lakh	30 years	7.10%	16,801
Rs. 50 lakh	30 years	7.10%	33,602
Rs. 75 lakh	30 years	7.10%	50,402
Rs. 1 crore	30 years	7.10%	67,203

Home Loan EMI Calculator with Amortization Schedule

Below is the yearly amortization schedule for a Rs. 25,00,000 home loan at 7.10%, outlining the opening balance, Total Annual EMI (EMI × 12), Interest Paid During the Year, Principal Repaid, and Closing Balance.

Year	Opening Balance	EMI*12	Interest paid yearly	Principal paid yearly	Closing Balance
1	25,00,000	2,01,610	1,76,700	24,910	24,75,090
2	24,75,090	2,01,610	1,74,872	26,737	24,48,353
3	24,48,353	2,01,610	1,72,911	28,698	24,19,655
4	24,19,655	2,01,610	1,70,806	30,804	23,88,851
5	23,88,851	2,01,610	1,68,546	33,063	23,55,787
6	23,55,787	2,01,610	1,66,121	35,489	23,20,299
7	23,20,299	2,01,610	1,63,517	38,092	22,82,207
8	22,82,207	2,01,610	1,60,723	40,886	22,41,320
9	22,41,320	2,01,610	1,57,724	43,886	21,97,434
10	21,97,434	2,01,610	1,54,505	47,105	21,50,329
11	21,50,329	2,01,610	1,51,049	50,560	20,99,769
12	20,99,769	2,01,610	1,47,340	54,269	20,45,499
13	20,45,499	2,01,610	1,43,359	58,250	19,87,249
14	19,87,249	2,01,610	1,39,086	62,524	19,24,725
15	19,24,725	2,01,610	1,34,500	67,110	18,57,615
16	18,57,615	2,01,610	1,29,577	72,033	17,85,582
17	17,85,582	2,01,610	1,24,292	77,317	17,08,265
18	17,08,265	2,01,610	1,18,621	82,989	16,25,276
19	16,25,276	2,01,610	1,12,533	89,077	15,36,200
20	15,36,200	2,01,610	1,05,999	95,611	14,40,589
21	14,40,589	2,01,610	98,985	1,02,625	13,37,964
22	13,37,964	2,01,610	91,457	1,10,153	12,27,811
23	12,27,811	2,01,610	83,376	1,18,233	11,09,578
24	11,09,578	2,01,610	74,703	1,26,907	9,82,671
25	9,82,671	2,01,610	65,394	1,36,216	8,46,456
26	8,46,456	2,01,610	55,401	1,46,208	7,00,247
27	7,00,247	2,01,610	44,676	1,56,934	5,43,314
28	5,43,314	2,01,610	33,164	1,68,446	3,74,868
29	3,74,868	2,01,610	20,807	1,80,802	1,94,065
30	1,94,065	2,01,610	7,544	1,94,065	0

Factors Affecting Your Home Loan EMI

Your home loan EMI primarily depends on the following factors:

Interest Rate- Home loan interest rate and EMI are directly related to each other. As the interest rate increases, so does the EMI and vice versa.
Loan Amount- Loan amount and EMI are also directly proportional to each other. Applicants borrowing a larger loan amount have to pay higher EMIs.
Loan Tenure- Longer tenure results in smaller EMIs. However, the interest cost incurred is very high for longer tenures.
Part Prepayments- When you pay a small portion of your loan towards your principal amount before the loan maturity date, your outstanding loan amount reduces. This reduces the EMI and eventually the total interest cost.
Balance Transfer- Existing home loan borrowers transfer their existing home loan account to a lender offering a lower interest rate. This reduces the loan EMI and also the overall loan cost.

How to Reduce Your Home Loan EMI

Increase your down payment.
Negotiate for an interest rate reduction with the current lender.
Switch to a lower-interest home loan.
Make part-prepayments.

Prepayment and Its Impact on EMI

Prepayment usually reduces the home loan EMI. Whenever you have surplus funds, you can repay a lump sum amount towards your outstanding principal over and above the regular EMI.
It lowers your outstanding principal amount and eventually the tenure and interest cost, provided the EMI remains the same.
As per the RBI’s directive, lenders cannot levy a penalty on prepayment for floating-rate home loans. However, for fixed-rate home loans, lenders might charge a prepayment fee of up to 4% of the outstanding loan amount.
It is advisable to prepay your loan amount in the early years of your loan tenure. This is because the interest component is higher in the early years.

How Does Loan Tenure Affect Your EMI

Shorter the tenure, higher is the EMI and vice-versa. However, the total interest cost is lower. This can be understood by the following table.

Interest rate (p.a.)	Loan amount (Rs.)	Loan tenure (years)	EMI (Rs.)
7.10%	30 lakh	30	20,161
7.10%	30 lakh	25	21,395
7.10%	30 lakh	20	23,439

How Interest Rate Affects Your EMI

As the interest rate increases, the total monthly installments also increase, and vice-versa. The below-mentioned table explains the impact of change in interest rate on the EMI.

Interest rate (p.a.)	Loan amount (Rs.)	Loan tenure (years)	EMI (Rs.)
7.10%	30 lakh	30	20,161
7.30%	30 lakh	30	20,567
7.45%	30 lakh	30	20,874

How Much Home Loan Can You Afford

Home loan EMI calculator helps individuals to know their loan affordability even before a loan application. The loan affordability usually depends on the EMI/NMI ratio of the applicants. The EMI/NMI ratio of the individuals should be 55% or less, including the existing EMIs and the EMI of the existing home loan. The applications of applicants exceeding this limit are usually declined or are accepted with a higher interest rate.

Get Home Loan for Different Budgets

Home Loan of ₹20 Lakh	Home Loan of ₹30 Lakh	Home Loan of ₹40 Lakh
Home Loan of ₹60 Lakh	Home Loan of ₹1 Crore	Home Loan of ₹5 Crore

Calculators	Interest Rates
Axis Home Loan EMI Calculator	Axis Bank Home Loan Interest Rate
HDFC Home Loan EMI Calculator	Bank of Baroda Home Loan Interest Rate
SBI Bank Home Loan EMI Calculator	Canara Bank Home Loan Interest Rate
YES Bank Home Loan EMI Calculator	HDFC Home Loan Interest Rate
ICICI Home Loan EMI Calculator	LIC Housing Home Loan Interest Rate
Home Loan Eligibility Calculator	PNB Home Loan Interest Rate
Home Loan Prepayment Calculator	SBI Home Loan Interest Rate
SBI Bank Home Loan Eligibility Calculator	Bank of India Home Loan Interest Rate
HDFC Home Loan Eligibility Calculator	Kotak Bank Home Loan Interest Rate
Axis Home Loan Eligibility Calculator	Union Bank Home Loan Interest Rate

FAQs

What is a Home Loan EMI Calculator?

A home loan EMI calculator is an online financial tool that calculates the EMIs and total interest cost payable throughout the loan tenure.

How does a Home Loan EMI Calculator work?

Home loan EMI depends on the loan amount, interest rate and loan tenure. All you need to do is enter the loan amount, loan tenure and interest rate in the EMI calculator and get instant results.

How is home loan EMI calculated?

The home loan EMI is calculated using a standard mathematical formula that depends on the interest rate, loan amount and loan tenure.

How accurate is a Home Loan EMI Calculator?

A home loan EMI calculator usually gives accurate results.

What details are required to calculate home loan EMI?

You need to know the interest rate, loan amount and loan tenure to calculate the EMI.

How does the loan amount affect my EMI?

The higher the loan amount, the higher the EMI, and vice versa.

How does the interest rate affect my EMI?

The EMI increases with the increase in the interest rate.

How does changing the loan tenure affect my EMI?

The longer the loan tenure, the lower the EMI, and vice versa.

What is the difference between EMI and pre-EMI?

EMI is the equated monthly installment that includes both the principal and interest, whereas pre-EMI is only the interest paid on the disbursed loan amount.

What is an amortization schedule?

It is a repayment table that shows how each EMI is split between principal and interest throughout your loan tenure along with the remaining balance after each EMI.

Home Loan Articles

How Credit Score Helps Get Cheaper Home Loans

Sumit Kumar07 May 2026

Joint Home Loan Benefits

Vandana Punj18 Jul 2025

Factors to consider while availing joint home loan

Paisabazaar02 Jun 2025

Top 5 Reasons for Home Loans Rejections

Paisabazaar02 Jun 2025

Home Loan Overdraft Facility: Benefits and Drawbacks Explained

Paisabazaar02 Jun 2025

Home Loan Processing Fees and Charges

Bhumika Khandelwal13 Oct 2024

Home Loans: Floating vs Fixed Interest Rates

Rahul Misra01 Jun 2023

Missed home loan EMI? What will be the consequences?

Team PaisaBazaar18 May 2023

3 Tips to Help You Close Your Home Loan Early

Vandana Punj16 Apr 2023

Loan-to-Value (LTV) Ratio: Meaning, Importance and Calculation

Vandana Punj20 Feb 2023

View All Articles

What our customers say

Time saving process

Office ke chalte jyada samay nahi nikal pata tha. Paisabazaar ke online process ki wajah se na hi mene banks ke rates compare karliye ghar bathe balki mera loan application aur disbursal bhi ghar bathe hi ho gaya...bank jana hi nahi pada...

Pradeep SinghJan 7, 2026

Kam rates pe loan mila

Paisabazaar se mujhe bahut kam rate pe loan mil gaya...isse mere budget pe jada asar nahi pada aur jald hi mera apna ghar ho jayega..

Nidhi SharmaJan 6, 2026

eligibility check ho jati hai free

me home loan lene ka soch raha tha uske liye mene pehle paisabazaar app se free me apni eligibility check ki..usse mujhe pata chala muje kya cheeze improve karni hai aur fir mera loan jaldi approve ho gaya.

Shikhar SahuJan 5, 2026

Home loan mila yaahaan par

Mujhe home loan chahiye tha aur yahaan par sahayta kiya inhone aur loan mila. Pehla loan tha mera lekin sab ache se ho gaya.

Prem Prakash PandeyDec 7, 2025

Home loan here

I took home loan here and they helped me in every step specially in collecting and submitting documents at the time of approval.

Chandan SinghDec 1, 2025

Got the best home loan interest rate

I was confused and did not have so much time to carry out all the research, so I logged in to Paisabazaar’s portal and was able to see the home loan options I was eligible for. With the assistance of Paisabazaar’s experts, I was able to find the home loan that offered the rate of interest I could afford. Thank you Paisabazaar!

Anu BhatnagarSep 10, 2021

Excellent Home Loan Service by Paisabazaar

Ended up taking an ICICI Home Loan and I think it was one of the best decisions I ever made. I thank Paisabazaar for helping me out and answering my questions with so much patience.

KJ ThomasSep 10, 2021

Had a great experience with Paisabazaar

I have always heard my friends talking about how tedious it was for them to avail a home loan and decide the most suitable option. But with the help of Paisabazaar, I was able to compare several home loans and opt for the one that suited my needs. I am happy that I considered Paisabazaar for helping me.

Ritesh SharmaSep 10, 2021

quick and easy home loan process

I had never thought that applying for a home loan could be so easy. The entire process was online and I didn’t have to go anywhere for application or documentation of my home loan. Paisabazaar experts helped me navigate through the process and later the bank collected my documents and everything was quick and seamless.

Rupanjali MishraSep 3, 2021

Satisfied experience with Paisabazaar

I am satisfied with my home loan experience with Paisabazaar. I could easily compare different home loan options and apply for the home loan. Their customer care team also called me to confirm all the details and soon after the bank contacted to take the process forward. The process was really smooth.

Soumil KhannaSep 3, 2021

View All Testimonials

Written By

Vandana Punj

Reviewed By

Shamik Ghosh

Paisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners

*Applicable for selected customers

Check Handpicked Home Loan Offers
At Affordable Rates

Talk to Expert

Talk to Expert

Home Loan EMI Calculator

Calculate your Home Loan EMI Online

Your Monthly EMI Payment

Find Best Home Loan Offers

What is a Home Loan EMI Calculator?

Home Loan EMI Formula

EMI Calculation Formula

Meaning of Variables

Example Calculation

How to Use the Home Loan EMI Calculator

What are Key Features and Benefits of Home Loan EMI Calculator

Home Loan EMI for Different Loan Amounts

Home Loan EMI Calculator with Amortization Schedule

Factors Affecting Your Home Loan EMI

How to Reduce Your Home Loan EMI

Prepayment and Its Impact on EMI

How Does Loan Tenure Affect Your EMI

How Interest Rate Affects Your EMI

How Much Home Loan Can You Afford

Get Home Loan for Different Budgets

Related Links

FAQs

What is a Home Loan EMI Calculator?

How does a Home Loan EMI Calculator work?

How is home loan EMI calculated?

How accurate is a Home Loan EMI Calculator?

What details are required to calculate home loan EMI?

How does the loan amount affect my EMI?

How does the interest rate affect my EMI?

How does changing the loan tenure affect my EMI?

What is the difference between EMI and pre-EMI?

What is an amortization schedule?

Can I reduce my EMI by increasing the loan tenure?

Can I reduce my EMI through part prepayment?

Can I prepay my home loan without penalty?

What is the difference between fixed and floating home loan interest rates?

How does the RBI repo rate affect home loan EMI?

What are the benefits of using a Home Loan EMI Calculator?

Can I calculate EMI for different loan amounts and tenures?

How much EMI will I pay for a Rs. 10 lakh home loan availed for 20 years @ 7.10% p.a.?

How much EMI will I pay for a Rs. 25 lakh home loan availed for 20 years @ 7.10% p.a.?

How much EMI will I pay for a Rs. 50 lakh home loan availed for 20 years @ 7.10% p.a.?

How much EMI will I pay for a Rs. 1 crore home loan availed for 20 years @ 7.10% p.a.?

Are processing fees included in the EMI calculation?

Does home loan insurance affect my EMI?

Can I change my EMI after the loan is sanctioned?

Can I transfer my home loan to reduce my EMI?

How can I reduce the total interest cost payable on my home loan?

What happens if I miss a home loan EMI payment?

Can I calculate EMI before applying for a home loan?

Does a higher CIBIL score reduce my home loan EMI?

Which bank offers the lowest EMI for a home loan?

Home Loan Articles

What our customers say

Disclaimer