Home Loan EMI Calculator
What your home loan really costs, month by month and in today's money.
A Rs 25 lakh home loan at 8.5% over 20 years costs Rs 21,696 a month and Rs 27.1 lakh in total interest. Adding Rs 5,000 a month in prepayment clears it in 12 years 11 months and saves about Rs 10.9 lakh of interest.
How this is calculated
Year-by-year breakdown
Free home loan EMI calculator for India and the US
This free online home loan EMI calculator gives the exact monthly instalment on a housing loan or mortgage, the total interest you will pay over the tenure, and a year-by-year amortization chart showing how early EMIs are almost all interest and the principal only melts in the later years. The EMI formula is P x r x (1+r)^n / ((1+r)^n - 1), with a monthly rate r. No sign-up, works in INR and USD.
Because a home loan runs for 15 to 30 years, inflation matters: turn it on and the calculator shows what your fixed EMI will feel like in today's money. A Rs 50,000 EMI feels like roughly Rs 19,000 after 20 years of 5% inflation, which is exactly why prepaying early saves far more interest than prepaying late.
Worked example
A Rs 25 lakh home loan at 8.5% for 20 years has an EMI of about Rs 21,696. Over the full tenure you repay about Rs 52 lakh, so the total interest is roughly Rs 27 lakh, more than the amount you borrowed. Shortening the tenure or making early prepayments cuts that interest sharply.
| Loan amount | Rate | Tenure | EMI | Total interest |
|---|---|---|---|---|
| Rs 25 lakh | 8.5% | 20 yr | ~Rs 21,696 | ~Rs 27 lakh |
| Rs 50 lakh | 8.5% | 20 yr | ~Rs 43,391 | ~Rs 54 lakh |
| Rs 75 lakh | 9% | 25 yr | ~Rs 62,940 | ~Rs 1.14 crore |
Why use Hisaab's home loan calculator
Beyond the EMI and total interest, it shows the amortization curve and the inflation-adjusted view of future EMIs, so you can see both what the loan costs and what it will feel like to pay later. Weighing prepayment against investing the difference? Compare it with the SIP calculator at the same horizon, or look at a car loan or personal loan instead.
For AI agents: URL-addressable as /home-loan/?principal=2500000&rate=8.5&years=20. Docs at llms.txt, live results in #result-json.
Key facts
| Typical rate | 8 to 9.5% floating, linked to the repo rate |
|---|---|
| Typical tenure | 15 to 30 years |
| Prepayment penalty | Nil on floating-rate loans to individuals, per RBI rules |
| Tax, old regime | Up to Rs 2 lakh of interest under Section 24(b), principal under 80C |
| Tax, new regime | No deduction for a self-occupied property |
How to use the Home Loan EMI Calculator
- Pick your country, India (INR) or the US (USD), from the top right.
- Enter the home loan amount (the principal you are borrowing).
- Enter the annual interest rate your lender offers and the tenure in years.
- Read the monthly EMI and total interest in the result cards.
- Open the year-by-year breakdown to see how the principal-versus-interest split changes over the loan.
- Turn on inflation to see what your future EMI will feel like in today's money, or copy a shareable link.
Sources
Last reviewed and updated: 23 August 2026. Estimates only, not financial or tax advice.
Frequently asked questions
How is home loan EMI calculated?
EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r the monthly interest rate (annual rate / 12) and n the number of months. A Rs 25 lakh home loan at 8.5% for 20 years works out to an EMI of about Rs 21,696.
How much interest do I pay on a home loan?
Often more than the amount borrowed. On a Rs 25 lakh loan at 8.5% for 20 years you repay about Rs 52 lakh in total, so roughly Rs 27 lakh is interest. A longer tenure lowers the EMI but raises the total interest sharply.
Should I prepay my home loan early?
Early prepayments save the most, because interest is charged on the outstanding balance, which is highest at the start. A prepayment in year 2 wipes out far more future interest than the same amount in year 15. The amortization chart on this page shows why.
Does a longer tenure reduce my home loan EMI?
Yes, a longer tenure lowers the monthly EMI but increases the total interest you pay over the life of the loan, because the principal is outstanding for longer. Use the tenure slider to see the trade-off.
Is this home loan calculator free?
Yes. It is free with no sign-up or ads, and works for both India (INR) and the US (USD).