Reducing balance · your figures
Home Loan EMI Calculator
The instalment, the interest, and the month your payments stop being mostly a fee — computed in your browser as you type. No sign-up, no phone number, no gate.
Your loan
Drag or type. Every value below is a starting point you are meant to replace, not a rate we are quoting you.
Slider spans ₹10 L – ₹5 Cr; the field accepts any amount up to ₹50 Cr.
Editable default, not a quoted rate. Use the figure on your own sanction letter or offer.
Used only to show the implied property value. It does not change the EMI, which is charged on the loan.
- Property value
- ₹62,50,000
- Down payment
- ₹12,50,000 (20%)
- Loan amount
- ₹50,00,000
- Interest rate
- 8.75% p.a.
- Tenure
- 20 years
Monthly EMI
₹44,186
on ₹50,00,000 for 20 years at 8.75% p.a. You would repay ₹1,06,04,529 in total, of which ₹56,04,529 is interest.
- Principal
- ₹50,00,000what you borrow
- Total interest
- ₹56,04,529the cost of borrowing it
- Total repayment
- ₹1,06,04,529principal + interest
What is inside each instalment
The ribbon is one instalment wide and the same height all the way across, because the figure never changes. What changes is the line through it.
Instalment 1 of 240, Sep 2026: ₹36,458 of the ₹44,186 is interest and ₹7,727 comes off the loan, leaving ₹49,92,273 outstanding.
- Interest in this instalment
- ₹36,458
- Principal in this instalment
- ₹7,727
- Balance after it
- ₹49,92,273
- Interest paid to this point
- ₹36,458
- Of the loan repaid
- 0.2%
- Instalments still to pay
- 239
Instalment 146 of 240 — Oct 2038 — is the first one that repays more of the loan than it costs you in interest. More than half of what you borrowed is still outstanding until instalment 167, Jul 2040.
Across the whole 20 years: principal 47% · interest 53% of everything you hand over.
Indicative arithmetic, not financial advice and not an offer of credit. Your actual instalment depends on the rate, tenure and fees your lender sanctions.
The schedule
Where every instalment actually goes
A level EMI is not a level payment. In the early years most of it is interest and barely any of it reduces what you owe; the split reverses slowly, then all at once. Open the schedule below and expand a year to see the month-by-month split.
How it is worked out
The formula, in plain words
Nothing here is proprietary. It is the standard reducing-balance instalment every Indian lender uses, and you can check this page against your own sanction letter line by line.
An EMI is the single monthly figure that clears a loan of P rupees over n months at a monthly interest rate of r. Written out, it is EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where r is the annual rate divided by twelve and then by a hundred — so 8.75% a year becomes 0.0072917 a month.
What that formula hides is the part that changes how people actually decide. Interest is charged each month on the balance still outstanding, so in month one on a ₹50 lakh loan at 8.75% about ₹36,458 of the instalment is interest and only the remainder chips at the principal. The instalment never changes, but its composition does — slowly at first, then decisively in the last third of the tenure. The schedule above is that reversal, month by month, and it is worth scrolling to the middle to see how little of the debt has gone by year ten.
This page follows the same convention as a lender's amortisation statement: the first instalment falls in the current calendar month, interest is computed on the opening balance, and the final instalment is trimmed so the balance lands exactly on zero rather than a rupee either side. There is no compounding subtlety hidden anywhere — if your lender's statement differs from this page by more than rounding, the difference is a fee, a rate reset or a different day-count convention, and it is worth asking which.
Four things buyers get wrong
- Comparing offers on EMI alone. A longer tenure makes any loan look cheaper monthly and costs far more in total. Compare total interest, then check the instalment fits.
- Forgetting the costs the loan does not cover. Stamp duty, registration, GST where applicable, interiors and society deposits are paid out of your own money, on top of the down payment.
- Assuming a floating rate stays put. If your rate is floating, the tenure — not the instalment — usually absorbs the change first. Re-run this page at a rate two points higher and see whether the answer is still comfortable.
- Treating a sanctioned amount as a budget. What a lender is willing to lend and what you can comfortably repay for twenty years are two different numbers, and only one of them is yours.
Everything on this page is arithmetic over the values you entered. It is not financial advice, not a credit offer and not a promise of any rate. Lenders set their own rates, fees and eligibility rules.
Next
What to work out next
The instalment is one number. These are the two that change it — one you choose, and one the construction stage chooses for you.
Questions
Home loan EMI, answered
EMI (Equated Monthly Instalment) is the fixed amount you pay your lender every month until your home loan is fully repaid. The instalment stays level; what changes inside it is the split between interest and principal.
Your EMI is based on three things — the loan amount, the interest rate and the tenure. A higher loan or rate raises the EMI, while a longer tenure lowers the monthly amount but increases total interest. The standard reducing-balance formula is EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the principal, r is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the number of months.
Shorter tenures (10–15 years) mean higher EMIs but far less total interest. Longer tenures (20–30 years) keep monthly payments comfortable but cost more over time. A commonly used rule of thumb is to keep the EMI within about 40% of monthly income, but that is a rule of thumb and not a lending criterion — your lender will apply its own.
Usually, yes. Many lenders allow part or full prepayment with little or no penalty on floating-rate home loans, and prepaying early reduces the outstanding principal that all future interest is charged on. The terms differ between lenders and between fixed and floating products, so check your sanction letter rather than assuming.
No. It computes the instalment on the loan principal alone. Processing fees, legal and valuation charges, mandatory or optional insurance premiums, and any charge your lender adds are outside this calculation and are usually paid separately at sanction or disbursal. Ask for the sanction letter's full schedule of charges before you compare two offers on EMI alone.
Lenders differ, but the list below is what most Indian home-loan applications ask for.
- Identity & address proof (Aadhaar, PAN, passport)
- Income proof — salary slips or ITRs for the last 2–3 years
- Bank statements for the last 6 months
- Property documents & sale agreement
- Passport-size photographs
You can, but convert first. Every field on this page is in rupees and the page performs no currency conversion — enter the loan amount in rupees, and if you are budgeting against foreign-currency income, convert it yourself at a rate you have chosen and can defend. What comes back is arithmetic on your own inputs and nothing else. It is not a quotation, not an eligibility check, not an approval and not advice, and it does not know your income at all. A lender assessing a non-resident applicant applies its own income assessment, its own treatment of exchange-rate risk and its own eligibility rules. Its sanction letter is the only figure that binds anyone.
Bring your numbers to the site
A calculator settles the arithmetic. It cannot tell you whether the ceiling height, the light at four in the afternoon or the drive out of the gate suit you. Pick a date, walk the project, and ask for the payment schedule in writing.