Home Loan EMI Calculator 2026
Calculate your monthly home loan EMI, interest payout, and loan amortization schedule
EMI Calculator Summary
Interest Exceeds Principal
You will pay more in interest than the actual loan amount borrowed.
EMI Payment / Year
Your Repayment/Breakup Details (Monthly)
Your debt repayment schedule in regular instalments over a period of time.
| Year | Principal Amount | Total Interest | Total Amount | Balance |
|---|---|---|---|---|
| 2026▼ | ₹41,018 | ₹1,59,728 | ₹2,00,746 | ₹79,58,982 |
| Oct | ₹13,582 | ₹53,333 | ₹66,915 | ₹79,86,418 |
| Nov | ₹13,672 | ₹53,243 | ₹66,915 | ₹79,72,746 |
| Dec | ₹13,764 | ₹53,152 | ₹66,915 | ₹79,58,982 |
| 2027▶ | ₹1,72,498 | ₹6,30,485 | ₹8,02,982 | ₹77,86,484 |
| 2028▶ | ₹1,86,815 | ₹6,16,167 | ₹8,02,982 | ₹75,99,669 |
| 2029▶ | ₹2,02,321 | ₹6,00,662 | ₹8,02,982 | ₹73,97,349 |
| 2030▶ | ₹2,19,113 | ₹5,83,869 | ₹8,02,982 | ₹71,78,236 |
| 2031▶ | ₹2,37,299 | ₹5,65,683 | ₹8,02,982 | ₹69,40,936 |
| 2032▶ | ₹2,56,995 | ₹5,45,987 | ₹8,02,982 | ₹66,83,941 |
| 2033▶ | ₹2,78,326 | ₹5,24,657 | ₹8,02,982 | ₹64,05,616 |
| 2034▶ | ₹3,01,426 | ₹5,01,556 | ₹8,02,982 | ₹61,04,189 |
| 2035▶ | ₹3,26,445 | ₹4,76,538 | ₹8,02,982 | ₹57,77,745 |
| 2036▶ | ₹3,53,539 | ₹4,49,443 | ₹8,02,982 | ₹54,24,205 |
| 2037▶ | ₹3,82,883 | ₹4,20,099 | ₹8,02,982 | ₹50,41,322 |
| 2038▶ | ₹4,14,662 | ₹3,88,320 | ₹8,02,982 | ₹46,26,660 |
| 2039▶ | ₹4,49,079 | ₹3,53,904 | ₹8,02,982 | ₹41,77,582 |
| 2040▶ | ₹4,86,352 | ₹3,16,630 | ₹8,02,982 | ₹36,91,229 |
| 2041▶ | ₹5,26,719 | ₹2,76,263 | ₹8,02,982 | ₹31,64,510 |
| 2042▶ | ₹5,70,437 | ₹2,32,546 | ₹8,02,982 | ₹25,94,074 |
| 2043▶ | ₹6,17,783 | ₹1,85,200 | ₹8,02,982 | ₹19,76,291 |
| 2044▶ | ₹6,69,058 | ₹1,33,924 | ₹8,02,982 | ₹13,07,233 |
| 2045▶ | ₹7,24,590 | ₹78,393 | ₹8,02,982 | ₹5,82,643 |
| 2046▶ | ₹5,82,643 | ₹19,593 | ₹6,02,237 | ₹0 |
Formula used by EMI Calculator
=PMT(rate ( 0.0067 ), nper ( 240 ), pv ( ₹80,00,000 )) = ₹66,915=IPMT(pv ( ₹80,00,000 ), pmt ( ₹66,915 ), rate ( 0.0067 ), per ( 0 )) = ₹53,333=PPMT(rate ( 0.0067 ), per ( 0 ), nper ( 240 ), pv ( ₹80,00,000 )) = ₹13,582Loans & EMI
Compare calculations across closely related financial tools in this category.
Direct Peer & Companion Calculators
6 tools availableWealth Offsets & Debt-Free Strategies
Pair your loan with parallel wealth creation to neutralize bank interest.
Make Your Home Loan Interest Free: The 10% Parallel SIP Wealth Strategy
Your ₹50L home loan costs ₹54L extra in interest. A small parallel mutual fund SIP wipes that out and leaves you wealthier after 20 years.
Quick 1-Click Goal & Amount Presets
Long-Tail pSEO Target PresetsThe Front-Loaded Bank Interest Trap
Why your first 5 years of home loan EMIs pay almost zero principal
On an ₹80 Lakh loan at 8.5% for 25 years (EMI ~₹64,500), your first 5 years involve paying ₹38.7 Lakhs to the bank. Shockingly, over ₹33 Lakhs is pure interest—your principal barely drops from ₹80L to ₹74.3L!
Paying just 1 extra EMI every year (or an extra 8.3% monthly) directly attacks your principal balance. This single adjustment shrinks a 25-year mortgage down to ~18.2 years!
By destroying the compounding interest curve before the bank collects it, you prevent ₹32,40,000 from leaving your family's balance sheet. Pure, risk-free guaranteed tax-free savings.
How to Make Your Home Loan Virtually Interest-Free: Mathematical Frameworks
When Indian families sign 20-year or 25-year home loan agreements with SBI, HDFC, or ICICI Bank, they rarely calculate the cumulative interest figure at the bottom of the sanction letter. On a ₹75 Lakh home loan borrowed at 8.75% for 20 years, your total payback is a staggering ₹1.59 Crores—meaning you buy one house for yourself, and fund a second house for the lending institution!
Always Choose "Reduce Loan Tenure"
When you make a part-prepayment, banks offer two choices: lower your monthly EMI or shorten your remaining tenure. Always choose tenure reduction. Lowering EMI keeps you indebted for 240+ months, allowing daily compounding interest to continue bleeding your capital.
The 5% Annual Step-Up Prepayment Rule
As your annual corporate salary increments by 7% to 12%, increase your monthly home loan prepayment by just 5% each April. A borrower starting with a ₹50,000 EMI who steps up payments by 5% annually wipes out a 20-year loan in just 10.8 years with zero lifestyle deprivation.
Home Mortgage Amortization: Mastering Long-Term Residential Debt
Because residential housing loans span 15 to 30 years, small differences in interest rate or tenure exert monumental impacts on total borrowing expenses. On a ₹50 Lakh loan at 8.75% for 20 years, total interest paid exceeds ₹56 Lakhs—more than the actual property principal borrowed.
Optimal 15 vs 20 Year Tenure Selection
Selecting a 15-year tenure increases your monthly installment by roughly 18% compared to a 20-year term, but cuts your total lifetime interest burden by nearly 30%.
Tax Deductions (Old Regime)
Under the Old Tax Regime, homeowners can claim up to ₹2 Lakhs per annum under Section 24(b) for interest paid, plus up to ₹1.5 Lakhs under Section 80C for principal repayment.
Home Loan EMI & Mortgage FAQs
Clear answers on home financing, tax exemptions, and tenure optimization.
Can both co-borrowers claim tax deductions on the same home loan?
Yes. If a husband and wife are joint owners of the property and co-borrowers servicing the EMI from their respective bank accounts, each can claim up to ₹2 Lakhs under Section 24(b) and up to ₹1.5 Lakhs under Section 80C under the Old Regime.
What is EBLR in Indian home loans?
External Benchmark Lending Rate (EBLR) is the standardized benchmark (typically the RBI Repo Rate) to which all floating-rate bank retail loans are tethered, ensuring transparent rate transmission.
Should I opt for a 30-year home loan tenure to keep EMIs affordable?
A 30-year tenure minimizes monthly installments, enhancing initial cash flow. However, total interest paid over 30 years can exceed 150% of the loan principal. It is wise to take a 30-year tenure for safety, but make voluntary annual prepayments.
Does prepaying a home loan attract TDS?
No. Loan repayments are repayments of borrowed capital and interest liabilities, carrying no tax deduction at source (TDS) for individual retail borrowers.
Can I claim home loan interest deductions if my house is under construction?
Interest paid during the construction phase cannot be claimed in the year it is incurred. Instead, pre-construction interest is aggregated and claimed in 5 equal annual installments starting from the financial year in which construction is completed.