Calculate your monthly EMI, total interest, and amortization schedule with RBI‑compliant accuracy | Compare SBI, HDFC, ICICI, and more
| 🏦 Loan Amount | ₹ 0 |
| 📊 Interest Rate | 0% |
| ⏱️ Loan Tenure | 0 months |
| 📅 Monthly EMI | ₹ 0 |
| 💰 Total Interest | ₹ 0 |
| 💵 Total Payment | ₹ 0 |
| # | Date | EMI (₹) | Principal (₹) | Interest (₹) | Balance (₹) |
|---|---|---|---|---|---|
| Click Calculate to generate schedule | |||||
Also check: Home Loan Eligibility Calculator | Balance Transfer Calculator
Planning to buy a home in India? The very first thing you need is a clear picture of your monthly outgo. A home loan EMI calculator takes the guesswork out of your housing loan journey. It tells you exactly how much you will pay every month, how much interest you will end up paying, and how the loan gets paid off over time. In this article, we break down everything – from the EMI calculation formula to RBI rules, and from SBI home loan EMI calculator comparisons to smart prepayment strategies.
EMI stands for Equated Monthly Instalment. It is the fixed amount you pay every month to the bank until the loan is fully repaid. A home loan EMI calculator uses three inputs: loan amount, interest rate, and tenure. It then applies the standard EMI calculation formula = P × r × (1+r)^n / ((1+r)^n – 1), where P = principal, r = monthly interest rate, n = number of months. Our calculator above does this instantly – just slide the numbers and see the result.
Most people only look at the loan amount, not the monthly burden. A loan EMI calculator shows you the real cost. For example, a ₹50 lakh home loan EMI at 8.5% for 20 years gives an EMI of around ₹43,391 and total interest of ₹54 lakh. By adjusting the tenure, you can see how a 30‑year loan lowers the EMI to ₹38,448 but increases total interest to ₹88 lakh. Similarly, a ₹30 lakh home loan EMI would be roughly ₹26,035 for 20 years. For high‑value loans, a ₹1 crore home loan EMI calculator shows that at 8.5% for 20 years, the monthly payment is ₹86,781. This transparency helps you choose what fits your budget.
Using our emi calculator india is straightforward. Enter the loan amount (₹1 lakh to ₹10 crore), interest rate (5% to 18%), and tenure (1 to 30 years). The home loan monthly emi calculator instantly updates the EMI, total interest, and total payment. You can also choose a start date to see the amortisation schedule month by month. The chart shows the proportion of principal vs interest. For any lender – SBI home loan EMI calculator or HDFC – the math is the same; only the interest rate differs.
As of June 2026, SBI home loan interest rate for salaried borrowers starts at 8.40% p.a. For a loan of ₹40,00,000 over 20 years, the EMI would be approximately ₹34,600. Our calculator lets you compare SBI’s rate with any other bank instantly. You can also use the Home loan EMI calculator Indian Bank scenario by simply changing the interest rate field.
Many borrowers want to know: “Given my monthly salary, what EMI can I afford?” Banks usually follow the FOIR rule – your total EMI should not exceed 50‑60% of your monthly income. For a salaried person earning ₹1,00,000 per month, the maximum affordable EMI is around ₹50,000‑60,000. Using our home loan EMI calculator by salary, you can reverse‑engineer: enter different loan amounts until the EMI matches your comfort level. For example, to keep EMI under ₹40,000 at 8.5% for 20 years, the loan amount should be about ₹46 lakh. This EMI calculator for salaried employee helps you plan without stretching your budget.
While the EMI calculator tells you the monthly payment, the home loan eligibility calculator tells you the maximum loan amount a bank will give you. It considers your income, existing EMIs, age, and property value. Our separate eligibility tool uses RBI’s FOIR norms (75% for salaried, 65% for self‑employed). A quick rule of thumb: your eligible loan is roughly 60‑70 times your monthly income for a 20‑year tenure. For a ₹1 lakh monthly salary, you can expect a loan of ₹60‑70 lakh. Always check both calculators together – eligibility first, then EMI.
Different banks offer slightly different interest rates. Below is a comparison of SBI home loan EMI calculator, HDFC home loan EMI calculator, ICICI home loan EMI calculator, and Axis Bank for a ₹50 lakh loan over 20 years. These numbers are based on current rates (June 2026). Use our main calculator to adjust for your exact loan amount.
| Bank | Interest Rate (p.a.) | EMI on ₹50 Lakh (20 years) |
|---|---|---|
| SBI | 8.40% | ₹43,050 |
| HDFC | 8.50% | ₹43,391 |
| ICICI | 8.75% | ₹44,150 |
| Axis Bank | 8.60% | ₹43,700 |
Remember, the actual rate you get depends on your CIBIL score, employer, and negotiation. The home loan EMI chart above gives you a quick reference. For self‑employed individuals, rates may be 0.10‑0.25% higher – use our EMI calculator for self employed by entering the applicable rate.
Making part‑prepayments can significantly reduce your total interest and loan tenure. A home loan EMI calculator with prepayment lets you see the impact. For example, take a ₹50 lakh loan at 8.5% for 20 years (EMI ₹43,391, total interest ₹54.1 lakh). If you prepay ₹5 lakh in the 5th year, your interest drops by nearly ₹12 lakh, and tenure reduces by about 4 years. Even small annual prepayments of ₹50,000 can save lakhs. Our amortisation schedule above shows the outstanding balance each month – use it to plan your prepayment strategy. RBI allows unlimited prepayment on floating rate loans without penalty, so take advantage.
The table below our calculator shows the complete repayment journey – each month’s EMI split into principal and interest, and the remaining balance. In the early years, interest dominates the EMI. Over time, the principal portion grows. This knowledge is crucial if you plan to make part‑prepayments. The home loan calculator also allows you to filter by year, so you can see exactly how much interest you will pay in the first five years.
Our home loan eligibility calculator (available separately) helps you check how much you qualify for. Meanwhile, the EMI calculator focuses on repayment.
Both use the same formula, but personal loans usually have higher interest rates (10‑18%) and shorter tenures (1‑5 years). Our personal loan EMI calculator is a separate tool on BankerMart. For home loans, because of RBI’s favourable regulations and tax benefits, the EMI is more affordable for the same loan amount.
The home loan tenure calculator is essentially the same as the EMI calculator – you can see the effect of tenure on EMI. If you are 45 years old, your maximum possible tenure might be 15‑20 years (since loan must close by retirement). That forces a higher EMI. Younger buyers (25‑35) can take 30‑year loans and enjoy lower monthly payments.