Typically 8.3%–9.5% p.a., up to 30 years
Home loan EMI calculator
Work out the EMI on a home loan, see how much of it is interest in the early years, and test what a small extra payment does to a 20 or 30 year tenure.
Your loan details
₹35.00 L
Monthly reducing balance. 0% is supported.
Total tenure: 240 months (20 years)
Use this for tenures like 5 years 6 months.
Added to every EMI and applied straight to principal.
Monthly EMI
₹30,930
Loan closes in
20 years
Oct 2046
Total interest
₹39.23 L
₹39,23,170
Total payment
₹74.23 L
Principal ₹35.00 L
Shared links carry only the loan numbers you entered — never any personal details.
| Year | Interest | Principal | Balance |
|---|---|---|---|
| Year 1 | ₹3,03,583 | ₹67,576 | ₹34,32,424 |
| Year 2 | ₹2,97,427 | ₹73,732 | ₹33,58,692 |
| Year 3 | ₹2,90,710 | ₹80,448 | ₹32,78,244 |
| Year 4 | ₹2,83,382 | ₹87,777 | ₹31,90,467 |
| Year 5 | ₹2,75,385 | ₹95,773 | ₹30,94,694 |
| Year 6 | ₹2,66,661 | ₹1,04,498 | ₹29,90,196 |
| Year 7 | ₹2,57,142 | ₹1,14,017 | ₹28,76,179 |
| Year 8 | ₹2,46,755 | ₹1,24,403 | ₹27,51,776 |
| Year 9 | ₹2,35,422 | ₹1,35,736 | ₹26,16,040 |
| Year 10 | ₹2,23,057 | ₹1,48,101 | ₹24,67,939 |
| Year 11 | ₹2,09,566 | ₹1,61,592 | ₹23,06,346 |
| Year 12 | ₹1,94,846 | ₹1,76,313 | ₹21,30,034 |
| Year 13 | ₹1,78,784 | ₹1,92,374 | ₹19,37,659 |
| Year 14 | ₹1,61,260 | ₹2,09,899 | ₹17,27,761 |
| Year 15 | ₹1,42,139 | ₹2,29,019 | ₹14,98,741 |
| Year 16 | ₹1,21,276 | ₹2,49,882 | ₹12,48,859 |
| Year 17 | ₹98,513 | ₹2,72,645 | ₹9,76,214 |
| Year 18 | ₹73,676 | ₹2,97,482 | ₹6,78,731 |
| Year 19 | ₹46,577 | ₹3,24,582 | ₹3,54,150 |
| Year 20 | ₹17,009 | ₹3,54,150 | ₹0 |
ByeToEMI — Home loan statement
Loan amount ₹35,00,000 · Rate 8.75% p.a. · Tenure 240 months · EMI ₹30,930
Assumptions: monthly reducing balance, interest on the outstanding principal, first EMI next month, extra payments applied to principal in the same month, fees shown separately.
Total interest ₹39,23,170 · Total payment ₹74,23,170 · Closes in 20 years (Oct 2046)
ByeToEMI provides indicative calculations for educational and planning purposes. Actual lender calculations, charges, interest-rate changes and repayment schedules may differ. ByeToEMI is not a lender, loan broker or financial advisor.
These results are mathematical estimates. Your lender's EMI, fees, taxes and prepayment charges may differ. Read the full financial disclaimer.
How this calculator works
A home loan is repaid in equal monthly instalments on a monthly reducing balance. Each instalment pays that month's interest on the outstanding principal first; whatever is left reduces the principal.
Because the outstanding amount is large in the early years, the interest share of each EMI is highest at the start. That is why prepayments made in the first third of the tenure save far more than the same amount paid later.
Most Indian home loans are floating rate and linked to an external benchmark such as the repo rate. When the benchmark moves, lenders usually keep your EMI unchanged and adjust the tenure, or reset the EMI at review.
The formula used is the standard monthly reducing-balance EMI: 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. At 0% interest the EMI is simply P ÷ n.
A worked example
A ₹35,00,000 home loan at 8.75% per year for 240 months has an EMI of about ₹30,930.
Over the full 20 years you would pay roughly ₹39.23 lakh in interest, so the total outgo is about ₹74.23 lakh.
Add ₹5,000 to every instalment — ₹35,930 a month — and the loan closes in about 171 months (14 years 3 months), saving roughly ₹12.96 lakh of interest.
Limitations you should know
- Floating-rate resets, moratorium periods and part-disbursement during construction are not modelled month by month.
- Processing fees, legal charges, insurance premiums and stamp duty are treated as separate costs, not added to the principal.
- Lenders may round the EMI, charge interest on a daily-reducing basis, or apply prepayments on a different date, so your statement can differ by a small amount.
Frequently asked questions
- Should I reduce the EMI or the tenure when I prepay?
- Reducing the tenure saves far more interest because you keep paying the same instalment against a smaller balance. Reducing the EMI helps monthly cash flow but keeps you in the loan for the original term.
- When is the best time to prepay a home loan?
- As early as possible. The interest portion of your EMI is highest in the first years, so a prepayment then removes more future interest than the same amount paid near the end.
- Do banks charge a penalty for home loan prepayment?
- For floating-rate home loans to individual borrowers, RBI rules do not allow foreclosure or prepayment charges. Fixed-rate loans can attract a charge, so check your sanction letter.
- Does a longer tenure make a home loan cheaper?
- No. A longer tenure lowers the monthly EMI but increases the total interest you pay, often substantially. Use this calculator to compare 15, 20 and 25 year tenures on the same amount.
- How much home loan can my EMI support?
- Lenders usually keep total EMIs within about 40–50% of net monthly income. Enter different amounts here to see which EMI fits comfortably alongside your other commitments.
Last reviewed: 1 September 2026
ByeToEMI provides indicative calculations for educational and planning purposes. Actual lender calculations, charges, interest-rate changes and repayment schedules may differ. ByeToEMI is not a lender, loan broker or financial advisor.