🏠 Home Loan EMI Calculator 2026
Calculate your monthly EMI, total interest, and view complete amortization schedule for your housing loan. Perfect for SBI, HDFC, ICICI, and other home loans.
SBI Home Loan
8.40%
Starting rate
HDFC Home Loan
8.50%
Starting rate
ICICI Home Loan
8.60%
Starting rate
Max Tenure
30 Years
For home loans
Home Loan Tips
- • Longer tenure = Lower EMI but more interest
- • Shorter tenure = Higher EMI but save interest
- • Prepayment can save significant interest
- • Compare rates from multiple banks
Your Home Loan Summary
Monthly EMI
₹ 43,391
Principal Amount
₹ 50,00,000
Total Interest
₹ 54,13,820
Total Payment (Principal + Interest)
₹ 1,04,13,820
Interest vs Principal
Tenure Comparison
15 Years
₹ 49,191/month
₹ 38,54,380
Total Interest
20 Years (Current)
₹ 43,391/month
₹ 54,13,820
Total Interest
25 Years
₹ 40,231/month
₹ 70,69,300
Total Interest
Amortization Schedule
First Year Interest
₹ 4,15,238
Last Year Interest
₹ 18,425
Total Interest
📚 Understanding Home Loan EMI
Home loan EMI (Equated Monthly Installment) is the fixed amount you pay every month towards your housing loan. It consists of two components: principal repayment and interest payment. In the early years, a larger portion goes towards interest, but over time, the principal portion increases.
📐 EMI Formula
EMI = P × r × (1+r)^n / ((1+r)^n - 1)
Where: P = Loan Amount, r = Monthly Interest Rate, n = Tenure in months
💡 Example Calculation
₹50,00,000 loan @ 8.5% for 20 years:
EMI = ₹43,391 | Total Interest = ₹54,13,820 | Total Payment = ₹1,04,13,820
❓ Frequently Asked Questions
How is home loan EMI calculated?
Home loan EMI is calculated using the formula: EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is loan amount, r is monthly interest rate, and n is tenure in months.
What is the maximum tenure for home loan?
Most banks offer home loan tenure up to 30 years. The maximum tenure depends on your age and retirement. Longer tenure reduces EMI but increases total interest.
Can I prepay my home loan?
Yes, most banks allow prepayment after 6-12 months. There's usually no penalty for floating rate loans. Prepayment reduces principal and saves future interest significantly.
What is an amortization schedule?
An amortization schedule shows the breakdown of each EMI payment into principal and interest, along with the remaining balance over the loan tenure. It helps you understand how your loan is being repaid.