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Guide · Calculators & Tools

Home Loan EMI Calculator — EMI, Interest & Schedule

Enter your loan amount, interest rate and tenure to instantly see the monthly EMI, total interest payable and a year-wise amortization breakdown — plus the 80C and Section 24(b) tax benefits on your home loan.

Written by
TaxClue Editorial Desk
Updated
18 August 2026
Reading time
3 min
Questions
13 answered
  • Instant EMI + amortization
  • Tax benefit ready
  • Updated FY 2025-26
Quick Answer

Home loan EMI is calculated as EMI = P × r × (1+r)n / ((1+r)n − 1), where P = principal, r = monthly rate (annual ÷ 12 ÷ 100) and n = tenure in months. For ₹50 lakh at 8.5% over 20 years, the EMI is about ₹43,391/month and total interest ≈ ₹54.1 lakh. In the old regime you can also claim up to ₹2 lakh/yr interest (Section 24b) and ₹1.5 lakh/yr principal (Section 80C).

Interactive tool

Home Loan EMI Calculator

Move the sliders or type your figures — the EMI, total interest and a year-wise amortization schedule update instantly. Nothing is stored; the calculation runs entirely in your browser.

How to read the result

"Total Amount" is your EMI × total months — the full cash you repay. "Total Interest" is that minus the principal. A longer tenure lowers the monthly EMI but sharply raises total interest, so compare a few tenures before you lock in.

How it works

The EMI Formula & a Worked Example

The calculator applies the standard reducing-balance EMI formula. Each EMI is part interest (on the outstanding balance) and part principal; early EMIs are interest-heavy and later ones are principal-heavy — which is why the amortization table matters.

  • P — principal (loan amount sanctioned)
  • r — monthly interest rate = annual rate ÷ 12 ÷ 100
  • n — tenure in months = years × 12
  • EMI = P × r × (1+r)n ÷ ((1+r)n − 1)

Example: ₹50,00,000 at 8.5% for 20 years → r = 0.007083, n = 240 → EMI ≈ ₹43,391. Total repayment = ₹43,391 × 240 ≈ ₹1.04 crore, so total interest ≈ ₹54.1 lakh.

Rates are illustrative

Home loan rates in FY 2025-26 typically sit around 8.0%–9.5% depending on your credit score, LTV and whether the loan is repo-linked (RLLR) or MCLR-linked. Use your own sanctioned rate in the calculator for an exact EMI.

Quick reference

Home Loan EMI at Common Rates (20-year tenure)

Indicative monthly EMI for popular loan sizes across FY 2025-26 interest rates. The last row shows how a 30-year tenure lowers the EMI on the same ₹50 lakh loan.

Loan AmountRate 8%Rate 8.5%Rate 9%Rate 9.5%
₹20 lakh (20yr)₹16,729₹17,357₹17,995₹18,643
₹30 lakh (20yr)₹25,093₹26,035₹26,992₹27,964
₹50 lakh (20yr)₹41,822₹43,391₹44,986₹46,607
₹75 lakh (20yr)₹62,733₹65,087₹67,479₹69,910
₹1 Cr (20yr)₹83,644₹86,782₹89,973₹93,213
₹50 lakh (30yr)₹36,688₹38,446₹40,231₹42,043

Figures are indicative; your actual EMI depends on the exact rate, processing terms and any insurance bundled with the loan.

Old regime only

Home Loan Tax Benefits on Your EMI

Your EMI splits into principal and interest, and each has a separate deduction in the old tax regime. None of these are available in the new regime for a self-occupied house.

ComponentSectionMax DeductionCondition
Interest paymentSection 24(b)₹2 lakh/yearSelf-occupied; acquisition/construction completed within 5 years
Interest (let-out property)Section 24(b)Full interestLoss set-off against other heads capped at ₹2L/yr
Principal repaymentSection 80C₹1.5 lakh/yearWithin the overall ₹1.5L Section 80C ceiling
Stamp duty & registrationSection 80CWithin ₹1.5LIn the year of purchase only

These deductions are available only under the old tax regime. The new regime does not allow home loan interest/principal deductions for a self-occupied property.

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Save on interest

How to Reduce Your Home Loan EMI & Interest

  • Prepay lumpsums — bonuses or maturities cut the outstanding principal and either shrink the EMI or shorten the tenure.
  • Balance transfer — switch to a lower-rate lender if the rate gap outweighs the processing fee.
  • Prefer repo-linked (RLLR) loans — they pass on RBI rate cuts faster than MCLR-linked ones.
  • Choose the right tenure — a shorter tenure means a higher EMI but far less total interest.
  • Negotiate — after a good repayment record, ask your bank to reset your rate to the current card rate.
Prepay early, not late

Because early EMIs are interest-heavy, a prepayment in year 1–5 saves dramatically more interest than the same amount prepaid in year 15. Run both scenarios in the calculator above by lowering the loan amount to see the effect.

Sources
  1. Income tax rules & sections: incometax.gov.in
  2. Section 24(b) interest limit & Section 80C: Income-tax Act, 1961
  3. Repo-linked lending rate framework: rbi.org.in

Disclaimer: This guide is general information based on the law and notifications in force when it was last updated. It is not professional advice for your case — rates, thresholds and due dates change, so check the current position with the official source before you act on it.

People also ask

Home Loan EMI — Frequently Asked Questions

Short, direct answers to the 13 questions readers ask most on this topic.

EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P = principal loan amount, r = monthly interest rate (annual rate ÷ 12 ÷ 100) and n = tenure in months. Example: ₹50 lakh at 8.5% for 20 years (240 months) → r = 0.007083, EMI ≈ ₹43,391. Total repayment = ₹43,391 × 240 ≈ ₹1.04 crore, so total interest ≈ ₹54.1 lakh.

For a ₹30 lakh loan over 20 years: at 8% ≈ ₹25,093/month; at 8.5% ≈ ₹26,035; at 9% ≈ ₹26,992; at 9.5% ≈ ₹27,964. Stretching the tenure to 30 years at 8.5% drops the EMI to about ₹23,070 but raises total interest to roughly ₹53 lakh. Use the calculator above for any exact combination.

At 8.5% for 20 years, a ₹50 lakh home loan EMI is about ₹43,391/month with total interest near ₹54.1 lakh. At 8% it is ₹41,822 and at 9% it is ₹44,986. Over 30 years at 8.5% the EMI falls to about ₹38,446 but you pay far more total interest.

Yes — a longer tenure lowers the monthly EMI because the principal is spread over more months. However it increases the total interest paid substantially. For example, moving a ₹50 lakh loan at 8.5% from 20 to 30 years cuts the EMI by roughly ₹5,000/month but adds several lakh in total interest.

In the old regime, the interest portion of your EMI is deductible up to ₹2 lakh/year under Section 24(b) for a self-occupied house, and the principal portion up to ₹1.5 lakh/year under Section 80C. These benefits are not available in the new tax regime for a self-occupied property.

For a self-occupied property, no — the new regime does not allow the Section 24(b) interest deduction or the Section 80C principal deduction. For a let-out (rented) property, the interest can still be set off against rental income even in the new regime, subject to the loss set-off rules.

Each EMI is part interest (charged on the outstanding balance) and part principal. Early EMIs are interest-heavy while later ones are principal-heavy. The year-wise amortization table in the calculator shows this split, which you need to claim the correct Section 24(b) interest and Section 80C principal amounts each year.

Options include: prepaying lumpsums to cut the outstanding principal; transferring the balance to a lower-rate lender; choosing a repo-linked (RLLR) loan so rate cuts pass through faster; opting for a longer tenure (lower EMI but more interest); and negotiating a rate reset after a good repayment record.

Early. Because the interest component is highest in the initial years, a prepayment made in the first few years saves far more total interest than the same amount prepaid near the end of the tenure. Even small, regular prepayments early on materially cut your total interest.

Repo-linked (RLLR) loans reset with the RBI repo rate, so rate cuts reach you faster and the pricing is more transparent. MCLR-linked loans reset on the bank's own schedule and can lag. Most new floating-rate home loans are repo-linked; if yours is MCLR-based, a switch may be worthwhile.

Eligibility depends on income (EMI usually capped at 40–50% of net monthly income), existing EMIs (total FOIR ≤ 50%), property value (banks lend 75–90% of value as LTV) and credit score (750+ for the best rates). A rough rule of thumb is a loan of about 60× your net monthly salary.

Use your actual sanctioned rate. In FY 2025-26, home loan rates commonly range from about 8.0% to 9.5% depending on your credit profile, loan-to-value and lender. If you are only comparing, try 8.5% as a representative rate and adjust up or down.

It uses the standard reducing-balance method — the same one banks apply — and shows the first 10 years of the year-wise opening balance, principal paid, interest paid and closing balance. Your bank statement may differ by small amounts due to rounding, the disbursement date or rate resets during the year.