Home Loan EMI Calculator
Calculate monthly EMI, total interest, and amortization for your home loan.
Results
Monthly EMI
₹53,023
Loan amount
₹60.00 L
Total interest
₹67.25 L
Total payment
₹1.27 Cr
Processing fee
₹30.0K
Total cost of loan
₹1.28 Cr
Principal vs Interest (first 10 years)
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How is home loan EMI calculated in India?
Home loan EMI in India is calculated using the standard reducing balance formula. Your EMI depends on three factors: the loan amount (home price minus down payment), the annual interest rate, and the tenure. RBI guidelines require a minimum down payment of 10%–25% depending on the loan size — loans above ₹75 lakh require at least 25% down. Most Indian banks and housing finance companies use floating rates linked to the repo rate, which means your EMI can change when RBI revises rates.
For a ₹60 lakh home loan at 8.75% for 20 years, your monthly EMI works out to approximately ₹52,800. Over 20 years, you pay nearly ₹67 lakh in interest — more than the principal itself. This is why home loan prepayment in the early years is so powerful: every rupee paid extra in the first 5 years saves nearly 3x in future interest. Processing fees (typically 0.25%–1% of the loan) add to the total cost.
The amortization chart shows the first 10 years of your loan. Notice how the interest component dominates early payments — this is the reducing balance method at work. As your principal reduces over time, more of each EMI goes toward repayment. You can significantly reduce your tenure and interest burden with part-prepayments whenever you receive a bonus, tax refund, or inheritance.