The biggest EMI of your life
A home loan is the largest, longest debt most salaried Indians ever take — 15 to 30 years of a single monthly commitment. The arithmetic deserves respect: ₹50 lakh at 8.5% for 20 years is an EMI of ₹43,391, and the interest over those 240 months adds up to about ₹54.1 lakh — more than the loan itself. This page runs the same engine as our general EMI calculator, tuned to home-loan numbers, with the amortization schedule and prepayment planner that matter most at this scale.
What banks will actually lend
The approved amount depends on the property, your income and obligations, the lender and applicable lending rules. This calculator does not assess eligibility or calculate a down payment. Obtain a written quotation covering the interest rate, reset terms, fees and upfront costs. Compare the resulting EMI with your take-home pay and other expenses, and test a higher-rate scenario if the rate can change.
The tax angle (old regime)
Eligible home-loan deductions depend on your tax regime, the property and the applicable tax year. The EMI estimate does not calculate these benefits. Check the Income Tax Department references below and use the income-tax calculator to compare regimes with the deductions you are eligible to claim.
Prepayment: the quiet fortune
Extra repayments reduce the outstanding principal and can reduce interest or tenure. The schedule lets you compare those effects at the rate entered. It excludes prepayment and transfer charges, future rate changes and lender-specific processing rules. Confirm the conditions for your loan and compare any costs with the projected saving before deciding.