Home loan EMI calculator with amortization schedule

What the loan costs each month, what it costs in total, and how much of every instalment is interest rather than repayment.

The loan

₹

What the bank lends — the price less your down payment.

% a year

A floating rate changes over the term; this holds it steady throughout.

years

Paying it down faster

₹

Paid on top of the EMI. Leave at zero to see the loan as sanctioned.

₹

A bonus, say — applied on every twelfth instalment.

Monthly instalment₹43,39120 years to clear, ending Sep 2046.
  • Principal ₹50 L
  • Interest ₹54.14 L
Total interest
₹54.14 L

52% of everything you repay.

Total repaid
₹1.04 Cr

Principal and interest, over the whole term.

For every ₹100 borrowed
₹108

Paid in interest over the term.

Repayment schedule

PeriodInterestPrincipal repaidBalance

The instalment is the small number

An EMI is easy to agree to; the total is not. A ₹50 lakh loan at 8.5% over twenty years costs about ₹43,400 a month — and around ₹54 lakh in interest, more than the amount borrowed. That second figure is the one worth sitting with, and it is why the schedule below the result matters more than the instalment above it.

How a loan actually unwinds

Interest is charged each month on what you still owe. Early on that balance is nearly the whole loan, so nearly the whole instalment is interest and the debt barely moves. Only in the later years does the principal share take over. Open any year in the schedule to see the split on each instalment.

Why prepaying early is worth so much

A rupee repaid early removes not just itself but the interest it would have carried every remaining month. Paying a modest amount extra each month, or a bonus once a year, can take years off a twenty-year loan. Ask for it to shorten the tenure rather than to lower the instalment — the saving is far larger, and the shorter option is not usually the default.

What this does not model

  • A floating rate. The rate is held steady; most Indian home loans move with the repo benchmark.
  • Disbursement in stages, as an under-construction purchase is usually funded, with pre-EMI interest before the full loan is drawn.
  • Processing fees, insurance sold alongside the loan, and prepayment charges where a lender levies them.

For the one-time side of the purchase — stamp duty, registration, GST and the charges below the headline price — use the stamp duty & buying cost calculator. To check what the promoter filed about the project itself, start from the project records.

Questions about home loan EMIs and prepayment

How is an EMI calculated?

EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan amount, r is the annual interest rate divided by twelve and by a hundred, and n is the tenure in months. The instalment stays the same each month; what changes is how much of it is interest.

What is an amortization schedule?

The month-by-month record of where each instalment goes: how much is interest on the balance still owed, how much actually reduces that balance, and what is left after it. It is the part of a loan a bank rarely shows you up front.

Why is almost all of my early EMI interest?

Interest is charged on the balance outstanding, which is at its largest at the start. On a twenty-year loan the early instalments are mostly interest and the balance barely moves. The split flips only in the second half of the term.

Does prepaying a home loan actually save money?

Yes, and more than people expect, because a rupee paid early removes the interest it would have carried on every remaining month. The saving is largest in the early years, when the balance — and so the interest on it — is highest.

Should a prepayment reduce my tenure or my EMI?

Reducing the tenure saves considerably more interest, because the balance clears sooner. Reducing the EMI keeps the same end date and only lowers the monthly outgo. Banks often apply the second by default, so say which one you want.

Does this account for a floating rate?

No. It holds the rate steady for the whole term. Most Indian home loans float against a repo-linked benchmark, so the real schedule will move as the rate does — re-run it at your new rate whenever it changes.

Every figure above is worked out from the numbers you entered. Nothing on this page comes from the RERA register, and the starting values are common ones, not a quote. Rates, charges and duties change — check yours before you act on any of this. Rates and ranges on this page last checked .