Home Loan EMI Calculator
See the monthly EMI on a home loan, the total interest over its tenure, and how the outstanding balance falls each year.
Year-wise repayment schedule
| Year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| 1 | ₹59,707 | ₹2,52,709 | ₹29,40,293 |
| 2 | ₹64,984 | ₹2,47,432 | ₹28,75,309 |
| 3 | ₹70,728 | ₹2,41,688 | ₹28,04,580 |
| 4 | ₹76,980 | ₹2,35,436 | ₹27,27,600 |
| 5 | ₹83,785 | ₹2,28,632 | ₹26,43,815 |
| 6 | ₹91,190 | ₹2,21,226 | ₹25,52,625 |
| 7 | ₹99,251 | ₹2,13,166 | ₹24,53,374 |
| 8 | ₹1,08,024 | ₹2,04,393 | ₹23,45,351 |
| 9 | ₹1,17,572 | ₹1,94,844 | ₹22,27,779 |
| 10 | ₹1,27,964 | ₹1,84,452 | ₹20,99,815 |
| 11 | ₹1,39,275 | ₹1,73,141 | ₹19,60,540 |
| 12 | ₹1,51,586 | ₹1,60,831 | ₹18,08,954 |
| 13 | ₹1,64,985 | ₹1,47,432 | ₹16,43,969 |
| 14 | ₹1,79,568 | ₹1,32,849 | ₹14,64,402 |
| 15 | ₹1,95,440 | ₹1,16,977 | ₹12,68,962 |
| 16 | ₹2,12,715 | ₹99,701 | ₹10,56,247 |
| 17 | ₹2,31,517 | ₹80,899 | ₹8,24,730 |
| 18 | ₹2,51,981 | ₹60,435 | ₹5,72,749 |
| 19 | ₹2,74,254 | ₹38,163 | ₹2,98,495 |
| 20 | ₹2,98,495 | ₹13,921 | ₹0 |
How to use the Home Loan EMI Calculator
Enter the home loan amount, the yearly interest rate your lender quotes and the tenure. The monthly EMI, the total interest and the total you will repay update as you type.
The year-by-year table shows how much of what you pay each year goes to principal and how much to interest, and what is still owed at the end of the year.
Frequently asked questions
How is EMI calculated?
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments.
Why is most of my early EMI interest?
Interest is charged on the balance still owed. At the start the balance is largest, so most of each EMI goes to interest; as the balance falls, more of each payment repays the principal.
Does a prepayment reduce my EMI or my tenure?
Either, depending on what you ask the lender for. Keeping the EMI and cutting the tenure usually saves more interest.
Is home loan interest tax deductible?
Under the old tax regime, interest on a loan for a self-occupied house is deductible up to ₹2 lakh a year under Section 24(b), and principal counts towards the ₹1.5 lakh limit of Section 80C. The new regime does not allow these for a self-occupied house.
Related tools
Every tool runs in your browser. Nothing you type or upload is sent to a server.