Home Loan EMI Calculator (India)
Monthly EMI, total interest, and a full year-by-year amortization schedule.
Home Loan Parameters
Home Loan Breakdown
Yearly Amortization Schedule
| Year | Principal Paid | Interest Paid | Total Payment | Balance Remaining |
|---|
How the home loan EMI is worked out
An EMI is a single fixed payment that covers both interest on the outstanding balance and a slice of the principal. Because the balance falls a little each month, the interest portion shrinks and the principal portion grows — even though the payment itself never changes. That shift is what the amortization schedule above makes visible.
The consequence is worth understanding before you sign. On a ₹50 lakh loan at 8.5% over 20 years, total interest comes to roughly the same as the amount borrowed: you repay about twice what you took. Drop the tenure to 15 years and the EMI rises by about a fifth, but total interest falls by roughly a third. Tenure, not rate, is usually the lever with the most give in it.
Change any input above and every figure — including the full schedule — recalculates instantly. Nothing you type leaves your browser.
Frequently asked questions
How is home loan EMI calculated?
EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1), where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the tenure in months. The same formula is used by every bank, so the figure here matches a lender quote for the same three inputs.
Why does total interest exceed the principal on long tenures?
Interest is charged on the outstanding balance, which falls slowly in the early years. On a 20-year loan at 8.5%, roughly half of everything you pay is interest. Shortening the tenure cuts total interest sharply while raising the monthly EMI.
What is an amortization schedule?
It is the year-by-year split of your payments into principal and interest, with the balance remaining at the end of each year. Early years are interest-heavy; the principal portion grows as the balance shrinks.
Does prepayment reduce EMI or tenure?
Most lenders keep the EMI fixed and shorten the tenure, which saves the most interest. Some allow reducing the EMI instead. This calculator models the original schedule, so recalculate with the reduced balance after a prepayment.
Is my loan data sent anywhere?
No. Every figure is computed in your browser with JavaScript. Nothing is uploaded, stored, or logged.