A home loan is the biggest financial commitment most people make. Enter the property price, your down payment, interest rate and tenure to see your monthly EMI, the total interest, and what the house really costs.
Example: A ₹40,00,000 loan at 8.5% for 20 years gives an EMI of about ₹34,713 — total interest ≈ ₹43,31,000, nearly as much as the loan itself.
Monthly EMI on a ₹1,00,000 home loan. Multiply for your loan size (e.g. a ₹40 lakh loan = EMI below × 40).
| Interest Rate | 15 Years | 20 Years | 30 Years |
|---|---|---|---|
| 8.0% | ₹956 | ₹836 | ₹734 |
| 8.5% | ₹985 | ₹868 | ₹769 |
| 9.0% | ₹1,014 | ₹900 | ₹805 |
| 9.5% | ₹1,044 | ₹932 | ₹841 |
| 10.0% | ₹1,075 | ₹965 | ₹878 |
Stretching from 20 to 30 years lowers the EMI but adds a huge amount of interest. Always check the total, not just the monthly figure.
Under the old tax regime, a home loan gives two separate deductions:
| Section | What it covers | Maximum per year |
|---|---|---|
| Section 80C | Principal repaid | ₹1,50,000 |
| Section 24(b) | Interest paid (self-occupied) | ₹2,00,000 |
These deductions apply under the old regime. The new regime removes most of them, so compare both before filing. Rules change — confirm current limits with a tax advisor.
Most lenders approve 75%–90% of the property value, and cap the EMI at roughly 40%–50% of your monthly income after existing EMIs.
Usually 10%–25% of the property price. A larger down payment means a smaller loan, a lower EMI and much less interest over the years.
Floating rates move with the market and are usually lower to start. Fixed rates cost more but give certainty. Most Indian home loans are floating.
Only if you need the breathing room. A 30-year loan has a comfortable EMI but the total interest can exceed the loan amount itself. Shorter is far cheaper.
Yes. For floating-rate loans to individuals, lenders generally cannot charge a prepayment penalty. Fixed-rate loans may carry a charge — check your agreement.
Moving your outstanding loan to another lender offering a lower rate. It can save a lot over a long tenure, but factor in processing and legal fees before switching.
Yes. A co-applicant's income raises your eligibility, and both borrowers can claim tax deductions separately if both are owners and both repay.
A pause on repayments, sometimes offered during construction or hardship. Interest usually keeps accruing during the pause, so the total cost rises.
This calculator is for estimates only. Actual EMI, fees, rates and tax benefits depend on your lender and profile. For financial decisions, confirm figures with your bank or a tax advisor.