Kaizen Financial ServicesHome Loan EMI Calculator
Illustrative estimate only. Mutual funds are subject to market risks and returns are not guaranteed. Loan terms are decided by the lender.
How this calculator works
Worked example
A home loan of ₹30,00,000 at 8.5% a year for 20 years has an EMI of about ₹26,035. Over 240 instalments you repay about ₹62,48,327, which includes about ₹32,48,327 of interest.
Frequently asked questions
How is home loan EMI calculated?
EMI is calculated from the loan amount, the monthly interest rate and the number of monthly instalments, using a standard reducing-balance formula. Early EMIs are mostly interest and later EMIs are mostly principal, even though the EMI amount stays the same.
How can I reduce my home loan EMI or interest?
A longer tenure lowers the EMI but raises total interest. Making part-prepayments, choosing a lower rate, or adding an income-earning co-applicant can reduce the interest cost. Comparing several lenders also helps, which is what a loan distributor can do for you.
Does this calculator work for floating-rate loans?
It assumes a constant rate. Most home loans have floating rates that change when the lender's benchmark changes, so your actual EMI or tenure may change over time.
How much home loan can I get?
Eligibility depends on your income, existing EMIs, age, credit score and the property. Lenders generally keep total EMIs within 40% to 50% of income. Use the eligibility calculator on our calculators page for an estimate.