PropyMart's EMI Calculator computes your monthly home-loan instalment using the standard reducing-balance formula and overlays AI-powered insights on prepayment, tenure tuning and bank-wise rate comparison. Input your loan amount, interest rate and tenure to see EMI, total interest payable, total payout and a year-wise amortization snapshot — calibrated against current rates from SBI (8.5%), HDFC (8.7%), ICICI (8.75%), Axis (8.75%), Bank of Baroda (8.4%), PNB (8.45%), Kotak (8.85%) and LIC HFL (8.5%).
Home Loan EMI Calculator (with AI insights)
Reviewed by Nas, PropyMart AI · AI Property Advisor · Last updated 2026-10-31 · ★ 4.0 (1 ratings)
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How do I use the EMI Calculator?
- Enter loan amount, interest rate (%) and tenure in months
- See EMI, total interest, total payout and effective cost
- AI tips: prepayment impact, optimal tenure, rate-shopping advice
- Works for home loans, plot loans, top-up loans and balance transfers
- Compare against 8 leading Indian banks with live indicative rates
How to use this home loan EMI calculator
- Set your loan, not the home price. Enter the amount after your down payment, the annual rate and tenure in months.
- Look beyond the EMI. Compare total interest, the amortization chart and shorter tenures.
- Test a more resilient plan. Add a realistic prepayment, stress-test rates and keep a cash buffer.
- Take the next step. Share your plan, ask NAS AI, or browse homes within your assumed budget.
What a home loan looks like in real life.
Illustrative buyer situations, not customer stories. Assumed rates · Indicative · Oct 2026.
Pune · a first home, with room for life
A ₹40 lakh loan over 20 years. Compare the EMI with take-home pay after rent, other debt and an emergency buffer. At 8.5% p.a., total interest is ₹43,31,103; total repayment is ₹83,31,103. Fees excluded. monthly EMI · 240 months: ₹34,713
Kolkata · a shorter path to being debt-free
A ₹30 lakh loan over 15 years. A shorter tenure increases the monthly commitment but reduces total interest. At 8.7% p.a., total interest is ₹23,81,090; total repayment is ₹53,81,090. Fees excluded. monthly EMI · 180 months: ₹29,895
Bengaluru · two incomes, a longer runway
A ₹75 lakh loan over 25 years. Test the plan against one income and higher rates before committing. At 8.75% p.a., total interest is ₹1,09,98,232; total repayment is ₹1,84,98,232. Fees excluded. monthly EMI · 300 months: ₹61,661
How does the EMI Calculator compare to similar tools?
What did other people just calculate?
- Someone in Mumbaiscript just ran Loan ₹50,00,000 · 20 yr · 9% · 167 d ago
- Someone in Mumbai just ran Loan ₹50,00,000 · 20 yr · 9% · 167 d ago
What questions does the EMI Calculator answer?
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 ÷ 12 ÷ 100) and N is the tenure in months. Our calculator does this automatically and shows the breakdown.
What is the lowest home loan interest rate in India today?
As of 2026, Bank of Baroda starts from 8.4%, SBI and LIC HFL from 8.5%, HDFC from 8.7%, ICICI and Axis from 8.75%. Actual rate depends on your credit score, income profile and loan-to-value ratio.
Can I prepay my home loan without penalty?
Yes. RBI rules prohibit prepayment penalty on floating-rate home loans for individuals. Fixed-rate loans may still attract 2–4% of the prepaid amount as charges; check your sanction letter.
What tenure should I pick for my home loan?
Longer tenure means lower EMI but higher total interest. A 20-year loan typically pays ~1.4× the principal as interest; a 30-year loan pays ~2.1×. Pick the shortest tenure where the EMI stays under 40% of your take-home income.
Does the calculator include processing fee and GST?
No. EMI only covers principal + interest. Processing fees (0.25–1% of loan amount) and 18% GST on services are charged upfront and shown separately in your sanction letter.
How much home loan can I get on a ₹1 lakh monthly salary?
At 8.5% for 20 years and a 40% FOIR cap, ~₹46 lakh. Use our Affordability Calculator at /tools/affordability for a personalised number including existing EMIs and down payment.
What is a good credit score to get the best home loan rate?
A CIBIL score of 750+ usually unlocks the lowest published rate. 700–749 gets standard rates; below 700 you pay a 25–75 bps premium or face rejection.
Is part-prepayment better than reducing EMI or tenure?
Reducing tenure (keeping EMI constant) saves more interest because it cuts the compounding window. Reducing EMI helps cash flow but interest savings are smaller.
How does the prepayment simulator work?
The scheduled EMI stays unchanged. The one-time amount is paid after EMI 12 and the yearly amount after every 12th EMI, including month 12. Both reduce outstanding principal. We stop at repayment and compare interest and months with the original schedule. Lender rules and charges may change the result.
Does a rate rise always increase my EMI?
Not necessarily. A lender may change the EMI, extend the tenure, or offer a combination. This stress test holds the original tenure fixed and applies the higher rate from the beginning; it is a comparison, not a forecast of your lender's reset.
Is the property budget a loan eligibility check?
No. It assumes the loan covers 80% of the property price and you fund 20% yourself. Stamp duty, registration, furnishing and other expenses are extra. Lenders assess income, credit history, property value and their own loan-to-value limits.