Home loan EMI calculator
Calculate your EMI
Enter your loan amount, interest rate and tenure — results update as you type.
Your EMI
- Monthly EMI₹0
- Total interest payable₹0
- Total repayment (principal + interest)₹0
- Tenure reduced by0
- Interest saved₹0
How much interest you actually pay
On a typical 20-year home loan, total interest paid can equal or exceed the amount borrowed — the chart below shows why: EMIs in the early years are mostly interest, and only shift toward paying down principal in the second half of the tenure. This is simple compound interest working against you the longer the loan runs, which is exactly why even a small prepayment made early saves disproportionately more than the same amount paid later.
Principal vs interest, year by year
What prepayment saves you
Making a one-time extra payment reduces your outstanding principal immediately, and — if you keep paying the same EMI — shortens your loan tenure rather than just lowering future EMIs. Because interest is front-loaded, a prepayment made in the early years of a long-tenure loan saves far more in total interest than the same amount paid later. Enter an amount above to see the effect on your own loan.
How EMI is 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. This formula keeps the EMI fixed for the entire tenure while the split between principal and interest within each instalment shifts over time — more interest early, more principal later — even though the payment itself never changes.
Plot loan vs construction loan
A plot loan (to buy land) typically carries a slightly higher interest rate than a home loan and is usually disbursed as a single lump sum. A construction loan is disbursed in stages as the build progresses — plinth, roof, finishing — with EMI (or interest-only payments) starting on the amount already disbursed, not the full sanctioned amount. If you're financing both the land and the build, ask your lender whether a combined plot-plus-construction loan is available; it's often simpler than managing two separate loans with two different schedules.
Frequently asked questions
How do I calculate my home loan EMI?
EMI = P × r × (1+r)ⁿ ÷ [(1+r)ⁿ − 1], where P is the loan amount, r is the monthly interest rate, and n is the number of months. Use the calculator above to skip the arithmetic — enter your loan amount, rate and tenure.
How much total interest will I pay on a 20-year home loan?
It depends heavily on the interest rate, but on a long tenure like 20 years, total interest can equal or exceed the principal borrowed — enter your own figures above to see the exact amount for your loan.
Does prepayment reduce my EMI or my tenure?
That depends on what you choose with your lender — most banks let you keep the same EMI and shorten the tenure (which saves more total interest), or keep the same tenure and lower the EMI. This calculator assumes you keep the EMI the same and shows the tenure reduction.
Is it better to prepay early or later in the loan?
Earlier. Because interest is front-loaded in an EMI schedule, the same prepayment amount saves more total interest and more tenure when made in the first few years than if made closer to the end of the loan.
What's the difference between a plot loan and a construction loan?
A plot loan finances buying land and is usually disbursed as one lump sum. A construction loan finances building on land you already own and is disbursed in stages as construction progresses, with interest starting only on the amount already released.
Does a higher down payment reduce my EMI?
Yes — a higher down payment means a smaller loan principal, which directly reduces both your EMI and total interest paid, since both are calculated on the borrowed amount, not the property's full value.
Know your EMI — now see what it buys
Match your EMI budget to a real flat
Once you know what you can repay monthly, the next question is which flat fits — 2 BHK from 1,100 sq ft, 3 BHK from 1,400 sq ft, all under construction in Tirupati.