Home loan EMI calculator
Work out the monthly payment, the total interest and the full amortisation schedule before you commit.
Loan Details
Monthly EMI
₹43,391
Total Interest
₹54.14 L
Total Payment
₹1.04 Cr
Payment Breakdown
Principal
₹50.00 L (48%)
Interest
₹54.14 L (52%)
Amortization Schedule
Showing 12 of 240 months| Month | EMI (₹) | Principal (₹) | Interest (₹) | Balance (₹) |
|---|---|---|---|---|
| 1 | 43,391 | 7,974 | 35,417 | 49,92,026 |
| 2 | 43,391 | 8,031 | 35,360 | 49,83,995 |
| 3 | 43,391 | 8,088 | 35,303 | 49,75,907 |
| 4 | 43,391 | 8,145 | 35,246 | 49,67,762 |
| 5 | 43,391 | 8,203 | 35,188 | 49,59,559 |
| 6 | 43,391 | 8,261 | 35,130 | 49,51,298 |
| 7 | 43,391 | 8,319 | 35,072 | 49,42,978 |
| 8 | 43,391 | 8,378 | 35,013 | 49,34,600 |
| 9 | 43,391 | 8,438 | 34,953 | 49,26,162 |
| 10 | 43,391 | 8,498 | 34,894 | 49,17,665 |
| 11 | 43,391 | 8,558 | 34,833 | 49,09,107 |
| 12 | 43,391 | 8,618 | 34,773 | 49,00,489 |
Principal vs Interest Over Time
Compare Banks at a Glance
Current Home Loan Interest Rates (2024-2025)
Compare home loan rates across major Indian banks
| Bank | Interest Rate | Processing Fee | Max Tenure | EMI per ₹1L |
|---|---|---|---|---|
| State Bank of India (SBI) | 8.40% | 0.35% | 30 yrs | ₹862 |
| HDFC Bank | 8.70% | 0.50% | 30 yrs | ₹881 |
| ICICI Bank | 8.75% | 0.50% | 30 yrs | ₹884 |
| Axis Bank | 8.75% | 1.00% | 30 yrs | ₹884 |
| Punjab National Bank | 8.45% | 0.35% | 30 yrs | ₹865 |
| Kotak Mahindra Bank | 8.85% | 0.50% | 20 yrs | ₹890 |
| Bank of Baroda | 8.40% | 0.25% | 30 yrs | ₹862 |
| Canara Bank | 8.45% | 0.50% | 30 yrs | ₹865 |
Tips to Save on Your Home Loan
Smart strategies to reduce your interest burden
Negotiate the Interest Rate
Compare rates across at least 5 banks. Use competing offers as leverage. Even 0.1% lower rate can save lakhs over the loan tenure.
Choose the Right Tenure
A shorter tenure means higher EMI but much less total interest. A 15-year loan saves up to 40% interest compared to a 30-year loan.
Make Prepayments Regularly
Even small annual prepayments can reduce your loan tenure significantly. RBI rules allow prepayment without penalty on floating rate loans.
Opt for Step-Up EMI
If your income is expected to grow, opt for a step-up EMI plan. Start with lower EMIs and increase annually as your salary grows.
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