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Home Loan EMI Calculator
Outstanding Principal Over Time
Yearly Amortization Schedule
| Year | Opening Balance (₹) | Principal Paid (₹) | Interest Paid (₹) | Closing Balance (₹) |
|---|---|---|---|---|
| 1 | 29,45,464.08 | 59,706.91 | 2,52,709.49 | 29,40,293.09 |
| 2 | 28,80,936.69 | 64,984.46 | 2,47,431.94 | 28,75,308.63 |
| 3 | 28,10,705.66 | 70,728.5 | 2,41,687.9 | 28,04,580.13 |
| 4 | 27,34,266.85 | 76,980.25 | 2,35,436.15 | 27,27,599.88 |
| 5 | 26,51,071.55 | 83,784.61 | 2,28,631.79 | 26,43,815.27 |
| 6 | 25,60,522.53 | 91,190.4 | 2,21,226 | 25,52,624.87 |
| 7 | 24,61,969.81 | 99,250.81 | 2,13,165.59 | 24,53,374.06 |
| 8 | 23,54,705.92 | 1,08,023.68 | 2,04,392.72 | 23,45,350.38 |
| 9 | 22,37,960.88 | 1,17,571.99 | 1,94,844.41 | 22,27,778.4 |
| 10 | 21,10,896.63 | 1,27,964.28 | 1,84,452.12 | 20,99,814.12 |
| 11 | 19,72,601.07 | 1,39,275.16 | 1,73,141.24 | 19,60,538.96 |
| 12 | 18,22,081.43 | 1,51,585.82 | 1,60,830.58 | 18,08,953.14 |
| 13 | 16,58,257.23 | 1,64,984.62 | 1,47,431.78 | 16,43,968.52 |
| 14 | 14,79,952.46 | 1,79,567.76 | 1,32,848.64 | 14,64,400.76 |
| 15 | 12,85,887.17 | 1,95,439.92 | 1,16,976.48 | 12,68,960.84 |
| 16 | 10,74,668.27 | 2,12,715.03 | 99,701.37 | 10,56,245.8 |
| 17 | 8,44,779.54 | 2,31,517.11 | 80,899.29 | 8,24,728.7 |
| 18 | 5,94,570.74 | 2,51,981.11 | 60,435.29 | 5,72,747.58 |
| 19 | 3,22,245.75 | 2,74,253.95 | 38,162.45 | 2,98,493.63 |
| 20 | 25,849.72 | 2,98,495.51 | 13,920.89 | 0 |
How Home Loan EMI Works?
EMI (Equated Monthly Installment) is the fixed payment you make every month to repay your home loan. It consists of both principal and interest components. This calculator helps prospective homebuyers estimate affordability, compare lender offers, and plan a repayment tenure that fits their monthly budget.
- In the initial years, the interest component is higher, and the principal component is lower.
- As you keep paying EMIs, the principal component increases, and the interest component decreases.
EMI Formula Used
EMI = [P × R × (1 + R)N] / [(1 + R)N − 1]
The charts and table above help you visualize your repayment journey, showing how much you pay towards interest and principal each year.
Home Loan EMI Calculator FAQs
How is home loan EMI calculated in India?
Home loan EMI is calculated using the formula 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 tenure in months. Most Indian home loans use a reducing-balance method like this.
What is a typical home loan interest rate in India?
Home loan interest rates in India typically range from about 8% to 11% per annum, depending on the lender, loan amount, your credit score, and whether the rate is fixed or linked to an external benchmark like the repo rate.
How much home loan EMI can I afford?
As a general guideline, lenders prefer your total EMI obligations (including existing loans) to not exceed 40-50% of your monthly take-home income. Use this calculator with different loan amounts and tenures to find an EMI that comfortably fits your budget.
Does increasing the loan tenure always save money?
No, a longer tenure reduces your monthly EMI but increases the total interest paid over the life of the loan, since you carry a larger outstanding balance for longer. A shorter tenure means higher EMIs but significantly lower total interest cost.
What tax benefits are available on home loan EMI payments?
Under the old tax regime, you can claim a deduction of up to ₹1.5 lakh on principal repayment under Section 80C, and up to ₹2 lakh on interest paid under Section 24(b) for a self-occupied property, subject to eligibility conditions.
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