Home Loan EMI Calculator — EMI, Total Interest & Prepayment Savings

A ₹60 lakh loan at 8.5% for 20 years costs ₹65 lakh in interest — more than the principal. The same loan with a modest extra payment each month ends years earlier and lakhs cheaper. This calculator shows your EMI, the true total cost, and exactly what prepayment saves — the number banks don't advertise.

🏠 EMI & Prepayment

Loan amount (₹)

Interest rate (% per year)

Tenure (years)

Extra payment per month (₹, optional)

Monthly EMI

Total interest

Total payment

EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), monthly rate r = annual ÷ 12. Floating-rate loans from banks have no prepayment penalty for individuals.

⚠️ Disclaimer: CalcSmart is not a tax, financial, legal or medical advisor. Calculators and content here are for general information only, compiled from publicly available rules and rates that change frequently. Always verify the accuracy and freshness of figures with official sources (e.g. incometax.gov.in, cbic.gov.in, your bank) or a qualified professional before acting on any result.

Home Loan EMI Table — ₹20 Lakh to ₹1 Crore (at 8.5%)

The table below shows the monthly EMI for common loan amounts at an 8.5% rate — close to SBI, HDFC and ICICI's current floating home-loan rates for salaried borrowers. Use it to size your EMI for a ₹30 lakh, ₹50 lakh or ₹1 crore home loan across different tenures, then run your exact figures in the calculator above.

Loan amount	10 years	15 years	20 years	25 years
₹20 lakh	₹24,797	₹19,695	₹17,356	₹16,105
₹30 lakh	₹37,196	₹29,542	₹26,035	₹24,157
₹40 lakh	₹49,594	₹39,390	₹34,713	₹32,209
₹50 lakh	₹61,993	₹49,237	₹43,391	₹40,261
₹75 lakh	₹92,989	₹73,855	₹65,087	₹60,392
₹1 crore	₹1,23,986	₹98,474	₹86,782	₹80,523

Over a 20-year tenure, total interest is substantial: a ₹30 lakh loan costs about ₹32.5 lakh in interest, a ₹50 lakh loan about ₹54.1 lakh, and a ₹1 crore loan about ₹1.08 crore. The headline rate matters — SBI, HDFC Bank and ICICI Bank repo-linked rates move with the RBI repo rate, so even a 0.25% difference changes your EMI. Always compare the effective rate, processing fee and reset terms, not just the advertised "starting" rate.

💡 Your EMI is only part of the cost of buying. Don't forget stamp duty and registration, which add 4–7% of the property value depending on your state, on top of the down payment.

What an EMI Is Made Of

Every EMI is part interest, part principal — but the mix changes over time. In year one of a 20-year loan at 8.5%, roughly 70% of each EMI is interest; by year 15 it flips. This is why prepaying early in the tenure is so powerful: every rupee of early prepayment kills 20 years of compounding interest on that rupee.

Prepayment: The Numbers Banks Don't Show

₹60L @ 8.5%, 20 yrs (EMI ₹52,069)	Tenure	Total interest	Saved
No prepayment	20 yrs	≈ ₹64.9L	—
+₹5,000/month extra	≈ 16.5 yrs	≈ ₹52L	≈ ₹13L
+₹10,000/month extra	≈ 14 yrs	≈ ₹43L	≈ ₹22L
One extra EMI per year	≈ 16.8 yrs	≈ ₹53L	≈ ₹12L

No penalty: RBI rules prohibit prepayment penalties on floating-rate loans to individuals — every Indian bank home loan qualifies.
Ask for tenure reduction, not EMI reduction, when you prepay a lump sum — it saves far more interest.
Tax angle (old regime): §24(b) gives up to ₹2L deduction on interest and §80C covers principal within ₹1.5L. Heavy prepayment reduces these deductions — usually still worth it, but run both regimes in our income tax calculator.

Planning to sell an existing property to fund your down payment? Check the capital gains tax on that sale first — the tax (and any Section 54 reinvestment exemption) can change how much cash you actually have for the new purchase.

Frequently Asked Questions

At 8.5% for 20 years: ₹43,391/month, with total interest of about ₹54.1 lakh. At 15 years the EMI rises to ₹49,237 but total interest drops to ₹38.6 lakh — shorter tenures cost more monthly but far less overall.

No — the RBI bars banks and NBFCs from charging prepayment penalties on floating-rate loans to individual borrowers, and nearly all Indian home loans are floating-rate. Fixed-rate loans may carry charges of about 2–3%.

Reduce tenure. Keeping the same EMI and shortening the loan saves several times more interest than lowering the monthly payment. Reduce the EMI only if you genuinely need monthly cash-flow relief.

A 30-year loan lowers the EMI (improving eligibility) but can double your total interest. If you can afford the 20-year EMI, take it — or take 30 years for safety and prepay aggressively, which mimics a shorter tenure with flexibility.

Old regime: up to ₹2 lakh/year deduction on interest (§24(b)) for self-occupied property, plus principal repayment within the ₹1.5 lakh §80C limit, plus stamp duty in the purchase year. New regime: none of these for self-occupied homes — which is why heavy-deduction borrowers should compare regimes before defaulting to the new one.