Home Loan
Calculate EMI and total cost for a home loan.
When you buy a home, you typically pay a portion upfront (the down payment) and borrow the rest from a bank as a home loan, which you repay through an EMI (Equated Monthly Installment) — a fixed monthly payment covering both principal and interest. This calculator shows your monthly EMI and the total amount you'll pay over the life of the loan. You can also optionally add a recurring extra monthly payment and any number of one-time extra payments — whenever a bonus or windfall lets you pay a bit more — to see how much interest and time you could save by prepaying. All rates here are reducing-balance (diminishing) rates — interest is charged each month only on what you still owe, which is how banks quote home, car and personal loans. If a dealer or lender quotes a "flat rate", it is NOT the same thing and is usually much more expensive than it looks — use the Flat vs Reducing Rate converter to compare.
Your inputs
One-time payments whenever you have spare cash — a bonus, a windfall. Add as many as you like.
Your result
No prepayment set yet — add a monthly prepayment or a one-off extra payment to see the saving.
| Year | Opening | EMI | Interest | Principal | Total paid | Closing |
|---|---|---|---|---|---|---|
| Year 1· 12 mo | ₹64L | ₹6.7L | ₹5.4L | ₹1.3L | ₹6.7L | ₹62.7L |
| Year 2· 12 mo | ₹62.7L | ₹6.7L | ₹5.3L | ₹1.4L | ₹6.7L | ₹61.3L |
| Year 3· 12 mo | ₹61.3L | ₹6.7L | ₹5.2L | ₹1.5L | ₹6.7L | ₹59.8L |
| Year 4· 12 mo | ₹59.8L | ₹6.7L | ₹5L | ₹1.6L | ₹6.7L | ₹58.2L |
| Year 5· 12 mo | ₹58.2L | ₹6.7L | ₹4.9L | ₹1.8L | ₹6.7L | ₹56.4L |
| Year 6· 12 mo | ₹56.4L | ₹6.7L | ₹4.7L | ₹1.9L | ₹6.7L | ₹54.5L |
| Year 7· 12 mo | ₹54.5L | ₹6.7L | ₹4.5L | ₹2.1L | ₹6.7L | ₹52.3L |
| Year 8· 12 mo | ₹52.3L | ₹6.7L | ₹4.4L | ₹2.3L | ₹6.7L | ₹50L |
| Year 9· 12 mo | ₹50L | ₹6.7L | ₹4.2L | ₹2.5L | ₹6.7L | ₹47.5L |
| Year 10· 12 mo | ₹47.5L | ₹6.7L | ₹3.9L | ₹2.7L | ₹6.7L | ₹44.8L |
| Year 11· 12 mo | ₹44.8L | ₹6.7L | ₹3.7L | ₹3L | ₹6.7L | ₹41.8L |
| Year 12· 12 mo | ₹41.8L | ₹6.7L | ₹3.4L | ₹3.2L | ₹6.7L | ₹38.6L |
| Year 13· 12 mo | ₹38.6L | ₹6.7L | ₹3.1L | ₹3.5L | ₹6.7L | ₹35.1L |
| Year 14· 12 mo | ₹35.1L | ₹6.7L | ₹2.8L | ₹3.8L | ₹6.7L | ₹31.2L |
| Year 15· 12 mo | ₹31.2L | ₹6.7L | ₹2.5L | ₹4.2L | ₹6.7L | ₹27.1L |
| Year 16· 12 mo | ₹27.1L | ₹6.7L | ₹2.1L | ₹4.5L | ₹6.7L | ₹22.5L |
| Year 17· 12 mo | ₹22.5L | ₹6.7L | ₹1.7L | ₹4.9L | ₹6.7L | ₹17.6L |
| Year 18· 12 mo | ₹17.6L | ₹6.7L | ₹1.3L | ₹5.4L | ₹6.7L | ₹12.2L |
| Year 19· 12 mo | ₹12.2L | ₹6.7L | ₹81,414 | ₹5.9L | ₹6.7L | ₹6.4L |
| Year 20· 12 mo | ₹6.4L | ₹6.7L | ₹29,698 | ₹6.4L | ₹6.7L | ₹0 |
| Total | — | ₹1.33 Cr | ₹69.3L | ₹64L | ₹1.33 Cr | ₹0 |
Interest is charged each month on the outstanding balance (reducing-balance) and attracts no GST. The PDF is generated on your device; nothing is uploaded.
Risk note · Indicative only. Your actual EMI, fees, prepayment terms and any charges are set by your lender's sanction letter and can differ from these assumptions (e.g. floating rates reset, fees vary by lender and scheme). Interest on bank loans carries no GST; lender fees and charges do.
Disclaimer · finkit is an educational tool, not financial, tax or legal advice. Every result is a projection from the numbers you entered and the assumptions stated on the page — it is not a forecast, a quote, or an offer. Check decisions with a SEBI-registered adviser, your lender, or a tax professional.