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ToolBoxGenie

Home Loan Calculator

Calculators · Added 14 August 2026

Enter what you are borrowing, the rate and the term, and this calculator returns the monthly payment along with the full amortisation schedule — viewable month by month or year by year. The month view is the one worth looking at: it shows how little of an early instalment actually reduces what you owe.

The amount borrowed, after your down payment.

%

Annual rate quoted by the lender.

yrs

How to use the home loan calculator

  1. 1Enter the loan amount — what you are borrowing after the down payment, not the property price.
  2. 2Enter the annual interest rate the lender is quoting.
  3. 3Set the tenure in years. Decimals work for part-years.
  4. 4Press Calculate to see the EMI, the total interest and the total repayment.
  5. 5Switch the schedule between yearly and monthly. Look at instalment one in the monthly view — the split between interest and principal is the single most useful number on the page.

Examples

A typical twenty-year home loan

Input
₹50,00,000 at 8.5% for 20 years
Result
EMI ₹43,391 · total interest ₹54,13,879 · total repayment ₹1,04,13,879

The interest exceeds the amount borrowed. On a long loan at this rate that is normal, not a mistake.

The same loan over fifteen years

Input
₹50,00,000 at 8.5% for 15 years
Result
EMI ₹49,237 · total interest ₹38,62,656

₹5,846 more each month saves ₹15,51,223 in interest. Tenure is the most powerful lever on this page.

Where the first instalment goes

Input
₹50,00,000 at 8.5% for 20 years, instalment one
Result
₹35,417 interest and just ₹7,974 principal

Only 18.4% of the first payment reduces the debt. This is what the monthly schedule is for.

About the home loan calculator

Reading an amortisation schedule properly

An amortisation schedule is the loan's whole life written out: for every instalment, how much is interest, how much reduces the debt, and what is left. It is the most informative document in a mortgage and the one borrowers see least often.

The shape is always the same. Early instalments are dominated by interest because the balance is large. As the balance falls the interest portion shrinks and the principal portion grows, slowly at first and then quickly. On a twenty-year loan at typical rates, roughly the first seven years are spent barely denting the principal, and the last five demolish it.

That shape has a direct practical consequence: prepayments made early are worth far more than the same amount later, because they remove principal that would otherwise have accrued interest for the entire remaining term. A lump sum in year two and the same sum in year fifteen are not remotely equivalent, even though the amount is identical.

What the total repayment figure is telling you

Seeing that a ₹50 lakh loan will cost over a crore is a shock the first time, and it is worth understanding rather than flinching from. The interest is the price of having the money now instead of in twenty years, and on a home that price is often worth paying — rent is not free either, and the alternative to a mortgage is usually not buying outright but continuing to rent while saving.

What the figure should change is how you think about the variables. A one percentage point difference in rate on this loan is worth several lakh over the term, which makes rate shopping and, later, refinancing genuinely valuable rather than a marginal optimisation. The same is true of tenure, and of any prepayment you can make in the first half of the term.

It should also frame the down payment. Every rupee of down payment is a rupee that never accrues interest for twenty years. Weighed against what that rupee might have earned invested instead, the comparison is closer than it looks — but it is a real comparison to make, not an obvious one either way.

Frequently asked questions

Why is so much of my early EMI interest?
Because interest is charged on the outstanding balance, which is at its largest at the start. The EMI is fixed, so whatever is left after the month's interest goes to principal — very little early on, progressively more later. On a twenty-year loan the crossover, where principal finally exceeds interest within a single instalment, comes surprisingly late.
Does this handle a floating rate?
No, and no calculator honestly can. Most Indian home loans are floating, repriced against an external benchmark, so the rate and therefore the schedule will change over the term. This models a fixed rate, which is the right way to compare offers at a point in time and the wrong way to predict twenty years of payments. Re-run it whenever your rate resets.
Should I choose a longer or shorter tenure?
A longer tenure lowers the EMI and raises the total interest, often dramatically — the examples above show ₹15 lakh of difference across five years. The right answer depends on cash flow: an EMI you cannot reliably pay is worse than one that costs more overall. A common middle path is to take the longer tenure for safety and prepay when you can, which the prepayment calculator on this site models.
What is not included in these figures?
Processing fees, legal and valuation charges, stamp duty and registration, property insurance and any prepayment charges. Nor is the tax deduction available on home loan interest and principal, which reduces the effective cost for some borrowers. This is the loan arithmetic alone.

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