Compute home-loan EMI, total interest and year-by-year outstanding balance. Model different tenures and rates in seconds.
You will pay ₹43,391 every month for 240 months. Total interest cost: ₹54,13,879 (108.28% of principal).
| Year | Principal Paid | Interest Paid | Balance |
|---|---|---|---|
| 1 | ₹99,511 | ₹4,21,182 | ₹49,00,489 |
| 2 | ₹1,08,307 | ₹4,12,387 | ₹47,92,181 |
| 3 | ₹1,17,881 | ₹4,02,813 | ₹46,74,300 |
| 4 | ₹1,28,300 | ₹3,92,394 | ₹45,46,000 |
| 5 | ₹1,39,641 | ₹3,81,053 | ₹44,06,359 |
| 6 | ₹1,51,984 | ₹3,68,710 | ₹42,54,375 |
| 7 | ₹1,65,418 | ₹3,55,276 | ₹40,88,957 |
| 8 | ₹1,80,039 | ₹3,40,655 | ₹39,08,918 |
| 9 | ₹1,95,953 | ₹3,24,741 | ₹37,12,965 |
| 10 | ₹2,13,274 | ₹3,07,420 | ₹34,99,691 |
| 11 | ₹2,32,125 | ₹2,88,569 | ₹32,67,566 |
| 12 | ₹2,52,643 | ₹2,68,051 | ₹30,14,923 |
| 13 | ₹2,74,974 | ₹2,45,720 | ₹27,39,949 |
| 14 | ₹2,99,279 | ₹2,21,415 | ₹24,40,670 |
| 15 | ₹3,25,733 | ₹1,94,961 | ₹21,14,937 |
| 16 | ₹3,54,525 | ₹1,66,169 | ₹17,60,412 |
| 17 | ₹3,85,862 | ₹1,34,832 | ₹13,74,550 |
| 18 | ₹4,19,968 | ₹1,00,726 | ₹9,54,582 |
| 19 | ₹4,57,090 | ₹63,604 | ₹4,97,492 |
| 20 | ₹4,97,492 | ₹23,202 | ₹0 |
A home loan is the single largest financial commitment most Indian families make — commonly ₹30 lakh to ₹2 crore, over 15 to 30 years, from HDFC, SBI, ICICI, Axis or an HFC like LIC HFL or Bajaj Housing. Rates today are almost universally floating and linked to the RBI Repo Rate (RLLR). Even a 25 bps drop compounds into ₹1–2 lakh of savings on a ₹50 lakh loan. This calculator returns the EMI, total interest, amortization and the tax benefit under Sections 24(b) and 80C.
Under Section 24(b), interest paid on a self-occupied home loan is deductible up to ₹2 lakh per year (old regime); under Section 80C, principal repayment is deductible up to ₹1.5 lakh (combined with other 80C items). First-time buyers may claim an additional ₹50k–1.5L under Sections 80EE / 80EEA subject to conditions. Model the after-tax EMI cost using this calculator alongside our Income Tax calculator.
Prepayments early in the loan tenure save disproportionate interest because EMIs are interest-heavy at the start. Even one extra EMI per year cuts a 20-year loan by ~4 years.
Buying a ₹1 Cr flat with 25% down and a joint home loan.
| Section | Deduction | Cap | Condition |
|---|---|---|---|
| 24(b) | Interest — self-occupied | ₹2,00,000/yr | Loan sanctioned, construction complete <5 yrs |
| 24(b) | Interest — let-out | No cap (loss capped ₹2L) | Actual interest paid |
| 80C | Principal repayment | ₹1,50,000/yr | Property not sold within 5 yrs |
| 80EE | First-time buyer (top-up) | ₹50,000/yr | Loan ≤₹35L, property ≤₹50L |
| 80EEA | Affordable housing | ₹1,50,000/yr | Stamp value ≤₹45L, loan FY19–22 |
Choosing 30-year tenure to reduce EMI — you pay 2× the principal in interest.
Not opting for MODT insurance separately (bundled loading raises effective rate).
Ignoring bank switch/BT — a 50 bps drop after 3 years is worth ₹4–6 L on ₹50 L loan.
Missing Section 24 claim for pre-EMI interest — claimable in 5 equal instalments post-possession.
Need a CA to review your numbers? Book a free consult — we'll double-check within 24 hours.
Ask for RLLR (repo-linked) — faster rate transmission both ways.
Split the loan 50:50 with spouse — both claim ₹2L (24) + ₹1.5L (80C).
Use bonus / annual RSU as an annual prepayment on 1 April.
Keep an emergency fund of 6 EMIs — never miss due to cash-flow shocks.
EMI is computed using the standard reducing-balance formula: EMI = P × r × (1+r)^N / ((1+r)^N − 1), where P is the principal, r the monthly interest rate and N the tenure in months.
No. Processing fees, insurance, GST on fees and stamp duty are excluded and vary per lender. Add them separately to arrive at the true cost of the loan.
Yes. Any principal prepayment reduces the outstanding balance and therefore future interest. Prepaying earlier in the tenure saves the most interest.
EMI is computed using the standard reducing-balance formula: EMI = P × r × (1+r)^N / ((1+r)^N − 1), where P is the principal, r the monthly interest rate and N the tenure in months.
via Home Loan CalculatorEMI is computed using the standard reducing-balance formula: EMI = P × r × (1+r)^N / ((1+r)^N − 1), where P is the principal, r the monthly interest rate and N the tenure in months.
via EMI CalculatorNo. Processing fees, insurance, GST on fees and stamp duty are excluded and vary per lender. Add them separately to arrive at the true cost of the loan.
via EMI CalculatorEMI is computed using the standard reducing-balance formula: EMI = P × r × (1+r)^N / ((1+r)^N − 1), where P is the principal, r the monthly interest rate and N the tenure in months.
via Personal Loan CalculatorNo. Processing fees, insurance, GST on fees and stamp duty are excluded and vary per lender. Add them separately to arrive at the true cost of the loan.
via Personal Loan CalculatorThis dataset is free to reference in articles, research and reports. Attribution to Taxpex Consultancy is all we ask. Data last verified 31 July 2026.
Taxpex Consultancy. (2026). Home Loan Calculator — Taxpex. Retrieved from https://taxpex.com/tools/loans-emi/home-loan-calculator<a href="https://taxpex.com/tools/loans-emi/home-loan-calculator">Home Loan Calculator — Taxpex</a> — Taxpex Consultancy