Calculate your monthly EMI, total interest and total outgo for a home loan, with the year-by-year outstanding balance.
Enter the sanctioned loan amount (not the property price), the annual interest rate shown in your sanction letter or Key Fact Statement, and the tenure in years. Add the processing fee including 18% GST and any flat legal or technical charges in the upfront charges box so the total outgo reflects what the loan really costs.
Formula. The EMI uses the standard reducing-balance formula used by Indian lenders: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the annual rate divided by 12 and by 100, and n is the number of monthly instalments.
Worked example (illustrative). A ₹50 lakh loan at 8.5% for 20 years (240 EMIs) gives an EMI of about ₹43,391. Over 240 months you pay about ₹1,04,13,879, of which about ₹54,13,879 is interest. With ₹29,500 of upfront charges (0.5% processing fee plus GST), total outgo is about ₹1,04,43,379. In the first year about ₹4,21,000 of your EMIs goes to interest and only about ₹99,500 reduces the principal, as the yearly balance table shows.
Limits. Floating rates are reset by the lender, so the EMI or tenure will change over the life of the loan; this calculator assumes one rate throughout. It does not include pre-EMI interest during construction, insurance premiums financed into the loan, or tax deductions. Your lender's figure may differ by a few rupees because of rounding and the day-count method. See the EMI calculation guide.
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