Loan Details
Enter loan details
Fill in your loan amount, rate, and tenure to see your EMI and interest breakdown.
- 20% Rule: Your total EMIs should not exceed 40% of your monthly take-home pay
- Prepay early: Even ₹5,000 extra/month can save lakhs in interest on a home loan
- Compare rates: A 0.5% lower interest rate on a ₹50L home loan saves ~₹5L over 20 years
- Tax benefit: Home loan principal (80C, ₹1.5L) + interest (24b, ₹2L) = up to ₹3.5L deduction
💡 How EMI Works
Fixed Monthly Payment
EMI = Principal + Interest combined into equal monthly payments. Early EMIs are interest-heavy; later ones pay more principal.
Interest Rate Impact
Even a 0.5% rate difference can save lakhs over a 20-year loan. Always compare rates across multiple lenders.
Prepayment Benefit
Paying extra when possible reduces total interest significantly. Even one extra EMI per year can cut years off your loan.
⚠️ Calculator Disclaimer: Results are mathematical estimates based on inputs you provide. Actual EMI, interest, and loan terms may differ based on lender policies, processing fees, prepayment charges, and changing interest rates. This tool is for educational purposes only — not a loan offer or financial advice. Consult your bank or a SEBI-registered advisor.
| Loan type | Rate basis | Rate type | Max LTV | Pre-payment | Regulator |
|---|---|---|---|---|---|
| Home Loan — Floating | Repo-linked (RLLR) | Variable | Up to 90% (below ₹30L) | Allowed, no charge (floating) | RBI |
| Home Loan — Fixed | Bank's MCLR | Fixed 1–5 yr | Up to 80% | Charge may apply | RBI |
| NRI Home Loan | RLLR / MCLR | Variable / Fixed | Up to 80% | FEMA repatriation rules apply | RBI / FEMA |
| Home Loan Balance Transfer | New bank RLLR | Variable | Existing balance | Check existing prepayment clause | RBI |
📌 What To Do Next
Now you know your EMI, consider whether to prepay or invest the surplus. Use the SIP calculator to compare potential investment returns against your loan interest rate. Always consult a qualified financial advisor before making any financial decisions.
Compare: Invest vs Prepay →