Home Loan EMI Calculator
Calculate home loan EMI with full amortization schedule. Compare rates across 15+ banks. Includes prepayment savings, tax benefits under 80C, 24(b), and 80EEA.
See how much interest you save with monthly prepayments.
Compare across banks
| Bank | Rate | EMI |
|---|---|---|
| State Bank of India | 8.5% | ₹43.4K |
| HDFC Bank | 8.7% | ₹44.0K |
| ICICI Bank | 8.75% | ₹44.2K |
| Axis Bank | 8.75% | ₹44.2K |
| Kotak Mahindra Bank | 8.7% | ₹44.0K |
| Punjab National Bank | 8.45% | ₹43.2K |
| Bank of Baroda | 8.4% | ₹43.1K |
| Canara Bank | 8.4% | ₹43.1K |
Rates are indicative starting rates. Final rate depends on your CIBIL, income, and bank policy. Click any bank for a dedicated calculator.
Principal vs Interest
Year-wise breakdown
Home loan EMI formula
EMI = P × r × (1+r)n / ((1+r)n − 1)
Where P = loan principal, r = monthly interest rate (annual rate ÷ 12 ÷ 100), n = total months.
Example: ₹50L loan at 8.5% for 20 years → r = 0.00708, n = 240, EMI ≈ ₹43,391/month. Total interest paid ≈ ₹54.13L over 20 years.
Tax benefits: Up to ₹2L deduction on interest under Section 24(b), ₹1.5L on principal under 80C, and additional ₹1.5L for first-time buyers under 80EEA (subject to conditions).
Frequently asked questions
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