Loan calculator
What the house actually costs
The EMI is the number people compare. The total interest is the number that decides whether the loan was a good one.
Lenders normally fund up to 75–90% of the property value, so the down payment is rarely below 10–25%.
Your monthly EMI
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Indicative only, based on the assumptions below. Not an offer or a guarantee.
What this assumes
- A fixed rate for the whole term. Most Indian home loans are floating, so the EMI or the tenure will change when the rate does.
- No processing fee, insurance, stamp duty or registration — those are real and are paid outside the loan.
- No prepayment. Even small regular prepayments change these totals substantially — the loan interest recovery calculator on this site shows by how much.
The boring bit
The number nobody is shown
A home loan is sold on the EMI, because the EMI is what fits or does not fit in a monthly budget. But over a full term the interest is frequently close to the amount borrowed, and at longer tenures it exceeds it. That figure appears on no advertisement and rarely on a sanction letter.
Change the term on this page and watch the two numbers move in opposite directions. Twenty years to twenty-five lowers the EMI by a modest amount and raises the total interest by a large one. Whether that is a good trade depends entirely on whether the lower EMI is what makes the loan possible, or simply what was offered.
The lowest advertised rate is also not reliably the cheapest loan. Processing fees, insurance bundled into the sanction, and the terms on prepayment all move the real cost, and none of them appears in the headline rate. Ask for the total, in rupees, over the term you actually intend to run.
EMI = P × i × (1+i)^n ÷ [(1+i)^n − 1], where P = price − down payment, i = annual rate ÷ 12 and n = months
FAQ
Questions about this calculator
Should I take the longest term I can?
It lowers the EMI and raises the total interest, often enormously. A longer term is the right answer if the lower EMI is what makes the loan affordable at all, and the wrong one if it is simply what you were offered. Compare the interest row at twenty years and at thirty on this page before deciding.
How much down payment should I make?
Enough to get the loan approved comfortably, and rarely more than that if the money would otherwise be invested. A larger down payment is a guaranteed saving at the loan rate; investing the difference is an uncertain return at a higher one. Which wins depends on the gap between them and on how you sleep.
Fixed or floating?
Almost all Indian home loans are floating, and fixed offers are usually fixed for a limited period before reverting. What matters more than the label is the spread over the external benchmark and whether it can be renegotiated later.
Can I reduce the interest without prepaying?
Sometimes, yes — by asking your existing lender to reprice to their current spread, which costs a small fee and no paperwork, or by transferring the balance elsewhere. Both are worth checking every couple of years, and almost nobody does.
Turn the number into a plan
A calculator gets you to a figure. Getting there needs a product, and that is the part we do.