How much home loan EMI can I afford?

Lenders usually cap all EMIs at 40–55% of net monthly income. Use the loan eligibility calculator to see the maximum loan for your income.

Does the EMI change when RBI changes the repo rate?

For floating-rate loans, banks typically keep the EMI fixed and change the tenure. You can ask the bank to revise the EMI instead.

Is prepaying a home loan worth it?

Prepayment in the early years saves the most interest because the outstanding principal is highest. Floating-rate home loans to individuals have no prepayment penalty.

Home Loan EMI Calculator India

Enter your loan amount, interest rate and tenure to see the monthly EMI, how much goes to interest, and a year-by-year repayment schedule.

Monthly EMI

₹43,391

Principal amount: ₹50,00,000
Total interest: ₹54,13,879
Total repayment: ₹1,04,13,879

Principal vs interest

Principal₹50,00,000 (48%)
Interest₹54,13,879 (52%)

Year-wise repayment schedule (20 rows)

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

Next step in your property journey

Step 6 of 8: Plan prepayments to cut interest

Open Loan Prepayment →

How home loan emi is calculated

EMI (Equated Monthly Instalment) is a fixed payment that covers both interest and principal.
In early years most of the EMI is interest; the principal share grows over time.
A longer tenure lowers the EMI but increases total interest paid.

Formula

EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is principal, r is monthly rate (annual ÷ 12 ÷ 100) and n is tenure in months.

Worked example

A ₹50 lakh loan at 8.5% for 20 years: r = 0.007083, n = 240. EMI ≈ ₹43,391. Total interest ≈ ₹54.1 lakh.

Assumptions

Fixed interest rate for the full tenure.
EMIs paid monthly in arrears, no moratorium.
Processing fee is not financed into the loan.

Frequently asked questions

How much home loan EMI can I afford?: Lenders usually cap all EMIs at 40–55% of net monthly income. Use the loan eligibility calculator to see the maximum loan for your income.
Does the EMI change when RBI changes the repo rate?: For floating-rate loans, banks typically keep the EMI fixed and change the tenure. You can ask the bank to revise the EMI instead.
Is prepaying a home loan worth it?: Prepayment in the early years saves the most interest because the outstanding principal is highest. Floating-rate home loans to individuals have no prepayment penalty.

Last reviewed 2026-10-31. Results are estimates for information only and do not constitute financial, tax or legal advice.