Home Loan EMI Calculator – Calculate Monthly EMI & Interest
Home Loan EMI Calculator
Get your home loan EMI, check the LTV limit for your property, and estimate the first-year tax saving.
Calculate Your Home Loan EMI
Enter the property value and down payment. Results update as you type.
A home loan EMI calculator works on the same principle as a loan EMI calculator or car loan EMI calculator: it gives you the monthly payment you owe your lender. Enter the loan amount, interest rate and tenure and it shows your monthly amount payable. It's the same as an emi calculator for home loan planning, or what some people search for as a home loan calculator emi tool. Home loans run longer and larger than most other loans, so how much you can borrow and what you can claim back at tax time matter more here than elsewhere.
For how the EMI formula itself works, see our full Loan EMI Calculator. The math is identical; only the inputs above reflect how home loans actually get sanctioned.
Here's what a few real home loan scenarios look like
| Loan Amount | Interest Rate | Tenure | Monthly EMI | Total Interest | Total Payment |
|---|---|---|---|---|---|
| ₹30,00,000 | 8.5% | 20 years | ₹26,035 | ₹32,48,327 | ₹62,48,327 |
| ₹50,00,000 | 8% | 25 years | ₹38,591 | ₹65,77,243 | ₹1,15,77,243 |
| ₹75,00,000 | 8.75% | 20 years | ₹66,278 | ₹84,06,793 | ₹1,59,06,793 |
| ₹1,00,00,000 | 9% | 30 years | ₹80,462 | ₹1,89,66,414 | ₹2,89,66,414 |
How Much Can You Actually Borrow? (LTV Limits)
Banks can't lend you the full value of a property. RBI sets a Loan-to-Value (LTV) ratio that tells you how much of the property's price the bank can finance. The more expensive the property, the smaller that percentage gets:
| Property Value | Maximum LTV | You Must Arrange |
|---|---|---|
| Up to ₹30 lakh | 90% | 10% down payment |
| ₹30-75 lakh | 80% | 20% down payment |
| Above ₹75 lakh | 75% | 25% down payment |
This is why a bigger home purchase needs proportionally more of your own money upfront. It's not just about affording the EMI, it's about qualifying for the loan amount in the first place. The calculator above checks your down payment against these limits when the currency is INR.
Home Loan Tax Benefits: Old vs. New Regime
This is the section most calculators skip, and it genuinely changes your numbers. Home loan tax benefits are only available under the Old Tax Regime. Under the New Tax Regime (the default since FY 2024-25), you cannot claim these deductions for a self-occupied property at all.
Under the Old Regime, for a self-occupied home:
| Section | Max Deduction | On What | What It Actually Covers |
|---|---|---|---|
| Section 24(b) | ₹2,00,000/year | Interest paid | Most borrowers hit this cap easily in the early years, when interest is highest |
| Section 80C | ₹1,50,000/year | Principal repaid | Combined limit with your other 80C investments (PF, ELSS, insurance, etc.) |
| Section 80EEA | ₹1,50,000/year | Additional interest | First-time buyers only, subject to eligibility conditions |
| Combined maximum | Up to ₹5,00,000/year | — | If you qualify for all three |
Here's what that means in rupees. Say you have a ₹75,00,000 loan at 8.75%. In the first year, the interest you pay is already more than ₹2 lakh, so you can claim the full Section 24(b) limit. Add the ₹1.5 lakh you can claim under 80C for principal repaid. That's ₹3.5 lakh deducted from your taxable income. In the 30% tax bracket, that saves you about ₹1,05,000 in actual tax that year, not counting 80EEA.
This only works on the Old Tax Regime. On the New Regime, you can't claim any of this for a self-occupied home, so your EMI doesn't come with these tax savings. The one exception: if the property is rented out (not self-occupied), the interest deduction still applies under both regimes.
What's a Pre-EMI?
If you're buying an under-construction property, most lenders disburse the loan in stages as construction progresses. Until the loan is fully disbursed, you pay pre-EMI: interest-only payments on the amount disbursed so far, not the full EMI. Your full EMI (principal + interest) only starts once the complete loan amount has been disbursed, typically at possession.
Can You Prepay a Home Loan Without Penalty?
Since January 1, 2026, individual borrowers using the property for personal (non-business) use can prepay or foreclose a home loan without penalty, regardless of whether it's fixed or floating rate. Floating-rate home loans for individual borrowers already had this protection from an earlier RBI rule; the January 2026 update extended zero-penalty prepayment to fixed-rate home loans too. If your loan was sanctioned before this date, check your loan agreement for the applicable terms.
Frequently Asked Questions
Can both spouses claim tax benefits on the same home loan?
Yes, if the loan is a joint home loan and both are co-owners of the property, each can separately claim deductions under Section 24(b) and Section 80C, up to their individual limits, on the old tax regime. This effectively doubles the household's total deduction ceiling.
Does a longer tenure always mean I pay more interest?
Yes. A longer tenure lowers your monthly EMI but increases the total interest paid over the loan's life, since interest accrues for longer on the outstanding balance.
Can I switch my home loan to another bank for a lower rate?
Yes, this is called a balance transfer. It can lower your EMI or tenure if the new rate is meaningfully lower, but factor in processing fees and any remaining prepayment terms on your current loan before switching.
What happens if construction is delayed on my under-construction property?
You continue paying pre-EMI (interest-only) until the loan is fully disbursed. A significant delay means paying pre-EMI for longer before your full EMI and principal repayment even begin.
Should I choose the old or new tax regime if I have a home loan?
It depends on your total deductions and income level. If your home loan interest and principal deductions, combined with other Section 80C investments, add up to more than what the new regime's lower slab rates would save you, the old regime is usually better. Run both scenarios before deciding.
This shows you the interest math. Exact rates, eligibility and final terms depend on your lender and your credit profile.