Home Loan EMI Calculator
Know your EMI before you visit the bank
What is a home loan EMI?
EMI stands for Equated Monthly Instalment. It is the fixed amount you pay your bank or lender every month until your home loan is fully repaid. Every EMI has two components:
- Principal — the portion that reduces your actual loan balance
- Interest — the charge the bank applies on the outstanding amount
In the early years of your loan, a larger share of your EMI goes toward interest. As the years pass, more of it goes toward repaying the principal. This is called an amortising loan structure, and it is standard across all Indian banks and housing finance companies.
How to Use This Calculator ?
Getting your EMI figure takes less than 10 seconds. Here is all you need to do:
- Enter the Loan Amount — This is the amount you plan to borrow, not the total property price. For example, if the property costs ₹80 lakh and you are paying ₹20 lakh as a down payment, your loan amount is ₹60 lakh.
- Enter the Interest Rate — Use the rate your bank has quoted you, or refer to the current rate table below if you are still comparing lenders.
- Select the Tenure — This is how many years you want to repay the loan. Most home loans in India go up to 20 or 30 years.
Your monthly EMI, total interest payable, and total repayment amount will appear instantly.
💰 EMI Calculator
Current Home Loan Interest Rates in India (April 2026)
| Lender | Interest Rate (p.a.) |
|---|---|
|
Bank of India / Bank of Maharashtra |
From 7.10% MoneyKarma |
|
HDFC Bank |
7.20% – 13.20% Paisabazaar |
|
SBI
|
From 7.25% Cleartax |
|
Bajaj Finserv (Salaried) |
From 7.15% Bajaj Finserv |
|
ICICI Bank |
7.65% – 9.80% Paisabazaar |
|
Axis Bank |
8.35% – 11.90% Paisabazaar |
|
LIC Housing Finance / PNB Housing |
Around 8.50% |
Also note: The RBI repo rate as of April 2026 is 5.25% (unchanged), meaning stable EMIs for floating-rate borrowers. Cleartax
Sample EMI Reference Table
| Loan Amount | Monthly EMI (approx.) |
|---|---|
|
₹20 Lakh |
₹17,356
|
|
₹30 Lakh |
₹26,035 |
|
₹40 Lakh |
₹34,713 |
|
₹50 Lakh |
₹43,391 |
|
₹60 Lakh |
₹52,069 |
|
₹75 Lakh |
₹65,087 |
|
₹1 Crore |
₹86,782 |
Calculated at 8.5% p.a. for 20-year tenure. Use the calculator above for your exact figures.
Factors That Affect Your Home Loan EMI
Your EMI is not just determined by the loan amount. Here are the key factors that influence what you pay every month:
Tips to Reduce Your Home Loan EMI
Frequently Asked Questions
What is the EMI for a ₹50 lakh home loan?
 At 8.5% interest for a 20-year tenure, the EMI works out to approximately ₹43,391 per month. Use the calculator above to check for different rates and tenures.
What is the maximum home loan tenure in India?
Most banks and housing finance companies offer home loans up to 30 years. However, the loan must typically be repaid before the borrower turns 70 years of age.
Does a higher down payment reduce EMI?
 Yes. Since the EMI is calculated on the loan amount borrowed, a larger down payment directly reduces the principal and therefore the monthly EMI.
Can I prepay my home loan without penalty?
 As per RBI guidelines, banks cannot charge prepayment penalties on floating rate home loans. For fixed rate loans, some lenders may charge a small fee. Always check your loan agreement
How does the RBI repo rate affect my EMI?
If you have a floating rate home loan, your interest rate is linked to your lender’s benchmark rate, which typically moves in line with the RBI repo rate. When the RBI cuts rates, your EMI or tenure reduces. When it raises rates, your cost goes up.
What is the ideal home loan tenure?
There is no single answer. A longer tenure (25–30 years) keeps your EMI manageable but costs more in interest. A shorter tenure (10–15 years) saves interest but requires a higher monthly commitment. Use the calculator to find the balance that fits your budget.
Ready to take the next step?
 Now that you know your EMI, explore the latest new launches in Pune that fit your budget — or read our market insights to understand where property prices are headed next.