Planning a home loan? Use this calculator to see your monthly EMI, total interest, and complete amortization schedule before you apply. Enter the loan amount, the rate you have been quoted, and your preferred tenure.
Home loans are secured loans — the property serves as collateral. They typically carry longer tenures and are linked to an external benchmark rate, so your EMI or tenure may adjust when the benchmark changes.
A home loan is a secured loan taken to purchase, construct, or renovate residential property. Because the loan is secured, home loans typically carry lower rates than unsecured loans and are available for longer tenures. Most home loans in India are floating rate, linked to an external benchmark.
Interest forms a larger share of early EMIs. Prepaying early in the tenure has a disproportionately large impact on total interest savings.
Requirements vary. Confirm directly with the lender before applying.
Home loan EMI uses the reducing balance formula: EMI = P × r × (1+r)ⁿ / [(1+r)ⁿ − 1]. Enter the loan amount, the rate you are offered, and your tenure in the calculator above for an instant result.
Prepaying reduces your outstanding principal and future interest. The earlier in the tenure you prepay, the larger the impact — because interest forms a larger share of early EMIs.
A shorter tenure means higher monthly EMI but significantly less total interest. A longer tenure reduces monthly outflow but increases total cost. Use the calculator with both tenures to compare before deciding.
LTV (Loan-to-Value) is the percentage of the property value the lender finances. The remaining amount is your down payment. RBI regulates maximum LTV ratios — confirm the applicable LTV directly with the lender.
Interest rates, processing fees, and all other lender details change frequently and without notice. DigiCalc does not display, guarantee, or endorse any rates, fees, or terms from any lender. Always verify current figures directly with the lender before making any financial decision.
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Calculator outputs are estimates based on user-provided inputs and standard mathematical formulas. Actual results may vary significantly.
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