Home Loan EMI Calculator
Calculate your home loan EMI with property value, down payment, and LTV ratio. Plan your dream home purchase with full amortization schedule.
Home Loan Details
₹
Total cost of the property%
= ₹10,00,000%
Annual interest rateyears
= 240 months%
One-time processing fee (% of loan)🏠
Enter home loan details to see your EMI
About Home Loan EMI Calculator
A home loan (also called housing loan or mortgage) is a secured loan provided by banks and NBFCs to purchase a residential property. The loan is repaid through Equated Monthly Installments (EMIs) over a period of 5 to 30 years.
Key Components
- Property Value — Total cost of the house/flat you want to buy
- Down Payment — Your upfront contribution (usually 10-20% of property value)
- Loan Amount — Property Value − Down Payment
- LTV (Loan-to-Value) — Loan Amount ÷ Property Value × 100 (max 80-90%)
- Processing Fee — One-time charge by lender (0.25% to 1% of loan)
Home Loan EMI Formula
EMI = [P × R × (1+R)^N] / [(1+R)^N − 1]
- P — Loan amount (Property Value − Down Payment)
- R — Monthly interest rate
- N — Tenure in months
Tips to Get Best Home Loan
- Compare interest rates from multiple banks before finalizing.
- Maintain a good credit score (750+) to get lower interest rates.
- Pay higher down payment to reduce loan amount and EMI burden.
- Consider shorter tenure if you can afford higher EMI — saves interest.
- Check for hidden charges: processing fee, prepayment penalty, legal fees.
- Claim tax deductions: ₹1.5L under 80C (principal) + ₹2L under 24(b) (interest).
Eligibility Criteria
- Age: 21-65 years
- Minimum monthly income: ₹25,000 (salaried), ₹3L annual (self-employed)
- FOIR (Fixed Obligation to Income Ratio): Usually 40-50%
- Credit Score: 750+ recommended
What this home loan calculator does
The MONEX MINT home loan calculator computes your monthly EMI, total interest payable and a complete amortisation schedule using the standard reducing-balance formula. It also models the LTV cap (the share of property value a bank will finance), processing fee impact, and how much interest a part-prepayment will save. Built for first-time and seasoned home buyers in India FY 2025-26 — use it to size the property you can afford, compare offers from SBI, HDFC, ICICI, LIC HFC and other major lenders, and time your prepayments for maximum interest savings.
How it's calculated
EMI = [P × R × (1+R)^N] / [(1+R)^N − 1] Loan amount = min(Property value × LTV cap, requested loan) Upfront cost = Down payment + Processing fee + Stamp duty + Registration
- P — Principal — the loan amount sanctioned
- R — Monthly rate = annual rate ÷ 12 ÷ 100 (typical 2026 rate 8.4-9.25%)
- N — Tenure in months (typically 240-360 for home loans)
- LTV — 90% up to ₹30L loan, 80% ₹30-75L, 75% above ₹75L (RBI norms)
Example: ₹1 Cr property at 80% LTV, 9% interest, 25 years
- Property value = ₹1,00,00,000 | LTV cap = 80% | Loan amount = ₹80,00,000
- Down payment = ₹20,00,000 (plus stamp duty and registration of ~₹5-7L)
- Monthly rate R = 9 ÷ 12 ÷ 100 = 0.0075 | Months N = 25 × 12 = 300
- EMI = [80,00,000 × 0.0075 × (1.0075)^300] / [(1.0075)^300 − 1] = ₹67,135
- Total payable over 25 years = ₹67,135 × 300 = ₹2,01,40,500
- Total interest = ₹2,01,40,500 − ₹80,00,000 = ₹1,21,40,500
- Processing fee at 0.5% = ₹40,000 + 18% GST = ₹47,200 (one-time)
Result: Monthly EMI: ₹67,135 | Total interest: ₹1,21,40,500 | Down payment + costs: ~₹25-27 lakh
Frequently asked questions
What is the maximum home loan I can get on my salary?
Banks usually sanction a home loan with EMI up to 50-60% of your net monthly take-home (FOIR limit), and the loan amount caps at 80-90% of the property value (LTV). For a ₹1,00,000 take-home salary at 8.5% over 25 years, the maximum loan works out to roughly ₹62-₹70 lakh, subject to property value and credit score. Existing EMIs are subtracted from your eligibility.
What is the LTV ratio for a home loan in India?
The Loan-to-Value (LTV) ratio is the share of the property value the bank will finance. RBI norms cap LTV at 90% for loans up to ₹30 lakh, 80% between ₹30 lakh and ₹75 lakh, and 75% above ₹75 lakh. So for a ₹1 crore property, the maximum bank loan is ₹75 lakh and you must arrange ₹25 lakh down payment from your own funds, plus stamp duty and registration separately.
What home loan tax benefits can I claim?
Under the old tax regime: principal repayment up to ₹1,50,000 under Section 80C; interest paid up to ₹2,00,000 per year on a self-occupied property under Section 24(b); first-time buyers can claim an additional ₹50,000 of interest under Section 80EE / 80EEA subject to property and loan limits. Joint borrowers can each claim the full limits separately. The new regime does not allow Section 24(b) on self-occupied property.
What is the typical processing fee on a home loan?
Most lenders charge a processing fee of 0.25% to 1.00% of the loan amount, often capped at ₹15,000 to ₹50,000 plus 18% GST. SBI, LIC HFC and HDFC routinely waive or reduce it during festive offers. Always negotiate — a 0.5 percentage point reduction in rate is far more valuable than a processing fee waiver, but both are negotiable and should be confirmed in the sanction letter.
Should I prepay my home loan or invest the money instead?
A simple rule: prepay if your post-tax home loan rate is higher than the post-tax return you can earn elsewhere. For a borrower in the 30% slab, a 9% home loan effectively costs 6.3% (after Section 24(b) benefits). If you can earn 10-12% in equity over the long term, investing wins. If you do not invest the surplus consistently, prepay — guaranteed savings beat hypothetical equity returns.
Can I switch from a higher rate to a lower rate (balance transfer)?
Yes. If your current rate is more than 50-75 basis points above market, a balance transfer to a new lender often makes sense. Floating-rate home loans have zero foreclosure penalty for individuals (RBI rule). Account for the new lender's processing fee (~0.5%), legal/valuation charges (₹5-10K) and the disruption — break-even usually arrives in 12-24 months for material savings.
Should I pick a 20-year or 30-year home loan tenure?
A longer tenure means lower EMI but much higher total interest. A ₹50L loan at 8.5%: 20-year EMI ₹43,391 (₹54L interest), 30-year EMI ₹38,446 (₹88L interest) — paying ₹34 lakh extra to save ₹5K/month. Pick the longest tenure your bank allows for affordability, then prepay aggressively whenever you have a windfall to cut tenure without committing to a high EMI.
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Rates and norms reflect RBI guidelines and typical lender pricing for FY 2025-26. Actual sanction is at the lender's discretion based on property valuation, CIBIL score, employment profile and existing obligations.