Enter your loan details and get your EMI instantly — plus smart insights on interest cost, prepayment savings, and whether the loan fits your salary.
| Bank | Rate (p.a.) | Monthly EMI | Total Interest | Total Payable | vs Cheapest |
|---|
| Period | Opening Balance | Principal Paid | Interest Paid | Closing Balance |
|---|
Your EMI has two components that change every month. In the early years, most of each payment goes toward interest. As the balance reduces, more goes toward principal. This is called amortization — and it is why prepaying in the first 5 years saves far more than prepaying later.
EMI = P × r × (1 + r)^n / ((1 + r)^n − 1)
P = Loan amount | r = Monthly interest rate (Annual % ÷ 12 ÷ 100) | n = Tenure in months
Example: ₹25L at 8.5% for 20 years gives r = 0.00708, n = 240, EMI ≈ ₹21,725/month. Total repayment ≈ ₹52.1L of which ₹27.1L is pure interest.
| Bank | Rate (p.a.) | EMI per ₹1 Lakh (20 yrs) |
|---|---|---|
| SBI Home Loan | 8.50% – 9.85% | ₹868 – ₹940 |
| HDFC Bank | 8.75% – 9.65% | ₹882 – ₹929 |
| ICICI Bank | 8.75% – 9.80% | ₹882 – ₹938 |
| Axis Bank | 8.75% – 9.10% | ₹882 – ₹902 |
| LIC HFL | 8.50% – 10.00% | ₹868 – ₹950 |
*Rates are indicative. Verify with your bank before applying.
| Loan Amount | Monthly EMI | Total Interest | Total Paid |
|---|---|---|---|
| ₹10 Lakh | ₹8,678 | ₹10.8L | ₹20.8L |
| ₹20 Lakh | ₹17,356 | ₹21.7L | ₹41.7L |
| ₹30 Lakh | ₹26,035 | ₹32.5L | ₹62.5L |
| ₹50 Lakh | ₹43,391 | ₹54.1L | ₹1.04 Cr |
| ₹1 Crore | ₹86,782 | ₹1.08 Cr | ₹2.08 Cr |
Use our Income Tax Calculator to see exactly how these deductions reduce your tax liability.