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Home Loan EMI Calculator

A ₹80,00,000 home loan at 8.5% over 20 years costs about ₹69,484 a month (EMI). Floating-rate home loans in India carry no prepayment penalty for individual borrowers.

Standard model
Monthly payment
₹55,541
Principal and interest
≈ · European Central Bank rate, 2026-09-14
Total interest
₹69,29,765
Total paid
₹1,33,29,765
Paid off
September 2046

Prefilled with the Reserve Bank of India — WALR on fresh rupee loans for housing of 8.50%, 2026-06-01. Your quoted rate depends on credit score, down payment, loan type and location.

₹
₹20%
A bigger deposit usually gets you a better rate.
%
Term
Optional. Affects your total monthly cost, not the loan itself.
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Where your money goes
Cumulative payments over the life of the loan
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Your payment is fixed so the loan reaches exactly zero at the end of the term. That amount is called an annuity payment:

M = P × [ i(1+i)^n ] / [ (1+i)^n − 1 ]

  P  loan principal (home price minus deposit)
  n  total payments (term in years × payments per year)
  i  periodic interest rate

Periodic rate: The annual rate divided by payments per year. For monthly payments: i = r / 12.

Early payments are mostly interest because interest accrues on a larger balance. As the balance falls, each payment retires more principal. The chart above shows exactly where that crossover happens for your loan.

Full methodology with worked examples

This page prefills 8.50% from the Reserve Bank of India — WALR on fresh rupee loans for housing, published 2026-06-01.

This is a reference average, not a personal offer. Your lender's rate depends on your credit score, deposit size, and loan type. The rate you are actually quoted may be meaningfully higher or lower.

The rate field is editable. Type your lender's quoted rate to see your own numbers.

Prepayment is where the money is

Floating-rate home loans in India carry no prepayment penalty for individual borrowers. A single annual lump sum in the early years removes far more interest than the same amount later.

How your payment is worked out

Your payment is fixed so the loan reaches zero at the end of the term. Early payments are mostly interest because interest is charged on a bigger balance. As the balance falls, more of each payment goes to principal. The chart above shows exactly where that flips for your loan.

What this doesn't include

This is principal and interest only unless you fill in the optional fields. Your actual monthly cost will also include property tax, homeowners insurance, and private mortgage insurance if your down payment is under 20%. All three vary by state and lender.

Why our number may differ from your bank's

Usually one of three things: your bank is bundling tax and insurance into the figure, it's adding its own fees, or it's using a different compounding convention. Ours is published on the methodology page, with worked examples you can check.

Frequently asked questions

Is this free?

Yes. No account, no email, no quote request. The site is supported by advertising.

How accurate is it?

The maths is exact for the figures you enter. We test every formula against worked examples published by the relevant central bank or regulator, and those tests are on the methodology page. What we can't know is your lender's specific fees, so treat the result as principal and interest unless you've filled in the optional fields.

Where do the interest rates come from?

Each country page prefills a reference rate from an official source (a central bank or national statistics body) and shows the source and publication date next to the field. These are averages, not offers.

Why is this different from my bank's calculator?

Usually the bank is including tax and insurance, adding its own fees, or using a different compounding convention. Ours is documented on the methodology page.

Can I use this for a property in another country?

Yes. Choose the country the property is in, not where you live. The mortgage follows the property's rules and currency.

Can I put this calculator on my own site?

Yes, free. The embed code is at the bottom of every country page and includes a link back to us.

Add this calculator to your site

Free to use. The embed is under 40KB, carries no ads and no tracking, and inherits your page's background. The code includes a link back to this page.

Written and maintained by the Reckoner team

The repayment engines behind this site are tested against worked examples published by FRED, the Bank of Canada, the Bank of England and the Reserve Bank of Australia. Found an error? Contact us

Last reviewed September 15, 2026