Mortgage Calculator
Home loan EMI, interest, and amortization.
Inputs
This calculator is for general information only and isn't financial advice. Rates, tax rules, and your actual eligibility depend on your specific situation — check with your bank or a qualified advisor before acting on it.
Formula
EMI = P × r × (1 + r)^n / ((1 + r)^n − 1)
P is the home loan principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the tenure in months. The calculator also builds a year-by-year amortization table showing how much of each year's payments go to principal versus interest.
Worked example
A ₹50,00,000 home loan at 8.5% over 20 years (240 months) gives an EMI of about ₹43,391 — roughly ₹10.4 lakh in total payments, of which ₹54 lakh is interest alone. That interest exceeds the principal, which is why shortening tenure or making part-prepayments matters more than chasing a slightly lower rate on a 20-year mortgage.
Where this can give the wrong answer
- A 0% rate is accepted and falls back to principal ÷ tenure, the same straight-line split the EMI calculator uses — useful for subsidised staff loans, not a division-by-zero bug.
- Property tax, home insurance, and maintenance aren't in the EMI; banks sometimes bundle insurance into the disbursed amount, which inflates P without changing the rate you think you negotiated.
- The year-by-year table assumes a fixed rate for the full tenure — floating home loans in India reset whenever the repo-linked benchmark moves, so re-run with the revised rate after each reset.
FAQ
- The maths is identical — both use the standard amortising-loan EMI formula. This page is framed for home buyers: the defaults assume a longer tenure and larger principal, and the year-by-year table helps you see how slowly equity builds in the early years.