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Home Loan EMI Calculator

Calculate your monthly home loan EMI in seconds. Adjust the loan amount, interest rate and tenure to see exactly what you'll pay each month — and how much interest you'll pay overall.

₹50.00 L
8.50%
20 years

Your monthly EMI

₹43,391

PrincipalInterest
Principal
₹50.00 L
Total interest
₹54.14 L
Total payable
₹1.04 Cr

Figures are indicative and for planning only. Your actual EMI depends on the interest rate, processing fees and terms offered by your lender.

How home loan EMI is calculated

Your EMI (Equated Monthly Instalment) is made up of two parts — repayment of the principal you borrowed and the interest the lender charges. It is calculated with this standard formula:

EMI = P × r × (1 + r)n ÷ [ (1 + r)n − 1 ]
  • P — the principal (loan amount you borrow)
  • r — monthly interest rate (annual rate ÷ 12 ÷ 100)
  • n — number of monthly instalments (tenure in years × 12)

In the early years of your loan, a larger share of every EMI goes towards interest. As the outstanding principal falls, more of each EMI repays the principal. This is why prepaying early saves the most interest.

How to lower your home loan EMI

Improve your CIBIL score

A score of 750+ typically unlocks the lowest interest rates. Even a 0.25% lower rate saves lakhs over a 20-year loan.

Choose the right tenure

A longer tenure reduces your monthly EMI but raises total interest. Balance affordability today against total cost.

Make part-prepayments

Prepaying early — even small amounts — directly cuts the principal and dramatically reduces total interest.

Compare and transfer

If another lender offers a materially lower rate, a balance transfer can reduce your EMI. Factor in processing fees.

Frequently asked questions

How is home loan EMI calculated?
Home loan EMI is calculated using the formula EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the principal loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the tenure in months. Our calculator applies this formula instantly as you change the amount, rate or tenure.
What is a good home loan interest rate in India in 2026?
Home loan interest rates in India typically range from about 8% to 9.5% per annum for salaried borrowers with a strong CIBIL score (750+). Your exact rate depends on your credit score, income stability, loan-to-value ratio, and the lender. A higher CIBIL score usually gets you a lower rate.
Does a longer tenure reduce my EMI?
Yes. A longer tenure lowers your monthly EMI because the principal is spread over more months, but it increases the total interest you pay over the life of the loan. A shorter tenure means a higher EMI but far less total interest.
How much home loan can I get on my salary?
Most lenders keep your total EMIs within 40–55% of your net monthly income (this is called FOIR). As a rough guide, you may be eligible for a home loan of roughly 55–65 times your net monthly salary, subject to your credit score, existing EMIs and age. Use our eligibility checker for a personalised estimate.
Can I reduce my home loan EMI later?
Yes — you can reduce your EMI by making part-prepayments (which lower the outstanding principal), by requesting a longer tenure, or by transferring your loan to a lender offering a lower interest rate (a balance transfer). Prepayment early in the tenure saves the most interest.
Is this EMI calculator free to use?
Yes, the GrihaNexus home loan EMI calculator is completely free, works instantly in your browser, and does not require any sign-up or sharing of personal details.

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