How is EMI calculated for an India home loan?

EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r is the monthly interest rate (annual rate divided by 12 and by 100), and n is the number of monthly installments (tenure in years times 12).

Does this include processing fees or insurance?

No. This calculator computes the pure EMI on the principal and interest rate you enter. Processing fees, insurance premiums, and other charges are set by individual lenders and are not included.

Is the interest rate fixed or floating?

The calculator assumes a fixed rate for the full tenure. Most India home loans use floating rates that change with the lender's benchmark rate (like repo-linked rates), so your actual EMI may vary over time.

What is the difference between EMI and total repayment?

EMI is your fixed monthly payment. Total repayment is the EMI multiplied by the number of months, which equals the original loan amount plus total interest paid.

How does a longer tenure affect the loan?

A longer tenure lowers the monthly EMI but increases the total interest paid over the life of the loan, since interest accrues for more months.

India Mortgage Calculator

Name: India Mortgage Calculator
Availability: InStock
Author: Nham Vu

Enter your loan amount, interest rate, and tenure to get your monthly EMI, total interest, and total repayment for an India home loan.

Loan Details

Loan Amount (INR)

Rs.

Annual Interest Rate (%)

Loan Tenure (Years)

Results

Monthly EMI

Rs. 0

Total Interest

Rs. 0

Total Repayment

Rs. 0

Principal: 50% Interest: 50%

EMI is calculated on a reducing-balance basis and assumes a fixed interest rate for the full tenure. It does not include processing fees, insurance, or other lender charges.

Summary

Enter your loan amount, interest rate, and tenure to get your monthly EMI, total interest, and total repayment for an India home loan.

How it works

Enter the loan (principal) amount in rupees.
Enter the annual interest rate offered by your lender.
Enter the loan tenure in years.
The EMI, total interest, and total repayment update instantly.
Adjust any value to see how it changes your monthly payment.

Use cases

Compare EMI across different interest rate offers before choosing a lender.
Check how a shorter or longer tenure changes your monthly outgo.
Estimate total interest cost over the life of a home loan.
Plan a household budget around a fixed monthly EMI.
Sanity-check the EMI quoted by a bank or housing finance company.
See the effect of a larger down payment by lowering the loan amount.

Frequently Asked Questions

Last updated: 2026-07-23 · Reviewed by Nham Vu