Calculate your home loan monthly payment, total interest, full amortization schedule and see exactly how your loan is paid off over time.
| Year | Principal Paid | Interest Paid | Total Paid | Outstanding Balance |
|---|
A Mortgage Calculator (also called a Home Loan EMI Calculator in India) is a free online tool that helps home buyers estimate their monthly mortgage payment based on the property value, down payment, interest rate, and loan tenure. It also shows the complete amortization schedule — how much of each payment goes toward principal repayment vs interest — over the entire loan period.
A mortgage or home loan is a secured loan where your property acts as collateral. In India, home loans are offered by banks, NBFCs, and housing finance companies. As of 2025, home loan interest rates range from approximately 8.0% to 10.5% per annum depending on the lender, borrower's credit score, loan-to-value (LTV) ratio, and property type. The Reserve Bank of India (RBI) regulates home lending through its repo rate and LTV norms.
| Loan Amount | Rate (p.a.) | Tenure | Monthly EMI | Total Interest | Total Paid |
|---|---|---|---|---|---|
| ₹30,00,000 | 8.5% | 10 Years | ₹37,194 | ₹14,63,303 | ₹44,63,303 |
| ₹50,00,000 | 8.75% | 15 Years | ₹49,790 | ₹39,62,200 | ₹89,62,200 |
| ₹80,00,000 | 9% | 20 Years | ₹71,971 | ₹92,73,040 | ₹1,72,73,040 |
| ₹1,20,00,000 | 9.25% | 25 Years | ₹1,02,897 | ₹1,86,91,100 | ₹3,06,91,100 |
The Ponderal Index assesses whether body mass is proportionate to height. Similarly, the "Mortgage Health Index" measures if your home loan is proportionate to your income. Key ratios: your monthly EMI should not exceed 40–45% of your net monthly take-home salary. The loan amount should ideally be less than 4–5 times your annual income. The Loan-to-Value (LTV) ratio should be at or below 80% for healthy mortgage exposure (most banks cap it at 75–80% anyway).
Step 1: Enter the total property value. Step 2: Enter your down payment amount (minimum 20% recommended; banks typically require at least 10–25%). Step 3: Enter the annual interest rate from your bank's offer letter. Step 4: Select your loan tenure — longer tenure means lower EMI but more total interest. Step 5: Optionally add annual property tax and home insurance for a complete monthly cost picture. Step 6: Click "Calculate Mortgage" to see your EMI, full amortization schedule, and year-wise balance.
Home loans come with significant tax benefits: Section 24(b) allows deduction of up to ₹2 lakh per year on home loan interest for a self-occupied property. Section 80C allows deduction of up to ₹1.5 lakh per year on principal repayment as part of the overall 80C limit. First-time home buyers may also claim additional benefits under Section 80EEA (affordable housing). These deductions are available only under the Old Tax Regime and can substantially reduce your effective cost of borrowing.
This calculator uses a fixed interest rate assumption. Floating rate home loans (linked to RBI repo rate or bank's MCLR/EBLR) will have rates that change periodically, altering your actual EMI. Processing fees (0.25–1% of loan), prepayment charges (nil for floating rate loans), stamp duty, registration charges, and GST on under-construction properties are not included. The calculator does not factor in EMI holidays or balance transfer benefits. Always obtain a formal loan offer letter from your bank before finalizing your purchase.
Fixed Rate: EMI stays constant throughout the loan tenure, offering predictability. Slightly higher initial rate (typically 0.5–1% more than floating). Ideal when interest rates are expected to rise. Floating Rate: EMI changes when RBI adjusts repo rate or when bank reprices your loan. Currently more common in India. Historically cheaper over the long run. Most experts recommend floating rates for long-tenure home loans (15+ years) due to their lower cost over time and the regulatory requirement that banks pass on rate cuts to borrowers.