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Home loan calculator

Start from the price of the home, then see how paying a little extra each month shortens the loan.

₹
%

Banks usually lend up to 75% to 90% of the value, depending on the loan size.

%
years
₹

Paid on top of the EMI, all of it against principal.

Monthly EMI

₹52,069

Loan amount
₹60,00,000
Total interest
₹64,96,655
Total repaid
₹1,24,96,655
  • Principal₹60,00,00048%
  • Interest₹64,96,65552%
Paid in each year PrincipalInterest
₹0₹2 L₹4 L₹6 L₹8 L2468101214161820

Repayment schedule

YearPrincipalInterestBalance left
1₹1,19,414₹5,05,419₹58,80,586
2₹1,29,969₹4,94,864₹57,50,617
3₹1,41,457₹4,83,376₹56,09,161
4₹1,53,960₹4,70,872₹54,55,200
5₹1,67,569₹4,57,264₹52,87,631
6₹1,82,381₹4,42,452₹51,05,250
7₹1,98,501₹4,26,331₹49,06,749
8₹2,16,047₹4,08,786₹46,90,702
9₹2,35,144₹3,89,689₹44,55,558
10₹2,55,928₹3,68,904₹41,99,629
11₹2,78,550₹3,46,283₹39,21,079
12₹3,03,171₹3,21,661₹36,17,908
13₹3,29,969₹2,94,864₹32,87,939
14₹3,59,135₹2,65,697₹29,28,803
15₹3,90,880₹2,33,953₹25,37,924
16₹4,25,430₹1,99,403₹21,12,494
17₹4,63,034₹1,61,799₹16,49,460
18₹5,03,962₹1,20,871₹11,45,498
19₹5,48,508₹76,325₹5,96,991
20₹5,96,991₹27,842₹0

How it's worked out

The loan is the price less your down payment. Any extra you enter is paid on top of the EMI, entirely against principal, so interest falls in every month after it. That is why early prepayments save the most.

The formulaEMI = P × i × (1 + i)ⁿ ÷ ((1 + i)ⁿ − 1). Each month, interest = balance × i, and the rest of what you pay reduces the balance.

Common questions

Do banks charge for prepaying?

RBI rules bar prepayment charges on floating-rate home loans to individuals. Fixed-rate loans may carry a charge, so check your agreement.

What else should I budget for?

Stamp duty, registration and any brokerage, which banks usually won't fund. They can add several percent to the price.

Does this show the tax benefit?

No. Under the old regime, interest on a self-occupied home can be deducted up to ₹2 lakh a year. The income tax calculator lets you test that.

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Illustrative figures only, from the numbers you enter and the assumptions stated above. Rates and rules change, so check them with the provider or a qualified adviser before acting. Arthscan is not a SEBI-registered research analyst or investment adviser, and nothing here is investment advice.