Home Loan EMI Calculator
Calculate your monthly EMI, total interest and total amount payable instantly.
Loan Amount₹30,00,000
50,0005,00,00,000
Interest Rate (p.a.)8.5%
530
Loan Tenure20 Years
130
Your Monthly EMI
₹26,035
Principal₹30,00,000
Total Interest₹32,48,327
Total Payable₹62,48,327
How is EMI calculated?
EMI is calculated using the formula:
EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1)
- P = Loan amount (principal)
- r = Monthly interest rate (annual rate ÷ 12 ÷ 100)
- n = Tenure in months
How can I reduce my EMI?
Choose a longer tenure, negotiate a lower interest rate with a good credit score, or make a part-prepayment to reduce the principal.
Is the EMI fixed for the whole tenure?
For fixed-rate loans, yes. For floating-rate loans (like most home loans), the EMI or tenure may change when the lender revises its rate.
Does a longer tenure cost more?
Yes. A longer tenure lowers your EMI but increases the total interest you pay over the loan.