Calculate your home loan EMI, total interest, and pre-payment impact. Plan your dream home with accurate calculations for all major Indian banks.
Typical range: ₹20 Lac to ₹1 Cr
Enter the rate on your sanction letter or the lender's current quote. Rates differ by lender, loan size and credit score.
Choose between 5 to 30 years
Amount you plan to pre-pay every year
Monthly EMI
₹0
Total Amount Payable
₹0
Principal Amount
₹0
Total Interest
₹0
Interest Saved
₹0
Tenure Reduced By
0 years
New Loan Tenure
0 years
Section 24(b) - Interest Deduction
Up to ₹2,00,000 on interest paid
₹0
Section 80C - Principal Deduction
Up to ₹1,50,000 on principal repayment
₹0
Total Annual Tax Benefit
₹0
First-time buyers can claim additional ₹50,000 under Section 80EEA
A home loan (also called housing loan or mortgage) is a secured loan provided by banks and financial institutions to help you purchase, construct, or renovate a residential property. The property itself serves as collateral, and you repay the loan through fixed monthly installments (EMIs) over 5-30 years.
Most floating-rate home loans from banks are linked to an external benchmark, usually the RBI repo rate. Your rate is that benchmark plus a spread the bank fixes when it sanctions the loan. Since 1 October 2019 the RBI has required banks to link new floating-rate retail loans to an external benchmark, and the rate must be reset at least once every three months.
When the repo rate changes, your EMI or your remaining tenure changes at the next reset. The spread normally stays as sanctioned, which is why a lower spread is the most valuable thing to negotiate. Housing finance companies are not covered by this rule and usually price loans off their own benchmark rate.
Your credit score, the loan-to-value ratio, the loan amount and your type of employment all affect the spread you are offered. Lenders change their rates often, so use a current quote from the lender rather than any published table, including older versions of this page.
Young Professional in Bangalore
Scenario: ₹50 Lac loan at 8.60% for 20 years
Monthly EMI: ₹43,391 | Total Interest: ₹54.14 Lac
Smart Move: By pre-paying ₹1 Lac yearly from year 3, saves ₹19.8 Lac in interest and closes loan 5 years early!
Family Buying Dream Home in Mumbai
Scenario: ₹1 Cr loan at 8.75% for 25 years
Monthly EMI: ₹80,537 | Total Interest: ₹1.42 Cr
Tax Benefit: Saves ₹1,09,000 annually (₹2L interest + ₹1.5L principal deductions in 30% tax bracket)
First-Time Buyer in Delhi NCR
Scenario: ₹35 Lac loan at 8.40% for 15 years
Monthly EMI: ₹34,012 | Total Interest: ₹26.22 Lac
Bonus: Claims additional ₹50,000 under Section 80EEA as first-time buyer, total annual benefit ₹3.5 Lac!
| Section | Component | Maximum Deduction |
|---|---|---|
| 80C | Principal Repayment | ₹1,50,000 |
| 24(b) | Interest Payment | ₹2,00,000 |
| 80EEA | Additional Interest (1st time buyer) | ₹50,000 |
| What to check | Why it matters |
|---|---|
| Rate type | Floating rates move with the lender's benchmark. Fixed rates stay put but usually start higher, and some fixed loans convert to floating after a few years. |
| Spread over the benchmark | For most floating loans the spread is fixed at sanction, so it decides what you pay for the whole tenure. Compare spreads, not just today's headline rate. |
| Reset frequency | Bank loans on an external benchmark reset at least once every three months, so repo rate cuts and rises reach you quickly. |
| Processing fee | Usually a percentage of the loan or a flat fee, with GST on top. It is sometimes waived during offers, so ask. |
| Prepayment charges | RBI rules do not allow lenders to charge prepayment or foreclosure penalties on floating-rate loans taken by individuals for non-business purposes. Fixed-rate loans can carry a charge, so read the sanction letter. |
| Bundled insurance | Check whether a loan protection insurance premium has been added to the loan amount. Ask for the quote without it so you compare like with like. |
| Total cost | Put each offer's rate, tenure and fees into this calculator and compare the total interest, not the EMI alone. |
General guidance as of October 2026. Confirm current rates and charges with the lender and see the RBI's website for the rules on loan pricing.
| Loan Amount | 15 Years | 20 Years | 25 Years |
|---|---|---|---|
| ₹20 Lakhs | ₹19,695 | ₹17,356 | ₹16,108 |
| ₹30 Lakhs | ₹29,542 | ₹26,035 | ₹24,162 |
| ₹50 Lakhs | ₹49,237 | ₹43,391 | ₹40,270 |
| ₹75 Lakhs | ₹73,855 | ₹65,087 | ₹60,405 |
| ₹1 Crore | ₹98,474 | ₹86,782 | ₹80,539 |
For Informational Purposes Only: This calculator provides estimates based on the inputs you provide. Actual loan terms, EMI amounts, interest rates, and tax benefits may vary based on lender policies, credit score, and current government regulations.
Not Financial/Legal Advice: The information and calculations provided here are NOT professional financial or legal advice. Do not make major financial decisions based solely on these calculations.
Consult Professionals: Always consult with certified financial advisors, tax consultants, and loan officers for accurate and personalized advice before taking any loans or making investments.
No Liability: QuickTools India assumes no responsibility for any financial losses, damages, or decisions taken based on the calculations or information provided on this tool.
The rules and rates used on this page come from these official bodies. Rates and limits change, so confirm the current figure on the official site before you act on a number here.