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
Current rates: 7.10% - 10.90% (2024-2025)
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.
SBI Home Loan
8.50% - 9.65%
HDFC Home Loan
8.60% - 9.50%
ICICI Home Loan
8.75% - 10.65%
Axis Bank Home Loan
8.75% - 9.65%
Rates vary based on loan amount, credit score, and property location
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 |
| Bank / Housing Finance | Interest Rate (p.a.) | Processing Fee |
|---|---|---|
| SBI Home Loan | 8.50% - 9.85% | 0.35% + GST |
| HDFC Bank | 8.75% - 9.60% | ₹3,000 - ₹5,000 |
| ICICI Bank | 8.75% Onwards | 0.50% - 2.00% |
| LIC Housing Finance | 8.50% - 10.75% | ₹10,000 - ₹15,000 |
| Kotak Mahindra | 8.70% Onwards | 0.50% - 1.00% |
* Rates are indicative and depend on credit score (CIBIL > 750 gets best rates). Updated: Jan 2025.
| 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.