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Home Loan EMI Calculator

EMI, the full amortisation schedule, and what a prepayment saves — both ways a lender can apply it

Loan Details

₹50.00 lakh

The rate your lender quotes today. Floating rates move with the benchmark.

Prepayment (optional)

Leave at 0 for no prepayment.

Rates as per Union Budget 2026 (no change to rates) · Income-tax Act, 2025 · verified 2026-08-13. Figures apply to tax year 2026-27. The Income-tax Act, 2025 replaced the 1961 Act on 1 April 2026 and renumbers sections; rates are unchanged. This tool is an estimate, not tax advice.

Monthly EMI

₹43,391

Total Interest
₹54,13,879
Total of All EMIs
₹1,04,13,879

Interest is 108% of the amount borrowed.

Tax on this loan (old regime)

Interest in year 1, deductible under Section 22 (formerly 24(b))
₹2,00,000
Principal in year 1, counted towards Section 123 (formerly 80C)
₹99,511
Section 22 (formerly 24(b)) cap, self-occupied
₹2,00,000
Section 123 (formerly 80C) pool, shared with EPF, PPF and others
₹1,50,000

The new regime allows neither deduction for a self-occupied home. A let-out property has no Section 22 (formerly 24(b)) cap, but a set-off limit on the loss applies.

What you repay

Principal₹50,00,000 · 48.0%
Interest₹54,13,879 · 52.0%

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How this is calculated

Formula

EMI = P × i × (1 + i)ⁿ ÷ ((1 + i)ⁿ − 1)

P
= loan amount
i
= monthly rate = annual rate ÷ 12 ÷ 100
n
= number of instalments = years × 12

With your numbers

  1. 1Monthly ratei = r ÷ 12 ÷ 1008.50% ÷ 12 ÷ 100 = 0.007083
  2. 2Instalmentsn = years × 1220 × 12 = 240
  3. 3EMIP × i × (1 + i)ⁿ ÷ ((1 + i)ⁿ − 1)₹50,00,000 → ₹43,391 a month
  4. 4Each monthinterest = balance × i; principal = EMI − interestMonth 1: interest ₹35,417, principal ₹7,974
Monthly EMI₹43,391
  • Early instalments are mostly interest, because interest is charged on the whole outstanding balance. That is also why a prepayment early in the loan saves the most.
  • A prepayment that keeps the EMI and shortens the tenure always saves more interest than one that keeps the tenure and lowers the EMI: the larger instalment keeps paying down principal faster.
  • The rate is held constant for the whole tenure, and no prepayment fee is deducted. Check your loan agreement for either.
Year-by-year schedule
YearPrincipalInterestBalance
1₹99,511₹4,21,182₹49,00,489
2₹1,08,307₹4,12,387₹47,92,181
3₹1,17,881₹4,02,813₹46,74,300
4₹1,28,300₹3,92,394₹45,46,000
5₹1,39,641₹3,81,053₹44,06,359
6₹1,51,984₹3,68,710₹42,54,375
7₹1,65,418₹3,55,276₹40,88,957
8₹1,80,039₹3,40,655₹39,08,918
9₹1,95,953₹3,24,741₹37,12,965
10₹2,13,274₹3,07,420₹34,99,691
11₹2,32,125₹2,88,569₹32,67,566
12₹2,52,643₹2,68,051₹30,14,923
13₹2,74,974₹2,45,720₹27,39,949
14₹2,99,279₹2,21,415₹24,40,670
15₹3,25,733₹1,94,961₹21,14,937
16₹3,54,525₹1,66,169₹17,60,412
17₹3,85,862₹1,34,832₹13,74,550
18₹4,19,968₹1,00,726₹9,54,582
19₹4,57,090₹63,604₹4,97,492
20₹4,97,492₹23,202₹0

Frequently Asked Questions

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