Home Loan Calculator
Calculate your monthly home loan installment and analyze how different loan tenures impact overall borrowing costs.
Calculator Inputs
LiveLoan Amortization Schedule
Principal and interest repayment schedule over 10 years (120 payments)
| Year | Payment | Principal | Interest | Remaining Balance |
|---|---|---|---|---|
| Year 1 | ₹4,46,348.52 | ₹1,98,981.99 | ₹2,47,366.53 | ₹28,01,018.01 |
| Year 2 | ₹4,46,348.52 | ₹2,16,570.20 | ₹2,29,778.32 | ₹25,84,447.81 |
| Year 3 | ₹4,46,348.52 | ₹2,35,713.01 | ₹2,10,635.51 | ₹23,48,734.80 |
| Year 4 | ₹4,46,348.52 | ₹2,56,547.91 | ₹1,89,800.61 | ₹20,92,186.89 |
| Year 5 | ₹4,46,348.52 | ₹2,79,224.41 | ₹1,67,124.11 | ₹18,12,962.48 |
| Year 6 | ₹4,46,348.52 | ₹3,03,905.33 | ₹1,42,443.19 | ₹15,09,057.15 |
| Year 7 | ₹4,46,348.52 | ₹3,30,767.77 | ₹1,15,580.75 | ₹11,78,289.38 |
| Year 8 | ₹4,46,348.52 | ₹3,60,004.64 | ₹86,343.88 | ₹8,18,284.74 |
| Year 9 | ₹4,46,348.52 | ₹3,91,825.79 | ₹54,522.73 | ₹4,26,458.95 |
| Year 10 | ₹4,46,347.86 | ₹4,26,458.95 | ₹19,888.91 | ₹0 |
How to use the Home Loan Calculator
- 1Enter the total home loan requirement amount.
- 2Enter the lender interest rate percentage.
- 3Enter loan tenure in years.
- 4View monthly installments, total interest payable, and total cost of acquisition.
How Home Loan is Calculated
Home loans use reducing balance monthly compounding to compute fixed monthly payments over the term.
P = Principal home loan amount, r = Monthly interest rate, n = Total months.
- 1Monthly EMI = ₹44,186
- 2Total Payment = ₹1,06,04,640
- 3Total Interest = ₹56,04,640
What affects Home Loan results
- Fixed vs floating interest rates linked to repo rates or benchmark indices.
- Lender processing fees and administrative charges.
- Annual loan balance prepayments.
Frequently Asked Questions
Are there tax benefits on home loans in India?
Yes. Principal repayment qualifies for deductions under Section 80C (up to ₹1.5 Lakh), and interest paid qualifies under Section 24(b) (up to ₹2 Lakh for self-occupied property).
Can I transfer my home loan to another bank for lower interest?
Yes, a home loan balance transfer allows you to switch your outstanding loan to a lender offering lower interest rates.
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