Home Loan EMI Calculator: Complete Guide to Smart Home Buying

Buying a home is the biggest financial decision most Indians make. With home loan interest rates ranging from 8.5% to 11%, understanding EMI calculations can save you lakhs of rupees over the loan tenure.

💡 Quick EMI Formula

EMI = P × r × (1+r)^n / [(1+r)^n - 1]
Where P = Principal, r = Monthly interest rate, n = Number of months

Home Loan EMI Calculator

EMI Calculation Formula

EMI = P × r × (1+r)^n / [(1+r)^n - 1]

Where P = Principal, r = Monthly rate, n = Months

₹50L

Loan Amount

Interest Rate

₹44,986

Monthly EMI

Smart Prepayment Strategies That Save Lakhs

Strategy 1: Annual Bonus Prepayment

Loan Details:

• Principal: ₹50 lakh
• Interest: 9% p.a.
• Tenure: 20 years
• EMI: ₹44,986

With ₹2L Annual Prepayment:

₹28.5 Lakh

Interest Saved

Tenure reduced by 8 years!

Strategy 2: Step-up EMI with Salary Hikes

Progressive EMI Plan:

• Years 1-5: ₹44,986
• Years 6-10: ₹50,000
• Years 11-15: ₹55,000
• Years 16-20: ₹60,000

Benefits:

₹15.2 Lakh

Additional Interest Saved

Loan cleared 3 years early

Home Loan Interest Rates: Bank Comparison 2025

Bank	Interest Rate	Processing Fee	Max Loan Amount
SBI	8.50% - 9.25%	₹10,000 + GST	₹10 Cr
HDFC Bank	8.75% - 9.50%	₹3,000 + GST	₹10 Cr
ICICI Bank	8.70% - 9.45%	₹5,500 + GST	₹15 Cr
Axis Bank	8.80% - 9.60%	₹10,000 + GST	₹5 Cr

Calculate Your Home Loan EMI Now

Use our advanced EMI calculator to plan your home purchase and prepayment strategy.