Mortgage / Home Loan Calculator
Calculate EMI, total interest, and amortization schedule for Indian home loans.
Loan Details
₹
%
Current avg home loan rate: 8.5–9.5%
Monthly EMI
₹43,391
Principal Amount
₹50,00,000
Total Interest
₹54,13,879
Total Payment
₹1,04,13,879
Payment Breakdown
Principal (48.0%)
Interest (52.0%)
First 12 Months Schedule
| Month | EMI (₹) | Principal (₹) | Interest (₹) | Balance (₹) |
|---|---|---|---|---|
| 1 | 43,391 | 7,974 | 35,417 | 49,92,026 |
| 2 | 43,391 | 8,031 | 35,360 | 49,83,995 |
| 3 | 43,391 | 8,088 | 35,303 | 49,75,907 |
| 4 | 43,391 | 8,145 | 35,246 | 49,67,762 |
| 5 | 43,391 | 8,203 | 35,188 | 49,59,559 |
| 6 | 43,391 | 8,261 | 35,130 | 49,51,298 |
| 7 | 43,391 | 8,319 | 35,072 | 49,42,978 |
| 8 | 43,391 | 8,378 | 35,013 | 49,34,600 |
| 9 | 43,391 | 8,438 | 34,953 | 49,26,162 |
| 10 | 43,391 | 8,498 | 34,894 | 49,17,665 |
| 11 | 43,391 | 8,558 | 34,833 | 49,09,107 |
| 12 | 43,391 | 8,618 | 34,773 | 49,00,489 |
About Home Loans in India
How home loan EMI works
Home loan EMI uses the reducing balance method — you pay interest only on the outstanding principal, not the original loan amount. This means your interest component decreases every month while the principal component increases, even though the EMI stays constant.
Home loan eligibility & rates
Typically can borrow up to 80–90% of property value
Loan amount usually 60× your monthly take-home salary
Current SBI home loan: 8.5–9.65% depending on loan amount
Women borrowers get 0.05% concession from most banks
Credit score ≥ 750 qualifies for the best rates
Tax benefits on home loans
Section 24(b): Interest deduction up to ₹2 lakh/year (self-occupied)
Section 80C: Principal repayment up to ₹1.5 lakh/year
Section 80EEA: Additional ₹1.5 lakh for first-time buyers (affordable housing)
Under construction property: tax benefit starts only after possession
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