How is home loan EMI calculated in India?

EMI = [P × R × (1+R)^N] / [(1+R)^N – 1], where P = loan principal, R = monthly interest rate (annual rate ÷ 12 ÷ 100), N = tenure in months. For example, a ₹50 lakh loan at 8.75% for 20 years gives an EMI of approximately ₹44,986.

What is the current SBI home loan interest rate?

SBI home loan interest rates start from 8.50% p.a. (as of 2025). The calculator defaults to 8.75% which represents a common mid-range rate. Actual rates depend on loan amount, credit score, and scheme chosen.

What is LTV ratio for home loans in India?

LTV (Loan-to-Value) is the loan amount as a percentage of property value. RBI guidelines mandate: for loans up to ₹30L — max 90% LTV; ₹30L–₹75L — max 80% LTV; above ₹75L — max 75% LTV. Lower LTV means better terms and lower risk.

How much tax can I save on home loan under Section 24b?

Under the old tax regime: Principal repayment up to ₹1.5 lakh/year is deductible under Section 80C. Interest paid up to ₹2 lakh/year is deductible under Section 24b for self-occupied property. At 30% tax slab + 4% cess, maximum annual tax saving = (₹1.5L + ₹2L) × 31.2% = ₹1,09,200.

Does prepayment reduce home loan tenure or EMI?

Prepayment reduces your outstanding principal, which reduces total interest significantly. In this calculator, prepayment is applied to principal each month, calculating the actual reduced tenure while keeping EMI constant — which is the most common bank practice.

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Home Loan EMI Calculator India

Free to Use

Calculate EMI, amortization, LTV, Section 24b tax benefits, prepayment savings, outstanding balance lookup and floating rate scenarios for home loans in India.

Country

Property & Loan Details

Home / Property Value (₹)

Down Payment

Loan Amount (₹)

Auto: ₹40,00,000

Annual Interest Rate (%)

SBI home loan rate: ~8.75%

Loan Tenure20 years

5 yrs30 yrs

Processing Fee (%)

₹35,348

Monthly EMI

₹44,83,623

Total Interest

₹85,03,623

Total Payment

Loan-to-Value (LTV) Ratio

RBI limit: 75–90% depending on loan amount

80.0%

Good LTV

Principal vs Interest Breakdown

Principal (Loan Amount)₹40,00,000 (47.0%)

Total Interest Cost₹44,83,623 (52.7%)

Processing Fee₹20,000 (0.2%)

Outstanding Balance Lookup

After how many EMIs paid?12 EMIs

1 EMI240 EMIs (20 yrs)

Outstanding Principal

₹39,22,770

Principal Paid

₹77,230

Interest Paid

₹3,46,952

Amortization Chart (Year-wise)

Yr 1

₹39,22,770

Yr 2

₹38,38,505

Yr 3

₹37,46,564

Yr 4

₹36,46,248

Yr 5

₹35,36,793

Yr 6

₹34,17,367

Yr 7

₹32,87,062

Yr 8

₹31,44,887

Yr 9

₹29,89,760

Yr 10

₹28,20,501

Yr 11

₹26,35,824

Yr 12

₹24,34,324

Yr 13

₹22,14,468

Yr 14

₹19,74,584

Yr 15

₹17,12,847

Yr 16

₹14,27,268

Yr 17

₹11,15,673

Yr 18

₹7,75,693

Yr 19

₹4,04,743

Yr 20

₹0

PrincipalInterestRemaining balance →

Year-wise Amortization

Year	Opening Bal	EMI Paid	Principal	Interest	Closing Bal
Year 1	₹40,00,000	₹4,24,181	₹77,230	₹3,46,952	₹39,22,770
Year 2	₹39,22,770	₹4,24,181	₹84,265	₹3,39,916	₹38,38,505
Year 3	₹38,38,505	₹4,24,181	₹91,941	₹3,32,240	₹37,46,564
Year 4	₹37,46,564	₹4,24,181	₹1,00,317	₹3,23,865	₹36,46,248
Year 5	₹36,46,248	₹4,24,181	₹1,09,455	₹3,14,726	₹35,36,793

Years 1–5 of 20

Rate Comparison

Monthly EMI for ₹40,00,000 over 20 years at different rates

Rate	Monthly EMI	Total Interest	vs Current
8%	₹33,458	₹40,29,825	₹-1,891/mo
8.5%	₹34,713	₹43,31,103	₹-635/mo
9%	₹35,989	₹46,37,369	+₹641/mo
9.5%	₹37,285	₹49,48,459	+₹1,937/mo
10%	₹38,601	₹52,64,208	+₹3,252/mo

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