Calculate your monthly mortgage (home loan) EMI, total interest and payoff time, with optional extra payments.
Borrow the price minus your down payment, then apply the EMI formula. A ₹60,00,000 home with 20% down at 8.5% for 20 years has an EMI of ₹41,655.52, with total interest of ₹51,97,323.65.
A mortgage (home loan) is repaid in equal monthly instalments of principal and interest. This calculator turns the price, down payment, interest rate and term into your monthly EMI, the total interest you will pay over the life of the loan and how long it takes to clear. You can also add property tax, insurance and maintenance to see the true monthly cost of owning.
Extra payments make a big difference: adding a monthly, yearly or one-time overpayment shortens the loan and cuts interest, and the calculator shows exactly how much. The yearly schedule shows how the balance falls — in the early years most of each EMI is interest. For schedules see the Mortgage Amortization Calculator; to clear a loan early use the Mortgage Payoff Calculator.
The calculator applies the standard financial formulas step by step.
| Item | Amount |
|---|---|
| Price | ₹60,00,000.00 |
| Down payment | ₹12,00,000.00 |
| Loan amount | ₹48,00,000.00 |
| Monthly payment (principal + interest) | ₹41,655.52 |
| Total interest | ₹51,97,323.65 |
| Total of all payments | ₹99,97,323.65 |
| Time to pay off | 20 years |
| Term | 7.5% p.a. | 8.5% p.a. | 9.5% p.a. |
|---|---|---|---|
| 10 years | ₹56,976.85 | ₹59,513.13 | ₹62,110.83 |
| 15 years | ₹44,496.59 | ₹47,267.50 | ₹50,122.78 |
| 20 years | ₹38,668.47 | ₹41,655.52 | ₹44,742.30 |
| 25 years | ₹35,471.58 | ₹38,650.90 | ₹41,937.44 |
| 30 years | ₹33,562.30 | ₹36,907.85 | ₹40,361.00 |
EMI stands for equated monthly instalment — a fixed payment that covers the interest for the month and repays part of the principal, so the loan is fully cleared by the end of the term.
Lenders typically cap the EMI at 40–50% of your net income and lend up to 75–90% of the property value. Use the House Affordability Calculator to see a safe limit.
Yes, but you pay far more interest overall. Compare the terms in the table on this page to see the trade-off.
Every extra rupee goes straight to principal, reducing future interest. Even a small monthly top-up can cut years off a 20-year loan.
Property tax, home insurance and maintenance or society charges. Enter them to see the total monthly outgo.
The process of paying off a loan in instalments. Early payments are mostly interest, later ones mostly principal.
It uses the standard formula: EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1) The full method and a worked example are shown on this page.
No. The calculator gives estimates for planning and learning. Real offers vary by lender, product and date, so confirm the details with your bank, lender or a qualified adviser before deciding.
Yes. The maths is identical in any currency; only the currency symbol shown in the results differs.
No. Everything is calculated in your browser and nothing you enter is uploaded or saved.
