Calculate home loan EMI, total interest paid, eligibility and tax benefits. Compare rates from 8+ banks. Plan your dream home purchase with accurate calculations.
Monthly EMI
₹46,862
Total Interest
₹58,46,989
Total Payment
₹1,18,46,989
✓Compare 3+ banks before applying
✓Fixed rates safer, floating rates lower
✓Prepay when bonus arrives
✓Keep EMI ratio below 40%
✓Check eligibility criteria first
EMI = P × r × (1+r)ⁿ
÷ [(1+r)ⁿ − 1]
P = Loan amount
r = Monthly rate
n = Months
Indicative rates — EMI per ₹10 lakh for 20 years
| Bank | Rate (p.a.) | EMI/₹10L (20yr) |
|---|---|---|
| SBI | 8.50% | ₹9,646 |
| HDFC Bank | 8.75% | ₹9,850 |
| ICICI Bank | 8.75% | ₹9,850 |
| Axis Bank | 8.75% | ₹9,850 |
| Bank of Baroda | 8.40% | ₹9,558 |
| Kotak Mahindra | 8.75% | ₹9,850 |
| PNB | 8.45% | ₹9,599 |
| IndusInd Bank | 8.50% | ₹9,646 |
Section 80C
₹1.5L/year
Principal repayment
Section 24(b)
₹2L/year
Interest paid
Section 80EEA
₹1.5L extra
First-time buyers
Section 80EEB
₹2L/year
New projects only
⚠️ Tax benefits applicable under old tax regime only. New regime offers limited benefits. Consult a CA for personalized advice.
Age
Minimum 21, Maximum 65 years at repayment
Income
Salaried: ₹2.5L+ p.a. / Self-employed: ₹5L+ p.a.
Credit Score
Minimum 650 CIBIL score (750+ preferred)
Employment
Salaried (2 years) / Self-employed (3 years)
Debt-to-Income
Total EMIs should be < 50% of monthly income
Property Value
Bank typically lends 80-90% of property value
Step 1 — Check eligibility and get pre-approval letter
Step 2 — Compare home loan rates from 3-5 banks
Step 3 — Select property and get property valuation done
Step 4 — Submit application with required documents
Step 5 — Receive loan sanction letter with terms
Step 6 — Complete legal formalities and get disbursement
EMI (Equated Monthly Installment) is the fixed amount you pay monthly to repay your home loan. It includes both principal and interest components.
EMI = P × r × (1+r)ⁿ ÷ [(1+r)ⁿ − 1], where P is principal, r is monthly rate, and n is tenure in months.
Banks typically lend up to 80-90% of property value. Maximum amount also depends on your income, credit score, and debt-to-income ratio.
Fixed rates remain constant throughout the loan tenure, while floating rates vary with RBI repo rate changes. Fixed is safer but typically higher.
Yes. RBI has mandated zero prepayment charges on floating-rate home loans. Fixed-rate loans may have 2-5% prepayment penalties.
Income proof (salary slip, ITR), bank statements, KYC (Aadhaar, PAN), property documents, and credit report.
🎯
Instant Results
Real-time EMI calculations as you adjust values
🔒
100% Private
No login or signup required, no data collection
📊
Bank Rates
Current interest rates from 8+ major banks
📱
Mobile Friendly
Works seamlessly on all devices