Home Loan EMI Calculator
Calculate your home loan EMI with current bank rates and get a full amortization schedule.
Monthly EMI
₹42,603.28
Total Payment
₹1.02 Cr
Total Interest
₹52.25 L
Principal
48.9%
Interest
51.1%
Total EMIs
240
Loan closes
Jul 2046
Break-even
N/A
Interest : Principal
51.1% : 48.9%
Outstanding balance at any month
About Home Loan EMI Calculator
Home loans in India range from 8.25%–10% depending on your credit score, income, and lender. Banks use RLLR (Repo Linked Lending Rate) to price floating rate home loans - when RBI cuts the repo rate, your EMI or tenure adjusts within 1–3 months. Borrowers with a CIBIL score of 750+ and stable salaried income consistently get the best rates. Comparing just 2–3 lenders before finalizing can save you 5–10 lakh over a 20-year loan.
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Home Loan EMI by loan amount
Monthly EMI and total interest at 8.25% for 20 years — the typical rate and tenure for a home loan. Change any value in the calculator above to match your own loan.
| Loan amount | Monthly EMI | Total interest |
|---|---|---|
| ₹5 L | ₹4,260 | ₹5.22 L |
| ₹10 L | ₹8,521 | ₹10.45 L |
| ₹20 L | ₹17,041 | ₹20.9 L |
| ₹30 L | ₹25,562 | ₹31.35 L |
| ₹50 L (default) | ₹42,603 | ₹52.25 L |
| ₹1 Cr | ₹85,207 | ₹1.04 Cr |
₹50 L Home Loan EMI by tenure
| Tenure | Monthly EMI | Total interest |
|---|---|---|
| 10 years | ₹61,326 | ₹23.59 L |
| 15 years | ₹48,507 | ₹37.31 L |
| 20 years (default) | ₹42,603 | ₹52.25 L |
| 25 years | ₹39,423 | ₹68.27 L |
| 30 years | ₹37,563 | ₹85.23 L |
Stretching a ₹50 L home loan from 10 to 30 years lowers the EMI by ₹23,763/month but adds ₹61.64 L in extra interest. Pick the shortest tenure your budget comfortably allows.
Income needed for a ₹50 L home loan
Minimum net monthly income
₹85,206
EMI at 50% of income (tight approval)
Comfortable net monthly income
₹1,06,508
EMI at 40% of income (room to spare)
Banks assess your Fixed Obligation to Income Ratio (FOIR) — your total EMIs as a share of net income. With an EMI of ₹42,603 on this ₹50 L home loan, you generally need at least ₹85,206 net per month, and ₹1,06,508+ for a comfortable approval if you already have other EMIs or credit-card dues.
Frequently Asked Questions
What is the EMI on a ₹50 L home loan at 8.25%?▾
At 8.25% for 20 years, the EMI on a ₹50 L home loan is about ₹42,603 per month. Over the full term you repay ₹1.02 Cr — ₹50 L of principal plus ₹52.25 L of interest, which is 104% of what you borrow. Adjust the amount, rate, and tenure above for your exact figures.
How much monthly income do I need for a ₹50 L home loan?▾
Lenders usually want your total EMIs to stay within 40–50% of net monthly income (the FOIR rule). With an EMI of ₹42,603, you would typically need at least ₹85,206 net per month for approval, and ₹1,06,508 or more to stay comfortable if you already have other EMIs or credit-card dues.
What is the current home loan interest rate in India?▾
Most banks offer home loans between 8.25%–9.5% for salaried borrowers with a 750+ CIBIL score. Rates vary based on loan amount, tenure, and credit profile. Always compare at least 3 lenders - a 0.25% rate difference on a 50L loan saves over 2 lakh in total interest.
How much home loan can I get on a 1 lakh monthly salary?▾
With 1 lakh net take-home salary and no existing EMIs, most banks will approve 45–55 lakh for a 20-year tenure (keeping EMI within 45–50% of income). Adding a co-applicant's income can increase eligibility significantly.
Is it better to take a shorter or longer home loan tenure?▾
Shorter tenure means higher EMI but far less interest paid overall. A 50L loan at 8.5% for 15 years costs 36L in interest vs 65L for 25 years. Choose the shortest tenure your budget can support while keeping EMI within 35–40% of take-home salary.
What is the effect of RBI rate cuts on my home loan EMI?▾
If you have a floating rate loan linked to the repo rate (RLLR), a 0.25% rate cut reduces your EMI by roughly 200–400 per lakh borrowed depending on tenure. Most banks reduce tenure first; ask your bank to reduce the EMI instead if that suits you better.
What documents are needed for a home loan?▾
Identity proof (Aadhaar, PAN), address proof, last 3 months salary slips, Form 16 or 2 years ITR, last 6 months bank statements, and property documents (sale agreement, title deed, approved building plan). Self-employed borrowers need 2–3 years audited financials.
Can I claim tax benefit on home loan EMI?▾
Yes, under the old tax regime: principal repayment up to 1.5L/year under Section 80C, and interest up to 2L/year under Section 24(b). For a first home, additional 1.5L interest deduction is available under Section 80EEA if loan was sanctioned before March 2022. These deductions are not available under the new tax regime.