Home loan EMI calculator
Move the sliders to see your monthly EMI, the interest you will pay and how the loan reduces each year. Then ask us for a quote.
Year-by-year repayment schedule
| Year | Principal paid | Interest paid | Loan left |
|---|
Indicative only. Your actual EMI depends on the lender, your eligibility, the rate type (floating or fixed) and the final cost sheet.
Let us find you the best home loan offer.
Tell us roughly what you need and an advisor will come back with current offers from banks and housing finance companies, matched to the project you are buying.
- Offers compared on rate, processing fee and tenure
- Help with the paperwork and the bank's project approval
- Loans for salaried, self-employed and NRI buyers
- Balance transfer of an existing home loan
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How your EMI is worked out
Banks use the standard reducing-balance formula: EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1), where P is the loan amount, r is the monthly interest rate (the yearly rate ÷ 12 ÷ 100) and n is the number of monthly instalments.
In the early years most of each EMI goes towards interest; the share that repays the loan grows every year. That is why part-prepayments made early save the most interest.
How much can you borrow?
RBI rules cap how much of the property value a bank can lend (the loan-to-value ratio): up to 90% for loans up to ₹30 lakh, 80% for loans of ₹30 to 75 lakh, and 75% above ₹75 lakh. Stamp duty and registration are usually not funded, so plan for them separately with the stamp duty calculator.
Questions buyers ask
What is a good interest rate for a home loan?
Rates move with the RBI repo rate and depend on your credit score, income and the lender. Use the slider to compare: even 0.25% less on a ₹1 crore, 20-year loan saves well over ₹3 lakh of interest. Ask us for a quote to see current offers.
Should I choose a longer or shorter tenure?
A longer tenure lowers the EMI but raises the total interest. A common approach is a longer tenure for a comfortable EMI, with part-prepayments whenever you have surplus funds; most floating-rate home loans have no prepayment penalty for individual borrowers.
Do I get tax benefits on a home loan?
Under the old tax regime, interest on a self-occupied home is deductible up to ₹2 lakh a year (Section 24(b)) and principal repayment counts towards the ₹1.5 lakh limit under Section 80C. The new regime does not allow these for a self-occupied home. Check with your tax adviser.
Can NRIs get a home loan for property in Gurgaon?
Yes. Most Indian banks and housing finance companies lend to NRIs, with EMIs paid from an NRE or NRO account. Documents include your passport, visa or work permit, overseas salary slips and bank statements. See our NRI Corner for more.
Is the down payment the only cash I need?
No. Budget separately for stamp duty (7% for men, 5% for women and 6% for joint buyers in Gurugram), the registration fee (up to ₹50,000), GST on under-construction homes and any extra charges. The property cost calculator adds these up for you.
