Home Loan Calculator
Calculate home loan EMI with property value, down payment, and tax benefit estimates. Free housing loan calculator for India.
How to Use
Step-by-step guide to get the most from this tool
- 1
Choose a property preset
Select affordable, mid-range, premium, or luxury home preset or enter custom property value.
- 2
Set down payment
Adjust down payment percentage to see loan amount and EMI change.
- 3
Configure rate and tenure
Enter interest rate and loan tenure in years.
- 4
Review EMI and tax benefits
See monthly EMI, principal vs interest breakdown, and estimated annual tax savings.
Features
What makes this tool stand out
Home loan presets
Quick-start for ₹25L to ₹2Cr property ranges.
Down payment slider
See how down payment affects loan and EMI.
Interest breakdown
Pie chart of principal vs total interest.
Tax benefit estimate
Section 80C and 24(b) savings at 30% slab.
India-focused
Typical Indian home loan rates and tenures.
Instant results
EMI updates live as you adjust inputs.
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Frequently Asked Questions
Quick answers to common questions
How is home loan EMI calculated?+
EMI uses the reducing balance formula: EMI = [P × R × (1+R)^N] / [(1+R)^N − 1], where P is loan amount (property value minus down payment), R is monthly interest rate, and N is tenure in months.
What down payment is required for a home loan?+
Banks typically finance 75–90% of property value. A 20% down payment is common. Higher down payment reduces EMI and total interest paid.
What tax benefits are available on home loans?+
Section 80C allows deduction on principal repayment up to ₹1.5 lakh/year. Section 24(b) allows interest deduction up to ₹2 lakh/year for self-occupied property.
What is the current home loan interest rate in India?+
Home loan rates range from 8% to 9.5% depending on the lender, credit score, and loan amount. Our presets use typical rates — adjust to match your bank offer.
How long should my home loan tenure be?+
Longer tenure lowers EMI but increases total interest. 20–25 years is common for home loans. Use prepayment to reduce tenure once income grows.
Fixed vs floating rate home loan?+
Floating rates change with RBI repo rate and are standard for most home loans. Fixed rates offer certainty but are usually higher and may have prepayment penalties.
Can I get 100% financing on a home loan?+
Rarely. Most banks require 10–25% down payment. Some government schemes like PMAY offer subsidies but not full financing.
How does this differ from the general EMI calculator?+
This calculator is tailored for home loans with property value, down payment presets, and tax benefit estimates under Sections 80C and 24(b).