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Home Loan EMI Calculator

Home loan EMI from the property price and down payment, with prepayment savings and an amortization table.

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Your loan
$
$

20% down · borrowing $80,000

% per year
years
$

Optional. Goes straight to principal and ends the loan sooner.

Monthly EMI
$694.26
Total interest
$86,622
Total paid
$166,622
Paid off in
20 years
Interest per day
$18.64
in the first month
Total$166.6K
  • Principal$80,00048%
  • Interest$86,62252%
Small change, big saving

Add $69 a month and you save $19,940 in interest, finishing 3 years 11 months sooner.

Worth shopping around

A rate of 7.50% instead of 8.5% would cost $11,948 less in interest and $49.78 less a month.Half the loan is repaid in year 14; the first year alone costs $6,739 in interest.

Over the life of the loan
Balance leftInterest paid so farHover for any year
yr 5yr 10yr 15yr 20
Compare scenariosSave this one, change a number, save again
Year by year20 years · click a year for months
YearPrincipalInterestBalance
1$1,592$6,739$78,408
2$1,733$6,598$76,675
3$1,886$6,445$74,789
4$2,053$6,278$72,736
5$2,234$6,097$70,502

Home loan EMI explained

Banks usually fund up to 75–90% of the property value, so the loan amount is the price minus your down payment. The EMI is then fixed for the term (unless your rate is floating and changes). The first years are interest-heavy: on a 20-year loan at 8.5%, more than half of each early EMI is interest.

Eligibility and tenure

Lenders typically want your total EMIs under 40–50% of your take-home pay. If the EMI here is too high, lengthening the tenure lowers it, but total interest goes up sharply. Compare a 15-year and a 20-year scenario to see the trade-off in interest.

Prepayment and part-payment

Floating-rate home loans usually allow prepayment without penalty. Even one extra EMI a year, or a small monthly top-up, can cut years off the loan. Enter it in the extra payment field to see the interest and time saved.

Tax benefits

In many countries interest and principal on a home loan qualify for tax deductions up to set limits. The EMI figure here is before any such benefit; check the current rules where you live.

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