Home Loan EMI Calculator

Home Loan EMI Calculator — how it works

Before taking a home loan, it helps to know exactly what your monthly commitment will look like. This calculator works out your EMI, total interest paid, and total amount payable over the loan tenure.

How EMI is calculated

EMI uses a reducing-balance formula — each instalment includes both principal and interest, with the interest portion highest in early years and shrinking over time as the outstanding principal reduces.

Tenure vs interest trade-off

A longer tenure lowers your monthly EMI but significantly increases the total interest paid over the life of the loan. Try a couple of different tenures in the calculator to see the trade-off for your own numbers.

Tax benefit

Under the old regime, home loan interest is deductible up to ₹2,00,000 a year under section 24(b), and principal repayment qualifies under section 80C — a meaningful benefit worth factoring into your regime choice.

The formula

Why use Pretax's home loan emi calculator

• Current rates. Slabs and limits are reviewed against the current Finance Act.
• Nothing leaves your browser. Every calculation runs on your device — we never see or store what you type.
• Built by working CAs. The same team that files returns for our clients maintains these formulas.
• Free, no signup. No account and no email required to see a result.

Frequently asked questions

Does prepaying reduce my EMI or my tenure?

Most lenders let you choose — reducing the tenure saves more total interest, while reducing the EMI lowers your monthly outgo. We usually recommend reducing tenure if you can afford it.

Is a floating or fixed rate better?

Floating rates are usually lower initially but change with the market; fixed rates cost more upfront but stay predictable. It depends on your risk comfort and the loan term.