Home Loan Calculator

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.

Banks typically finance 75–90% of property value. A 20% down payment is common. Higher down payment reduces EMI and total interest paid.

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.

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.

Longer tenure lowers EMI but increases total interest. 20–25 years is common for home loans. Use prepayment to reduce tenure once income grows.

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.

Rarely. Most banks require 10–25% down payment. Some government schemes like PMAY offer subsidies but not full financing.

This calculator is tailored for home loans with property value, down payment presets, and tax benefit estimates under Sections 80C and 24(b).