હોમ લોન ઈએમઆઈ કેલ્ક્યુલેટર

An Equated Monthly Instalment (EMI) is the fixed rupee amount you pay each month to your lender. It comprises both principal repayment and interest on the reducing balance. It is calculated using the formula E = P × r × (1+r)ⁿ / ((1+r)ⁿ - 1), where P is loan principal, r is the monthly interest rate, and n is the tenure in months.

A longer tenure (e.g. 25-30 years) lowers your monthly EMI, making it easier on your monthly cash flow. However, you pay significantly higher total interest over the life of the loan. A shorter tenure increases monthly payments but cuts your total interest outgo drastically.

Yes. Under Section 24(b) of the Income Tax Act, you can deduct up to ₹2,00,000 per financial year against interest paid on a self-occupied property. Under Section 80C, principal repayments up to ₹1,50,000 qualify for deduction (under the Old Tax Regime).

Per RBI guidelines, banks and housing finance companies cannot charge prepayment or foreclosure penalties on floating-rate home loans availed by individual borrowers.

Because currency is denominated in whole paise (two decimal places), rounding theoretical EMI figures up or down causes tiny fractional discrepancies over multiple years. Our schedule engine applies half-up rounding each month and reconciles the final payment so your balance settles to exactly ₹0.00.