Plan your home loan with accurate EMI, interest and balance projections. Adjust loan amount, rate and tenure to find the sweet spot for your budget.
Plan your dream home with our easy-to-use EMI calculator.
*The above calculation is an estimate based on your inputs.
Plan your home loan with accurate EMI, interest and balance projections. Adjust loan amount, rate and tenure to find the sweet spot for your budget.
- Max Deduction: ₹1.5 lakh/year
- Your Saving (30% bracket): ₹45,000/year
- Over 20 years: ₹9 lakh saved!
- Deduction: Full interest amount (no limit)
- Year 1 Interest: ₹30,90,125 (approx ₹1081544)
- Your Saving (30% bracket): ₹₹3,24,463
Combined Tax Saving: ₹₹15,27,037+
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| Duration | EMI | Interest | Total Paid | Best For |
|---|---|---|---|---|
| 10 Years | Higher | Lowest ✅ | Lowest | High earners |
| 15 Years | Medium | Low | Moderate | Balanced |
| 20 Years | ₹39,390 | ₹30,90,125 | Higher | Budget ease |
| 25 Years | Lowest | Highest ❌ | Highest | Avoid |
Pro Tip: 15 years is ideal for most Indians - balance between EMI burden and total interest paid.
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| Down Payment | Loan Size | EMI | Interest | You Save |
|---|---|---|---|---|
| 10% | ₹36,00,000 | ₹39,390 | ₹30,90,125 | — |
| 20% | ₹32,00,000 | Lower | Lower | ₹₹3,09,012 |
| 30% | ₹28,00,000 | Lower | Lower | ₹₹6,18,025 |
| 40% | ₹24,00,000 | Lower | Lower | ₹₹9,27,037 |
Key Insight: 30% down payment saves you ₹₹6,18,025 without lifestyle impact!
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- Prepay Amount: ₹1 lakh/year
- Interest Saved: ₹15,000-20,000 annually
- ROI: 150-200% guaranteed!
- Prepay 10% of original principal
- Interest saved compounds
- Finish loan in 15 years vs 20
- After 5 years, reduce EMI instead of tenure
- Keep surplus invested elsewhere (12%+ returns)
- Net benefit: 2-3% arbitrage
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Property: ₹1 Crore (Mumbai/Delhi/Bangalore)
- Down: 30% (₹30 lakhs)
- Loan: ₹70 lakhs
- EMI: ~₹64,000/month
- Tax Benefit: ₹1.5+ lakhs/year
- ✅ Strategy: Prepay ₹2L annually, close in 15 years
Property: ₹50 lakhs (Pune/Hyderabad)
- Down: 25% (₹12.5 lakhs)
- Loan: ₹37.5 lakhs
- EMI: ~₹35,000/month
- Tax Benefit: ₹75,000/year
- ✅ Strategy: Standard 20-year loan, comfortable EMI
Property: ₹30 lakhs (Tier-3 City)
- Down: 40% (₹12 lakhs)
- Loan: ₹18 lakhs
- EMI: ~₹17,000/month
- Interest: ₹1.2 lakhs (minimal)
- ✅ Strategy: Pay off in 10 years, maximum savings
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| ❌ Mistake | ✅ Solution |
|---|---|
| Maximum tenure to lower EMI | Choose 15 years, prepay |
| Ignore tax benefits | Claim 80C + 24(b) deductions |
| Not comparing rates | Shop 3-4 lenders |
| Skip prepayment plan | Allocate 10% salary |
| Fixed rate always | Choose floating for flexibility |
| Huge down payment | 30% is optimal |
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Q: What's my ideal EMI?
A: Should be 30-35% of gross monthly salary maximum. For EMI ₹39,390, you need ₹₹1,18,169/month salary.
Q: Fixed vs Floating rate?
A: Floating rates lower now but variable. Fixed is predictable. Choose floating if rates are at peak.
Q: Can I transfer my loan?
A: Yes, via balance transfer. Switch if rates drop 0.75%+. Check charges vs savings.
Q: How much tax do I save?
A: Section 80C (₹1.5L deduction) + Section 24(b) (full interest). Total: ₹2-5 lakhs over tenure.
Q: Should I prepay or invest?
A: If earning 12%+ elsewhere, keep loan at 8.5%. Otherwise, prepay to save interest.
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1. ✅ Check Affordability (EMI ≤ 35% salary)
2. ✅ Save Down Payment (30-40% ideal)
3. ✅ Improve CIBIL (750+ gets best rates)
4. ✅ Compare Lenders (Shop 3-4 options)
5. ✅ Lock Rate (Get guarantee)
6. ✅ Plan Prepayment (10% salary set aside)
7. ✅ Claim Tax Benefits (₹2-5L savings)
8. ✅ Refinance if Needed (Rate drop 0.75%+)
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Disclaimer: Interest rates, tax benefits, and loan terms are subject to change based on RBI policy, bank policies, and individual creditworthiness. This calculator assumes fixed rates for illustration. Actual EMI may vary with processing fees, insurance, and other charges. Always read loan documents carefully and consult a CA for tax planning.