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🏠 Home Loan EMI Calculator

How to use: Enter the loan amount, interest rate, tenure and start month. Add part-prepayments (one time, monthly, quarterly, half-yearly or yearly) and interest rate changes, then choose whether to reduce the tenure or the EMI. The savings and the schedule update as you type.

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About the Home Loan EMI Calculator

A home loan runs for 15 to 30 years, and small decisions change the total a lot. A ₹1 lakh prepayment in the early years, or a rate cut from your bank, can save lakhs of rupees in interest and years of EMIs. The ToolSandook Home Loan EMI Calculator shows you exactly how much.

Enter the loan amount, rate, tenure and the month of your first EMI. Add as many part-prepayments as you like, one time or repeating every month, quarter, half-year or year, and add rate changes for a floating-rate loan. Choose whether each change should cut your tenure or your EMI. You see the EMI, total interest, interest saved, when the loan ends, and a year-by-year or month-by-month schedule you can download for Excel.

How to use the Home Loan EMI Calculator

  1. Enter the loan amount, interest rate, tenure and first EMI month.
  2. Add part-prepayments: type, amount and the month they start.
  3. Add interest rate changes if your loan is on a floating rate.
  4. Pick Reduce tenure or Reduce EMI, then check the savings and the schedule, or download it as CSV.

Features

  • Multiple prepayments: one time, monthly, quarterly, half-yearly, yearly
  • Floating rate changes from any month
  • Reduce tenure or reduce EMI
  • Yearly and monthly schedule with Excel (CSV) download

Frequently asked questions

Should I reduce my tenure or my EMI after a prepayment?

Reducing the tenure usually saves more interest, because you keep paying the same EMI and the loan ends sooner. Reducing the EMI eases your monthly budget but saves less. Try both here and compare the interest saved.

Is there a charge for prepaying a home loan?

In India, banks and housing finance companies generally do not charge prepayment penalties on floating-rate home loans taken by individuals. Fixed-rate loans can carry a charge. Check your loan agreement or ask your lender.

What happens to my EMI when the repo rate changes?

On a floating-rate loan, banks usually keep the EMI the same and change the tenure. Some reduce or raise the EMI instead. Add a rate change here and switch between Reduce tenure and Reduce EMI to see both.

Why is my bank's schedule slightly different?

Banks round EMIs, may charge interest on a daily balance, and may apply prepayments on a different date. Expect small differences of a few rupees; the overall picture stays the same.

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