Calculate your monthly home loan EMI, total interest payable and view full amortization schedule. Adjust tenure and rate to find the perfect combination.
Monthly EMI
₹43,391
Total Interest
₹54.14 L
Total Payment
₹1.04 Cr
Tenure
240 months
Principal vs Interest
Personalised EMI for ₹50.0L over 240 months. Rates as of May 2026.
| Bank / NBFC | Interest Rate | Your EMIat starting rate | Monthly Savings | |
|---|---|---|---|---|
LIC LIC Housing Finance BESTLowest starting rate | 7.15%p.a. | ₹39,216/month | + ₹2,606/mo₹6.3L total | Apply |
BoB Bank of Baroda40 L+ homes financed | 7.20%p.a. | ₹39,367/month | + ₹2,455/mo₹5.9L total | Apply |
PNB Punjab National BankPSB with fast approval | 7.20%p.a. | ₹39,367/month | + ₹2,455/mo₹5.9L total | Apply |
SBI State Bank of IndiaIndia's largest bank | 7.25%p.a. | ₹39,519/month | + ₹2,303/mo₹5.5L total | Apply |
BHF Bajaj Housing Finance3-min online approval | 7.25%p.a. | ₹39,519/month | + ₹2,303/mo₹5.5L total | Apply |
ICI ICICI BankInstant sanction letter | 7.45%p.a. | ₹40,127/month | + ₹1,695/mo₹4.1L total | Apply |
TAT Tata Capitalup to 12% | 7.50%p.a. | ₹40,280/month | + ₹1,542/mo₹3.7L total | Apply |
KMB Kotak Mahindra BankDoorstep documentation | 7.70%p.a. | ₹40,893/month | + ₹929/mo₹2.2L total | Apply |
HDF HDFC BankLowest max rate | 7.75%p.a. | ₹41,047/month | + ₹775/mo₹1.9L total | Apply |
AXS Axis Bankup to 9.8% | 8.00%p.a. | ₹41,822/month | Lowest Rate 🏆 | Apply |
Rates shown are indicative starting rates (best-case, salaried applicants). Actual rate depends on credit score & eligibility. Affiliate links — we may earn a commission at no cost to you.
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At 8.5% interest rate. Actuals depend on your bank's rate — use the calculator above to get exact figures.
| Loan Amount | 10 Years | 15 Years | 20 Years | Total Interest (20yr) |
|---|---|---|---|---|
| ₹20 lakh | ₹24,758 | ₹19,695 | ₹17,356 | ₹21.7L |
| ₹30 lakh | ₹37,137 | ₹29,543 | ₹26,035 | ₹32.5L |
| ₹50 lakh | ₹61,895 | ₹49,238 | ₹43,391 | ₹54.1L |
| ₹75 lakh | ₹92,843 | ₹73,857 | ₹65,087 | ₹81.2L |
| ₹1 crore | ₹1,23,790 | ₹98,476 | ₹86,782 | ₹1.08Cr |
Processing Fee
0.25–1% of loan amount. On ₹50L: ₹12,500–₹50,000. Negotiate this — many banks waive it during festive offers.
Stamp Duty + Registration
4–8% of property value depending on state. On a ₹60L flat in Maharashtra: ~₹3.6L stamp + ₹30K registration.
Home Loan Insurance
Banks often bundle a decreasing-term plan into the EMI. A ₹50L loan's insurance can add ₹3–5L to total cost. You can buy it separately much cheaper.
Prepayment Penalty
Floating rate loans: RBI prohibits prepayment penalty. Fixed rate loans: 1–3% penalty on amount prepaid. Always check before signing.
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Home loan rates in India currently range from 8.35% (SBI) to 9.5%+ depending on the lender, loan amount, credit score and tenure. Floating rate loans are linked to external benchmarks like RBI repo rate.
Banks typically allow 40–50% FOIR (Fixed Obligation to Income Ratio). On ₹50,000/month income with no existing EMIs, you may be eligible for approx. ₹25–30L at 8.5% for 20 years.
Longer tenure reduces monthly EMI but increases total interest paid significantly. A 30-year loan at 8.5% on ₹50L costs about 2.5× in total interest vs a 10-year loan. Shorter tenure saves more.
Yes. Home loan principal repayment qualifies under Section 80C (up to ₹1.5L). Interest on home loan qualifies under Section 24 (up to ₹2L for self-occupied property). Both deductions are under old tax regime only.
The rent vs buy decision depends on price-to-rent ratio. If annual rent is less than 3% of property price, renting and investing the saved capital is often better mathematically. But homeownership provides an inflation-hedged asset, forced savings, and leveraged return. Most planners suggest buying when you plan to stay 7+ years in the same city.
Currently floating rate loans offer 8.35-9% while fixed rates are 11-12% - a significant premium. Floating is better when interest rates are expected to fall. Fixed makes sense when you expect rates to rise significantly. With the RBI rate cut cycle likely starting, floating rate home loans are the better choice for most new borrowers in 2026.
Under the OLD tax regime: interest deduction up to Rs 2L/year under Section 24 (self-occupied) plus principal repayment up to Rs 1.5L under Section 80C. Under the NEW tax regime: NO deduction for home loan interest or principal. For salaried taxpayers with large home loans of Rs 50L+, the old regime often saves Rs 60,000-90,000/year in tax vs new regime.
On a Rs 50L home loan at 8.5% for 20 years: EMI = Rs 43,391. Total payment = Rs 1.04 crore. Total interest = Rs 54.14L - more than the principal itself! This is why prepayment (even Rs 5L lumpsum in year 5) saves Rs 15-20L in interest over the loan life. Use the Loan Prepayment Calculator to quantify your specific savings.
Should you buy a home or keep renting? This guide uses actual numbers — EMI, rent, opportunity cost, appreciation, and tax savings — to give you a framework that works for your city and income.
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See how a parallel SIP can offset your entire home loan interest — pay EMI + invest and end up effectively interest-free.
Calculate how much interest and time you save by making a lumpsum prepayment on your existing loan.
Find out the maximum home loan amount you are eligible for based on income, existing EMIs and preferred tenure.
Universal EMI calculator — compute monthly instalment, total interest and amortization for any loan type.