Home Loan EMI Calculator
Calculate your home loan EMI with current bank rates and view a complete year-wise amortization schedule. Free, privacy-first — inputs never leave your browser.
Loan Details
Results
Your Monthly EMI
₹43,391
Principal
₹50,00,000
Total Interest
₹54,13,879
Total Payment
₹1,04,13,879
Yearly Amortization Schedule
| Year | Principal Paid | Interest Paid | Balance |
|---|---|---|---|
| 1 | ₹99,511 | ₹4,21,182 | ₹49,00,489 |
| 2 | ₹1,08,307 | ₹4,12,387 | ₹47,92,181 |
| 3 | ₹1,17,881 | ₹4,02,813 | ₹46,74,300 |
| 4 | ₹1,28,300 | ₹3,92,394 | ₹45,46,000 |
| 5 | ₹1,39,641 | ₹3,81,053 | ₹44,06,359 |
| 6 | ₹1,51,984 | ₹3,68,710 | ₹42,54,375 |
| 7 | ₹1,65,418 | ₹3,55,276 | ₹40,88,957 |
| 8 | ₹1,80,039 | ₹3,40,655 | ₹39,08,918 |
| 9 | ₹1,95,953 | ₹3,24,741 | ₹37,12,965 |
| 10 | ₹2,13,274 | ₹3,07,420 | ₹34,99,691 |
| 11 | ₹2,32,125 | ₹2,88,569 | ₹32,67,566 |
| 12 | ₹2,52,643 | ₹2,68,051 | ₹30,14,923 |
| 13 | ₹2,74,974 | ₹2,45,720 | ₹27,39,949 |
| 14 | ₹2,99,279 | ₹2,21,415 | ₹24,40,670 |
| 15 | ₹3,25,733 | ₹1,94,961 | ₹21,14,937 |
| 16 | ₹3,54,525 | ₹1,66,169 | ₹17,60,412 |
| 17 | ₹3,85,862 | ₹1,34,832 | ₹13,74,550 |
| 18 | ₹4,19,968 | ₹1,00,726 | ₹9,54,582 |
| 19 | ₹4,57,090 | ₹63,604 | ₹4,97,492 |
| 20 | ₹4,97,492 | ₹23,202 | ₹0 |
Home loan rates — all 20 major lenders
| Bank | Rate (p.a.) | Open |
|---|---|---|
| 01Union Bank of IndiaLowest | 8.35% | |
| 02State Bank of India | 8.40% | |
| 03Punjab National Bank | 8.40% | |
| 04Bank of Baroda | 8.40% | |
| 05Canara Bank | 8.40% | |
| 06HDFC Bank | 8.50% | |
| 07HSBC India | 8.50% | |
| 08Citibank India | 8.55% | |
| 09DBS Bank India | 8.65% | |
| 10ICICI Bank | 8.75% | |
| 11Axis Bank | 8.75% | |
| 12Kotak Mahindra Bank | 8.75% | |
| 13Karnataka Bank | 8.75% | |
| 14Federal Bank | 8.80% | |
| 15IDFC First Bank | 8.85% | |
| 16South Indian Bank | 8.85% | |
| 17RBL Bank | 8.90% | |
| 18Yes Bank | 8.95% | |
| 19IndusInd Bank | 9.00% | |
| 20AU Small Finance Bank | 9.25% |
Rates are indicative starting rates based on publicly available information. Final rate depends on your credit score, income, and loan tenure.
For estimation only. Not professional financial, tax, or legal advice. Consult a qualified advisor before making decisions. Full disclaimer.
Home loan interest rates in India (2026)
Home loan rates are linked to the RBI repo rate. As of April 2026, most public banks (SBI, PNB, BoB) offer rates between 8.30% and 8.75%. Private banks (HDFC, ICICI, Axis) are at 8.50% to 9.10%. Rates depend on loan amount, credit score, and profession.
Tax benefits on a home loan
Under the old tax regime, you can claim up to ₹1.5L deduction on principal repayment (Section 80C) and up to ₹2L on interest (Section 24(b) of the Income Tax Act) for a self-occupied home. For a first-time buyer, an additional ₹50K is available under Section 80EE/80EEA.
Common questions about Home Loan
What is a competitive home loan rate in India right now?+
Public sector banks (SBI, BoB, PNB) offer 8.30%-8.75% p.a. Private banks (HDFC, ICICI, Axis) are 8.50%-9.10%. Rates depend on credit score (750+ gets best), loan amount, and whether the property is approved under RERA. Women borrowers often get 0.05-0.10% concession.
What loan tenure should I choose?+
Longer tenure (25-30 years) reduces monthly EMI but dramatically increases total interest — a ₹50L home loan at 8.75% costs ₹56L interest over 20 years vs ₹86L over 30 years. Pick the shortest tenure your cash flow allows; prepay aggressively in years with bonuses.
Home loan tax benefits — how much can I save?+
Under the OLD tax regime only: Section 24(b) — up to ₹2 lakh/year on interest for self-occupied home; Section 80C — up to ₹1.5 lakh/year on principal repayment; Section 80EE/80EEA — additional ₹50,000-₹1,50,000 for first-time buyers on affordable housing. Combined max: ₹5 lakh/year deduction possible.
Can I transfer my home loan to another bank?+
Yes — called "balance transfer". Worth it if the new lender offers 0.5%+ lower rate and the break-even on processing costs (typically 0.5-1% of outstanding) is under 2 years. Most banks don't charge prepayment penalties on floating-rate home loans.
How much home loan can I get on my salary?+
Banks use FOIR rule: all EMIs combined ≤ 50-55% of monthly income. Rough estimate: you can get 60× your monthly income as home loan. ₹1L/month salary → ₹60L loan approx. Use our Home Loan Eligibility Calculator for precise numbers.
What documents are needed for a home loan?+
Identity (Aadhaar, PAN), address proof, last 3 years ITR + Form 16, last 6 months bank statements, property documents (sale deed, NOC, approved plan), income proof (for salaried: 3 months payslips; for self-employed: business proof + last 3 years balance sheet).
Fixed vs floating rate — which is better?+
Floating rates are 1-2% lower than fixed. Fixed makes sense only if you expect rates to rise significantly in the next 3-5 years — rare case. For 20-year loans, floating wins almost always because rates oscillate over time.
What is a "step-up" home loan?+
Step-up home loan charges a lower EMI in the initial years (teaser period) that increases in subsequent years. Useful for young professionals expecting salary growth. Downside: you pay more interest overall compared to standard EMI structure.