Home Loan Calculator India
Calculate home loan EMI, eligibility, and affordability
Home Loan Calculator India
Calculate home loan EMI, eligibility, and tax benefits. Plan your home purchase with accurate loan calculations and affordability analysis.
Home Loan Details
Total property cost
Your contribution (minimum 10%)
Max based on LTV: ₹54,00,000
Current home loan rates: 8.5% - 11%
20 years
Typically 0.5% - 1% of loan amount
EMI & Cost Breakdown
Monthly EMI
For 20 years
Total Payment
Principal + Interest
Total Interest
Interest over loan tenure
Processing Fee
0.5% of loan amount
Loan Ratios & Analysis
Tax Benefits (Annual)
Section 80C Deduction
Principal repayment (max ₹1.5L)
Section 24B Deduction
Interest payment (max ₹2L)
Tax Savings @ 30%
Estimated annual savings
Related Calculators
How to Use
- 1Enter your values in the input fields
- 2Review the calculated results
- 3Use the results for your planning
Frequently Asked Questions
How is home loan EMI calculated in India?
Home loan EMI is calculated using the formula: EMI = [P × R × (1+R)^N] / [(1+R)^N-1], where P is principal, R is monthly interest rate, and N is tenure in months. This gives you the fixed monthly amount to be paid.
What is LTV ratio and how does it affect my home loan?
LTV (Loan-to-Value) ratio is the percentage of property value financed by the loan. For loans up to ₹30 lakhs, LTV can be up to 90%. Higher LTV means lower down payment but may attract higher interest rates.
What is FOIR and why is it important for loan approval?
FOIR (Fixed Obligation to Income Ratio) is the percentage of monthly income used for EMI payments. Lenders prefer FOIR below 60% for salaried and 50% for self-employed individuals to ensure loan affordability.
What tax benefits can I get on home loans?
You can claim deduction up to ₹1.5 lakh on principal repayment (80C) and up to ₹2 lakh on interest payment (24B). First-time buyers can get additional ₹1.5 lakh interest deduction under 80EEA.
How does credit score affect my home loan interest rate?
Credit score significantly impacts interest rates. Scores above 750 can get 0.1-0.25% lower rates, while scores below 650 may attract 0.25-0.5% higher rates or loan rejection. Maintain good credit for better deals.