Home Loan Calculator
Calculate your home loan EMI, total interest payable, and down payment amount. Plan your mortgage affordably with detailed breakdown.
Home Loan Breakdown
What is Home Loan EMI?
EMI (Equated Monthly Installment) is the fixed amount you pay every month to repay your home loan. It includes both principal and interest portions. Initially, more of your EMI goes towards interest, but as you make payments, the principal portion increases.
Key Components
- Property Price: Total cost of the property
- Down Payment: Amount you pay upfront (typically 20-30%)
- Loan Amount: Property price minus down payment
- Interest Rate: Annual percentage charged by bank
- Tenure: Duration to repay (typically 15-20 years)
Current home loan interest rates by lender (verified July 2026)
| Lender | Interest Rate Range (p.a.) |
|---|---|
| State Bank of India (SBI) | 7.25% – 9.05% |
| HDFC Bank | 7.20% onwards |
| ICICI Bank | 7.50% onwards |
| Punjab National Bank (PNB) | 7.20% – 9.30% |
| Bank of India | 7.10% – 10.25% |
| Canara Bank | 7.15% – 10.00% |
| Axis Bank | 8.00% – 11.90% |
Source: published lender rate sheets, compiled via Paisabazaar, verified July 2026. Rates change with RBI repo rate movements and individual credit profile — always confirm the current rate with the lender before applying. See the full rate comparison guide.
How much does a 1% rate difference actually cost?
On a ₹40,00,000 home loan over 20 years:
| Interest Rate | Monthly EMI | Total Interest Over 20 Years |
|---|---|---|
| 7.20% | ₹31,732 | ₹36,15,680 |
| 8.20% | ₹33,984 | ₹41,56,160 |
| 9.20% | ₹36,304 | ₹47,12,960 |
A single percentage point on a 20-year home loan is worth roughly ₹5–5.5 lakh in this example — which is why shopping rates across 3–4 lenders before signing is worth far more than the time it takes.
Prepayment strategy: when it actually saves the most
Because home loan interest is front-loaded under reducing-balance calculation, a lump-sum prepayment in years 1–5 saves dramatically more total interest than the same amount prepaid in years 15–20. If you receive a bonus or windfall, prepaying a floating-rate home loan early in its tenure — with no penalty, by law, for individual borrowers — is usually the highest-return, lowest-risk use of that money available.