EMI Calculator

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.

For a ₹50L loan at 8.5% for 20 years (240 months), the EMI is approximately ₹43,391.

Yes — by increasing tenure, negotiating a lower rate, or making prepayments. Even a 0.5% rate reduction saves significantly over 20 years.

Banks typically approve loans where total EMIs are below 40–50% of monthly income. Keeping EMIs below 30% is advisable for financial health.

You can choose either. Reducing tenure saves more interest. Most financial advisors recommend reducing tenure for home loans.

Processing fees range from 0.25% to 1% of the loan amount, depending on the lender. SBI charges 0.35%, HDFC charges 0.5–1.50%.

Yes. Under Section 24(b), up to ₹2 lakh per year in home loan interest is deductible under the old tax regime.

Floating rates change with RBI repo rate changes (most home loans in India are floating). Fixed rates are locked but typically higher.