Home Loan EMI Calculator India 2026 | Mortgage, Tax & Prepayment

🏠 Home Loan EMI Calculator India 2026

Mortgage & Home Loan EMI Calculator with Tax Benefits

✦ RBI 2026 Rules ✦ Prepayment Savings ✦ Section 24B Tax Benefit ✦ Full Amortization ✦ Affordability Check

This home loan EMI calculator is India’s most complete tool: instant EMI, full schedule, prepayment, tax deduction & affordability. Presets for SBI, HDFC, ICICI, Axis & more. Compare with our Mortgage Calculator India for advanced planning.

Updated April 2026 · Based on RBI / Income Tax Act 1961 · RBI External Benchmark Guidelines

Loan Type

🏡 Home Loan

🏢 Loan Against Property

⬆️ Top-Up Loan

🏦 Bank Rate Presets (2026)

💰 Loan Amount ₹30,00,000

📊 Interest Rate (% p.a.) 8.75%

⏳ Loan Tenure (Years) 20 yrs

Fixed Rate Loan

Monthly EMI

₹43,391

Principal ₹30L | 8.75% | 20 yrs | Floating

Principal

₹30.0L

Total Interest

₹44.1L

Total Payment

₹74.1L

Tax Saving /yr

₹1,05,000

📅 Amortization Schedule

⚡ Quick EMI Lookup — At Your Selected Rate (8.75%)

💳 Prepayment Impact Calculator

Prepayment Amount (₹)

After Month No.

Interest saved: ₹ — | Months reduced: — | New closure: — | Total savings: —

RBI: zero prepayment penalty on floating rate home loans.

🛡️ Section 24B & 80C Home Loan Tax Benefit Calculator

Available under the Old Tax Regime only. Compare with our Income Tax Calculator India.

⚠️ Under New Tax Regime (Default from FY 2024-25): Section 24B and 80C deductions are NOT available. Use our Income Tax Calculator to compare.

👨‍💼 Home Loan Affordability Calculator

Banks allow EMI up to 40–50% of net income. For detailed assessment, use Loan Eligibility Calculator India.

Your Net Monthly Income (₹)

EMI-to-Income Ratio (FOIR %)

Max EMI: ₹60,000 | Your EMI: ₹44,186 | ✅ Comfortably affordable

💡 Required Income Formula: Minimum net monthly income = Current EMI ÷ FOIR. For ₹50L at 8.75% (EMI ≈ ₹43,391), you need ₹86,782/month at 50% FOIR.

🏦 Home Loan Interest Rates — All Major Banks India 2026

Bank / Lender	Min Rate	Max Rate	Processing Fee	Max Tenure
State Bank of India	8.50%	9.85%	0.35%	30 yrs
Bank of India	8.25%	10.00%	0.25%	30 yrs
Canara Bank	8.40%	11.25%	0.50%	30 yrs
LIC Housing Finance	8.35%	10.75%	Nil-0.50%	30 yrs
HDFC Bank	8.75%	9.75%	0.50%	30 yrs

⚠️ Rate Advisory: Rates linked to RBI repo. RBI notification on external benchmark.

📖 What is a Home Loan EMI Calculator?

A home loan EMI calculator helps you compute monthly installments instantly. Use our Mortgage Calculator India for detailed planning, and check Credit Score Impact on rates.

EMI Formula: EMI = [P × R × (1+R)^N] / [(1+R)^N – 1]

⚖️ Fixed vs Floating Rate Home Loan — Which is Better in 2026?

Parameter	Fixed Rate	Floating Rate (RLLR-linked)
Interest Rate Stability	Fixed	Changes with repo
Prepayment Penalty	2–3%	NIL (RBI mandate)

Check PPF vs ELSS Calculator for investment alternatives.

📏 LTV Ratio — How Much Can You Borrow?

Property Value	Max LTV
Up to ₹30L	90%
₹30L–75L	80%

Also calculate Stamp Duty & Registration costs.

📋 Home Loan Documents Required — 2026 Checklist

Salaried: Aadhaar, PAN, salary slips. Self-employed: ITR 3y, CA financials.

🔄 Home Loan Balance Transfer — When It Makes Sense

Use our FD Calculator to compare opportunity cost.

🏠 PMAY (Pradhan Mantri Awas Yojana) — 2024–2026 Update

CLSS expired. PMAY-Urban 2.0 direct subsidy.

🔗 Related Indian Financial Calculators

India Inflation Calculator Income Tax Calculator Stamp Duty Calculator PPF vs ELSS NRE vs NRO Tax Rental Yield Mutual Fund Overlap FD Calculator NPS Calculator Loan Eligibility Credit Score Impact Cost of Living

⚠️ Disclaimer: This home loan EMI calculator provides estimates only. Consult a professional advisor.

❓ Home Loan EMI — Frequently Asked Questions

✅ EMI updated