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Home Loan EMI Calculator
Disclaimer
Results generated by the calculator(s) are indicative in nature. The interest rate applied on the loan will depend on the prevailing rates at the time of loan booking.
The calculator(s) is not intended to provide its users/ customers with results that are either certified by Bajaj Finance Limited (“BFL”) or are an obligation, assurance, warranty, undertaking or commitment, financial and professional advice by BFL, under any circumstances. The calculator(s) is only a tool that assists the users/ customers arrive at the results of various illustrative scenarios generated from data input by the user/ customer. The use of the calculator is entirely at the risk of the user/ customer, BFL is not responsible for any reason, for any errors in any outcome resulting from the use of the calculator.
Home Loan EMI Calculator - Calculate your housing loan EMI online
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In 2026, many Indian borrowers rely on a home loan EMI calculator to understand how changing property prices and fluctuating home loan interest rates can affect their monthly payments. The Bajaj Finance Home Loan EMI Calculator allows you to quickly estimate your instalments in just a few clicks. By entering the loan amount, interest rate, and tenure, you can instantly view your expected EMI and plan repayments more effectively. This clarity helps you budget with confidence before committing to a long-term financial responsibility.
Using a home loan calculator at the beginning of your journey also improves your financial awareness. When you clearly understand how much you will repay every month, you are in a stronger position to negotiate and secure a competitive home loan interest rate. Lenders are often more comfortable offering favourable terms to borrowers who demonstrate a well-planned and informed approach towards their financial future.
For first-time buyers, understanding the complete cost of owning a home can be challenging. Monthly instalments, interest payments, and long repayment periods can feel overwhelming without proper planning. The EMI calculator gives you a realistic view of your repayment structure, with EMIs starting from Rs. 671/lakh*, at an interest rate of 7.25% p.a.* With flexible repayment options and a top-up loan facility, Bajaj Finance helps you manage your housing loan comfortably while planning your financial future with greater certainty.
Home loan amortization scheduleLet’s assume you take a home loan of Rs. 30 lakh for 30 years at an interest rate of 8.50% p.a. The table below shows a sample amortization schedule, detailing how your repayments will be split between principal and interest over time.
Year
Opening Balance
EMI*12
Interest paid yearly
Principal paid yearly
Closing Balance
1
30,00,000
2,76,809
2,54,130
22,679
29,77,321
2
29,77,321
2,76,809
2,52,125
24,683
29,52,638
3
29,52,638
2,76,809
2,49,944
26,865
29,25,772
4
29,25,772
2,76,809
2,47,569
29,240
28,96,532
5
28,96,532
2,76,809
2,44,984
31,824
28,64,708
6
28,64,708
2,76,809
2,42,171
34,637
28,30,071
7
28,30,071
2,76,809
2,39,110
37,699
27,92,371
8
27,92,371
2,76,809
2,35,778
41,031
27,51,340
9
27,51,340
2,76,809
2,32,151
44,658
27,06,682
10
27,06,682
2,76,809
2,28,203
48,606
26,58,076
11
26,58,076
2,76,809
2,23,907
52,902
26,05,175
12
26,05,175
2,76,809
2,19,231
57,578
25,47,597
13
25,47,597
2,76,809
2,14,142
62,667
24,84,930
14
24,84,930
2,76,809
2,08,602
68,206
24,16,723
15
24,16,723
2,76,809
2,02,574
74,235
23,42,488
16
23,42,488
2,76,809
1,96,012
80,797
22,61,691
17
22,61,691
2,76,809
1,88,870
87,939
21,73,752
18
21,73,752
2,76,809
1,81,097
95,712
20,78,041
19
20,78,041
2,76,809
1,72,637
1,04,172
19,73,869
20
19,73,869
2,76,809
1,63,429
1,13,380
18,60,489
21
18,60,489
2,76,809
1,53,408
1,23,401
17,37,088
22
17,37,088
2,76,809
1,42,500
1,34,309
16,02,779
23
16,02,779
2,76,809
1,30,628
1,46,180
14,56,599
24
14,56,599
2,76,809
1,17,707
1,59,102
12,97,497
25
12,97,497
2,76,809
1,03,644
1,73,165
11,24,333
26
11,24,333
2,76,809
88,338
1,88,471
9,35,862
27
9,35,862
2,76,809
71,679
2,05,130
7,30,732
28
7,30,732
2,76,809
53,547
2,23,262
5,07,470
29
5,07,470
2,76,809
33,813
2,42,996
2,64,474
30
2,64,474
2,76,809
12,334
2,64,474
0
What is a home loan EMI calculator?
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A home loan EMI calculator is an online tool that helps you work out your monthly home loan instalment in advance. By entering basic details such as the loan amount, interest rate and tenure, you can quickly see your expected EMI. This makes it easier to plan your finances, set a realistic budget, and understand your repayment commitment before applying for a home loan.
What is home loan EMI?Home Loan EMI refers to the Equated Monthly Instalment that you pay to your lender every month. Each EMI includes the repayment of the principal amount along with interest charged on the outstanding amount of your home loan. The EMI amount depends on the loan value, interest rate and tenure. Choosing a longer repayment period can help lower the monthly burden.
Planning to purchase a home? Know how EMI calculation helps youIf you are planning a home purchase, understanding your monthly repayment in advance can make the process smoother and less stressful. Using Bajaj Finance’s Home Loan EMI calculator allows you to check how much you may need to pay every month towards your housing loan. By entering the loan amount, interest rate, and tenure, you can estimate the loan amount that fits your budget comfortably. This also supports the calculation of home loan eligibility, as lenders assess your repayment capacity before approving funds. Knowing your EMI early helps you plan savings, manage expenses wisely, and move ahead with confidence in your home purchase journey.
How to use Bajaj Finance Home Loan EMI Calculator?
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Steps to calculate your home loan EMIs using the home loan EMI calculator:
- Enter loan details – Input the loan amount, interest rate, and repayment tenure.
- View results – Instantly check your EMI amount, total interest payable, and total payment (principal + interest).
- Adjust as needed – Modify the loan amount, interest rate, or tenure to find an EMI plan that suits your budget.
Illustration: How is EMI Calculated on a Home Loan?
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Home loan EMI calculation formula
EMI = P x R x (1+R)^N / [(1+R)^N-1]where, P = Principal amount, N = Loan tenure in months, and R = Monthly interest rate
Home loan EMI calculation example
If the annual rate of interest is 8.5%, the value of ‘R’ will be 8.5/ (12 x 100) = 0.00708On availing of a housing loan of Rs. 40 lakh at an annual interest rate of 8.50% for a tenure of 240 months (20 years), the EMI will be calculated as:
EMI = 40,00,000 * 0.00708 * (1 + 0.00708)^240 / ((1 + 0.00708)^240 - 1) = Rs. 34,713
Calculation for Rs. 40 lakh home loan
Principal loan amount
Rs. 40 lakh
Home loan interest rate
8.50% p.a.
Tenure
20 Years
EMI
Rs. 34,713
Total interest paid
Rs. 43,31,103
Total payable amount (EMI * tenure in months)
Rs. 83,31,103
What are the features and benefits of Bajaj Finance home loan EMI calculator?
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Our home loan calculator is designed to simplify your financial planning by providing accurate EMI calculations. Here are the key features and benefits:
- Ease of use: The calculator is user-friendly, requiring minimal input to generate precise EMI figures. Simply enter the loan amount, interest rate, and tenure to get instant results.
- Financial planning: Understand the total interest payable over the loan tenure, enabling better financial planning and management of other expenses.
- Time-saving: Quickly calculates EMIs without the need for complex manual computations, saving you valuable time and effort.
- Transparency: Offers a clear breakdown of principal and interest components, ensuring transparency in your financial commitments.
Using our home loan calculator, you can make informed decisions, ensuring a smoother and more manageable home loan experience.
How can a home loan EMI calculator help you?
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A home loan EMI calculator in India is a simple yet powerful tool that helps you plan your monthly repayments with ease. By entering basic details like the loan amount, interest rate on home loan, and repayment tenure, you can get instant home loan EMI calculations.
This tool saves you from complex manual math by automatically showing your monthly Equated Monthly Instalment, total interest payable, and overall payment amount. A housing loan EMI calculator also allows you to experiment with different values, helping you choose the most affordable plan. Whether you are comparing loan offers or trying to budget effectively, this calculator gives you a clear picture before you apply for a home loan.
Features and benefits of our home loan
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- Loan of up to Rs. 15 Crore*
Buying a home is one of the biggest milestones. Achieve it with a sizeable amount of up to Rs. 15 Crore*. - Low interest rates
With our loan interest rates starting at 7.25% p.a.*, pay EMIs as low as Rs. 671/lakh*. - Approval in 48 Hours*
Your loan application will be approved within 48 Hours* of your application, in some cases, even earlier. - Tenure of up to 32 years*
Pay back your loan comfortably with our long repayment tenure ranging up to 32 years*. - No foreclosure fee for individuals
Individual borrowers who choose a floating interest rate can foreclose the entire amount or prepay a part of the loan without paying an additional fee. - Hassle-free application
Our doorstep document pick-up service helps to skip numerous branch visits and enables an easy application process. - Balance Transfer facility
Benefit from our home loan balance transfer facility and be eligible for a top-up loan of up to Rs. 1 crore* or higher. - 5000+ approved projects
Choose from our 5000+ approved projects to avail of a quick loan. - Externally benchmarked interest rates
You can opt for interest rates linked to an external benchmark, such as the repo rate to benefit during favourable market conditions.
*Terms and conditions apply
- Loan of up to Rs. 15 Crore*
Eligibility criteria and documents required
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Anyone can apply for our home loan as long as they meet the criteria mentioned below.
Eligibility criteria
- Nationality:
You must be an Indian citizen residing in India. - Age:
A salaried applicant must be between 23 years to 67 years, and a self-employed professional must be between 23 years to 70 years
*The upper age limit is considered as the age at the time of loan maturity. - CIBIL Score:
A CIBIL Score of 725 or higher is ideal to get a home loan. - Occupation:
Salaried employee, a professional individual, and a self-employed individual.
Documents required
- KYC documents (identity and address proof)
- Proof of income (salary slips or P&L statement)
- Proof of business (for self-employed applicants), and
- Account statements for the last 6 months
Note: This is an indicative list that may change based on your actual loan application.
- Nationality:
Frequently asked questions
Overview
Calculation
Managing EMIs starts with choosing an affordable repayment plan. For example, with a Rs. 30,00,000 loan at 7.35% for 20 years, EMI ≈ Rs. 23,836. Ensure your EMI is no more than 40–45% of your monthly income, keep an emergency fund, and consider part-prepayments when possible. Tracking the interest rate on home loan can help you decide if refinancing makes sense.
Yes. Increasing EMIs helps close the loan faster and save on interest. Suppose your current EMI for a Rs. 20,00,000 loan at 7.35% for 20 years is Rs. 15,891. Increasing it to Rs. 20,000 could help you finish the loan years earlier, reducing total interest paid. A home loan EMI calculator shows exactly how much you can save.
For a Rs. 30,00,000 home loan at 7.35% p.a. for 15 years (180 months), R = 0.006125. EMI ≈ Rs. 27,526. Total repayment will be about Rs. 49.55 lakh, including Rs. 19.55 lakh in interest. With a housing loan EMI calculator, you can quickly experiment with tenure and amount to see what works for your budget.
A home loan amortisation schedule is a detailed table showing the split of each EMI into principal and interest over time. For example, for a Rs. 25,00,000 loan at 7.35% for 10 years, early EMIs will have a higher interest portion, while later EMIs focus more on principal repayment. Many home loan EMI calculators in India also generate this schedule for easy reference.
The EMI for a Rs. 70 lakh home loan depends on the interest rate and loan tenure you choose. For example, at an interest rate between 8.5% and 9.5% for 20 years, the EMI may range from around Rs. 60,800 to Rs. 66,000. If you select a longer tenure of 30 years at about 9%, the EMI could reduce to approximately Rs. 56,000–Rs. 57,000. A longer tenure lowers monthly payments but increases total interest paid.
Lenders usually consider your repayment ability and existing financial commitments before approving a loan. As a general guideline, you may be eligible for a home loan of up to 60 times your net monthly income. With a salary of Rs. 70,000, the loan amount could range between Rs. 30 lakh and Rs. 45 lakh, depending on factors such as credit score, age, liabilities, and employment stability.
To qualify for a Rs. 10 lakh home loan, applicants must meet certain income and eligibility conditions. Salaried individuals typically need a minimum monthly income of Rs. 20,000 in metro cities such as Delhi, Mumbai, Bengaluru, Pune, and Chennai, and Rs. 15,000 in other cities. Salaried applicants should have at least 2 years of work experience, while self-employed individuals must show 3 years of stable business continuity. Age criteria also apply.
From 01 April 2026, several well-known income tax forms will be given new numbers under the Income-tax Act, 2025. For instance, Form 16 is expected to be renamed as Form 130, while Form 26AS may be called Form 168. This update is part of a wider effort to reorganise and simplify the tax system. Although the forms’ purpose remains similar, taxpayers may need time to adjust to the revised numbering system.
The decision to rename Form 16 and Form 26AS comes from changes introduced through the Income-tax Act, 2025. Over time, frequent amendments made the numbering structure complicated. The new numbering format aims to make the law more organised and easier to follow in the future. While the basic role of these forms will not change significantly, the updated numbering will bring better consistency across legal provisions and online tax systems.
The revised form numbers are expected to come into effect from Tax Year 2026–27, beginning on 01 April 2026. Any compliance requirements, employer-issued certificates, or official tax communications relating to this period are likely to use the new numbering pattern. However, implementation will depend on final government notifications and updates to the income tax portal. Official confirmation and system readiness will determine the exact rollout timeline.
Yes, earlier financial years will continue to follow the existing system. Any proceedings connected to periods before 01 April 2026 will remain governed by the Income-tax Act, 1961. This means references such as Form 16 and Form 26AS will still apply for Financial Year 2025–26 and earlier. The law includes specific provisions to ensure there is no confusion or disruption during the transition to the updated framework.
For salaried employees, the details within Form 16 are not expected to change much, even though it may be renamed Form 130. However, the new name could initially create some uncertainty. Employers will need to revise payroll software, reporting processes, and employee communication materials. Over time, as systems are updated and awareness improves, the shift should become smooth and manageable for both employers and employees.
Yes, there may be a period when both the existing and revised form numbers are used together. The applicable form will depend on the relevant financial year rather than the issue date. For example, documents linked to years before 01 April 2026 may continue under the old numbering. This temporary overlap is intended to maintain continuity and avoid disruption during the transition phase.
The draft Income-tax Rules, 2026 are currently under review, and final approval from Parliament is awaited. Authorities have indicated that updated rules, revised form formats, and detailed FAQs will be issued soon. These clarifications are expected to explain how the new numbering system will apply, outline transitional arrangements, and guide employers and taxpayers on compliance procedures under the revised tax structure.
For a Rs. 20,00,000 home loan at 7.35% p.a. for 15 years (180 months), the monthly interest rate (R) is 0.006125. Using the EMI formula, EMI = [20,00,000 × 0.006125 × (1+0.006125)^180] ÷ [(1+0.006125)^180 – 1], the EMI is about Rs. 18,350. Over 15 years, the total repayment is approximately Rs. 33.03 lakh, including ₹13.03 lakh as interest. You can use a home loan EMI calculator in India to instantly verify these numbers and compare with different tenures.
For a Rs. 25,00,000 loan at 7.35% p.a. for 20 years (240 months), R = 0.006125. EMI works out to around Rs. 19,863. Over the tenure, you will repay Rs. 47.67 lakh in total, with Rs. 22.67 lakh being interest. If you reduce the tenure, you’ll save on interest but pay a higher EMI. A housing loan EMI calculator helps you check such scenarios before finalising your repayment plan.
For a Rs. 10,00,000 loan at 7.35% p.a. for 5 years (60 months), R = 0.006125. The EMI is approximately Rs. 19,933. Across 5 years, your total repayment will be Rs. 11.96 lakh, including Rs. 1.96 lakh in interest. Shorter tenures have higher EMIs but lower total interest costs, something you can easily verify using a home loan EMI calculator.
For a Rs. 17,00,000 loan at 7.35% p.a. for 20 years (240 months), R = 0.006125. EMI ≈ Rs. 13,504. Over the tenure, the total repayment will be about Rs. 32.44 lakh, with Rs. 15.44 lakh as interest. A home loan EMI calculator lets you quickly see how adjusting the tenure or loan amount impacts your monthly outflow.
For a Rs. 25,00,000 loan at 7.35% p.a. for 10 years (120 months), R = 0.006125. EMI is about Rs. 29,381. Over 10 years, the total repayment will be Rs. 35.26 lakh, including Rs. 10.26 lakh as interest. Using a housing loan EMI calculator shows how shorter tenures increase EMIs but significantly reduce interest paid.
For a Rs. 10,00,000 home loan at 7.35% p.a. for 10 years (120 months), R = 0.006125. The EMI is roughly Rs. 11,752. Over the tenure, you’ll pay Rs. 14.10 lakh in total, with Rs. 4.10 lakh as interest. You can check similar calculations for other amounts instantly using a home loan EMI calculator in India.
For a Rs. 50,00,000 loan at 7.35% p.a. for 25 years (300 months), R = 0.006125. EMI comes to about Rs. 36,359. Over the tenure, your total repayment will be ₹1.09 crore, with Rs. 59.27 lakh as interest. Longer tenures mean lower EMIs but higher overall interest, something you can test with a housing loan EMI calculator.
Disclaimer
Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.