Home Loan EMI Calculator India: How to Calculate Your EMI (2026)
March 2026 · 9 min read
Quick Answer
On a ₹50 lakh home loan at 8.5% for 20 years your EMI is approximately ₹43,391 per month. Use our free EMI calculator to get the exact figure for your loan amount, rate and tenure.
Home Loan EMI Chart — ₹ Lakhs (8.5% Rate)
Here is a quick reference EMI chart for common home loan amounts at 8.5% interest rate.
| Loan Amount | 10 Years | 15 Years | 20 Years | 30 Years |
|---|---|---|---|---|
| ₹20 Lakhs | ₹24,797 | ₹19,693 | ₹17,356 | ₹15,365 |
| ₹30 Lakhs | ₹37,194 | ₹29,539 | ₹26,035 | ₹23,047 |
| ₹50 Lakhs | ₹61,990 | ₹49,231 | ₹43,391 | ₹38,446 |
| ₹75 Lakhs | ₹92,985 | ₹73,847 | ₹65,087 | ₹57,669 |
| ₹1 Crore | ₹1,23,980 | ₹98,463 | ₹86,782 | ₹76,892 |
| ₹1.5 Crore | ₹1,85,970 | ₹1,47,694 | ₹1,30,174 | ₹1,15,338 |
Top Home Loan Rates in India 2026
Compare current home loan interest rates from major Indian banks and HFCs.
| Lender | Starting Rate | Processing Fee | Max Tenure |
|---|---|---|---|
| SBI Home Loan | 8.50% | 0.35% + GST | 30 years |
| HDFC Home Loan | 8.45% | 0.50% + GST | 30 years |
| ICICI Home Loan | 8.75% | 0.50% + GST | 30 years |
| Axis Bank | 8.75% | 1% + GST | 30 years |
| Kotak Mahindra | 8.65% | 0.50% + GST | 20 years |
| LIC Housing Finance | 8.50% | 0.25% + GST | 30 years |
| PNB Housing | 8.50% | 0.50% + GST | 30 years |
Section 80C and 24(b) Tax Benefits Explained
Home loans in India come with significant income tax benefits that effectively reduce your borrowing cost. Under Section 80C you can claim deduction up to ₹1.5 lakh per year on principal repayment. Under Section 24(b) you can claim up to ₹2 lakh per year on interest paid for a self-occupied property. Together these can save ₹1-1.5 lakh in taxes annually for someone in the 30% tax bracket — effectively reducing your net EMI burden significantly.
Calculate Your Home Loan EMI Free
Use our free mortgage calculator — select ₹ Indian Rupee from the currency menu for accurate EMI calculations.
Calculate EMI Free →Frequently Asked Questions
What is the current home loan interest rate in India 2026?
Home loan interest rates in India in 2026 range from 8.35% to 9.5% depending on the lender and your credit score. SBI offers rates from 8.5%, HDFC from 8.45% and ICICI from 8.75% for salaried borrowers with good credit.
How is home loan EMI calculated in India?
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 number of months. For a ₹50 lakh loan at 8.5% for 20 years the EMI is approximately ₹43,391.
What is the maximum home loan I can get in India?
Most banks offer home loans up to 75-90% of the property value. Your eligibility depends on income, credit score and existing obligations. Generally banks allow EMI to be up to 40-50% of your net monthly income.
What tax benefits are available on home loans in India?
Under Section 80C you can claim deduction up to ₹1.5 lakh on principal repayment. Under Section 24(b) you can claim up to ₹2 lakh on interest paid per year for self-occupied property. First-time buyers get additional ₹1.5 lakh deduction under Section 80EEA.
What documents are required for a home loan in India?
You need KYC documents (Aadhaar, PAN), income proof (salary slips, ITR for 2-3 years), bank statements for 6 months, property documents and employment proof. Self-employed borrowers need GST returns and balance sheets.