Plan your dream home purchase! Calculate EMI, total interest, and see your complete loan repayment schedule.
Even small prepayments of ₹1 lakh/year can save lakhs in interest and reduce tenure by years.
A 15-year loan vs 25-year can save you 30-40% in total interest paid.
A 0.5% lower rate on ₹50L loan saves ₹4-5 lakhs over the loan tenure.
EMI (Equated Monthly Installment) 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. Our calculator does this automatically for you.
Currently, good home loan rates in India range from 8.25% to 9.5% for salaried individuals. Rates depend on your credit score, loan amount, property type, and the lender. Always compare multiple banks before deciding.
Floating rates are usually 0.5-1% lower than fixed rates and allow you to benefit when RBI cuts rates. However, they can increase too. For long tenures (15+ years), floating is generally preferred as rates tend to average out.
Banks typically offer 75-90% of property value as loan. Your eligibility depends on income, existing EMIs, credit score, and age. A general rule: your total EMIs shouldn't exceed 50-60% of your monthly income.