Tools
EMI Calculator
See your monthly EMI, total interest, tax savings, and how much you save by prepaying. No fluff, no loan-aggregator spam.
Property price
₹
₹80.00 L
Down payment %
%
= ₹16.00 L
Interest rate
% p.a.
e.g. SBI, HDFC ~8.5%
Tenure
years
240 months
Monthly EMI
₹55,541
For 240 months at 8.5%
Loan amount
₹64.00 L
Total interest
₹69.30 L
Total payable
₹1.33 Cr
Tenure
20 years
Section 80C + 24(b)
Your tax savings (Year 1)
Home loans give you deductions on principal (80C, cap ₹1.5L) and interest (24b, cap ₹2L for self-occupied).
Your income-tax slab
% slab
Section 80C (principal)
₹1.27 L
You paid ₹1.27 L this year; cap ₹1.5L
Section 24(b) (interest)
₹2.00 L
You paid ₹5.39 L this year; cap ₹2L
Total deduction
₹3.27 L
Tax saved (year 1)
₹98,212
at 30% slab
Prepay & save
What if you pay extra?
Even a small extra amount each month dramatically cuts your interest and loan tenure.
Extra per month
₹
Interest saved
₹14.80 L
Months saved
44 months (3 yr 8 mo)
New tenure
16 yr 4 mo
Effective monthly cost
₹60,541
BharatLocal tips
- • Your EMI should be under 40% of your monthly income to stay financially comfortable.
- • Round-up your EMI by ₹500–2000 to save up to 20% in total interest.
- • Use your annual bonus for a lump-sum prepayment — one pre-payment per year can shave off 2–3 years of tenure.
- • First-time home buyers can also claim Section 80EEA (additional ₹1.5L interest deduction) if loan is under ₹35L and property value under ₹45L.