Free tool
Home loan EMI calculator
See your monthly instalment, the total interest and what you repay over the loan, or turn it round and see how much you can borrow for the EMI you can afford. Rupees for India, dirhams for Dubai.
Calculator
The starting figures are examples only. Use the rate and tenure your lender offers you.
Monthly EMI
₹65,087
- Total interest
- ₹81,20,818
- Total you repay
- ₹1,56,20,818
Need an ordinary calculator for other sums? Open the calculator.
How the EMI is worked out
Home loans in India and the UAE are usually repaid on a reducing balance: each instalment pays the month's interest on what you still owe, and the rest reduces the loan. The standard formula is EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1), where P is the loan amount, r the monthly interest rate (the yearly rate divided by 12 and by 100) and n the number of monthly instalments.
In the early years most of each instalment is interest; in the later years most of it repays the loan. That is why a part-prepayment early in the loan saves far more interest than the same amount paid near the end.
Before you take the number to a lender
- Lenders cap the EMI at a share of your income and count your existing loans, so get an eligibility letter before you book.
- The loan covers part of the property value; the down payment, stamp duty, registration and other costs come from your own funds.
- Ask whether the rate is fixed or floating, what it is linked to, and the charges for prepayment or switching.
- For an under-construction home, interest during construction depends on how much has been disbursed, not the full loan.
Read our guides on getting a home loan before you buy and the hidden costs of buying property in Mumbai, or buying in Dubai from India.
Questions buyers ask
What is an EMI?
An equated monthly instalment (EMI) is the fixed amount you pay your lender every month. Each EMI covers that month's interest on the outstanding loan and repays part of the loan itself.
Does a longer tenure reduce my EMI?
Yes, a longer tenure lowers the monthly instalment, but you pay interest for longer, so the total interest rises. Compare the total you repay, not only the EMI.
Is the EMI the same for an under-construction flat?
Not at first. During construction the bank releases the loan in stages, and you usually pay interest only on what has been released (pre-EMI) until the full loan is disbursed. Some lenders let you start the full EMI earlier.
Can I use this calculator for a Dubai mortgage?
Yes. Choose AED and enter the rate and tenure your UAE lender offers. UAE lenders also set a maximum loan-to-value for each buyer type, so the loan amount you can get depends on the property value and your residency status.
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This page is general information, not legal, tax or financial advice. Rates, thresholds and rules change, so confirm them with the relevant authority or a qualified professional before you decide.