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Home Loan EMI Calculator

Calculate your home loan EMI with current rates from SBI, HDFC, ICICI and major Indian banks

🏠Home Loan Details

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Current home loan rates: 8.35% - 9.50%

📊EMI Breakdown

Monthly EMI
₹26,035
Loan Amount₹30,00,000
Total Interest₹32,48,494
Total Payment₹62,48,494
Tenure20 years (240 months)

🏦Indian Home Loan Rates (2026)

Approximate rates. Women borrowers often get -0.05% concession.

BankSalariedSelf-employedProcessing Fee
SBI8.50% - 9.10%8.65% - 9.25%0.35% (max ₹10,000)
HDFC8.55% - 9.40%8.75% - 9.50%0.50% + GST
ICICI8.75% - 9.65%9.00% - 10.00%0.50% - 1.00%
Axis Bank8.75% - 9.40%9.00% - 9.65%1% + GST
Kotak8.70% - 9.50%8.85% - 9.65%0.50% - 2%
LIC HFL8.50% - 9.40%8.65% - 9.65%₹10,000 + GST

Frequently Asked Questions

How is home loan EMI calculated? +
EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P = loan amount, r = monthly rate (annual/12/100), n = tenure in months. For ₹30L at 8.5% for 20 years, EMI = ₹26,035.
What are home loan eligibility criteria in India? +
Age 21-65, monthly income ₹25,000+, CIBIL score 750+, employment for 2+ years (salaried) or 3+ years business (self-employed). Banks lend up to 60x your monthly net income or 80% of property value (LTV).
Can I get tax benefits on home loan? +
Yes! Section 80C: Principal repayment up to ₹1.5 lakh/year. Section 24(b): Interest up to ₹2 lakh/year for self-occupied house. Section 80EEA: Additional ₹1.5 lakh for first-time buyers (conditions apply).
Should I prepay home loan or invest? +
Compare your loan rate (8.5%) vs investment returns. If you can earn >10% from mutual funds, investing wins. If returns are <8%, prepayment saves more. Also consider tax benefits — interest deduction reduces effective cost. Generally, partial prepayment in early years saves the most interest.
Fixed vs Floating rate home loan? +
Floating: Rate changes with RBI repo rate. Lower initially, can save if rates fall. Best for 90% borrowers. Fixed: Locked rate, predictable EMI. 0.5-1% higher than floating. Best if you expect rate hikes. Most banks offer floating only.
What documents needed for home loan? +
Identity: Aadhaar, PAN. Address: Aadhaar/Passport/Utility bill. Income: 3 months salary slips, 6 months bank statements, Form 16, ITR (3 years). Property: Sale deed, NOC, approved plan. Self-employed: Business proof, audited financials, tax returns.
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Important Financial Disclaimer

This calculator is for informational purposes only. Results are estimates based on inputs and should NOT be considered as financial or legal advice.

  • 💼 Consult a financial advisor or your bank before taking any loan decision.
  • 📊 Bank rates and EMI shown are indicative. Your actual rate depends on credit score, income, employment, and bank policy.
  • 📋 Calculations may not include processing fees, GST, prepayment charges, late fees, insurance, legal charges.
  • ⚖️ Loan eligibility criteria vary across banks. Always check the bank's official website for current terms.
  • 🔄 Interest rates change frequently based on RBI repo rate. Verify current rates before applying.

By using this calculator, you agree that KaamKaTool.in is not liable for any financial decisions or losses based on this information. Use at your own discretion.