What is EMI? ▼
Equated Monthly Instalment – fixed monthly payment to lender.
How is EMI calculated? ▼
Using reducing balance formula. Our calculator does it instantly.
What is the benefit of prepayment? ▼
Reduces outstanding principal, saves interest, and shortens tenure.
Does processing fee affect EMI? ▼
Processing fee increases total cost but not EMI (unless added to loan).
Which bank has lowest home loan rate? ▼
Rates vary; SBI, HDFC, ICICI typically 8.5-8.8%. Click bank buttons above.
Can I reduce EMI by prepayment? ▼
Yes, choose "Reduce EMI" option in prepayment settings.
What is amortization schedule? ▼
Year‑wise breakup of principal and interest paid.
Is this calculator accurate for all banks? ▼
Yes, all banks use the same reducing balance formula.
What is the maximum loan tenure? ▼
Typically 30 years for home loans. Our calculator supports 30 years / 360 months.
How to save maximum interest on home loan? ▼
Prepay regularly, choose shorter tenure, negotiate lower rate.