Mortgage Calculator
Home loan monthly payment & amortization
Quick Answer — Home Loan EMI
For a ₹50 Lakh home loan at 8.5% for 20 years, the monthly EMI is approximately ₹43,391. Total interest paid over the tenure: ₹54.14 Lakh. Prepaying even small amounts can save lakhs in interest.
Maintained by: Sagar Sahni, Calc Labz | Review: formula checks, worked examples, and periodic updates
Use with care: Finance and tax outputs are planning estimates only and should be checked against current rules.
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Formula & Worked Example
The math behind the Mortgage Calculator
Mathematical Formula
EMI = P \cdot r \cdot \frac{(1+r)^n}{(1+r)^n - 1}Step-by-Step Worked Example
Frequently Asked Questions
Common questions about the Mortgage Calculator
What is the current home loan interest rate in India?
How does prepayment save interest on a home loan?
What is an amortization schedule?
What is the maximum home loan tenure in India?
Should I choose fixed or floating interest rate?
What is the Mortgage Calculator?
The Mortgage Calculator estimates your monthly home loan payment and total interest over the loan tenure. It provides a complete amortization schedule showing how each EMI is split between principal and interest. Essential for home buyers planning their budget and comparing loan offers from different banks.
How to Use the Mortgage Calculator
- Enter Loan Amount: Enter your loan amount in Indian Rupees (₹) in the input field. The calculator will validate your input automatically.
- Enter Interest Rate: Enter your interest rate (in %) in the input field. The calculator will validate your input automatically.
- Enter Term: Enter your term (in years) in the input field. The calculator will validate your input automatically.
- View Your Results: The Mortgage Calculator displays your results instantly in the output panel. You will see the primary result along with a detailed breakdown of secondary outputs. Scroll down for charts, interpretations, and expert advice.
Key Features
- Instant Mortgage calculations with real-time updates
- No signup, no registration — 100% free forever
- All calculations happen in your browser — zero data sent to servers
- Works offline as a Progressive Web App (PWA)
- Mobile-friendly responsive design
- Verified financial formulas updated for 2026
Why Use Calc Labz Mortgage Calculator?
The Calc Labz Mortgage Calculator stands out because it combines accuracy with simplicity. Unlike other online calculators, we provide detailed breakdowns, step-by-step formulas, and actionable advice alongside your results. Our financial calculators are regularly updated to reflect current rates, rules, and standards for India (2026). Whether you are a student, professional, or just need a quick calculation — Calc Labz delivers reliable results instantly.
Key Terms & Glossary
- Principal
- The original amount of money borrowed or invested, before any interest is applied.
- Interest Rate
- The percentage charged on borrowed money or earned on invested money, usually expressed per annum.
- Compound Interest
- Interest calculated on both the initial principal and previously accumulated interest — "interest on interest."
- Amortization
- The process of spreading loan repayment into equal installments over a fixed period.
- Maturity
- The date on which a financial instrument (FD, bond, PPF) reaches its full term and the principal is returned.
- CAGR
- Compound Annual Growth Rate — the smoothed annual rate of return on an investment over a specified period.
Sources & References
Our Mortgage Calculator uses formulas and guidelines from the following authoritative sources: