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Use the interactive tool below. Scroll down for formula, example, and key terms.
Where: P = Principal, r = monthly interest rate, n = tenure in months.
Loan: ₹50,00,000 @ 8.5% p.a. for 20 years
Monthly EMI = ₹43,391
Total Interest = ₹5,413,840
Total Payment = ₹10,413,840
Understanding your EMI through this calculator helps you plan your finances better. Always compare offers from multiple lenders and consider both fixed and floating interest rate options before choosing a home loan.
| Criterion | Requirement |
|---|---|
| Age | 21 – 65 years (at loan maturity) |
| Nationality | Indian Citizen / NRI |
| Employment | Salaried / Self-Employed |
| Income | Min. ₹25,000/month (varies by city) |
| Credit Score | 650+ (750+ preferred) |
| Work Experience | Salaried: 2+ years; Self-employed: 3+ years |
| Property Type | Residential (under approved societies/builders) |
| Component | Amount |
|---|---|
| Processing Fee | 0.5% – 1% of loan amount |
| Administration Fee | ₹5,000 – ₹15,000 |
| Legal & Technical Fee | As per actual (₹5,000 – ₹20,000) |
| CERSAI Charges | ₹50 – ₹100 |
| Stamp Duty & Registration | State-dependent (usually 0.5% – 2%) |
| Prepayment / Foreclosure Charges | 0% – 2% (Nil for floating rate loans) |
| Late Payment Penalty | 2% per month on overdue EMI |
Following the RBI's decision to reduce the repo rate from 5.50% to 5.25%, six prominent lenders — including HDFC Bank, PNB, and Bank of Baroda — have revised their benchmark lending rates. Offers now start as low as 7.10%, reducing EMIs meaningfully for new borrowers.
Read Full Story →The Reserve Bank of India delivered a 25-basis-point rate cut in its December meeting, bringing the repo rate to 5.25%. The central bank also announced bond purchase operations and a dollar-rupee swap to improve system liquidity and support credit growth.
Read Full Story →SBI revised its home loan interest rates upward by 25 basis points, pushing the upper band to 8.70%. Analysts attribute the move to margin pressures, and predict other public sector banks may follow suit — signalling a potential rise in borrowing costs ahead.
Read Full Story →SBI lowered its Repo Linked Lending Rate to 7.75% and its EBLR to 8.15%, effective 15 June 2025, in response to the RBI's cumulative 50-basis-point rate reduction. Fixed deposit rates were also trimmed. Analysts expect a revival in home loan demand in the coming quarters.
Read Full Story →A home loan is a secured loan taken by individuals to purchase, construct, renovate, or extend a residential property. The property itself serves as collateral. Home loans typically have long tenures (up to 30 years) and offer tax benefits under the Income Tax Act.
Instant housing loan access across India at the most competitive interest rates.
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