Home Loan EMI Calculator
Plan your home loan at current bank rates. Rates rose after RBI's October 2026 repo hike.
What you pay each year
Repayment schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹99,511 | ₹4,21,182 | ₹49,00,489 |
| 2 | ₹1,08,307 | ₹4,12,387 | ₹47,92,181 |
| 3 | ₹1,17,881 | ₹4,02,813 | ₹46,74,300 |
| 4 | ₹1,28,300 | ₹3,92,394 | ₹45,46,000 |
| 5 | ₹1,39,641 | ₹3,81,053 | ₹44,06,359 |
| 6 | ₹1,51,984 | ₹3,68,710 | ₹42,54,375 |
| 7 | ₹1,65,418 | ₹3,55,276 | ₹40,88,957 |
| 8 | ₹1,80,039 | ₹3,40,655 | ₹39,08,918 |
| 9 | ₹1,95,953 | ₹3,24,741 | ₹37,12,965 |
| 10 | ₹2,13,274 | ₹3,07,420 | ₹34,99,691 |
| 11 | ₹2,32,125 | ₹2,88,569 | ₹32,67,566 |
| 12 | ₹2,52,643 | ₹2,68,051 | ₹30,14,923 |
| 13 | ₹2,74,974 | ₹2,45,720 | ₹27,39,949 |
| 14 | ₹2,99,279 | ₹2,21,415 | ₹24,40,670 |
| 15 | ₹3,25,733 | ₹1,94,961 | ₹21,14,937 |
| 16 | ₹3,54,525 | ₹1,66,169 | ₹17,60,412 |
| 17 | ₹3,85,862 | ₹1,34,832 | ₹13,74,550 |
| 18 | ₹4,19,968 | ₹1,00,726 | ₹9,54,582 |
| 19 | ₹4,57,090 | ₹63,604 | ₹4,97,492 |
| 20 | ₹4,97,492 | ₹23,202 | ₹0 |
Assumes a fixed rate for the whole home loan tenure. Floating-rate loans change when the repo rate changes.
Home Loan rates as of 5 November 2026
| Lender | Rate a year | Notes |
|---|---|---|
| SBI | 7.50% – 8.80% | Regular home loan, from 15 Oct 2026 |
| ICICI Bank | 8.75% – 9.80% | Up to ₹35 lakh, salaried to self-employed |
| HDFC Bank | 8.00% – 13.45% | Repo + 2.50% to 7.95%, tenure up to 30 years |
Typical fee: about 0.35%–0.5% of the loan plus GST (SBI 0.35% capped at ₹10,000 per aggregators; ICICI 0.5% + tax).
RBI policy rates
- Repo rate
- 5.50%
- SDF
- 5.25%
- MSF
- 5.75%
- Bank rate
- 5.75%
- CRR
- 3.00%
- SLR
- 18.00%
Last change 7 October 2026 (25 bp hike from 5.25%, stance: calibrated tightening). Next meeting 2–4 December 2026.
Source: rbi.org.inFrequently asked questions
How is home loan EMI calculated?
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments. Early EMIs are mostly interest; the principal share grows every month.
Why did loan rates go up in October 2026?
RBI raised the repo rate by 25 basis points to 5.5% on 7 October 2026. Most floating-rate loans are linked to the repo rate (EBLR or RLLR), so banks repriced them from mid-October.
Is a home loan EMI tax-deductible?
Under the old tax regime, interest on a self-occupied home loan is deductible up to ₹2 lakh a year under Section 24(b), and principal up to ₹1.5 lakh under Section 80C. The new regime does not allow these for a self-occupied house.