Loan Calculators
15+ Tools for smart borrowing
Loan calculators compute the monthly EMI, total interest, and amortisation schedule for any loan using EMI = P × r × (1+r)^n ÷ ((1+r)^n – 1). In India, home loan rates range from 8.50%–9.25% p.a. (June 2026) — a 0.5% rate difference on a ₹50 lakh 20-year loan changes the total interest outgo by ₹5.8 lakh, making accurate comparison essential.
📊 Loan Calculators — Key Data
- RBI March 2025: Outstanding home loan portfolio: ₹32.2 lakh crore, growing 14% YoY. Average ticket size: ₹35–37 lakh.
- RBI MCLR June 2026: SBI home loan rate: 8.50% p.a. starting. HDFC Bank: 8.70%. NHB disbursal growth: 14% in FY 2024-25.
- SEBI and RBI: India’s total retail credit outstanding: ₹65+ lakh crore (March 2025). Personal loan growth: 16% YoY.
- RBI Household Finance Committee: Recommended EMI-to-net-income ratio: max 40–50%. Standard eligibility metric used by all major Indian banks.
A ₹50 lakh home loan at 8.5% for 20 years costs ₹43,391/month in EMI — and ₹54.1 lakh in total interest, more than the principal borrowed. A 1% lower rate reduces total interest by ₹11.5 lakh. A ₹5,000/month prepayment from Year 5 cuts the tenure by 7 years. CalcWise’s loan calculators cover home loan EMI, car, personal, education, and business loans, prepayment comparison, flat vs reducing rate EMI, and debt consolidation — all with year-wise amortisation schedules.
EMI Calculators
Calculate home loan monthly EMI and total interest
PopularCalculate personal loan EMI and repayment schedule
PopularCalculate car loan EMI with down payment
PopularCalculate education loan EMI for studies
Calculate business loan EMI and interest
Convert purchases to EMI and calculate costs
Loan Eligibility Calculators
Check maximum home loan amount you can get
PopularCheck personal loan eligibility based on income
PopularCheck how credit score affects loan approval
Calculate DTI ratio for loan eligibility
Property & Mortgage Calculators
Calculate complete mortgage payment schedule
PopularEstimate property value for loan purposes
Advanced Loan Tools
Calculate savings from loan prepayment
AdvancedCompare prepayment vs continuing loan
PopularCompare flat and reducing interest rates
AdvancedCompare multiple loan offers side-by-side
AdvancedDebt Management Tools
Calculate savings from consolidating multiple loans
PopularComplete dashboard for managing all loans
AdvancedCalculate emergency fund for loan security
Essential❓ Frequently Asked Questions — Loan Calculators
How is home loan EMI calculated?
Home loan EMI = P × r × (1+r)^n ÷ ((1+r)^n – 1), where P = loan amount, r = monthly interest rate (annual rate/12), n = loan tenure in months. For ₹50 lakh at 8.5% p.a. for 20 years: r = 8.5/12/100 = 0.007083; n = 240; EMI = ₹43,391. Total payment = ₹1,04,13,807; Total interest = ₹54,13,807 — 108% of the original loan amount.
What is the current home loan interest rate in India?
As of June 2026, home loan interest rates in India: SBI 8.50% p.a. (starting), HDFC Bank 8.70%, Kotak Mahindra 8.75%, Axis Bank 8.75%, ICICI Bank 8.75%. These are floating rates linked to each bank’s MCLR or Repo Rate. Rates vary by credit score, loan amount, and income profile. Use the Home Loan EMI Calculator to compute EMI at your specific rate and tenure.
Should I choose a shorter or longer home loan tenure?
Shorter tenure = higher EMI, lower total interest. Longer tenure = lower EMI, higher total interest. For ₹50L at 8.5%: 15yr EMI = ₹49,240 (total interest ₹38.6L); 20yr EMI = ₹43,391 (total interest ₹54.1L); 25yr EMI = ₹40,260 (total interest ₹70.8L). Choose the shortest tenure where the EMI stays within 40% of your net monthly income. Use prepayments to reduce effective tenure.
What is the difference between flat rate and reducing balance EMI?
Flat rate: interest calculated on the original principal throughout the loan. Reducing balance (most Indian home/personal loans): interest calculated only on the outstanding principal. For a ₹5 lakh personal loan at 12%, the flat rate EMI is ₹11,667/month while reducing balance EMI is ₹11,122/month — a meaningful difference over 5 years. Always confirm whether a lender quotes flat or reducing rates.
How much can I save by prepaying my home loan?
Even small prepayments make a big difference. On a ₹50L loan at 8.5% for 20 years, a ₹5,000/month additional prepayment from Year 1 saves ₹23.4L in interest and closes the loan 7 years early. Use the Loan Prepayment Calculator to see exact savings for your loan balance and prepayment amount.