Calculate loan EMI with amortization schedule — home, car, personal, education loans.
EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ - 1), where P is principal, r is monthly interest rate (annual ÷ 12 ÷ 100), and n is tenure in months. This calculator does it automatically.
As of 2025-26, home loan rates typically range 8.3–9.5% for salaried borrowers with good credit. Public sector banks often offer slightly lower rates than private. Rates change with RBI repo rate revisions.
Prepayment reduces either your EMI amount (keeping tenure same) or your tenure (keeping EMI same). Reducing tenure saves more interest. This calculator shows impact — modify principal and compare.
Yes, under Section 24(b) up to ₹2 lakh per year for self-occupied property (old regime). Principal repayment is deductible under 80C up to ₹1.5 lakh. Not available in new regime except for let-out properties.