Home Loan EMI Calculator
Calculate your housing loan EMI, total interest payable, and view a year-by-year amortization schedule. Compare rates across banks and plan prepayments.
Frequently Asked Questions
What is the current home loan interest rate in India?
Home loan interest rates in India range from 8.25% to 9.5% in 2026, depending on the bank and your credit score. SBI, HDFC, and ICICI offer some of the most competitive rates. Rates are linked to the repo rate set by RBI.
What is the maximum home loan tenure?
Most banks offer home loans with a maximum tenure of 30 years. However, the tenure cannot extend beyond your retirement age (typically 60–65 years). A longer tenure reduces EMI but increases total interest significantly.
How much home loan can I get on my salary?
Banks typically approve home loans where EMI does not exceed 40-50% of your net monthly income. For a salary of ₹1 lakh/month, you can expect a home loan of approximately ₹50-70 lakh depending on the interest rate and tenure.
Should I prepay my home loan or invest?
If your home loan rate is above 8.5% and you are in the highest tax bracket, prepaying the loan guarantees 8.5% risk-free return. However, if you can invest in equity MFs at 12%+ expected returns and your loan rate is low, investing might be better after accounting for Section 24 tax benefit.
What tax benefits are available on home loan?
Under the Old Tax Regime: Section 24(b) allows deduction of up to ₹2 lakh on home loan interest per year. Section 80C allows deduction of up to ₹1.5 lakh on principal repayment. These benefits are not available under the New Tax Regime.