Home Loan Calculator
Find your home loan EMI, amortisation, and the loan amount you are likely to qualify for.
Inputs
₹50.00 Lakh
Take home salary plus any other regular income.
Monthly EMI
Eligibility check
Banks typically allow your total EMI commitments to stay under 50 percent of your net monthly income. Your eligible amount may vary based on credit score, age, employer, and property value.
Principal vs interest
A home loan is usually the largest financial commitment most Indians ever take on. Lenders evaluate your eligibility based on income, age, employer, credit score, and property value. They also cap your EMI to a comfortable share of your take home income, typically 40 to 50 percent.
How banks decide your loan amount
The first cap is your repayment capacity. Banks compute your Fixed Obligations to Income Ratio (FOIR), which is the share of monthly income going towards EMIs and credit card dues. If your FOIR after the new loan crosses 50 percent, the loan size is reduced.
The second cap is property value. Most lenders sanction up to 80 to 90 percent of the registered property value, called the Loan to Value ratio. The remaining 10 to 20 percent must come from your own contribution, plus stamp duty and registration.
Tax benefits on a home loan
Under the old regime, home loan principal qualifies for deduction up to ₹1.5 Lakh under section 80C, and the interest paid qualifies up to ₹2 Lakh per year under section 24(b) for a self occupied property. First time buyers within certain price limits may get additional benefits under section 80EEA.
Worked example
A ₹50 Lakh home loan at 8.75 percent for 20 years works out to a monthly EMI of about ₹44,186. Over the full tenure you pay roughly ₹56 Lakh in interest, taking the total outflow to around ₹1.06 Crore.
Frequently asked questions
If your home loan rate is higher than your post tax investment return, prepayment usually wins. If you can comfortably earn more than the loan rate after tax through equity SIPs or other investments, investing may be the better long term move.
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