Home Loan EMI Calculator
Property price to down payment to loan to full monthly payment - with prepayment & step-up.
A home loan EMI calculator shows the monthly instalment and total interest on a housing loan, and Richlify compares that against prepayment, a one-time lump-sum and an annual step-up to show the interest saved and the years removed from the tenure.
1 · Property & Down Payment
2 · Loan Terms & Prepayment
BASE EMI (P+I)
₹0
Year 1 instalment
NOMINAL RATE
9.5%
Per annum
STD. TOTAL INTEREST
₹0
No prepayment
STD. TOTAL PAID
₹0
Over full tenure
How this is calculated
The calculator runs two complete simulations side by side rather than producing a single EMI figure, because the useful question with a home loan is rarely what your instalment is — it is what happens over twenty years if you pay more than the minimum.
The standard scenario applies the conventional amortisation formula: EMI equals principal times the monthly rate times (1 plus the monthly rate) raised to the number of months, divided by that same quantity minus one. The monthly rate is the annual rate divided by twelve, which is how Indian lenders calculate it. On a ₹30 lakh property with a 10% down payment — a ₹27 lakh loan — at 9.5% over twenty years, that produces an EMI of ₹25,168 and total interest of ₹33,40,210 — meaning you repay well over twice the loan amount.
You enter the property price and down payment, and the loan amount is derived from the two. The tool then shows your full monthly outgo — principal and interest, plus property tax, home insurance and maintenance — rather than the bare EMI, because that is what actually leaves your account each month.
The accelerated scenario adds three ways to pay down principal faster. Extra EMIs are a lump prepayment made once a year, equal to your base EMI multiplied by the number you choose. A one-time lump-sum lets you model a specific windfall — a bonus or a matured deposit — applied in any month you pick, counted from the loan's start. The annual step-up raises your EMI by a set percentage each year, on the assumption your income grows too. Each rupee of principal cleared early removes all the future interest that principal would have generated.
On the same ₹27 lakh loan, three extra EMIs a year, a 5% annual step-up and a one-time ₹5 lakh prepayment in month 54 close the loan in 97 months rather than 240 — saving ₹20,46,249 in interest and making you debt-free nearly twelve years early. A one-time lump-sum earlier in the tenure saves even more, because the money stops accruing interest sooner.
The final month is capped at whatever is actually outstanding plus that month's interest, so the schedule closes cleanly rather than overpaying. Prepayment matters most on the longest and most expensive loan you hold, which for most households is the home loan — the savings are dramatic precisely because the tenure is long.