Reviewed by Nas, PropyMart AI · AI Property Advisor · Last updated 2026-05-23 · ★ 4.0 (1 ratings)
PropyMart's EMI Calculator computes your monthly home-loan instalment using the standard reducing-balance formula and overlays AI-powered insights on prepayment, tenure tuning and bank-wise rate comparison. Input your loan amount, interest rate and tenure to see EMI, total interest payable, total payout and a year-wise amortization snapshot — calibrated against current rates from SBI (8.5%), HDFC (8.7%), ICICI (8.75%), Axis (8.75%), Bank of Baroda (8.4%), PNB (8.45%), Kotak (8.85%) and LIC HFL (8.5%).
📖 Watch the 60-second visual story →
| Feature | EMI Calculator (this page) | ROI Calculator | Loan Advisor | Affordability |
|---|---|---|---|---|
| Primary output | Monthly EMI + total interest | Total ROI % | — | Max loan eligible |
| Inputs needed | Loan, rate, tenure | Price, rent, appreciation | — | Income, EMIs, FOIR |
| Best for | Comparing tenure / prepayment | Comparing vs MF / FD | — | First-time buyers |
| India-specific | 8 banks indicative rates | Nifty / gold benchmarks | — | 40% FOIR cap |
EMI = [P × R × (1+R)^N] / [(1+R)^N – 1], where P is the principal, R is the monthly interest rate (annual ÷ 12 ÷ 100) and N is the tenure in months. Our calculator does this automatically and shows the breakdown.
As of 2026, Bank of Baroda starts from 8.4%, SBI and LIC HFL from 8.5%, HDFC from 8.7%, ICICI and Axis from 8.75%. Actual rate depends on your credit score, income profile and loan-to-value ratio.
Yes. RBI rules prohibit prepayment penalty on floating-rate home loans for individuals. Fixed-rate loans may still attract 2–4% of the prepaid amount as charges; check your sanction letter.
Longer tenure means lower EMI but higher total interest. A 20-year loan typically pays ~1.4× the principal as interest; a 30-year loan pays ~2.1×. Pick the shortest tenure where the EMI stays under 40% of your take-home income.
No. EMI only covers principal + interest. Processing fees (0.25–1% of loan amount) and 18% GST on services are charged upfront and shown separately in your sanction letter.
At 8.5% for 20 years and a 40% FOIR cap, ~₹46 lakh. Use our Affordability Calculator at /tools/affordability for a personalised number including existing EMIs and down payment.
A CIBIL score of 750+ usually unlocks the lowest published rate. 700–749 gets standard rates; below 700 you pay a 25–75 bps premium or face rejection.
Reducing tenure (keeping EMI constant) saves more interest because it cuts the compounding window. Reducing EMI helps cash flow but interest savings are smaller.