EMI Calculator
Your monthly payment, and the number lenders lead with less often: what the loan costs you in total.
See what prepaying does
The part worth sitting with
On a twenty-year home loan at 9%, total interest comes to more than the amount you borrowed. You repay the house twice. This is not a scandal — it is what compounding over two decades does — but it is worth seeing as one number rather than as a comfortable monthly figure.
Early EMIs are almost entirely interest. In year one of a 20-year loan, roughly four rupees in five go to the bank rather than to your principal. That is why prepayment in the early years is so much more effective than the same amount prepaid later, and why the extra-payment field above shortens the tenure far more than it seems like it should.
Floating rates do not change your EMI. When rates rise, most Indian
lenders quietly extend your tenure instead. The monthly figure looks stable while the
total cost climbs. Ask for the revised amortisation schedule, not the revised EMI.