Mortgage Calculator India 2026 — Home Loan EMI & Eligibility Based on Salary

Calculate home loan EMI, check mortgage eligibility based on your salary (FOIR method), compare balance transfer savings, and check property affordability across Indian cities. Free mortgage calculator India with all bank rates.

🏠 Mortgage Calculator India 📈 Based on Salary (FOIR Method) 🏭 EMI Calculator India ✅ All Bank Rates 2026 🔰 Balance Transfer Savings 📊 PMAY Subsidy Calculator
Mortgage Calculator India 2026

Calculate Home Loan EMI

Enter property price, down payment, interest rate, and tenure. Get monthly EMI, total interest, and amortisation schedule.

🏠 Property & Loan Details
₹60.00 L
₹5 L₹20 Crore
₹12.00 L
₹0₹19 Crore
8.75%
6%15%
20 yrs
1 yr30 yrs
🔰 PMAY Subsidy (Optional)
₹0
₹0 (Not applicable)₹2.67L (Max)
🏠 EMI Formula: P × R × (1+R)^N / ((1+R)^N − 1). Where P = Loan, R = Monthly Rate, N = Months. Min 10% down payment for loans above ₹30L; 20% recommended.
📈 Mortgage Eligibility Based on Salary
₹75,000
₹10,000₹50 Lakh
₹5,000
₹0₹20 Lakh
50%
30% (Conservative)65% (Aggressive)
8.75%
6%15%
20 yrs
5 yrs30 yrs
₹0
₹0 (No co-applicant)₹50 Lakh
📈 FOIR (Fixed Obligation to Income Ratio) = (All EMIs / Net Income) × 100. Banks allow 40–50% FOIR for salaried, 45–55% for self-employed. Co-applicant income adds to combined eligibility.
🏭 Home Loan Balance Transfer
₹40.00 L
₹1 L₹20 Crore
15 yrs
1 yr30 yrs
9.50%
6%15%
8.50%
6%15%
₹15,000
₹0₹5 Lakh
🏭 Balance transfer is worthwhile when rate difference > 0.5% and remaining tenure > 5 years. RBI mandates no prepayment penalty on floating rate home loans.
🏠 Monthly EMI
₹0
loading...
Principal: ₹0  |  Interest: ₹0  |  Total: ₹0
Monthly EMI
₹0
per month
Total Interest
₹0
over tenure
LTV Ratio
0%
loan-to-value
0% interest
Principal Interest
YEAR-WISE AMORTISATION
🚀 Get Home Loan Advice on WhatsApp
VR
Vikash Royal ARN-356458
B.E. | MBA Finance | NISM Certified | 7+ Years in Finance

🏠 Mortgage Calculator India — Monthly EMI at All Loan Amounts & Tenures

Home loan EMI in India at 8.75% interest rate. Compare EMI across different loan amounts and tenures to find what fits your salary.

Loan Amount 10 Years 15 Years 20 Years ★ 25 Years 30 Years Total Interest
(20 yrs)
₹10 L ₹12,533 ₹9,994 ₹8,837 ₹8,221 ₹7,867 ₹1,120,880
₹20 L ₹25,065 ₹19,989 ₹17,674 ₹16,443 ₹15,734 ₹2,241,760
₹30 L ₹37,598 ₹29,983 ₹26,511 ₹24,664 ₹23,601 ₹3,362,640
₹50 L ₹62,663 ₹49,972 ₹44,186 ₹41,107 ₹39,335 ₹5,604,640
₹75 L ₹93,995 ₹74,959 ₹66,278 ₹61,661 ₹59,003 ₹8,406,720
₹1.0 Cr ₹125,327 ₹99,945 ₹88,371 ₹82,214 ₹78,670 ₹11,209,040
₹1.5 Cr ₹187,990 ₹149,917 ₹132,557 ₹123,322 ₹118,005 ₹16,813,680
₹2.0 Cr ₹250,654 ₹199,890 ₹176,742 ₹164,429 ₹157,340 ₹22,418,080

EMI calculated at 8.75% p.a. (mid-range current home loan rate India 2026). 20-year column starred as most common mortgage tenure. Total interest for 20-year tenure on Rs 50L loan = Rs 55.8L — you pay more in interest than the principal borrowed! This is why prepayment matters. Even one extra EMI per year reduces 20-year tenure by 2-3 years and saves lakhs in interest. At 8.5% (SBI rate): EMI for Rs 50L / 20 yrs = Rs 43,391 (Rs 693 less per month vs 8.75%). Over 20 years: Rs 1.66L saving from a 0.25% rate reduction alone — always negotiate your home loan rate.

📈 Mortgage Calculator India Based on Salary — Loan Eligibility 2026

Maximum home loan eligibility based on monthly salary in India. Calculated using FOIR method at 8.75% rate, 20-year tenure, no existing EMIs.

Monthly Salary Max EMI
(40% FOIR)		 Max EMI
(50% FOIR)		 Loan Elig.
40% FOIR		 Loan Elig.
50% FOIR		 Affordable
Property (80% LTV)		 Notes
₹25,000 ₹10,000 ₹12,500 ₹11.3 L ₹14.1 L ₹18.0 L Entry-level. EMI max Rs 10,000–12,500/mo (40–50% of take-home).
₹50,000 ₹20,000 ₹25,000 ₹22.6 L ₹28.3 L ₹35.0 L Mid-level. Eligible for Rs 28–42L depending on existing EMIs.
₹75,000 ₹30,000 ₹37,500 ₹34.0 L ₹42.4 L ₹53.0 L Senior executive. Good CIBIL and low FOIR helps.
₹100,000 ₹40,000 ₹50,000 ₹45.3 L ₹56.6 L ₹71.0 L Manager level. Consider joint loan for higher eligibility.
₹150,000 ₹60,000 ₹75,000 ₹67.9 L ₹84.9 L ₹1.06 Cr Senior professional. Eligible for premium properties.
₹200,000 ₹80,000 ₹100,000 ₹90.5 L ₹1.13 Cr ₹1.41 Cr CXO/VP level. Co-applicant increases eligibility further.
₹300,000 ₹120,000 ₹150,000 ₹1.36 Cr ₹1.70 Cr ₹2.12 Cr Director/entrepreneur. Can access Rs 1.5–2.5 Cr loans.
₹500,000 ₹200,000 ₹250,000 ₹2.26 Cr ₹2.83 Cr ₹3.54 Cr High income. Bank calculates based on net taxable income.

FOIR (Fixed Obligation to Income Ratio) = All monthly EMIs / Net monthly income. Banks allow 40–50% FOIR for salaried. Deduct existing EMIs from FOIR headroom. Example: Rs 75,000 salary, Rs 8,000 existing EMI, 50% FOIR: Available EMI = 75,000 × 50% − 8,000 = Rs 29,500. Loan eligibility = 29,500 × 127.8 = Rs 37.7L. Affordable property at 80% LTV = Rs 47.1L. Note: Banks also check: CIBIL score (750+ for best rate), employment stability (3 years minimum), age (loan should close before 60 for salaried, 65 for self-employed), property type (approved layouts only for full LTV).

🏭 Home Loan Interest Rates India 2026 — All Major Banks

Current home loan rates across Indian banks. Rates linked to RBI Repo Rate (5.25%). All floating rate loans. Compare before applying.

SBI
8.50%
Range: 8.50–8.85% p.a.
Lowest rate for salaried. CIBIL 750+ required. 90% LTV up to Rs 30L.
HDFC Bank
8.70%
Range: 8.70–9.40% p.a.
Flexible tenure. Balance transfer available. Women get 0.05% lower.
ICICI Bank
8.75%
Range: 8.75–9.60% p.a.
Pre-approved offers for existing customers. Digital process.
Kotak Mahindra
8.75%
Range: 8.75–9.25% p.a.
Quick disbursal. Overdraft facility on home loan available.
Axis Bank
8.75%
Range: 8.75–9.65% p.a.
Step-up EMI option for young professionals. Flexi loan available.
Bank of Baroda
8.40%
Range: 8.40–9.10% p.a.
One of lowest rates for govt employees. Baroda advantage scheme.
LIC Housing
8.50%
Range: 8.50–9.25% p.a.
Good for self-employed. Longer tenure up to 30 years.
PNB Housing
8.50%
Range: 8.50–9.50% p.a.
Easy for NRI applicants. Competitive self-employed rates.

Rates as of 2026. All home loans post-Oct 2019 are on External Benchmark Lending Rate (EBLR) linked to RBI Repo Rate. When RBI cuts repo rate, your EMI or tenure reduces automatically within the reset period (typically 3 months). Women co-borrowers: 0.05–0.10% concession from most banks. PMAY-CLSS subsidy: Up to Rs 2.67L NPV subsidy for eligible income groups. Prepayment on floating rate loans: No penalty (RBI directive). Compare total cost of loan (interest + processing fee + insurance) — not just interest rate.

🏠 Property Prices by City India 2026 — Plan Your Mortgage

Per sq ft property price range and typical flat prices across major Indian cities. Use this to estimate the loan amount needed.

Mumbai (Suburbs)
₹8,500–₹15,000/sq ft
1 BHK 40-60L | 2 BHK 80L-1.5Cr | 3 BHK 1.5-3Cr
Delhi NCR (Noida)
₹4,000–₹8,000/sq ft
1 BHK 25-45L | 2 BHK 40-80L | 3 BHK 70L-1.5Cr
Bengaluru
₹6,000–₹12,000/sq ft
1 BHK 35-60L | 2 BHK 60L-1.2Cr | 3 BHK 1-2Cr
Hyderabad
₹5,000–₹9,000/sq ft
1 BHK 25-50L | 2 BHK 45-90L | 3 BHK 80L-1.8Cr
Chennai
₹5,500–₹10,000/sq ft
1 BHK 30-55L | 2 BHK 50L-1Cr | 3 BHK 90L-1.8Cr
Pune
₹5,000–₹9,500/sq ft
1 BHK 30-55L | 2 BHK 50L-1Cr | 3 BHK 85L-1.5Cr
Ahmedabad
₹3,500–₹6,500/sq ft
1 BHK 20-35L | 2 BHK 35-65L | 3 BHK 55L-1.2Cr
Kolkata
₹4,000–₹7,000/sq ft
1 BHK 20-40L | 2 BHK 35-70L | 3 BHK 60L-1.3Cr

💡 4 Smart Mortgage Strategies for Indian Home Buyers

Buying a home is India's largest financial decision. These four strategies can save you lakhs in interest and help you choose the right mortgage.

🏠
How to Use Mortgage Calculator India — 5 Inputs That Change Everything
The five inputs in India's mortgage calculator and how to optimise each: 1. Loan Amount: Banks lend 75-90% of property value (LTV). Higher down payment = lower loan = lower interest. Save 20% down payment before buying. 2. Interest Rate: Even 0.25% rate difference on Rs 50L loan over 20 years = Rs 1.66L saving. Negotiate. Check if you qualify for women's rate concession (0.05-0.10% lower). 3. Tenure: 20-year is standard. 30-year reduces EMI but dramatically increases interest paid. 10-year has higher EMI but saves massive interest. Rule: take the longest tenure you can afford comfortably, then prepay aggressively. 4. PMAY Subsidy: Check eligibility (household income below Rs 18L/year). Subsidy of Rs 2.67L (NPV) reduces effective loan cost. Apply through bank during loan processing. 5. Balance Transfer: If your rate is 0.50%+ higher than current market rate and remaining tenure is 5+ years, balance transfer saves significantly. Calculate using the Balance Transfer mode above. Key: don't look only at EMI. Calculate total interest paid over the full tenure — that's the true cost of your mortgage.
📈
Mortgage India Based on Salary — FOIR Explained and How to Maximise Eligibility
FOIR (Fixed Obligation to Income Ratio) is the key metric banks use to determine how much home loan you get. FOIR = (All monthly EMIs) / (Net monthly income) x 100. Banks allow: Salaried: 40-50% FOIR. Self-employed: 45-55% FOIR (based on 3-year average ITR). Joint income: Combined FOIR allows much higher loan. Five ways to maximise home loan eligibility: 1. Add co-applicant: Spouse's income adds to combined FOIR. Joint loan means bigger eligibility. 2. Close existing EMIs before applying: Each Rs 5,000 monthly EMI you close adds approximately Rs 6.4L to your home loan eligibility (at 8.75%, 20 years). 3. Improve CIBIL before applying: CIBIL 750+ gets best rate. 720-749: 0.10-0.25% higher rate. Below 700: loan may be rejected or rate significantly higher. Takes 6-12 months to improve CIBIL — plan early. 4. Longer tenure: 30-year tenure gets higher loan than 20-year for same EMI. Use long tenure to qualify, then prepay to reduce actual interest burden. 5. Income documentation: Show all income sources — salary + rental income + other income. Self-employed: higher bank statement average increases eligibility. HUF income, rental income from other properties — all count if documented.
🏭
Balance Transfer — When It Makes Sense and When It Doesn't
Home loan balance transfer saves money only when done right. Rule of thumb: transfer is worth it when rate difference > 0.5% AND remaining tenure > 5 years. Exact calculation: Current bank rate 9.5%. New bank offer 8.5%. Outstanding Rs 40L, 15 years remaining. Current EMI: Rs 41,782. New EMI at 8.5%: Rs 39,386. Monthly saving: Rs 2,396. Total saving over 15 years: Rs 4.3L. Transfer costs: Processing fee Rs 15,000 + legal fee Rs 10,000 + insurance Rs 5,000 = Rs 30,000. Net saving: Rs 4.3L - Rs 30,000 = Rs 4.0L. Breakeven: 30,000/2,396 = 12.5 months. Worth it: YES. When NOT to transfer: Remaining tenure under 3-4 years (interest mostly paid already — amortisation front-loads interest). Rate difference under 0.25-0.30% (saving barely covers transfer costs). Fixed rate loan from existing bank (prepayment penalty of 2-3% applies on fixed rate — check). You have other urgent financial needs (CIBIL impact of new loan application). Important: RBI mandates NO prepayment penalty on floating rate home loans. Your existing bank cannot charge you for transferring a floating rate loan. Always get this in writing before initiating balance transfer.
🔰
Prepayment — The Most Powerful Home Loan Strategy India
Prepayment is the single most powerful strategy for reducing total home loan cost. Every rupee prepaid saves much more in interest than it earns in any savings account. Example: Rs 50L home loan, 8.75%, 20 years. Regular EMI: Rs 44,085. Total interest if no prepayment: Rs 55.8L. Strategy 1 — Annual lump sum: Prepay Rs 1L extra every year. Result: loan closes in 14.2 years (5.8 years early). Interest saved: Rs 18.4L. Strategy 2 — One extra EMI per year: Add Rs 44,085 in December. Result: loan closes in 17.1 years (2.9 years early). Interest saved: Rs 9.2L. Strategy 3 — Increase EMI by 10% every 2 years: Starts at Rs 44,085, increases every 2 years. Result: loan closes in 13.5 years. Interest saved: Rs 21.3L. Tax note: Section 24(b): Interest deduction Rs 2L/year on self-occupied property. Section 80C: Principal repayment up to Rs 1.5L deduction. These deductions reduce the effective cost of your home loan — factor this in before deciding between aggressive prepayment and other investments. If your investment returns > home loan effective rate (after tax deductions), investing may beat prepayment. At effective 6% home loan cost (after tax): equity MF at 12% CAGR beats prepayment. But guaranteed savings from prepayment beats investing for risk-averse borrowers.

❓ Mortgage Calculator India — Frequently Asked Questions 2026

Most searched home loan and mortgage questions India 2026.

Mortgage Calculator India — Step by Step:

Step 1: Enter Property Price (e.g., Rs 60 lakh)
Step 2: Enter Down Payment (minimum 10%; 20% recommended)
Step 3: Enter Interest Rate (SBI: 8.50%, HDFC: 8.70%, typical: 8.75%)
Step 4: Enter Tenure (20 years most common)
Result: EMI, Total Interest, Total Payment

EMI Formula:
EMI = P × R × (1+R)^N / ((1+R)^N − 1)
P = Loan Amount, R = Monthly Rate (Annual/12/100), N = Months

Example:
Loan Rs 48L (Rs 60L − Rs 12L down payment)
Rate: 8.75% p.a. | R = 0.007292
Tenure: 20 years | N = 240
EMI = 48,00,000 × 0.007292 × (1.007292)^240 / ((1.007292)^240 − 1)
= Rs 42,322/month
Total Payment = 42,322 × 240 = Rs 1,01,57,280
Total Interest = Rs 53,57,280
Mortgage Eligibility Based on Salary — FOIR Method:

Max Home Loan EMI = Net Salary × FOIR% − Existing EMIs
Loan Eligibility = Max EMI / Monthly Rate factor

Example:
Net Salary: Rs 75,000/month
Existing EMIs: Rs 5,000 (car loan)
FOIR: 50%
Max Home Loan EMI = 75,000 × 50% − 5,000 = Rs 32,500

At 8.75%, 20 years:
Loan = 32,500 × ((1.007292)^240 − 1) / (0.007292 × (1.007292)^240)
= 32,500 × 127.8 = Rs 41.5 lakh

Affordable Property (80% LTV): Rs 41.5L / 0.80 = Rs 51.9L

To increase eligibility:
Add spouse as co-applicant → combined income
Close existing EMIs → more FOIR headroom
Improve CIBIL score → better rate + approval
Opt for 30-year tenure → lower EMI, higher eligibility
Home Loan Rates India 2026:

Bank of Baroda: 8.40–9.10%
SBI: 8.50–8.85%
LIC Housing: 8.50–9.25%
PNB Housing: 8.50–9.50%
HDFC Bank: 8.70–9.40%
ICICI Bank: 8.75–9.60%
Kotak Mahindra: 8.75–9.25%
Axis Bank: 8.75–9.65%

Key points:
All rates linked to RBI Repo Rate (5.25% as of 2026)
When RBI cuts rate → your EMI falls automatically
Women borrowers: 0.05–0.10% lower rate
CIBIL 750+: best rate | Below 700: rejected or high rate
Govt employees: lower rates from PSU banks
Tip: Compare total cost, not just rate. Include processing fee (0.25–1% of loan), insurance, and legal charges.
LTV (Loan-to-Value) Ratio in India:
LTV = Loan Amount / Property Value × 100

RBI Mandated LTV Limits India:
Loan up to Rs 30L: Max 90% LTV (10% down payment)
Loan Rs 30L–75L: Max 80% LTV (20% down payment)
Loan above Rs 75L: Max 75% LTV (25% down payment)

Example:
Property Rs 60L. Loan Rs 48L.
LTV = 48/60 × 100 = 80% (within RBI limit for this range)

Why LTV matters:
Higher LTV = lower down payment needed (cash flow benefit)
Lower LTV = lower loan = lower interest paid (total cost benefit)
Banks offer better rates for lower LTV (less risk for bank)

Recommendation:
Keep LTV at 70–75% if possible. Borrow less, pay less interest, get better rate.
Prepay vs Invest — Indian Perspective:

Effective home loan rate (after tax benefit):
Home loan rate 8.75%. Section 24(b) saves tax on Rs 2L interest.
At 30% tax slab: Tax saving = Rs 60,000/year.
Effective net rate = 8.75% − (tax saving / total interest)
Approximate effective rate ≈ 6–7% in first years.

When to PREPAY:
Investment returns < 6–7% (FD, savings account)
You are risk-averse and want guaranteed debt reduction
Loan is in later years (interest deduction benefit has reduced)
Existing EMI is straining monthly cash flow

When to INVEST:
Long-term equity MF CAGR 12–15% > 6–7% effective loan rate
You have 7+ years of investment horizon
You have tax-advantaged accounts unused (PPF, NPS, ELSS)
You are in early loan years (maximum 80C + 24(b) benefit)

Best strategy: Do both. Use PPF/ELSS for 80C (Rs 1.5L/year). Invest surplus in equity MF. Prepay from annual bonus. Maintain emergency fund (6 months EMI) always.

🏠 Get a Complete Home Loan Plan — Best Rate, Right Tenure, Maximum Eligibility

Buying a home is India's most important financial decision. Vikash Royal will compare home loan offers from 10+ banks, calculate your true FOIR-based eligibility, check PMAY subsidy eligibility, advise on the right tenure for your age and income, and recommend the optimal balance between prepayment and investment. Don't navigate this alone — the right guidance saves lakhs. SEBI-Registered. ARN: ARN-356458

💬 Get My Home Loan Plan on WhatsApp