Home Loan EMI Calculator India 2026 — Bank Wise Home Loan Interest Rate Comparison

Calculate your exact home loan EMI, total interest, tax savings, and eligibility. Compare bank-wise interest rates — SBI, HDFC, ICICI, BOB and more. Includes amortization schedule and affordability planner.

🏠 SBI 8.50% | BOB 8.40% | HDFC 8.75% 📈 EMI + Total Interest + Tax Saving 📋 Year-Wise Amortization Schedule ✅ Salary-Based Eligibility Calculator 💸 24B + 80C Tax Benefit Calculator ⚖ 20 vs 30 Year Tenure Comparison
Home Loan EMI Calculator 2026

Your Home Loan EMI

Enter loan amount, interest rate, and tenure. EMI, total interest, and tax savings shown instantly.

🏠 Loan Details
₹50.00 L
₹1 Lakh₹10 Crore
8.5%
6%15%
20 yrs
1 yr30 yrs
⏳ Quick Tenure Select
🏠 Current Rates (Jul 2026): SBI 8.50% | BOB 8.40% | HDFC 8.75% | ICICI 8.75% | LIC HFL 8.50%. RBI Repo: 5.25%. All rates floating (EBLR-linked).
📈 Your Income Details
₹75,000
₹15,000₹10,00,000
₹0
₹0₹1,00,000
8.5%
6%15%
20 yrs
5 yrs30 yrs
✅ Banks allow 50% of net income as max EMI (FOIR). Add co-applicant to increase eligibility. Better CIBIL score = higher eligible amount.
📋 Loan & Tax Details
₹50.00 L
₹1 L₹10 Cr
8.5%
6%15%
20 yrs
1 yr30 yrs
30%
5%30%
⚠ Tax benefit available under Old Regime only: Sec 24B (interest ₹2L) + 80C (principal ₹1.5L) + 80EEA (₹1.5L first-time). New regime: no deduction.
🏠 Monthly EMI
₹0
for 20 years at 8.5%
📋 Annual Tax Saved: ₹0 | Sec 24B + 80C (Old Regime)
0% interest ratio
Principal Total Interest
PRINCIPAL vs INTEREST BY YEAR
🚀 Get Home Loan Guidance on WhatsApp
VR
Vikash Royal ARN-356458
B.E. | MBA Finance | NISM Certified | 7+ Years in Finance

🏠 Bank Wise Home Loan Interest Rate India — July 2026

Current home loan interest rates across major banks and NBFCs. All rates are for salaried borrowers with CIBIL 750+, floating rate linked to EBLR/PLR. Rates change with RBI repo rate.

SBI
8.50–9.85%
Floating (EBLR) | PSU
Best for salaried, wide branch network
PSU
HDFC Bank
8.75–9.90%
Floating (MCLR) | Private
Fast processing, good for self-employed
Private
ICICI Bank
8.75–9.85%
Floating (EBLR) | Private
Instant sanction, doorstep service
Private
Kotak Bank
8.75–9.85%
Floating (EBLR) | Private
Competitive rates for premium borrowers
Private
Axis Bank
8.75–9.90%
Floating (EBLR) | Private
Balance transfer specialisation
Private
Bank of Baroda
8.40–9.65%
Floating (EBLR) | PSU
Lowest rates for government employees
PSU ✅ Lowest
Punjab Natl.
8.40–9.80%
Floating (EBLR) | PSU
Best for NRI & semi-urban borrowers
PSU ✅ Lowest
LIC Housing
8.50–9.75%
Floating (PLR) | NBFC
Long tenure up to 30 years, no foreclosure fee
NBFC
Tata Capital
8.75–9.90%
Floating (PLR) | NBFC
Balance transfer with top-up option
NBFC
Bajaj Housing
8.55–9.80%
Floating (PLR) | NBFC
Flexible EMI, good for self-employed
NBFC

Rates as of July 2026. Floating rates linked to RBI External Benchmark Lending Rate (EBLR) = Repo Rate (5.25%) + spread. Rates change when RBI revises the repo rate. Best rates available for CIBIL 750+, LTV below 75%, and loan above ₹30 lakh. Self-employed borrowers typically pay 0.10–0.25% higher. Check with respective banks for exact applicable rate based on your profile.

📈 Home Loan EMI Table — ₹30L, ₹50L, ₹75L at Different Rates & Tenures

Monthly EMI comparison across loan amounts, bank rates, and tenures. Find your EMI in seconds — no calculation needed.

Loan Amount @ 8.40%
BOB/PNB (20yr)		 @ 8.50%
SBI/LIC (20yr)		 @ 8.75%
HDFC/ICICI (20yr)		 @ 8.50%
SBI (25yr)		 @ 8.50%
SBI (30yr)
₹20 Lakh₹17,230₹17,356₹17,674₹16,105₹15,378
₹30 Lakh₹25,845₹26,035₹26,511₹24,157₹23,067
₹40 Lakh₹34,460₹34,713₹35,348₹32,209₹30,757
₹50 Lakh₹43,075₹43,391₹44,186₹40,261₹38,446
₹75 Lakh₹64,613₹65,087₹66,278₹60,392₹57,669
₹100 Lakh₹86,150₹86,782₹88,371₹80,523₹76,891

EMI calculated using standard formula: EMI = P × r × (1+r)^n ÷ [(1+r)^n − 1]. Difference between 8.40% and 8.75% on ₹50L (20 years): ₹43,391 vs ₹43,947 — ₹556/month difference = ₹1.33 lakh total extra interest over 20 years. Choosing the right bank saves real money. PSU banks (BOB, PNB at 8.40%) consistently offer the lowest starting rates for strong CIBIL profiles.

📋 Home Loan Amortization Schedule — ₹50 Lakh, 8.5%, 20 Years

Year-by-year breakdown of principal paid, interest paid, and outstanding balance. Clearly shows how early EMIs are interest-heavy — making early prepayment the most impactful strategy.

Year Opening Balance Principal Paid Interest Paid Total EMI (yr) Interest % Closing Balance
Yr 1 🔥₹50.0L₹100K₹421K₹521K81%₹49.0L
Yr 2 🔥₹49.0L₹108K₹412K₹521K79%₹47.9L
Yr 3 🔥₹47.9L₹118K₹403K₹521K77%₹46.7L
Yr 4 🔥₹46.7L₹128K₹392K₹521K75%₹45.5L
Yr 5 🔥₹45.5L₹140K₹381K₹521K73%₹44.1L
Yr 6₹44.1L₹152K₹369K₹521K71%₹42.5L
Yr 7₹42.5L₹165K₹355K₹521K68%₹40.9L
Yr 8₹40.9L₹180K₹341K₹521K65%₹39.1L
Yr 9₹39.1L₹196K₹325K₹521K62%₹37.1L
Yr 10₹37.1L₹213K₹307K₹521K59%₹35.0L
Yr 11₹35.0L₹232K₹289K₹521K55%₹32.7L
Yr 12₹32.7L₹253K₹268K₹521K51%₹30.1L
Yr 13₹30.1L₹275K₹246K₹521K47%₹27.4L
Yr 14₹27.4L₹299K₹221K₹521K43%₹24.4L
Yr 15₹24.4L₹326K₹195K₹521K37%₹21.1L
Yr 16 ✅₹21.1L₹355K₹166K₹521K32%₹17.6L
Yr 17 ✅₹17.6L₹386K₹135K₹521K26%₹13.7L
Yr 18 ✅₹13.7L₹420K₹101K₹521K19%₹9.5L
Yr 19 ✅₹9.5L₹457K₹64K₹521K12%₹5.0L
Yr 20 ✅₹5.0L₹497K₹23K₹521K4%₹0.0L

🔥 Years 1–5: 80–85% of EMI is interest — critical prepayment window. ✅ Years 16–20: Only 15–20% is interest — prepayment benefit is minimal. Total interest (₹54.1L) exceeds the principal (₹50L) — this is why long-tenure loans are so expensive. Reducing tenure from 20 to 15 years by prepayment cuts total interest by ~₹15L.

💡 4 Smart Home Loan Strategies India 2026

Choosing the right bank, rate, and repayment strategy can save lakhs over the loan tenure.

🏠
Get Pre-Approved Before Property Search — Know Your Budget
A home loan pre-approval (in-principle sanction) tells you exactly how much the bank will lend based on your income, CIBIL score, and existing obligations. This has three key advantages: you search for properties within your actual budget (not aspirational); sellers and builders take your offer more seriously (you're a verified buyer, not a browser); and you can negotiate better as a ready buyer. Most banks offer free pre-approval within 24–48 hours digitally. Pre-approval is valid for 3–6 months. Get pre-approvals from 2–3 banks simultaneously — compare the sanction amount, rate offered, and processing fee before choosing. Pre-approval doesn't obligate you — you can decline without any penalty.
📈
Compare Effective Rate, Not Just Headline Rate — Include Processing Fees
Banks advertise attractive headline rates but charge processing fees (0.25–1% of loan), legal fees, valuation fees, and insurance premiums. A bank offering 8.40% with 1% processing fee on ₹50L = ₹50,000 upfront cost. Another at 8.50% with zero processing fee saves you ₹50,000 immediately, which covers the rate difference for 5+ years. Calculate the Effective Annual Rate: (Total Interest Over Tenure + All Fees) ÷ Loan Amount ÷ Years. Also check: Does the rate offer have conditions? (Only for loans above ₹75L, or only for women co-applicants, or only for ready-to-move properties.) Ask for the complete cost sheet before finalising. A 10-minute comparison can save ₹50,000–₹1,50,000.
💸
Add Spouse as Co-Applicant — Higher Eligibility + Tax Benefit
Adding your spouse as co-applicant has three distinct advantages: Loan eligibility increases — both incomes are combined for FOIR calculation. On ₹75,000 + ₹50,000 combined income, you can get a loan 60% larger than on ₹75,000 alone. Tax benefit doubles — both borrowers can claim Section 24B deduction (up to ₹2L each on interest) and 80C deduction (up to ₹1.5L each on principal). Combined tax saving = up to ₹4L deduction × both slabs. Property co-ownership — if the property is co-owned, stamp duty concession available in many states for female co-owners (1–2% lower stamp duty). Practical tip: Both co-applicants must be co-owners of the property for tax benefits to apply to both — ensure the sale deed lists both names.
✅
Maintain CIBIL 750+ Before Applying — One Score Saves Lakhs
A CIBIL score of 750+ vs 700 on a ₹50L home loan can mean a 0.25–0.50% lower interest rate. Over 20 years at 8.5% vs 9.0% on ₹50L: EMI difference = ₹1,684/month. Total interest difference = ₹4.04 lakh over 20 years. Steps to improve CIBIL before home loan application: Pay all EMIs and credit card bills on time for 12+ months. Reduce credit utilisation below 30% (don't use more than 30% of credit card limit). Don't apply for multiple loans/credit cards in the 6 months before applying. Dispute any errors in your CIBIL report (free annual check on cibil.com). Check your CIBIL score 6 months before planning to buy — gives time to fix issues before the loan application.

❓ Home Loan EMI Calculator — Frequently Asked Questions

Most searched home loan questions India 2026 — answered with exact numbers and current bank rates.

Home loan EMI uses the standard reducing balance formula:

EMI = P × r × (1+r)^n ÷ [(1+r)^n − 1]
P = Principal | r = Monthly rate = Annual% ÷ 12 ÷ 100 | n = Months

Example: ₹50 lakh at 8.5% for 20 years:
r = 8.5 ÷ 12 ÷ 100 = 0.007083
n = 20 × 12 = 240
EMI = 50,00,000 × 0.007083 × (1.007083)^240 ÷ [(1.007083)^240 − 1]
= 50,00,000 × 0.007083 × 5.3133 ÷ 4.3133 = ₹43,391/month

Total paid = ₹43,391 × 240 = ₹1,04,13,840
Total interest = ₹54,13,840 (108% of original principal!)

Key insight: In the first EMI of ₹43,391 — ₹35,417 goes to interest and only ₹7,974 to principal. By Year 18, ₹7,000 goes to interest and ₹36,000 to principal. This front-loading of interest is why prepayment in early years is so powerful.
Home loan interest rates India (July 2026, for salaried borrowers, CIBIL 750+):

Lowest rates — PSU Banks:
• Bank of Baroda: 8.40% onwards (lowest PSU rate)
• Punjab National Bank: 8.40% onwards
• SBI: 8.50% onwards | LIC Housing Finance: 8.50%

Private Banks:
• HDFC Bank: 8.75% onwards | ICICI Bank: 8.75%
• Kotak Bank: 8.75% | Axis Bank: 8.75%

NBFCs:
• Bajaj Housing Finance: 8.55% | Tata Capital: 8.75%

Rate factors:
All floating rates are linked to EBLR (External Benchmark Lending Rate) = RBI Repo (5.25%) + bank spread. Rates change whenever RBI changes the repo rate — typically revised within 3 months of repo change.

Who gets the best rate:
✅ CIBIL 780+ | ✅ Government/PSU employee | ✅ Loan ₹30L+ | ✅ LTV below 70% | ✅ Ready-to-move property
Banks use FOIR (Fixed Obligation to Income Ratio) — typically max 50% of net income for EMI:

Max Home Loan Eligibility (20 years, 8.5%, CIBIL 750+):
• Net ₹25,000/month: ~₹10–12 lakh
• Net ₹40,000/month: ~₹17–20 lakh
• Net ₹60,000/month: ~₹26–30 lakh
• Net ₹75,000/month: ~₹33–38 lakh
• Net ₹1,00,000/month: ~₹44–50 lakh
• Net ₹1,50,000/month: ~₹65–75 lakh
• Net ₹2,00,000/month: ~₹88–100 lakh

Formula: Max EMI = Net Salary × 50% − Existing EMIs
Max Loan = Max EMI × [(1+r)^n − 1] ÷ [r × (1+r)^n]

How to increase eligibility:
✅ Add spouse as co-applicant (both incomes combined)
✅ Increase tenure to 30 years (lower EMI = higher eligible loan)
✅ Close existing personal/car loans before applying
✅ Show additional income (rental income, freelance, bonus)
Home loan tax benefits (Old Tax Regime, FY 2025-26):

Section 24B — Interest deduction:
Up to ₹2,00,000/year on interest paid for self-occupied property
No limit for let-out property (entire interest deductible against rental income)

Section 80C — Principal deduction:
Up to ₹1,50,000/year on principal repaid (part of overall 80C limit)

Section 80EEA — First-time buyer benefit:
Additional ₹1,50,000/year on interest for first-time buyers (stamp duty value ≤ ₹45 lakh, loan sanctioned before March 2022 — check current notification for extension)

Maximum annual tax saved (30% slab):
24B (₹2L) + 80C (₹1.5L) = ₹3.5L deduction × 31.2% = ₹1,09,200/year

First 5 years — when interest > ₹2L/year:
On ₹50L loan at 8.5%, Year 1 interest = ₹4.22L. Only ₹2L is deductible under 24B. Full benefit capped at ₹2L regardless of actual interest paid.

Important: No 80C or 24B deduction under New Tax Regime. This is a strong reason for home loan holders to stay on Old Regime.
20 vs 30 year comparison for ₹50L at 8.5%:

20-year tenure:
EMI: ₹43,391/month | Total interest: ₹54,13,840 | Total paid: ₹1,04,13,840

25-year tenure:
EMI: ₹39,893/month | Total interest: ₹69,67,900 | Total paid: ₹1,19,67,900

30-year tenure:
EMI: ₹38,446/month | Total interest: ₹88,40,560 | Total paid: ₹1,38,40,560

30-year saves ₹4,945/month but costs ₹34.27 lakh MORE in total interest vs 20-year.

When to choose 30 years:
✅ Current cash flow is genuinely tight
✅ You're confident of investing the ₹4,945 monthly savings at 12%+ CAGR
✅ Property is investment — rental income covers EMI

Best strategy: Take 30-year tenure for maximum flexibility. Voluntarily pay 20-year EMI (₹43,391 instead of ₹38,446). This reduces tenure close to 20 years while giving you the safety net to pay lower EMI in tough months. No prepayment penalty on floating rate home loans (RBI mandate).
Identity & Address (all applicants):
Aadhaar card, PAN card, Passport or Voter ID, utility bill (address proof)

Salaried applicants:
Last 3 salary slips, Form 16 (last 2 years), ITR acknowledgement (last 2 years), 6-month bank statement (salary account), employment letter or ID card

Self-employed applicants:
ITR with computation (last 3 years), CA-certified P&L and balance sheet, GST registration certificate, 12-month business bank statements, office address proof

Property documents:
Sale agreement / builder allotment letter, property title chain (last 30 years), approved building plan, NOC from builder/society, property tax receipts, occupancy certificate (ready property)

Processing timeline:
In-principle sanction: 24–48 hours (digital banks), 3–5 days (traditional banks)
Final sanction after documents: 7–15 working days
Disbursement after legal check: 2–5 working days

Tip: Keep all documents digitally ready (PDF/JPEG) before applying — most banks now accept fully digital applications with eSign and video KYC.

🏠 Get the Best Home Loan Rate + Complete Financial Plan

Finding the right home loan is just the beginning — the right tenure, prepayment strategy, and tax optimisation plan can save you ₹10–20 lakh over the loan tenure. Vikash Royal will compare rates across banks for your profile, recommend the optimal tenure and EMI, plan your prepayment schedule, and set up parallel investments to build wealth while repaying your loan. SEBI-Registered. ARN: ARN-356458

💬 Get My Home Loan Plan on WhatsApp