Home loan calculator
Home loan calculator
The instalment on a housing loan, the interest across the whole term, the money you have to arrange before the first payment, and the year-by-year schedule behind all of it.
How this is calculated
The loan is the price less your own contribution. Instalment = P x r x (1 + r)^n / ((1 + r)^n - 1), with r the annual rate over twelve and n the number of months. Upfront money is your contribution plus stamp duty, registration and the processing fee.
- This is the arithmetic of a fixed rate held for the whole term. A floating rate that moves even a little changes both the instalment and the term, and most lenders let you choose which one absorbs the change.
- Eligibility — how much a lender will sanction against an income — is a policy about your other EMIs, age at maturity and the society's own norms, so this page does not attempt it.
- Interest and principal paid on a home loan are treated differently for income tax, and the treatment depends on whether the property is let, self-occupied or still under construction. The figures here are the loan, not your return.
The instalment on a housing loan, what it costs across the whole term, the money you have to arrange before the first payment is due, and the year-by-year schedule that explains why the interest figure is larger than the loan.
Four numbers come from your papers, two come from your state
Price, own contribution, rate and term are all on the sanction letter or the agreement, and the instalment follows from them with no assumptions at all. Stamp duty and registration do not: they are state subjects, they differ between a first purchase and a second, between a man and a woman buyer in some states, and between a flat in one municipal limit and a plot in another, and in some districts registration is a flat amount per square metre rather than a percentage. That is why both are fields here with a percentage unit and a note pointing at the registrar’s circle rate, rather than a number this page could only have borrowed from another state.
The processing fee is the lender’s own, and it is entered as a percentage of the loan because that is how it is quoted. Where a bank instead takes a flat amount, type the amount as a percentage of what you are borrowing and the upfront total comes out the same.
What you have to arrange before the first instalment
The line readers least expect on this page is the one that is not a loan figure at all. Your contribution, stamp duty, registration and the processing fee are all payable around the time of registration, before the disbursement you are budgeting for, and they are frequently the reason a purchase stalls rather than the instalment. A lender financing eighty per cent of a price still expects twenty per cent of it from you, plus the state’s charges on the whole price rather than on the financed part.
Why the interest is bigger than the borrowing
On a twenty-year loan the interest across the term routinely exceeds the amount lent, and the schedule makes the reason visible: in the early years almost the whole instalment is interest, because interest is charged on the balance and the balance has barely moved. It is arithmetic rather than a warning — the same loan over fifteen years pays a materially higher instalment and a materially smaller total — but it is the reason the year rows are printed rather than a single total.
The schedule is the loan, not your statement
It is produced by running the same reducing-balance arithmetic month by month, so it agrees with the instalment above. It does not know that your rate is linked to a benchmark and resets, that your lender may hold the instalment constant and extend the term when the rate rises rather than the other way round, or that a moratorium on under-construction disbursements changes which months interest starts on. Read it as the shape of a fixed-rate loan, which is the only loan this page can compute.
Questions readers ask
Does this say how much a lender will give me?
No, and deliberately so. Eligibility is a policy about your income, your other instalments, your age at the end of the term and the lender’s own norms, and it changes between institutions and between months. This page takes the sanctioned amount as a given and works out what it costs.
Should the rate field hold the rate at the last reset?
Hold it at the rate your agreement carries today, and treat the answer as valid until the next reset. If you want the effect of a plausible move, run the page twice — the current rate and the rate after the shift — and compare the instalments. A housing loan over twenty years is far more sensitive to the second figure than to most things people spend time arguing about.
Can I print the schedule?
Yes. It is built in your browser from the numbers you typed, opens in a print window and is sent nowhere. It is the same document an amortisation table in a sanction letter is meant to match — which is a useful check to run before you sign.
More in Loans and part payments
Finance and debt
Interest on a deposit, the instalment on a loan, what a part payment saves and how long a card balance takes to clear.
- Home loan calculator The instalment on a housing loan, the interest across the whole term, the money you have to arrange before the first payment, and the year-by-year schedule behind all of it.
- Personal loan calculator The instalment on an unsecured loan and, beside it, the rate you are really paying once the processing fee is counted against the money that reaches your account.
- Loan prepayment and part-payment calculator What one lump sum, paid against a running loan, saves in interest — and whether it buys back months or lowers the instalment, which is the choice a lender asks you to make.