--- title: "India home loan EMI calculator with LTV check | AumnI tools" description: "Work out the EMI on an Indian home loan over 20 years, see the minimum down payment under the RBI loan-to-value limits and test the effect of part-payments." url: https://aumnitools.com/in/tool/mortgage-calculator category: "Financial" country: "India" updated: 2026-11-08 --- # Mortgage Calculator Indian home loans run on a reducing balance with a fixed monthly instalment, and the RBI caps how much of the property value a lender may finance. This calculator gives the EMI, total interest and a schedule in rupees, and checks your down payment against the loan-to-value limit for your price. ## India rules and figures - RBI limits the loan to a share of the property value by loan size: 90% up to 30 lakh, 80% above 30 lakh and up to 75 lakh, and 75% above 75 lakh. - Those limits imply a minimum down payment of 10%, 20% and 25% of the price by loan size, which is the check this tool applies to your price. - The loan-to-value limits come from the RBI Housing Finance Companies Directions, 2025, updated to 1 October 2026. The bank directions were not read separately. - Under the old tax regime only, interest on a self-occupied home loan is deductible up to ₹2 lakh a year under section 24(b); the new regime does not allow it. - The ₹2 lakh cap needs a loan taken on or after 1 April 1999 and a house completed within 5 years; otherwise the cap is ₹30,000. - Stamp duty is set by each state and is not included in the calculation, and home loans usually use a reducing balance with monthly instalments. Sources: [RBI: Housing Finance Companies Directions, 2025](https://www.rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=12939) (checked 2026-11-08); [Income Tax Department: Interest on housing loan, self-occupied property](https://wm.incometaxindia.gov.in/web/guest/w/in-case-of-a-self-occupied-property-how-much-of-interest-on-housing-loan-can-be-claimed-as-deduction-) (checked 2026-11-08) ## How the mortgage calculator works The loan is the property price less your down payment. Each month interest is charged at one twelfth of the annual rate on the balance outstanding, and the EMI is set so the balance reaches zero in the last month. A part-payment cuts the balance at once, so interest falls and the loan ends earlier. Formula: `EMI = loan × j × (1 + j)^months ÷ ((1 + j)^months − 1), with j equal to the yearly rate ÷ 12` - The tenure starts at 20 years, and the starting figures are scaled up to rupee-sized amounts, grouped as lakhs and crores. - The down payment check follows the loan size: the loan-to-value ceiling is 90% up to 30 lakh, 80% above that up to 75 lakh and 75% above 75 lakh. - Property tax and society maintenance are entered as running costs, and no mortgage insurance is added. - Part-payments are entered as a monthly amount, which is a simple way to see the effect of paying more each month. - Stamp duty is set by each state and is not included, so budget for it beside the down payment. ## How to use the mortgage calculator 1. **Enter the price and down payment.** Type the property price and the money you will pay yourself. The page shows the minimum for that price and whether you meet it. 2. **Set the tenure and rate.** Enter the tenure in years and the interest rate quoted by your lender. The tenure starts at 20 years. 3. **Add running costs.** Include property tax, insurance and society maintenance to see what the home costs each month beyond the EMI. 4. **Try a monthly part-payment.** Enter an amount to pay above the EMI each month and read the earlier closing date and the interest saved. 5. **Look at a balance transfer.** Use the Refinance tab to test a lower rate on your outstanding balance after counting the switching charges. ## Example: A ₹75,00,000 flat with a 20% down payment at 8.5% over 20 years A ₹15,00,000 down payment leaves a ₹60,00,000 loan, which is the most the 80% limit allows for a price above 30 lakh and up to 75 lakh. The EMI is ₹52,069.39 and interest over 20 years is ₹64,96,654.56. A 15-year tenure raises the EMI to ₹59,084.37 and cuts interest to ₹46,35,187.23. Paying an extra ₹10,000 a month closes the 20-year loan after 164 payments and saves ₹23,46,111.74. ## When to use the mortgage calculator - **Checking an EMI quote.** Enter the lender's rate and tenure to confirm the EMI before you accept the sanction letter. - **Planning the down payment.** Enter the price to see the minimum down payment under the RBI limit and compare it with your savings. - **Choosing 15 or 20 years.** Compare tenures to see how a higher EMI cuts the total interest by lakhs. - **Testing part-payments.** Add a monthly amount above the EMI to see how many years come off the loan. ## What the mortgage calculator does not do - The loan-to-value check follows the RBI Housing Finance Companies Directions. A bank may set tighter terms or use its own directions. - Stamp duty, registration, processing fees and any insurance are not part of the EMI and are not modelled. - One rate is used for the whole tenure, so floating-rate resets after a benchmark change are not calculated. - The tax deduction under section 24(b) is described but not applied, and it applies only under the old tax regime. - The Affordability tab rests on a US income rule and is only a rough budget; lenders assess income and obligations in their own way. ## When something else is a better fit - **When you already have a home loan and want to prepay it**, use the [Early Payoff Calculator](https://aumnitools.com/tool/early-payoff-calculator.md). - **When you are comparing sanction offers from lenders**, use the [Loan Comparison Tool](https://aumnitools.com/tool/loan-comparison-tool.md). - **When you need the exact APR and charges for an offer**, use the Key Fact Statement your lender must give you before the loan. ## Questions about the mortgage calculator ### What is the EMI on a ₹60,00,000 home loan? At 8.5% over 20 years the EMI is ₹52,069.39, and total interest is ₹64,96,654.56. Over 15 years the EMI is ₹59,084.37 and interest is ₹46,35,187.23. ### How much must I pay myself for a ₹75,00,000 flat? ₹15,00,000, which is 20%. The RBI limit lets the lender finance up to 80% when the loan is above 30 lakh and up to 75 lakh. ### Does the RBI limit change with the loan size? Yes. It is 90% of the property value up to 30 lakh, 80% above that up to 75 lakh and 75% above 75 lakh, so the share you pay rises with the loan. ### Can I claim the interest as a tax deduction? Only under the old tax regime, up to ₹2 lakh a year on a self-occupied home under section 24(b), subject to its conditions. The new regime does not allow it, and this tool does not apply it. ### What does an extra ₹10,000 a month do? On the example loan it ends the loan after 164 payments instead of 240 and saves ₹23,46,111.74 of interest. Check whether your lender charges for part-payments on your loan type. ## Related tools - [Early Payoff Calculator](https://aumnitools.com/tool/early-payoff-calculator.md): Shows how much time and interest an extra monthly payment saves on a loan - [Loan Comparison Tool](https://aumnitools.com/tool/loan-comparison-tool.md): Compares loan offers side by side on monthly payment, total interest and total cost - [Budget Planner](https://aumnitools.com/tool/budget-planner.md): Plans monthly income and expenses by category, with a health score and debt payoff ## About this page Runs in your browser: what you enter is processed on this device and is not uploaded. Estimates for planning only, not financial, tax or legal advice. Check figures that matter with a qualified professional. Last checked against the tool's code on 2026-11-08. Interactive version: https://aumnitools.com/in/tool/mortgage-calculator