Plan your home purchase end-to-end with a mortgage calculator that goes beyond just EMI. It includes property tax, home insurance and down-payment so you can see the full monthly housing cost - exactly what banks look at while approving your home loan.
= ₹15,00,000
Municipal/corporation tax per year
Optional but recommended
Monthly housing cost
₹54,773
EMI + tax + insurance
Loan amount
₹60,00,000
Down payment ₹15,00,000
Total interest
₹67,25,434
Over 20 years
Loan EMI
₹53,023
Principal + interest
Tax / month
₹1,250
Insurance / month
₹500
Where your monthly cost goes
Estimates only. Actual EMI may vary based on processing fee, GST and the exact rate offered. Property tax depends on the municipality and built-up area. Home insurance premium varies by sum insured and cover type.
لا يزال بعض المحتوى معروضًا بالإنجليزية.
A home loan is the largest single financial decision most Indians ever make. The numbers are large enough that small percentage changes have life-altering consequences - a half-percent reduction in interest rate on a ₹60 lakh, 20-year loan saves about ₹4 lakh in total interest. The trick to getting the math right is to think in terms of total monthly housing cost, not just EMI: principal, interest, property tax, home insurance, society maintenance, plus the upfront one-time costs (stamp duty, registration, GST on under-construction property, processing fees) that don't get amortised but add 8-12% to the cost of the home.
This calculator combines the standard EMI formula with property tax and insurance to show the realistic monthly housing outflow. It uses the same monthly reducing balance formula that SBI, HDFC, ICICI, Axis and other major Indian lenders use - your final EMI from the bank will match this number to within a few rupees, with small differences caused by processing fees added to the principal or how the bank charges interest on the partial first month.
Enter the home price and the down-payment you can afford.
Set the home-loan interest rate and tenure (typically 15–30 years).
Add yearly property tax and home insurance if you know the figures.
Read the total monthly cost - EMI plus tax and insurance - and the total interest paid over the tenure.
The principal-and-interest portion uses the standard reducing-balance EMI formula. Property tax and home-insurance premiums are spread evenly across 12 months and added on top to give you the true monthly housing outflow. Lenders generally cap your monthly housing cost at 30-40% of your take-home income.
Monthly cost = EMI(P, r, n) + (Yearly tax / 12) + (Yearly insurance / 12)
Indian home-loan rates are usually quoted as 'Repo Rate + Spread'. Repo Rate is set by the RBI (currently around 6.5%); the spread is the bank's markup, typically 1.5-2.5% for retail home buyers. Most home loans are floating-rate - when the repo changes, the bank usually keeps the EMI fixed and adjusts the tenure rather than increasing the EMI immediately. Reading the fine print of the sanction letter is essential.
Beyond the EMI, three recurring costs need to be in your monthly budget. Property tax (₹3,000-50,000/year depending on city and property size) is a municipal levy - Mumbai's is calculated on capital value, Bengaluru and Chennai use unit area value, Delhi uses MCD's circle-rate-based formula. Home insurance (₹1,500-5,000/year) protects against fire, theft and natural disasters. Society maintenance for apartments is ₹2,000-15,000/month and is an outsize cost in newer high-rise societies.
Tax benefits make a home loan more affordable than the headline EMI suggests. Section 24(b) allows up to ₹2 lakh deduction per year on home loan interest for a self-occupied home (the entire interest is deductible for a let-out property, capped against rental income loss). Section 80C allows up to ₹1.5 lakh deduction on principal repayment. For a ₹50 lakh loan in the 30% bracket, this can reduce the effective cost of the loan by ₹1-1.2 lakh per year - making the after-tax interest rate roughly 1.5-2% lower than the headline rate.
EMI ≈ ₹73,765. Property tax ₹15,000/year (₹1,250/mo). Home insurance ₹2,400/year (₹200/mo). Total monthly housing cost ≈ ₹75,215. Total interest over 20 years ≈ ₹92.04 lakh - more than the principal. Tax savings under 24(b) and 80C in 30% slab ≈ ₹1.05 lakh/year - effectively reducing the loan rate to about 7.0%.
EMI ≈ ₹52,348. Property tax ₹12,000/year (₹1,000/mo). Home insurance ₹2,000/year (₹167/mo). Total ≈ ₹53,515/month. Total interest over 25 years ≈ ₹92.05 lakh - also more than the principal. Shortening to 20 years bumps EMI to ₹56,398 but cuts total interest to ₹70.36 lakh, a ₹21.69 lakh saving.
RBI rules require a minimum 10–25% down-payment depending on the loan slab. 20% is the common benchmark. A larger down-payment lowers your EMI and total interest.
Indian banks offer up to 30 years, but most borrowers choose 15–20 years. A longer tenure reduces EMI but increases total interest paid.
Yes. Under Section 24(b) you can claim up to ₹2 lakh interest deduction per year on a self-occupied home. Section 80C allows up to ₹1.5 lakh principal deduction.
Property tax is a yearly municipal levy based on built-up area, location and usage. Rates vary by city, typically 0.1%–1% of the assessed property value per year.
Most lenders strongly recommend or require a home-loan insurance / property insurance to protect the asset and the loan. Premiums are small (a few thousand rupees per year for typical homes) but worth budgeting.
On floating-rate home loans, the EMI is reset whenever the lender's repo-linked rate changes. The calculator shows the EMI at the rate you enter - re-run it after any rate revision.
Indian financial products - home loans, fixed deposits, mutual funds, NPS, insurance - each carry their own quirks: monthly reducing balance vs flat-rate interest, quarterly vs monthly compounding, indexation on capital gains, the choice between the old and new tax regime. We design every finance calculator to use the formula that an Indian bank, AMC, or insurer would actually use, and to surface the assumptions in plain English so you can audit the result against your own statement.
Use this calculator alongside the EMI, SIP and inflation calculators to plan your money holistically. A standalone EMI number means little until you compare it with your in-hand salary, your existing debt-to-income ratio, and the impact of inflation on the real cost of the loan. The related-tool grid below makes it one click to chain these analyses together.
The Mortgage Calculator is part of the Finance suite on Online Calculator Tools, alongside 6 related calculators. All tools share the same UI patterns, the same privacy-first rendering (nothing is sent to a server), and the same commitment to showing the formula and assumptions behind every result.
