Home loan EMI: what the calculator shows you
Enter the property loan amount, interest rate, and tenure to see your monthly EMI, total interest payable, and total repayment. Home loans are the longest-tenure debt most people take on (15–30 years), so a difference of even 0.5% in rate compounds into lakhs of extra interest over the loan term — worth comparing lenders before you sign, not after.
Loan-to-value (LTV): how much you can actually borrow
RBI's LTV rules cap how much of the property value a bank can finance:
| Property value | Maximum LTV | You must fund |
|---|---|---|
| Up to ₹30 lakh | 90% | 10%+ |
| ₹30 lakh – ₹75 lakh | 80% | 20%+ |
| Above ₹75 lakh | 75% | 25%+ |
Budget for the margin money, stamp duty, registration, and brokerage separately — these aren't financed by the loan and typically add another 7–10% on top of your down payment.
Floating vs fixed rate
Nearly all home loans in India are floating rate today, linked to the lender's external benchmark (usually the RBI repo rate) plus a spread that depends on your credit score and loan-to-value ratio. When the RBI changes the repo rate, your EMI or tenure adjusts within one lending cycle. Fixed-rate home loans exist but are rare, cost more, and are usually only "fixed" for the first 2–3 years before reverting to floating — read the fine print before assuming a fixed-rate quote holds for the full tenure.
Tax benefits (old regime only)
| Section | Deduction | Applies to |
|---|---|---|
| 80C | Up to ₹1.5 lakh/year | Principal repayment |
| 24(b) | Up to ₹2 lakh/year | Interest, self-occupied property |
| 80EEA | Up to ₹1.5 lakh/year (additional) | First-time buyers, affordable homes ≤₹45 lakh, subject to sanction-date eligibility |
None of these are available under the new tax regime — factor this into your regime choice if a home loan is a major part of your annual deductions. Compare old vs new regime before deciding.
Self-employed and e-commerce sellers: eligibility works differently
If you file under presumptive taxation (Section 44AD/44ADA), lenders assess your home loan eligibility off your declared ITR income — not your actual bank credits. This can understate your real repayment capacity, especially for sellers whose GST turnover is much higher than net presumptive income after the deemed profit percentage. A CA-reviewed profit & loss statement alongside 2–3 years of ITRs and GST returns often gets a materially higher eligible loan amount than the ITR figure alone would suggest.